Latest Interviews

A Conversation with Citadel’s Ken Griffin | Global Conference 2026

Ken Griffin, Sara Eisen

Ken Griffin characterizes the Middle East conflict as a severe humanitarian crisis that threatens to trigger a global recession within six to twelve months, though he maintains that U.S. energy independence from fracking insulates the American economy from immediate oil shocks. He details a shifting political landscape where rising extremism and progressive policies in Chicago and New York drive a corporate exodus toward business-friendly states like Florida, where Citadel is doubling down on its operations. Looking ahead, Griffin emphasizes education as a national emergency to combat inflation and workforce displacement, advocating for meritocratic reforms and the integration of AI to create new jobs while preserving the skills of older workers.

Building Blackstone, Backing Costco, and Working with Munger | Tony James on The a16z Show

Tony James, Munger, David Haber, Jim Sinegal, Steve Schwarzman

James transformed DLJ from a niche player into a market leader with $14 billion in sales, subsequently steering Blackstone to nearly $1 trillion in assets by cultivating a team-based culture and scalable platform. His strategic investments in entities like Costco and his tenure alongside Charlie Munger underscore a philosophy rooted in flawless execution and long-term value creation. Looking forward, James advocates for structural shifts in private credit and fund models while championing an HBCU initiative designed to leverage private equity capabilities for broader societal impact.

Inference Chips for Agent Workflows

Current AI inference hardware fails to support agentic workflows, which rely on complex loops and tool calling, resulting in low GPU utilization and a critical market gap for specialized silicon. Strategic acquisitions by NVIDIA and innovations like Google's TPU v7 highlight the industry's urgent recognition that successful agentic AI requires native features for fast context switching, speculative decoding, and persistent memory caching across execution graphs. To address this, the speaker is actively seeking collaborators with deep expertise in both chip architecture and agent execution flows to develop the necessary compiler and hardware optimizations for this emerging paradigm.

Stanford CS153 Frontier Systems | Andreas Blattmann from Black Forest Labs on Visual Intelligence

Andreas Blattmann, Anjney Midha

Black Forest Labs, a Freiburg-based team of former Stability AI researchers, has scaled a 25-person operation to a $3 billion valuation by bootstrapping the Flux family of multimodal generative models. The company distinguishes itself through an open-weight commercial strategy and a strict adherence to EU AI Act compliance, maintaining identical safety guardrails for all partners including Meta and XAI. Looking forward, the organization is shifting its research focus from image synthesis to physical AI and robotics, aiming to validate model intelligence through real-world causal interactions rather than subjective aesthetic metrics.

Stanford CS153 Frontier Systems | Mati Staniszewski from ElevenLabs on The Future of Voice Systems

Mati Staniszewski, Anjney Midha

Founded in London by Matt Garman and Piotr to address poor voice dubbing quality, ElevenLabs evolved from a self-funded experimental project into a $430M ARR enterprise by 2025 through a dual strategy of product-led growth and forward-deployed engineering. The company advanced AI audio technology from isolated text-to-speech models in 2022 to integrated, emotionally reactive voice agents that support everything on-device processing to humanitarian applications for speech-impaired patients. By prioritizing safety watermarking and collaborative ecosystem partnerships over defensive patents, ElevenLabs now positions itself as a dominant conversational platform capable of handling complex global tasks while navigating emerging ethical and economic challenges in voice cloning.

Digital Freedom, AI Regulation, and the Fight for the Western Internet | The a16z Show

Katherine Boyle, Sarah Rogers

The U.S. administration is prioritizing the development of a "Western AI stack" to counter adversarial nations and dismantle prior State Department censorship apparatuses by redefining public diplomacy around user empowerment and free speech. Key figures like Under Secretary Rogers are leading an office restructuring that rejects opaque foreign information integrity initiatives while countering EU regulatory threats that use digital safety laws to penalize protected political expression. This strategy aims to align AI policy with First Amendment principles, ensuring that transparency, individualistic reasoning, and user-driven moderation tools serve as the primary defense against authoritarian models and foreign viewpoint-skewed legislation.

AI-Native Discovery Engines

Frontier AI models are transforming the traditional scientific discovery loop by advancing from co-pilot tools to autonomous systems capable of executing full design-make-test-analyze cycles. These AI-native engines are already driving breakthroughs in drug discovery, material science, and protein engineering by generating hypotheses and validating them through automated laboratory workflows. As these closed-loop systems mature, they are poised to become the primary drivers of scientific progress alongside human researchers rather than remaining mere assistants.

The AI Operating System for Companies

Advanced AI-native organizations are adopting a closed-loop architecture that renders entire organizations queryable by AI, capturing data from meetings, tickets, and customer interactions into a unified reasoning engine. This methodology delivers a 50% reduction in sprint times and a 10x velocity increase by enabling immediate system monitoring and automatic adjustments, addressing a critical market gap where no existing product successfully aggregates context from disparate tools like Slack, Linear, and GitHub. A new initiative aims to build this essential connective layer to make companies legible to AI by default and is actively seeking collaboration with entities developing similar infrastructure.

SaaS Challengers

AI coding tools have slashed software production costs by up to 100 times, dismantling the legacy code moats that once protected incumbent SaaS providers from competition. While investors have slashed billions from established market valuations, the analysis outlines four disruptive strategies for startups to target massive, untapped sectors like chip design and ERP systems. This shift marks a generational transition where new entrants can replace decades-old codebases of millions of lines with integrated, AI-native alternatives.

Industrial Capabilities in Space

Adi Oltjan

StarCloud co-founder Adi Oltjan outlines a strategy to build space-based data centers by extracting lunar raw materials like silicon, aluminum, iron, and titanium. The company plans to achieve superior efficiency through electrolysis and 3D printing technologies that process molten regolith without Earth's gravity constraints. Y Combinator is currently soliciting applications from founders developing similar industrial capabilities in the Moon and deep space sectors.

Software for Agents

Projections indicate that the next trillion internet users will be AI agents rather than humans, yet current human-centric infrastructure creates slow and brittle interactions due to its reliance on visual interfaces. To address this, the market requires a new software foundation built on machine-readable protocols like APIs and CLIs, with successful startups emerging by designing "agent-first" architectures instead of retrofitting legacy systems. This shift creates a primary investment opportunity in building the foundational software infrastructure that enables autonomous agent discovery and usage, inviting founders to initiate contact if they are developing solutions for this specific need.

Are AI models running out of power? | The Economist

Shailesh Chitnis, Rosie Blau

Facing severe hardware shortages and monopoly choke points where Nvidia and TSMC dominate supply, major AI developers like OpenAI and Anthropic are throttling services and redirecting resources to manage capacity. In response to these constraints, five cloud providers plan a $700 billion infrastructure build-out while companies grapple with three-to-five-year lead times for essential components and aging chip inventories. This fundamental mismatch between rapid software cycles and slow physical production is projected to reverse declining inference costs, potentially raising prices and slowing overall industry adoption.

OpenAI Misses Targets, Codex vs Claude, Elon vs Sam Trial, Big Hyperscaler Beats, Peptide Craze

Elon, Sam, Friedberg, Jason Calacanis, David Sacks, Chamath Palihapitiya

OpenAI faces mounting structural tensions as it misses 2025 revenue and user targets while CEO Sam Altman pushes for an IPO against CFO Sarah Fryer's caution amidst $600 billion in future compute commitments. The company currently maintains a compute advantage over rivals like Anthropic through excess data center capacity, even as the broader AI sector grapples with power grid bottlenecks and a record $725 billion in hyperscaler capital expenditures for 2026. Concurrently, Elon Musk pursues a $150 billion lawsuit alleging a breach of charitable trust following internal documents revealing plans to remove him before the entity's conversion to for-profit status.

How high could the oil price go? | The Economist

Zanny Minton Beddoes, Edward Carr, Mathieu, Henry

Global oil markets face a structural crisis where a 14 million barrel-per-day supply deficit has eroded the "sanguine" expectation of a quick peace deal, creating a price disconnect that literature estimates would require $167 to $460 per barrel to correct. With production gains from non-conflicted regions proving negligible, the market is currently absorbing this shortfall through record-fast inventory drawdowns of 8 to 10 million barrels daily, driven by pre-war shipments and sanctions-induced cargo displacement. As critical buffers for jet fuel and diesel approach minimum levels and logistical constraints lengthen trade routes, the only remaining adjustment mechanisms involve further depletion of commercial stocks or active demand destruction in major consuming regions like Asia.

Hardware Supply Chain

The firm is accelerating investment in US hardware startups across medical devices, robotics, and space sectors to build a comprehensive stack for rapid iteration. This strategy directly addresses the significant speed disparity between US production cycles, which take several weeks, and the one-day turnaround available in Shenzhen. By prioritizing companies that tightly integrate design, manufacturing, and logistics, the initiative aims to close the competitive gap with early players like HLabs and Prototyping IO.