The Generalist

Cate Hall is the CEO of Astera, a private foundation focused on AI risk and frontier technology. Before leading Astera, Cate’s unconventional career path took her from practicing law (including work on Supreme Court briefs) to becoming the world’s top-ranked female poker player in 2016. After overcoming personal struggles with addiction, she co-founded Alvea, a biotech company developing shelf-stable vaccines for pandemic response, before joining Astera. In this conversation, Cate shares insights on human psychology, agency as a learnable skill, and why she believes AI’s biggest risk may be a “soft takeover” in which humans gradually lose independence and meaning.We explore:• How Cate’s approach to poker focused on reading people rather than pure game theory, and why this contrarian strategy worked• Why people who always try to “play” high status in conversations often have psychological issues• The critical difference between ambition and agency, and why they’re often confused• How LSD helped Cate break out of her career path and discover her own agency• Why Cate believes we need a slowdown in AI development to develop the social technologies to manage it• The challenge of maintaining meaning in human life as AI systems increasingly mediate our experiences• How Astera is using investment as a philanthropic tool to help steer frontier technology development—Thank you to the partners who make this possibleAuth0: Secure access for everyone. But not just anyone.Brex: The banking solution for startups.—Transcript: https://www.generalist.com/p/how-to-be-agentic-in-the-age-of-ai-cate-hall—Timestamps(00:00) Introduction to Cate Hall(03:56) Cate’s role as CEO of Astera(04:52) Cate’s poker career and focus on live reading(07:02) The intuitive ‘people radar’ Cate has in identifying exceptional talent(11:16) Status dynamics in conversations(16:13) The parallel between poker and startup evolution(19:18) The German wave in poker and game theory(24:22) Cate’s legal career and Supreme Court experience(27:05) The difference between ambition and agency(29:13) How LSD helped Cate discover her agency(31:26) Leaving poker and dealing with mental health issues(34:26) The founding story of Alvea(38:14) The founding story of Astera(43:15) Cate’s journey into AI risk(45:50) The concept of a “soft takeover” and how AI might hollow out human experience(49:46) The overwhelming challenge of addressing AI risk(51:20) Astera’s approach to steering technology development(53:15) Astera’s investment in Last Energy(54:20) How philanthropy and investing work together at Astera(57:22) Practical ways to increase personal agency(1:07:20) Final meditations—Follow Cate HallX: https://x.com/catehallLinkedIn: https://www.linkedin.com/in/cate-hall-9a81a35/Newsletter: https://usefulfictions.substack.com/—Resources and episode mentions—Books—• Zero to One: Notes on Startups, or How to Build the Future: https://www.amazon.com/Zero-One-Notes-Startups-Future/dp/0804139296/• Impro: https://www.amazon.com/Impro-Improvisation-Theatre-Keith-Johnstone/dp/0878301178• Superintelligence: Paths, Dangers, Strategies: https://www.amazon.com/Superintelligence-Dangers-Strategies-Nick-Bostrom/dp/0198739834/• The Righteous Mind: Why Good People Are Divided by Politics and Religion: https://www.amazon.com/Righteous-Mind-Divided-Politics-Religion/dp/0307455777/—People—• Jed McCaleb on LinkedIn: https://www.linkedin.com/in/jed-mccaleb-4052a4/• Charlie Carrel on X: https://x.com/charlie_carrel• Seemay Chou on X: https://x.com/seemaychou• Ben Kuhn on X: https://x.com/benkuhnEpisode resources continued at: https://www.generalist.com/p/how-to-be-agentic-in-the-age-of-ai-cate-hall—Production and marketing by penname.co. For inquiries about sponsoring the podcast, email jordan@penname.co.

David Krakauer is a leading complex systems researcher and the president of the Santa Fe Institute, a unique institution dedicated to studying complex systems across disciplines. In this episode, David challenges conventional wisdom about AI, arguing that large language models pose a more immediate threat to humanity than commonly discussed existential risks—not by destroying us directly, but by eroding our cognitive capabilities through addictive, low-quality information.We explore:• Why David believes LLMs aren't intelligent at all and how the AI community misunderstands emergence• The three dimensions of intelligence: inference, representation, and strategy—and which one LLMs lack• How AI acts as a "competitive" rather than "complementary" cognitive technology, atrophying our thinking abilities• What makes great minds unique, from analogical reasoning to the cultivation of unconscious creativity• How Cormac McCarthy's approach to knowledge and creativity offers lessons for the AI age• Why David believes the greatest threat from AI isn't existential risk but cognitive atrophy• How to protect your mind against AI's addictive pull and maintain cognitive autonomy—Thank you to the partners who make this possibleBrex: The banking solution for startups.Enterpret: Transform feedback chaos into actionable customer intelligencePersona: Trusted identity verification for any use case—Transcript: https://www.generalist.com/p/maintaining-human-intelligence-in-the-ai-era-david-krakauer—Timestamps(00:00) Intro(04:39) The Santa Fe Institute’s approach to complex systems(06:45) Murray Gell-Mann’s ‘Odysseus vs. Apollonian’(10:35) How SFI was shaped by the legacy of Los Alamos(12:45) Traits David looks for in great minds(14:43) Cormac McCarthy on naivety and how thoughtful people treat knowledge(19:24) A simple explanation of complexity science(22:50) Why vantage point doesn’t matter when studying systems(24:36) Aesthetic preferences among complexity scientists(26:07) Films and directors with complexity science themes(29:57) Why David argues LLMs are not intelligent(32:10) What’s missing in the study of LLMs(36:40) The three qualities of intelligence and how LLMs measure up(42:19) Lessons from "The Glass Bead Game"(44:00) David’s perspective on reinforcement learning(45:38) The greatest threat of LLMs: overreliance and the decline of thinking(47:40) Competitive vs. complementary cognitive artifacts(51:55) Why exposing yourself to quality ideas matters(54:00) How to derisk LLM use(58:32) Cormac McCarthy’s legacy at SFI and beyond(1:02:40) The Kekulé Problem: cultivating the unconscious(1:05:01) Why David and McCarthy were inspired by Wittgenstein(1:09:00) What Cormac McCarthy liked to talk about(1:12:20) David’s questions to a higher being(1:14:46) Final meditations—Follow David KrakauerWebsite: https://davidckrakauer.com/—Resources and episode mentions—Books—• “The Hedgehog and the Fox”: https://www.amazon.com/Hedgehog-Fox-Tolstoys-History-Second/dp/069115600X• The Birds and The Frogs: https://www.amazon.com/Aristophanes-Frogs-Birds/dp/B000QBPUTY• The Glass Bead Game: https://www.amazon.com/Glass-Bead-Game-Magister-Novel/dp/0312278497• Frankenstein: https://www.amazon.com/Frankenstein-Mary-Shelley/dp/0486282112• Blood Meridian: Or the Evening Redness in the West: https://www.amazon.com/Blood-Meridian-Evening-Redness-West/dp/0679728759• Stella Maris: https://www.amazon.com/Stella-Maris-Cormac-McCarthy/dp/0307269000• The Passenger: https://www.amazon.com/Passenger-Cormac-McCarthy/dp/0307268993/• Pale Fire: https://www.amazon.com/Pale-Fire-Vladimir-Nabokov/dp/0679723420...Episode resources continued at: https://www.generalist.com/p/maintaining-human-intelligence-in-the-ai-era-david-krakauer—Production and marketing by penname.co. For inquiries about sponsoring the podcast, email jordan@penname.co.

Salar al Khafaji is the CEO and founder of Monumental, a company building autonomous robots that assemble buildings, starting with its bricklaying system. After selling his previous software company to Palantir, Salar took time to explore big industries ripe for disruption before landing on construction—a sector that represents a significant portion of GDP yet has seen decades of productivity stagnation.We explore:• Why construction represents a massive opportunity for technological innovation• How Monumental's system of three robots works together to lay bricks autonomously• Why Europe's severe bricklayer shortage has created wages as high as €80/hour• The post-WWII shift away from beautiful architecture and how to bring it back• Why operating as a subcontractor rather than selling robots makes business sense• The challenges of building a hardware startup in Europe's tech ecosystem• How Palantir's "cult-like" culture influenced Monumental's approach to company building• The balance between structure and productive chaos in scaling a startup• Why the best robotics companies solve specific problems rather than building general-purpose machines• How to foster ambition in Europe's startup ecosystem—Thank you to the partners who make this possibleEnterpret: Transform feedback chaos into actionable customer intelligence.Brex: The banking solution for startups.Persona: Trusted identity verification for any use case.—Transcript: https://www.generalist.com/p/building-beautiful-homes-with-robots-salar-al-khafaji—Timestamps(00:00) Introduction to Salar(04:44) Overview of Monumental’s work and mission(06:25) Salar’s journey after selling his company to Palantir(11:46) Stagnation in the construction industry(14:21) The mental shift from software to hardware entrepreneurship(16:10) Salar’s funding framework(18:21) The post-WWII decline in constructing beautiful buildings(20:23) Choosing bricklaying as the first construction trade to tackle(25:20) Why Monumental operates as a subcontractor(28:38) The limitations of 3D printing and prefab construction(33:15) The technology and pricing bets Salar made(33:45) Lessons from Palantir's culture(39:35) Monumental's company culture(42:31) An overview of a construction job from start to finish(45:50) Precision and tolerances(47:50) Surprising challenges in the construction industry(49:10) The current state of Monumental and what’s next(54:00) Why humanoid robots don’t make sense for Monumental(56:16) Building an ambitious company in Europe(01:00:56) Monumental’s approach to hiring(01:03:10) The state of European tech and what needs to change(01:06:00) Salar’s optimistic take on the current state of tech in Europe(01:10:46) Final meditations—Follow Salar al KhafajiLinkedIn: https://www.linkedin.com/in/salark/X: https://x.com/salarWebsite: https://sal.ar/—Resources and episode mentions—Books—• Impro: Improvisation and the Theatre: https://www.amazon.com/Impro-Improvisation-Theatre-Keith-Johnstone/dp/0878301178• Liftoff: Elon Musk and the Desperate Early Days That Launched SpaceX: https://www.amazon.com/Liftoff-Desperate-Early-Launched-SpaceX/dp/0062979973• Seeing Like a State: How Certain Schemes to Improve the Human Condition Have Failed: https://www.amazon.com/Seeing-like-State-Certain-Condition/dp/0300078153• The Little Big Number: How GDP Came to Rule the World and What to Do about It: https://www.amazon.com/Little-Big-Number-World-about/dp/0691166528—Episode resources continued at: https://www.generalist.com/p/building-beautiful-homes-with-robots-salar-al-khafaji—Production and marketing by penname.co. For inquiries about sponsoring the podcast, email jordan@penname.co.

Sara Walker is a theoretical physicist who studies the origins of life and the author of Life as No One Knows It. As AI prompts us to rethink what consciousness, intelligence, and life really mean, Sara’s work offers a provocative framework for understanding these questions. In this conversation, Sara shares how she developed assembly theory—a revolutionary approach suggesting that complex objects like DNA molecules (and even microphones) are evidence of life’s processes.We explore:• Why Sara believes we need entirely new laws of physics to understand life• How assembly theory quantifies the transition from non-life to life with a measurable threshold• Why complex objects like DNA and microphones are evidence of evolutionary processes• How our perception of objects as “physical” or “abstract” depends on their temporal scale• Why traditional definitions of life fail as scientific frameworks• How assembly theory could revolutionize our search for extraterrestrial life• The surprising connection between urban atmospheres and biosignatures• Why Sara sees fundamental differences between computation and physical construction• How assembly theory views AI systems and large language models• The creative parallels between theoretical physics and conceptual art—Thank you to the partners who make this possibleTezi: The AI agent for recruiting high-quality candidates quicklyBrex: The banking solution for startups—Transcript: https://www.generalist.com/p/what-makes-something-alive-sara-walker—Timestamps(00:00) Intro(03:32) Sara’s background and approach to studying the origins of life(08:21) Sara’s journey to theoretical physics(11:40) How the “origin of life” field has evolved since she began her research(17:35) Introduction to assembly theory and its core principles(23:11) How assembly theory differs from traditional definitions of life(25:53) The historical parallels between assembly theory and Newtonian physics(31:45) Life vs. alive(34:33) How dabbling across disciplines led to Sara’s focus and partnership with Lee Cronin(40:43) The connection between theoretical physics and art(42:32) The probabilistic nature of assembly theory’s threshold(45:05) The time–size continuum(48:06) New threads that have emerged after Life as No One Knows It(50:27) Why assembly theory may be our best tool for finding life beyond Earth(54:04) The second feature of assembly theory: the copy number(55:39) The challenges of detecting life on exoplanets versus in our solar system(01:00:50) How recent AI developments have impacted Sara’s thinking about life(1:05:48) Whether large language models qualify as “life”(1:13:05) Final meditations—Follow Sara WalkerX: https://x.com/sara_imariLinkedIn: https://www.linkedin.com/in/saraimariwalker—Resources and episode mentions: https://www.generalist.com/p/what-makes-something-alive-sara-walker—Production and marketing by penname.co. For inquiries about sponsoring the podcast, email jordan@penname.co.

Eli Dourado is Head of Strategic Investments at Astera Institute, a foundation funding transformative science and technology across energy, aerospace, AI, and other frontier sectors. Before joining Astera, he worked as a "regulatory hacker" at Boom Supersonic, where he helped navigate complex aviation regulations to make supersonic flight viable again.In our conversation, we explore:• How Eli's refusal to be pigeonholed led to a career reviving forgotten technologies• How lifting the 1973 ban on supersonic flight could reshape aviation, after decades of stagnation and regression• Why airships need to be massive to be economical, and how they could transform global logistics• The untapped potential of geothermal energy and why drilling economics are the key bottleneck• Why titanium could be the next material to undergo a manufacturing revolution• How reading regulatory fine print can unlock trillion-dollar industries• Why AI might not automatically solve our productivity problems• The relationship between technological stagnation and potential civilizational collapse• The fascinating possibility of harvesting antimatter in space—Thank you to our sponsor: Brex—The banking solution for startups: https://www.brex.com/mario—Transcript: https://www.generalist.com/p/reviving-forgotten-technologies-eli-dourado—Timestamps(00:00) Intro and Eli's background(04:11) Eli’s work at Astera Institute(07:53) The frontier sectors Astera is betting on(08:57) Eli’s path from academia to tech investing(13:06) How Eli became involved with supersonic flight(15:42) Why the airline industry entered “the great regression”(18:38) The origins of the overland supersonic flight ban(20:37) Working as a "regulatory hacker" at Boom Supersonic(27:30) The current state of supersonic flight technology(30:40) Eli’s cargo airship research(37:20) What sparked Eli’s interest in airships(40:23) Why airships fell out of favor as a way to travel(42:53) How Jim Coutre found a path to profitable airships(47:00) The pros, cons, and profit potential of airship travel(50:08) A case for geothermal energy(55:37) Understanding the “idiot index” and scaling titanium production(58:36) Thoughts on AI and avoiding complacency(01:02:00) The risks fueling a potential societal collapse(01:06:10) Final meditations—Follow Eli DouradoNewsletter: https://www.elidourado.com/LinkedIn: https://www.linkedin.com/in/elidourado/X: https://x.com/elidourado—Resources and episode mentions: https://www.generalist.com/p/reviving-forgotten-technologies-eli-dourado⁠—Production and marketing by penname.co. For inquiries about sponsoring the podcast, email jordan@penname.co.

Hemant Taneja is the CEO and Managing Partner of General Catalyst, a venture capital firm that has evolved into what he describes as a "strategic conglomerate with venture capital at its core." Under his leadership, GC has expanded beyond traditional investing to become an organization focused on transforming entire industries from healthcare to call centers to insurance.In this conversation, Hemant unpacks General Catalyst's unusual structure and ambitious mission. He shares why his firm acquired the hospital system Summa Health in Ohio, why AI roll-ups will create some of the most valuable IPOs in the coming decade, and how servant leadership principles have reshaped his approach to building organizations.We explore:• How General Catalyst evolved from a traditional VC firm into a multi-business "strategic conglomerate"• Why Hemant believes the next decade requires completely rethinking what excellence means in company building• How GC's healthcare transformation company (HATCo) is working to reinvent the American healthcare system• Why GC made the unprecedented move to acquire Summa Health, a hospital system in Ohio• How servant leadership principles learned from Ken Chenault transformed Hemant's approach to building organizations• Why AI is accelerating transformation across industries faster than anyone predicted• How General Catalyst built its global seed practice through unusual acquisitions of La Famiglia, Venture Highway, and Wayfinder• Why Hemant believes AI roll-ups of labor arbitrage businesses will become some of the most valuable IPOs in the next decade• The changing profile of successful founders in an era of rapid technological change• How General Catalyst thinks about balancing profit and purpose across its portfolio—Thank you to our sponsor: Brex—The banking solution for startups.—Transcript: https://www.generalist.com/p/inside-general-catalyst-hemant-taneja—Timestamps00:00) Intro(02:16) General Catalyst’s ambition to help shape the future(04:23) How General Catalyst challenges founders to think bigger(06:05) GC's structure as a strategic conglomerate(10:44) Balancing profit and purpose in venture investing(12:19) The unusual role of CEO in a venture firm(15:11) How Hemant approaches decision-making in operations vs. investing(16:43) Lessons from Ken Chenault and the case for servant leadership at GC(20:55) What Hemant has learned from Amazon, McKinsey, and Nvidia’s cultures(23:37) The Berkshire Hathaway model—and how GC’s strategy differs(25:19) Why Hemant felt GC needed a fundamental rethink(28:33) What has changed since Hemant wrote his book on AI in 2018(31:07) Why great founders have shifted from hackers to iterative builders(32:55) The origin of HATCo and GC’s push into healthcare transformation(39:32) Why HATCo acquired Summa Health(43:48) What HATCo is planning next(46:30) Hemant’s thoughts on policy and responsible AI self-governance(48:49) Europe’s AI lag, the cloud wave it missed, and the case for sovereign infrastructure(52:38) Why companies move to the US(54:22) How to transform traditional industries with AI(56:37) Rollout vs. buyout, and why starting small makes more sense now(58:56) How rapid model progress unlocks new opportunities to reinvent businesses(1:01:10) What companies need to be good partners in the creation portfolio incubator(1:05:13) Why General Catalyst made rare acquisitions based on deep conviction in people(1:11:34) Final meditations—Follow Hemant TanejaLinkedIn: https://www.linkedin.com/in/hemanttanejaX: https://x.com/htaneja—Resources and episode mentions: https://www.generalist.com/p/inside-general-catalyst-hemant-taneja—Production and marketing by penname.co. For inquiries about sponsoring the podcast, email jordan@penname.co.

Jesse Walden is the founder and managing partner of Variant Fund, an early-stage crypto fund backing projects like Uniswap, Phantom, World, Morpho, Flashbots, Farcaster, Blockaid, Blackbird, and many more. Before launching Variant in 2020, he was an investor at a16z crypto, where he supported early-stage builders shaping the future of Web3.In this episode, Jesse offers a wide-ranging view of where crypto stands today, and where it’s headed. He unpacks the rise of stablecoins, the role of meme coins in capturing attention, and why NFTs are evolving rather than disappearing. We explore the challenges of interoperability between blockchains, the shift from invention to productization, and the intersection of crypto and AI, two technologies that may supercharge one another’s progress.In our conversation, we explore:• The fundamental difference between AI (technology of abundance) and crypto (technology of scarcity), and why the two technologies are complementary• How the GENIUS Act is transforming the regulatory landscape for stablecoins and creating unprecedented bipartisan support• How DAOs 2.0 will return to their original vision: automation at the center with humans at the edges• How meme coins generate hype and the value of attention• Why user experience still holds Web3 back and what needs to change• What still needs to be solved to scale crypto, including true cross-chain interoperability—Thank you to our sponsor: Brex—The banking solution for startups.—Transcript: https://www.generalist.com/p/the-future-of-crypto-jesse-walden—Timestamps(00:00) Intro(02:19) An overview of Variant’s work(03:03) Jesse’s vision of a tokenized future and why it makes sense(06:19) The state of crypto since 2022(10:46) The GENIUS Act: what it is and how it could reshape stablecoins(14:28) How stablecoins are both a payment tool and a communication layer(17:07) Why stablecoins are not yet convenient in the US(19:06) Variant’s investment in stablecoins and blockchains(21:33) The policy and regulation crypto still needs to mature(24:15) Speculation vs. stablecoins(27:06) Meme coins and the attention economy(31:53) The shift from invention to productization(33:47) How the user experience is evolving in crypto, and what’s still needed(38:15) Phantom and other companies Jesse is bullish on(42:20) The short-term dip and long-term rise in developer talent(47:48) Jesse’s heuristic for determining a founder’s passion in the crypto space(50:37) Where AI and crypto collide (and what they can do for each other)(56:48) Why there’s still opportunity for NFTs(01:01:57) An explanation of DAOs and DAO 2.0’s opportunity for humans(01:07:04) Final meditations—Follow Jesse WaldenX: https://x.com/jessewldnLinkedIn: https://www.linkedin.com/in/jessewalden/Website: https://jessewalden.com/—Resources and episode mentions—Books—• Narrative Economics: How Stories Go Viral and Drive Major Economic Events: https://www.amazon.com/Narrative-Economics-Stories-Economic-Events/dp/0691182299• The White Paper: https://www.amazon.com/The-White-Paper/dp/1999675924—People—• Sam Altman on X: https://x.com/sama• Vitalik Buterin on X: https://x.com/vitalikbuterin—Other resources—• Bitcoin: https://bitcoin.org• Stablecoin: https://en.wikipedia.org/wiki/Stablecoin• Beyond Speculation and Stablecoins: Crypto's Next Phase?: https://jessewalden.com/beyond-speculation-and-stablecoins-cryptos-next-phase/• What is DeFi?: https://www.coinbase.com/learn/crypto-basics/plp-what-is-defi• Morpho: https://morpho.org/• Pump.fun: https://pump.fun/• Zora: https://zora.co/• Docker: https://www.docker.com/• Privy: https://www.privy.io/• Stripe: https://stripe.com/• Kraken: https://www.kraken.com/• Phantom: https://phantom.com/...References continued at: https://www.generalist.com/p/the-future-of-crypto-jesse-walden—Production and marketing by penname.co. For inquiries about sponsoring the podcast, email jordan@penname.co.

What’s next for AI agents, and how will they change the way we work? In this conversation, Stanislas Polu (CEO of Dust, formerly research at OpenAI) and Harrison Chase (CEO of LangChain, one of the most influential open-source AI frameworks) unpack the current state and future of AI agents. They reflect on their early conversations in the pre-ChatGPT days, how the landscape has evolved, and where it's headed next.Stan and Harrison share lessons from building today’s agent infrastructure—from chat interfaces to the future of ambient, autonomous systems—and discuss the challenges of operating in the chaotic "fog of AI." We dig into the open questions, early insights, and messy realities of building in today’s fast-moving AI landscape.In our conversation, we explore:• What sparked Stan and Harrison’s early interest in LLMs• The pre-ChatGPT era and how the AI landscape has evolved since late 2022• High-leverage use cases for agents inside Dust and LangChain today• The critical differences between AI workflows and true agents—and why agents may unlock more powerful, long-term solutions• Why reliability is the main blocker to ambient agents• Real-world enterprise use cases for AI agents across customer support, sales, and engineering• How to build in the “fog of AI” and the challenge of maintaining product vision when foundations shift every six months• Strategies for creating defensibility in a world where tech giants can quickly replicate features• The future of multi-agent systems and how they could transform enterprise productivity• The current state of the AI talent market• And much more—Thank you to our sponsor: Brex—The banking solution for startups.—Transcript: https://www.generalist.com/p/the-evolution-of-ai-agents—Timestamps(00:00) Intro(02:33) Brief overviews of Dust and LangChain(03:30) The early days of LLM product development(11:02) Harrison's journey to founding LangChain(14:35) Dust's evolution and focus on enterprise productivity(17:15) Tobi’s AI memo(18:42) An overview of AI agents and how they differ from AI workflows(26:43) High-leverage use cases for agents at Dust and LangChain(30:41) How to interact with agents and an explanation of ambient agents(36:21) What the future of agents may look like(40:52) Current limitations of AI agents and reliability challenges(45:40) Will we converge to one agent or many specialized ones?(51:32) How to solve the sycophant problem(56:04) The challenges of building AI companies in a rapidly changing landscape(01:03:06) Recent AI talent acquisitions and market dynamics(01:05:28) How Dust and LangChain attract talent(01:09:12) How far off AGI may be(01:12:52) Final meditations—Follow Stanislas PoluLinkedIn: https://www.linkedin.com/in/spolu/X: https://x.com/spolu—Follow Harrison ChaseLinkedIn: https://www.linkedin.com/in/harrison-chase-961287118/X: https://x.com/hwchase17—Resources and episode mentions: https://www.generalist.com/p/the-evolution-of-ai-agents—Production and marketing by penname.co. For inquiries about sponsoring the podcast, email jordan@penname.co.

Tomasz Tunguz has spent almost two decades turning data into investment insights. After an impressive run at Redpoint Ventures, where he backed Looker, Expensify, Monte Carlo, and more, Tomasz launched Theory Ventures in 2022. His debut fund, which closed at $238 million, was followed 19  months later by a $450 million second fund.Theory’s goal is simple but striking: to build an “investing corporation” where researchers, engineers, and operators sit alongside investors, arming the partnership with real‐time market maps, in‑house AI tooling, and domain expertise. Centered on data, AI, and crypto infrastructure, the firm operates at the very heart of many of today’s most consequential technological shifts.In our conversation, we explore:• How Theory’s “investing corporation” model works• Why crypto exchanges could create a viable path to public markets for small-cap software companies• The looming power crunch—why data centers could consume 15% of U.S. electricity within five years• Stablecoins’ rapid ascent as major banks route 5‑10% of U.S. dollars through them• Why Ethereum faces an existential challenge similar to AWS losing ground to Azure in the AI era• Why Tomasz believes today’s handful of agents will become 100+ digital co‑workers by year‑end• Why Meta is betting billions on AR glasses to change how we interact with machines• How Theory Ventures uses AI to accelerate market research, deal analysis, and investment decisions• Much more—Thank you to the partners who make this possibleBrex: The banking solution for startups.Generalist+: Essential intelligence for modern investors and technologists.—Transcript: https://www.generalist.com/p/the-decade-of-data-with-tomasz-tunguzh-h-tomasz-tunguz—Timestamps(00:00) Intro(03:37) Tomasz's background and journey to founding Theory Ventures(04:57) Theory's data-driven approach to venture(09:25) The importance of functional experts on investment teams(11:45) Theory's focus on data systems and why they matter(15:02) The decade of data(18:40) The challenges of chip-level investment(20:11) The state of crypto(23:30) How crypto could accelerate IPO timelines(28:12) Tokenized secondaries and venture capital’s evolution(32:18) Ethereum's challenges against competitors like Solana(37:25) Hyperliquid(38:38) The shift from proof of work to proof of stake to proof of authority(41:20) How Tomasz uses AI for personal productivity(45:03) How Theory Ventures uses AI internally(49:41) The future of work with AI agents(52:42) The current state of the AI race between Microsoft, Google, and Meta(58:28) Final meditations—Follow Tomasz TunguzWebsite: https://tomtunguz.com/LinkedIn: https://www.linkedin.com/in/tomasztunguz/X: https://x.com/ttunguz—Resources and episode mentions—Book—• Narcissus and Goldmund: https://www.amazon.com/Narcissus-Goldmund-Hermann-Hesse/dp/0553275860—People—• Patrick O’Grady on X: https://x.com/_patrickogrady—Other resources—• Theory Ventures: https://theory.ventures/• Insight Partners: https://www.insightpartners.com/• Palantir: https://www.palantir.com/• Databricks: https://www.databricks.com/• Snowflake: https://www.snowflake.com/• Ethereum: https://ethereum.org• Solana: https://solana.com/• Jamie Dimon blasts crypto, tells Senate he would ‘close it down’—even as JPMorgan pushes forward with blockchain payments: https://fortune.com/crypto/2023/12/06/jamie-dimon-crypto-senate-hearing-jpmorgan-blockchain-payments/• Robinhood: https://robinhood.com/• Coinbase: https://www.coinbase.com/• Uniswap: https://app.uniswap.org/• Sarbanes-Oxley Act: https://en.wikipedia.org/wiki/Sarbanes%E2%80%93Oxley_Act• ASX: https://www.asx.com.au/...Episode resources continued at: https://www.generalist.com/p/the-decade-of-data-with-tomasz-tunguzh-h-tomasz-tunguz—Production and marketing by penname.co. For inquiries about sponsoring the podcast, email jordan@penname.co.

I'm thrilled to share this very special episode of The Generalist—one I've been looking forward to for a long time. Today, we tackle one of the most urgent questions of our time: What should computing look like in the age of AI?I'm joined by two extraordinary guests: Alan Kay, a pioneer of modern computing whose vision helped shape the personal computer revolution, and Anjan Katta, founder of Daylight, who's building a radically reimagined personal computer designed for deep thinking in our AI-saturated world. This conversation has been months in the making, and I couldn't be more excited to bring these two brilliant minds together.We explore how artificial intelligence is reshaping our relationship with computers, whether current computing paradigms serve us well as AI becomes ubiquitous, and what new models of human-computer interaction we might need to thrive alongside intelligent machines.This is a conversation about reclaiming agency in an age of algorithms—and imagining computing tools that amplify human intelligence rather than replace it. I think you're going to love it.We explore:• Why Alan believes the "computer revolution" commercialized in the wrong direction, missing the deeper humanistic vision of early computing pioneers• How the structure of information, from pagination to platforms, shapes the way we think• How Daylight is creating a reading and writing-focused device that helps access our "prefrontal cortex" rather than our "lizard brain"• The concept of a magical medium, and how computing might help us become our best selves• Why Marshall McLuhan's media theories predicted our current technological predicament decades before it happened• The critical difference between intelligence and wisdom in computing systems, and why wisdom should be our focus• How thoughtful constraints in computing design can lead to better thinking and more meaningful interaction• The urgency of developing systems thinking in a world facing complex challenges• And much more—Transcript: https://thegeneralist.substack.com/p/why-the-real-computer-revolution-never-happened—Thank you to the partners who make this possibleAugment Code: AI coding assistant that pro engineering teams love.Brex: The banking solution for startups.Generalist+: Essential intelligence for modern investors and technologists.—Timestamps(00:00) Intro(05:17) The computer revolution we never got (and what we got instead)(11:45) The value of writing and the impact of the printing press(21:34) The addition of pagination and the evolution of arguments(24:53) Why Anjan calls his idealized version of computing a magical medium(29:00) Alan’s work at PARC and early conceptions of personal computing(32:02) Moore’s Law and the impact of reality TV(37:41) How Bob Barton and Marshall McLuhan influenced Alan(42:31) The problem with labels and what Anjan found surprising about Alan(46:02) How much help is too much help?(48:18) Marvin Minsky's military robot story and the history of misunderstanding AGI(51:50) What we need help with and why wisdom is hard to scale(54:19) How Daylight approaches computing with humility and thoughtful constraints(59:13) Alan's reflections on the Dynabook concept and personal computing vision(01:01:11) The timeline of building Daylight and the idealism behind the project(01:03:14) The urgent need for different thinking(01:06:40) A second shot at rebuilding computing from the ground up(01:11:57) Final meditations—Follow Alan KayLinkedIn: https://www.linkedin.com/in/alan-kay-12a627b/Quora: https://www.quora.com/profile/Alan-Kay-11—Follow Anjan KattaLinkedIn: https://www.linkedin.com/in/anjan-katta-250b232b4/X: https://x.com/anjankatta—Resources and episode mentions: https://www.generalist.com/p/why-the-real-computer-revolution-never-happened—Production and marketing by penname.co. For inquiries about sponsoring the podcast, email jordan@penname.co.

Today’s podcast is a little different. Instead of a new interview, you’ll hear Part I of “No Rivals,” The Generalist’s definitive four-part deep dive into Founders Fund — Silicon Valley’s most controversial (and consistently top-performing) venture firm.—What’s inside Part I• How Peter Thiel and team set out to rewrite VC’s playbook• The contrarian philosophy behind their earliest bets• The people, power dynamics, and inflection points that shaped the firm—Want the full story?Parts II–IV (a 3h 15m extended cut packed with performance data and insider interviews) are available to Generalist Premium members. Join here → generalist.com/subscribe—As a Premium member, you’ll also unlock:• Case studies on Kleiner Perkins, USV, Tiger Global, and more• Exclusive interviews• Private startup databases• Tactical operator guides•  And moreAll designed to give you an investing and operating edge.—Skip ahead(00:00) Intro(01:30) PART I: THE PROPHET(05:42) Pals(11:16) Spite Store (18:21) Clarium Calls(21:57) Gate-Crasher(28:55) Parker(40:22) Moonshots

How close are we to the end of humanity? Toby Ord, Senior Researcher at Oxford University’s AI Governance Initiative and author of The Precipice, argues that the odds of a civilization-ending catastrophe this century are roughly one in six. In this wide-ranging conversation, we unpack the risks that could end humanity’s story and explore why protecting future generations may be our greatest moral duty.We explore:• Why existential risk matters and what we owe the 10,000-plus generations who came before us• Why Toby believes we face a one-in-six chance of civilizational collapse this century• The four key types of AI risk: alignment failures, gradual disempowerment, AI-fueled coups, and AI-enabled weapons of mass destruction• Why racing dynamics between companies and nations amplify those risks, and how an AI treaty might help• How short-term incentives in democracies blind us to century-scale dangers, along with policy ideas to fix it• The lessons COVID should have taught us (but didn’t)• The hidden ways the nuclear threat has intensified as treaties lapse and geopolitical tensions rise• Concrete steps each of us can take today to steer humanity away from the brink—Transcript: https://www.generalist.com/p/existential-risk-and-the-future-of-humanity-toby-ord—This episode is brought to you by Brex: The banking solution for startups.—Timestamps(00:00) Intro(02:20) An explanation of existential risk, and the study of it(06:20) How Toby’s interest in global poverty sparked his founding of Giving What We Can(11:18) Why Toby chose to study under Derek Parfit at Oxford(14:40) Population ethics, and how Parfit’s philosophy looked ahead to future generations(19:05) An introduction to existential risk(22:40) Why we should care about the continued existence of humans(28:53) How fatherhood sparked Toby’s gratitude to his parents and previous generations(31:57) An explanation of how LLMs and agents work(40:10) The four types of AI risks(46:58) How humans justify bad choices: lessons from the Manhattan Project(51:29) A breakdown of the “unilateralist’s curse” and a case for an AI treaty(1:02:15) Covid’s impact on our understanding of pandemic risk(1:08:51) The shortcomings of our democracies and ways to combat our short-term focus(1:14:50) Final meditations—Follow Toby OrdWebsite: https://www.tobyord.com/LinkedIn: https://www.linkedin.com/in/tobyordX: https://x.com/tobyordoxford?lang=enGiving What We Can: https://www.givingwhatwecan.org/—Resources and episode mentions—Books—• The Precipice: Existential Risk and the Future of Humanity: https://www.amazon.com/dp/0316484911• Reasons and Persons: https://www.amazon.com/Reasons-Persons-Derek-Parfit/dp/019824908X• Practical Ethics: https://www.amazon.com/Practical-Ethics-Peter-Singer/dp/052143971X—People—• Derek Parfit: https://en.wikipedia.org/wiki/Derek_Parfit• Carl Sagan: https://en.wikipedia.org/wiki/Carl_Sagan• Stuart Russell: https://en.wikipedia.org/wiki/Stuart_J._Russell—Other resources—• DeepMind: https://deepmind.google/• OpenAI: https://openai.com/• Manhattan Project: https://en.wikipedia.org/wiki/Manhattan_Project• The Unilateralist’s Curse and the Case for a Principle of Conformity: https://nickbostrom.com/papers/unilateralist.pdf• The Nuclear Non-Proliferation Treaty (NPT), 1968: https://history.state.gov/milestones/1961-1968/npt• The Blitz: https://en.wikipedia.org/wiki/The_Blitz• Operation Warp Speed: https://en.wikipedia.org/wiki/Operation_Warp_Speed—Production and marketing by penname.co. For inquiries about sponsoring the podcast, email jordan@penname.co.

Why search for life beyond Earth? For MIT astrophysicist and MacArthur Genius Fellow Sara Seager, it’s not just a scientific question—it’s a deeply human one. Like creating art or studying philosophy, the search taps into our primal curiosity about who we are and whether we’re alone. Sara is a pioneer in the field of exoplanets: planets that orbit stars other than our Sun. Her early work was met with skepticism. Today, she’s one of the most respected voices in the field, with discoveries that have redefined our understanding of the universe. From detecting alien atmospheres to reimagining where life might exist, she shares how entrepreneurial thinking and intuition are fueling groundbreaking discoveries.In our conversation, we explore:• An explanation of exoplanets and the importance of their discovery• The key technologies that enabled exoplanet detection• Sara’s controversial discovery of phosphine gas in Venus's atmosphere and why it could be a sign of life• An overview of Project Starshade, why NASA has currently shelved it, and why Sara continues to work on it anyway• How scientific innovation often requires challenging authority and conventional wisdom• How Sara approaches her research portfolio like an investment strategy, but with an inverse risk profile• Why AI may someday explore planets we’ll never reach—and what that means for humanity• Much more!—For a full transcript of the episode, please visit: https://www.generalist.com/p/are-we-alone-in-the-universe-sara-seager—Thank you to the partners who make this possibleAugment Code: AI coding assistant that pro engineering teams love.Brex: The banking solution for startups.—Timestamps(00:00) Intro(04:07) What is an exoplanet?(04:33) The diverse types of exoplanets, including the common Sub-Neptune type(06:40) Why the search for habitable planets matters(08:57) The timeline for finding life outside of Earth(10:15) Parallels between professors and entrepreneurs(11:37) Sara’s background and inspirations(15:48) Why the study of exoplanets was initially viewed with skepticism(18:38) Technology breakthroughs enabling exoplanet discovery(21:05) Looking for atmospheric signals as signs of life(25:48) The K2-18b debate and challenges of detecting life(31:10) The Venus Life Finder Initiative and phosphine discovery(37:38) The mission to explore Venus's atmosphere(39:20) Goals of the first missions and the inspiration from a prior Soviet balloon mission(41:58) An overview of the Starshade project(47:44) Applications from the Venus mission that may benefit Earth(48:50) Sara's scientific "investment portfolio" and the impact of the MacArthur grant(52:46) The power of intuition(56:09) Formative lessons from Sara’s childhood(59:04) How Sara uses AI for administrative tasks(01:00:38) The evolution of AI(01:01:50) Sara’s speculation on life beyond Earth(01:03:24) Where Sara's best ideas come from(01:04:02) Final meditations—Follow Sara SeagerLinkedIn: https://www.linkedin.com/in/sara-seager-1352b85/Website: https://www.saraseager.com/—Resources and episode mentions—Books—• The Smallest Lights in the Universe: A Memoir: https://www.amazon.com/Smallest-Lights-Universe-Memoir/dp/0525576258• The Giver: https://www.amazon.com/Giver-Quartet-Lois-Lowry/dp/0544336267—People—• John Bahcall: https://en.wikipedia.org/wiki/John_N._Bahcall—Other resources—• Exoplanets: https://science.nasa.gov/exoplanets/• Sub-Neptune: https://en.wikipedia.org/wiki/Sub-Neptune• NASA’s Asteroid Bennu Sample Reveals Mix of Life’s Ingredients: https://www.nasa.gov/news-release/nasas-asteroid-bennu-sample-reveals-mix-of-lifes-ingredients/• Seager Hair Transplant Centre: https://www.seagerhairtransplant.com/• Kepler: https://science.nasa.gov/mission/kepler/...Resources continued at: https://www.generalist.com/p/are-we-alone-in-the-universe-sara-seager—Production and marketing by penname.co. For inquiries about sponsoring the podcast, email jordan@penname.co.

Some ideas spread like wildfire. Others vanish before they take root—too strange, too threatening, too forgettable. In this episode of The Generalist, I sit down with Nadia Asparouhova, author of Antimemetics: Why Some Ideas Resist Spreading, to explore the category of “antimemes”: ideas that actively resist being remembered or shared. Drawing from science fiction, epidemiology, and her own unusual cognitive wiring, Nadia maps the shadowy terrain of information that doesn’t want to be shared. We talk about taboos, group chat dynamics, and the hidden incentives shaping what spreads and what doesn’t.In our conversation, we explore:• What antimemes are and why some ideas actively resist being remembered or shared• How taboos, cognitive biases, and uncomfortable truths function as self-censoring ideas• The 2x2 matrix of ideas: memes, antimemes, supermemes, and forgettable non-memes• How group chats are changing idea evolution by acting as high-trust, high-density incubators• How internet slang terms like “vibes” and “cringe” reflect deeper shifts in how we share information• Why great innovation often comes from people willing to look foolish• The critical roles of "truth tellers" and "champions" in preserving important ideas• How memory, aphantasia, and synesthesia shaped Nadia’s sensitivity to forgotten ideas• How local knowledge (wisdom) differs from global knowledge (facts), and why it’s harder to pass down• How Nadia’s experience as a parent shifted her thinking from nurture to nature• How to protect your mental space in an age of information overload—Thank you to the partners who make this possibleWorkOS: The modern identity platform for B2B SaaS.Brex: The banking solution for startups.Generalist+: Essential intelligence for modern investors and technologists.—Timestamps(00:00) Intro(04:45) A brief overview of Nadia’s writing(06:24) Richard Dawkins’s definition of a meme(08:02) Antimemes and a brief overview of the book There Is No Antimemetics Division(11:54) Why daylight savings time is the perfect antimeme(13:13) How neurodivergence shapes Nadia’s creativity(16:20) Synesthesia explained(18:02) Solomon Shereshevsky, a case of extreme synesthesia(18:52) Why forgetting can be a superpower(22:45) Why some ideas spread and others do not(25:11) The 2x2 matrix of ideas(27:20) A warning about supermemes(29:43) Group chats and the evolution of ideas(34:44) Are supermemes organic or engineered?(40:43) The role of truth tellers and champions(45:38) What it means to have “purity of purpose”(46:48) Nadia’s experience with altered states of consciousness, and an example of a champion(51:02) How Nadia’s fear of sharing has lessened, and a case for examining your own fears(52:51) Understanding the internet slang words “vibes” and “cringe”(57:35) Global vs. local knowledge and how it shapes Nadia’s parenting(1:05:01) Where Nadia finds her ideas(1:08:40) How Nadia protects her time to allow for deep work(1:12:38) Final meditations—Follow Nadia AsparouhovaNewsletter: https://nayafia.substack.com/LinkedIn: https://www.linkedin.com/in/nadia-asparouhova/X: https://x.com/nayafia—Resources and episode mentions—Books—• Antimemetics: Why Some Ideas Resist Spreading: https://www.amazon.com/Antimemetics-Some-Ideas-Resist-Spreading-ebook/dp/B0F8J9HHCB• There Is No Antimemetics Division: https://www.amazon.com/There-No-Antimemetics-Division-qntm/dp/B0915M7T61\• A Primer for Forgetting: Getting Past the Past: https://www.amazon.com/Primer-Forgetting-Getting-Past/dp/0374237212• René Girard's Mimetic Theory: https://www.amazon.com/Girards-Mimetic-Studies-Violence-Mimesis/dp/1611860776...Episode resources continued at: https://www.generalist.com/p/antimemetics-nadia-asparouhova—Production and marketing by penname.co. For inquiries about sponsoring the podcast, email jordan@penname.co.

While the world fights over chips, one company is building the power supply to run them all. In this episode of The Generalist, I'm joined by Bob Mumgaard, CEO and co-founder of Commonwealth Fusion Systems (CFS), and Vinod Khosla, legendary venture capitalist and founder of Khosla Ventures. With over 800 employees and $2 billion in funding, CFS has accelerated the timeline for commercial fusion from being perpetually "30 years away" to potentially just a few years out. If CFS succeeds, it will unlock limitless clean energy for humanity, powering everything from AI to water desalination.In our conversation, we explore:• How fusion could transform everything from AI to water desalination and agriculture• The fundamental science behind fusion energy and how it differs from traditional nuclear fission• The breakthrough in magnet technology that changed the timeline for fusion• The strategic approach of partnering with existing power plant operators to rapidly scale fusion deployment• Why fusion is essential for powering AI and other energy-intensive innovations• CFS’s method for creating fusion using magnetic fields• The final hurdles to completing SPARC, the company’s demonstration reactor• The six-stage roadmap for fusion development, where CFS currently stands, and when they expect to begin delivering power to the grid• What clean energy could make possible for future technologies and industries• The geopolitical implications of a world with abundant clean energy• Much more—Transcript: https://www.generalist.com/p/creating-stars-in-a-bottle—Thank you to the partners who make this possible⁠Brex⁠: The banking solution for startups.⁠Generalist+⁠: Essential intelligence for modern investors and technologists.—Timestamps(00:00) Intro(04:13) An overview of fusion energy, and why it’s so important(08:23) The connection between AI and fusion energy(10:20) How Bob became interested in fusion(13:06) The importance of entrepreneurs in bringing crazy ideas to life(14:55) The advancement in magnets that caused the leap in fusion technology(17:33) The extreme conditions required for fusion(19:46) What made Vinod interested in funding CFS(21:30) The alternatives that CFS looked at if the magnet hadn’t worked(25:18) Different methods for creating fusion(27:43) Bob’s entrepreneurial lens for fusion at scale(31:52) CFS’s strategy of partnering with existing power infrastructure(35:32) An overview of ARC and SPARC(40:03) Final hurdles to complete SPARC(42:29) The six-stage roadmap for fusion development(46:11) What clean energy unlocks(48:06) Entrepreneurial opportunities for supporting fusion power(50:43) Final meditations—Follow Vinod KhoslaLinkedIn: ⁠https://www.linkedin.com/in/vinod-khosla-65387416/⁠X: ⁠https://x.com/vkhosla⁠—Follow Bob MumgaardLinkedIn: ⁠https://www.linkedin.com/in/mumgaard/⁠X: ⁠https://x.com/BobMumgaard⁠—Resources and episode mentions—Books—• Unweaving The Rainbow: Science, Delusion and the Appetite for Wonder: ⁠https://www.amazon.com/Unweaving-Rainbow-Science-Delusion-Appetite/dp/0618056734⁠• The Intel Trinity: How Robert Noyce, Gordon Moore, and Andy Grove Built the World's Most Important Company: ⁠https://www.amazon.com/Intel-Trinity-Robert-Important-Company/dp/0062226762⁠—People—• Elon Musk on X: ⁠https://x.com/elonmusk⁠—Other resources—• Commonwealth Fusion Systems: ⁠https://cfs.energy/⁠• Sun Microsystems: ⁠https://en.wikipedia.org/wiki/Sun_Microsystems⁠• OpenAI: ⁠https://openai.com/⁠• Moore’s Law: ⁠https://en.wikipedia.org/wiki/Moore%27s_law⁠• The Hunt for Red October: ⁠https://www.imdb.com/title/tt0099810/⁠• Magnetohydrodynamic drive: ⁠https://en.wikipedia.org/wiki/Magnetohydrodynamic_drive⁠• ITER: ⁠https://www.iter.org/⁠...Resources continued at: https://www.generalist.com/p/creating-stars-in-a-bottle—Production and marketing by ⁠penname.co⁠. For inquiries about sponsoring the podcast, email jordan@penname.co.

What really determines success in the age of AI? Is it better models or broader reach? Chris Miller, author of the bestselling book Chip War, explains how semiconductors have become the strategic center of gravity for global power, economics, and innovation. As a professor at the Fletcher School at Tufts University, Chris has spent nearly a decade studying how chips are reshaping geopolitics and why they're essential to understanding everything from military capabilities to artificial intelligence.In our conversation, we explore:• Why diffusion and adoption of technology are more important markers of impact than actual capabilities• What most people got wrong about DeepSeek's breakthrough, but why China's AI talent still matters• Huawei's surprising transformation from telecom giant to potential AI powerhouse• The critical role India and Southeast Asia may play in chip manufacturing• How the Trump administration's policies will impact the technological battle• Why China will likely achieve semiconductor self-sufficiency in mainstream chips within five years• Barriers to rebuilding a domestic chip industry in the US• The massive infrastructure investments being made in AI computing power• The implications of Stargate• And much more!—For a full transcript of the episode, please visit: https://thegeneralist.substack.com/p/the-semiconductor-century-with-chris-miller—Thank you to the partners who make this possibleGeneralist+: Essential intelligence for modern investors and technologists.Explo: Customer-facing analytics for any platform.—Timestamps(00:00) Intro(04:06) A brief overview of Chip War(06:10) Why Chris believes we are on the cusp of a new technological era(08:03) Why the diffusion of technology is the true marker of impact(09:29) Chris’s thoughts on enterprise adoption of AI(11:03) Chris's personal use of AI tools(12:24) The significance of DeepSeek and China's AI capabilities(17:05) The main players in the Chinese AI space(18:34) A case for Huawei as a full-stack player(20:33) LLM price trends, and why DeepSeek isn't assured to win emerging markets(22:19) Key drivers of software success, and how that might translate to AI(24:42) US AI market: Chris's insights on who will gain dominance(27:38) The concept of sovereign AI models and their viability(32:33) Trump vs. Biden on AI policy(34:52) Progress in diversifying semiconductor manufacturing(37:04) The challenges facing Intel and its future(38:55) What to watch for in the semiconductor race, and China’s move towards self-sufficiency(45:09) The advanced packaging trend(46:34) Solving for increased energy needs(50:05) The implications of the Stargate project, and what we still don’t know(52:44) The motivation behind Silicon Valley empire builders(56:10) AI's unique appeal to tech leaders' ambitions(58:03) Final meditations—Follow Chris MillerLinkedIn: https://www.linkedin.com/in/chris-miller-93004923/Twitter: https://x.com/crmiller1Website: https://www.christophermiller.net/—Resources and episode mentions—Books—• Chip War: The Fight for the World's Most Critical Technology: https://www.amazon.com/Chip-War-Worlds-Critical-Technology/dp/1982172002• Isaac Newton: https://www.amazon.com/Isaac-Newton-James-Gleick/dp/1400032954• A Brief History of Intelligence: Evolution, AI, and the Five Breakthroughs That Made Our Brains: https://www.amazon.com/Brief-History-Intelligence-Humans-Breakthroughs/dp/0063286343/For a full list of resources and episode mentions, please visit: https://thegeneralist.substack.com/p/the-semiconductor-century-with-chris-miller—Production and marketing by penname.co. For inquiries about sponsoring the podcast, email jordan@penname.co.

What happens when you apply Silicon Valley’s speed and innovation to reinvent defense technology? Trae Stephens, co-founder of Anduril, is running that experiment in real-time. His company creates software-driven, hardware-enabled autonomous systems designed to transform national security capabilities amid growing global tensions.In today's episode, Trae and I dive deep into the ethics of warfare, technology's evolving role in national defense, the complexities of Great Power conflict with China, and how Trae’s personal faith shapes his vision for responsible innovation.We explore:• An overview of Anduril's mission and platform• A look at the "Four Americas" and why we need a strong military• How Trae uncovered gaps in intelligence that led to Anduril’s founding• The “don’t work at Anduril” campaign and how transparency filters talent• A glimpse at Anduril’s reading list and the case for organizational reading lists• An overview of Lattice, the software behind every platform Anduril builds• Why too much innovation can be a problem• How Anduril took over the IVAX project from Microsoft• Why single domain defense companies won’t win• An overview of Just War Theory, and how it guides Anduril’s mission• How the U.S. is stacking up against China’s intelligence and military• How Anduril’s mission is compatible with Trae’s faith• Lessons from Peter Thiel, Alex Karp, and Palmer Luckey• And much more!—Transcript: https://thegeneralist.substack.com/p/how-anduril-is-reimagining-the-defense-industry-trae-stephens—Thank you to the partners who make this possibleVanta: Automate compliance and simplify security.WorkOS: The modern identity platform for B2B SaaS.Brex: The banking solution for startups.—Timestamps(00:00) Intro(04:33) An overview of Anduril(05:31) The surprising way Trae got into Georgetown(11:58) Trae’s work with computational linguistics(13:37) “The four Americas” and why we need a strong military(16:05) How Trae uncovered gaps in intelligence and military that prompted Anduril’s founding(20:49) Why the incentive structure in the defense industry wasn’t working(23:08) An overview of Anduril’s leadership(25:53) The first Anduril office and how they approach hiring(31:13) The Anduril reading list(34:23) Anduril’s building philosophy, and the software behind all their products(38:45) How Anduril partners with DOD to understand what to build(41:21) Why too much innovation is not sellable(45:29) How Anduril took over the IVAS program from Microsoft(47:57) The future of weaponry(51:26) Anduril’s growth strategy: buying and building(55:02) The single domain companies Trae is excited about(58:44) How the US stacks up against China(1:05:20) Trae’s thoughts on conflict resolution and the current administration’s approach(1:08:14) How Anduril’s work in Europe may change(1:09:37) Why Trae believes his work aligns with his faith(1:12:39) An overview of “Just War Theory”(1:15:38) Lessons from Peter Thiel, Alex Karp, and Palmer Luckey(1:19:05) Final meditations—Follow Trae StephensX: https://x.com/traestephensLinkedIn: https://www.linkedin.com/in/trae-stephens-485a811/—Resources and episode mentions—Books—• Hillbilly Elegy: A Memoir of a Family and Culture in Crisis: https://www.amazon.com/Hillbilly-Elegy-Memoir-Family-Culture/dp/0062300547• The Looming Tower: Al-Qaeda and the Road to 9/11: https://www.amazon.com/Looming-Tower-Al-Qaeda-Road-11/dp/1400030846• Impro: Improvisation and the Theatre 1st Edition: https://www.amazon.com/Impro-Improvisation-Theatre-Keith-Johnstone/dp/0878301178• The Kill Chain: Defending America in the Future of High-Tech Warfare Hardcover: https://www.amazon.com/Kill-Chain-Defending-America-High-Tech/dp/031653353X...Resources continued at: https://thegeneralist.substack.com/p/how-anduril-is-reimagining-the-defense-industry-trae-stephens—Production and marketing by penname.co. For inquiries about sponsoring the podcast, email jordan@penname.co.

In a world where attention is fragmented and algorithms rule the content landscape, Chris Best and Hamish McKenzie are taking a radically different approach with Substack. Rather than chasing clicks, Substack focuses on a simple yet powerful idea: creators should own their work and make money directly from their audience through paid subscriptions. With over 5 million paid subscriptions and tens of millions of active readers, Substack has turned this model into a transformative force in media.In this episode, Chris and Hamish unpack how they’re reshaping creator economics, navigating AI’s role in creativity, and enabling a new era for writers, from serialized fiction to short-form video. Their bet? That if content adds real value—whether it educates, entertains, or helps people earn—audiences will pay for it.In our conversation, we explore:• How Substack grew from a simple newsletter tool to a multi-format media platform with 5 million+ paid subscriptions• Why the "soul connection" between creators and audiences is becoming more valuable in an AI-dominated world• The inside story of Substack's clash with Elon Musk and how it ultimately strengthened their platform• Why the ceiling for great writing and culture might be much higher than we're currently imagining• How Substack's subscription model creates dramatically better economics for creators than ad-supported platforms• Chris's "grand unified theory" for how AI will influence content creation and consumption• Why their short-form content isn't just a "sticky trick" but a pathway to deeper engagement and discovery• The future of traditional prestige media brands• Much more—Thank you to the partners who make this possibleVanta: Automate compliance and simplify security.Brex: The banking solution for startups.WorkOS: The modern identity platform for B2B SaaS.—For a full transcript of the episode, please visit: https://thegeneralist.substack.com/p/the-substack-playbook—Timestamps(00:00) Intro(05:27) An overview of Substack and its current scale(06:53) The origin story of Substack(19:20) Finding the first believers(24:17) Successful fiction on Substack, and why there’s potential for much more(29:09) The different mediums available on Substack(32:27) How Substack’s feed differs from social media(37:33) The clash with Elon Musk and Twitter/X(47:23) How Substack’s network helps creators succeed(52:07) TikTok creators moving to Substack after the ban(56:20) The future of paid media consumption(58:24) Chris's grand unified theory of AI and media(1:07:07) Substack’s AI tools(1:10:54) Why it’s hard to predict where AI is taking us next(1:13:42) Advice for traditional media institutions(1:16:48) Final meditations—Follow Chris BestX: https://x.com/cjgbestLinkedIn:https://www.linkedin.com/in/cjgbest/—Follow Hamish McKenzieX: https://x.com/hamishmckenzieLinkedIn: https://www.linkedin.com/in/hamishmckenzie/—Resources and episode mentions—Books—• The Anxious Generation: How the Great Rewiring of Childhood Is Causing an Epidemic of Mental Illness: https://www.amazon.com/Anxious-Generation-Rewiring-Childhood-Epidemic/dp/0593655036• The Canterbury Tales: https://www.amazon.com/Canterbury-Tales-Geoffrey-Chaucer/dp/0140424385—People—• Jairaj Sethi on LinkedIn: https://www.linkedin.com/in/jairaj-sethi/• Andrew Chen on LinkedIn: https://www.linkedin.com/in/andrewchen/• Mike Kerns on LinkedIn: https://www.linkedin.com/in/mike-kerns-63219/• Patrick Collison on LinkedIn: https://www.linkedin.com/in/patrickcollison/—Other resources—• Substack: https://substack.com/• Kik: https://kik.com/• Listicle: https://en.wikipedia.org/wiki/Listicle• The dress: https://en.wikipedia.org/wiki/The_dress• Craigslist: https://www.craigslist.org/...Resources continued at: https://thegeneralist.substack.com/p/the-substack-playbook—Production and marketing by penname.co. For inquiries about sponsoring the podcast, email jordan@penname.co.

Sequoia Capital is synonymous with outstanding performance, backing companies like Apple, Google, Airbnb, and Stripe. In today’s episode, I chat with Roelof Botha, Sequoia’s Managing Partner, about what it takes to see the future first, capitalize on it intelligently once it arrives, and help founders build enduring companies. Roelof is especially well-placed to discuss such matters. Not only has Sequoia navigated more than 50 years of market cycles, Roelof has personally spent more than 20 years helping shape the firm’s unique approach. From honing a philosophy rooted in clear thinking and long-term vision to asking the tough question of "What would you do with only 12 months of runway?" Roelof breaks down the mindset that’s helped Sequoia and its founders thrive, and what others can learn from it. In our conversation, we explore:• The psychological biases that most frequently derail investors• Why the first-mover advantage is often a disadvantage in technology  • Why excess funding often undermines innovation• The story of PayPal's near-death experience and how it sparked its most critical innovations• How Roelof’s training as an actuary shaped his long-term thinking • How Sequoia maintains investment discipline through market cycles • Why they don’t use the word “deal” at Sequoia • How the US can maintain the lead in the AI race• The thinking behind the Sequoia Capital Fund and the firm’s organizational structure • And much more—Thank you to the partners who make this possibleBrex: The banking solution for startups.WorkOS: The modern identity platform for B2B SaaS.Explo: Customer-facing analytics for any platform.—For a full transcript of the episode, please visit: https://thegeneralist.substack.com/p/lessons-from-20-years-of-vc-roelof-botha—Timestamps(00:00) Intro(04:50) Roelof on the AI bubble(07:26) Sequoia’s Monday tracker and investment tools(09:25) AI's role in business growth(11:55) The challenge of spotting unicorns in a climate of rapid growth(14:48) Roelof’s critique of capital-heavy AI startups(19:30) A glimpse at how partners work at Sequoia(21:43) A lesson from PayPal(24:09) Roelof’s interest in decision-making and biases(27:19) Two key biases: loss aversion and anchoring(30:55) Examples of anchoring with Square and Twitter(36:30) The case for long-term thinking(41:00) Sequoia’s culture and commitment to winning(48:38) What Sequoia looks for in founders(51:39) How new technology enables less technical founders to succeed(54:06) Why AI may favor incumbents over startups(57:12) Where the US stands in the AI race(1:01:16) The risks of government overspending(1:03:54) Sequoia’s journey from idea to IPO(1:10:44) How Sequoia uses AI(1:15:05) Final meditationsPerformance numbers shared in this interview are as of March 24, 2025. Past performance is not indicative of future performance.—Follow Roelof BothaX: https://x.com/roelofbothaLinkedIn: https://www.linkedin.com/in/roelofbotha/—Resources and episode mentions—Books—• Decisive: How to Make Better Choices in Life and Work: https://www.amazon.com/Decisive-Make-Better-Choices-Life/dp/0307956393/• Leading: Learning from Life and My Years at Manchester United: https://www.amazon.com/Leading-Learning-Years-Manchester-United/dp/0316268100• A Tale of Two Cities: https://www.amazon.com/Tale-Two-Cities-Penguin-Classics/dp/0141439602• Man’s Search for Meaning: https://www.amazon.com/Mans-Search-Meaning-Viktor-Frankl/dp/0807014273/r—People—• Don Valentine: https://en.wikipedia.org/wiki/Don_Valentine• Daniel Kahneman: https://www.nobelprize.org/prizes/economic-sciences/2002/kahneman/facts/• Brian Chesky on X: https://x.com/bchesky...Episode resources continued at: https://thegeneralist.substack.com/p/lessons-from-20-years-of-vc-roelof-botha—Production and marketing by penname.co. For inquiries about sponsoring the podcast, email jordan@penname.co.

Josh Wolfe is a co-founder of Lux Capital, where he funds the kinds of ventures that change everything: think gene-edited pig organs and technology that lets you “record” smells. His approach? Relentless curiosity. He reads dozens of newspapers daily to identify patterns, always staying a few steps ahead. In this episode of The Generalist, Josh shares how his firm backs companies that don’t just predict the future, but create it.In our conversation, we explore:• The revolutionary development of genetically modified pig organs being transplanted into humans and what this means for the future of organ transplantation.• The recent achievement of "teleporting smell" across space and why computers that can replicate scents will open up entirely new industries.• Why Lux is investing in the search for real-life "X-Men" — genetic outliers in isolated populations whose DNA could lead to life-saving medical advancements.• How Josh evaluates macro trends to make smarter micro investment decisions and why ignoring the big picture is a mistake.• The three tech sectors that Josh believes will define the geopolitical balance in the decades ahead.• How Josh stays current on macroeconomic trends.• Much more—Thank you to the partners who make this possibleBrex: The banking solution for startups.WorkOS: The modern identity platform for B2B SaaS.Generalist+: Essential intelligence for modern investors and technologists.—For a full transcript of the episode, please visit: https://thegeneralist.substack.com/p/shrinking-the-gap-between-sci-fi-and-sci-fact-josh-wolfe—Timestamps(00:00) Intro(04:38) A brief overview of Josh’s work at Lux Capital (05:57) The science fiction to science fact pipeline (09:11) Xenotransplantation(12:10) Proven transplantations with modified pig kidneys, and what’s next (15:38) Ethical questions around xenotransplantation (17:48) Lux Capital’s investment in eGenesis(19:34) The theory of persistent cellular memory (23:35) Why eGenesis began with kidneys(24:30) Digitizing smell(32:24) Commercializing digital olfaction technology(38:26) The potential applications for a “Shazam for smell” (43:16) Variant Bio’s work studying genetic outliers (52:00) Variant Bio's two primary clinical focuses(53:46) How Josh stays current on macroeconomic trends(59:44) Josh’s thoughts on the critical areas the U.S. should invest in(1:14:00) How to win the talent war(1:18:53) Final meditations—Follow Josh WolfeX: https://x.com/wolfejoshLinkedIn: https://www.linkedin.com/in/josh-wolfe-7883/—Follow Mario GabrieleNewsletter: https://thegeneralist.substack.com/LinkedIn: https://www.linkedin.com/in/mariogabriele/—Resources and episode mentions—Books—• 20,000 Leagues Under the Sea: https://www.amazon.com/000-Leagues-Under-Wordsworth-Classics/dp/1853260312• War of the Worlds: https://www.amazon.com/War-Worlds-H-G-Wells/dp/8175992824/• In Search of Lost Time: https://www.amazon.com/Search-Lost-Time-Library-Classics/dp/0812969642• Perfume: The Story of a Murderer: https://www.amazon.com/Perfume-Story-Murderer-Patrick-Suskind/dp/0375725849/• Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger: https://www.amazon.com/Poor-Charlies-Almanack-Charles-Expanded/dp/1578645018—Other Resources—• eGenesis: https://egenesisbio.com/• Xenotransplantation: https://egenesisbio.com/xenotransplant/• Surgeons Transplant Engineered Pig Kidney Into Fourth Patient: https://www.nytimes.com/2025/02/07/health/fourth-pig-kidney-transplant.html• CRISPR: https://www.genome.gov/genetics-glossary/CRISPR• Can an Organ Transplant Change Someone’s Personality? https://www.psychologytoday.com/us/blog/the-leading-edge/202402/do-organ-transplants-cause-personality-change-in-recipients#...Episode resources continued at: https://thegeneralist.substack.com/p/shrinking-the-gap-between-sci-fi-and-sci-fact-josh-wolfe—Production and marketing by penname.co. For inquiries about sponsoring the podcast, email jordan@penname.co.