Full episode with 20 minutes of new material at the end.

Software factories, vertical integration, the regulatory frontier, and the autonomous company.

Part 1: Waste Tokens, Save Time

00:00 Three Frontier Founders

01:27 AI Software Factories

04:15 Waste Tokens, Save Time

05:47 Models Instructing Humans

09:29 Is Pure Software Dead?

12:03 You Don't Get Stuck Anymore

Part 2: Vibe Coding Hardware

14:39 Vibe Coding a Turbine Blade

18:07 Open Source Compounds China's Advantage

20:15 You Always Want the Smartest Model

22:44 Software Still Needs Hands

24:43 Humans Are Becoming Verifiers

Part 3: The Regulatory Frontier

27:53 The Regulatory Red Queen Race

32:32 Why There's No Innovation in Healthcare

36:49 We Need a True 50-State Experiment

40:31 China's FDA Is Beating Ours

43:37 Healthcare Is a Communist Society Inside Capitalism

45:57 Sid's Story: N-of-1 Medicine

Part 4: The Autonomous Company

47:49 Autonomous Infrastructure

51:25 Your Job Is to Train the Agent

54:54 The Next Lord of the Rings

59:08 What's Your Definition of Art?

1:05:00 Can AI Have New Ideas?

1:07:03 A Very Large Number of Small Teams

With Guillermo Rauch (Vercel), Blake Scholl (Boom Supersonic), and Max Hodak (Science).

Transcript: http://nav.al/industrial

00:00 Be Credible

03:18 "Yes, And"

04:31 Selfish Honesty

05:37 Charisma Is Confidence + Love

07:56 Don't Manage, Lead

11:16 Hunt Together

14:51 Feed Your (Good) Obsessions

18:57 Sell the Truth

21:07 Good Deal or No Deal

23:39 The Age of Nonlinear Returns

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Transcript: http://nav.al/sell

USVC is a product of AngelList, where we are founders and hold equity.

00:00 The Fully Interconnected Startup

04:14 You Don't Need the Explicit Intranet Anymore

06:55 May You Live in Interesting Times

10:40 Drones Democratize Violence

12:43 Biothreats Could Also Get Democratized

15:09 AI Interfaces Unlock Hardware

17:35 Optimism Requires Creativity

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Transcript: http://nav.al/over

USVC is a product of AngelList, where we are founders and hold equity.