In this episode of Fault Lines, Augustin Sayer sits down with Cameron Porter, co-founder and General Partner at Steel Atlas, whose unconventional path runs from studying computer science at Princeton and playing professional soccer in Major League Soccer to building a career in venture capital. Cameron reflects on the highs and lows of elite sport, the injuries and turning points that reshaped his trajectory, and the lessons in resilience, risk-taking and conviction that ultimately led him into investing.

The conversation then turns to Steel Atlas and its distinctive approach to backing the next generation of industrial technologies. Cameron explains why the firm focuses on the overlooked infrastructure that “holds the world up,” from manufacturing and supply chains to energy and nuclear technologies, and why a concentrated, deeply researched portfolio can challenge traditional venture capital dogma. A wide-ranging discussion about industrial renewal, asymmetric insight, and what it takes to invest in the technologies shaping the next American industrial revolution.

[00:00:00] From Princeton to professional soccer
[00:05:41] Getting drafted into Major League Soccer
[00:11:15] The game that changed everything
[00:15:38] Scoring Montreal’s legendary 94th-minute goal
[00:17:03] Career-changing injuries and leaving professional soccer
[00:19:23] Discovering crypto and transitioning into tech
[00:20:41] Breaking into venture capital with Kevin Ryan
[00:23:51] What elite sports teaches you about investing
[00:27:02] Founding Steel Atlas
[00:29:24] The investment thesis behind industrial technology
[00:31:12] Challenging traditional venture capital dogma
[00:35:22] How Steel Atlas de-risks early-stage investments
[00:40:47] When great technologies fail to get adopted
[00:46:00] The next American industrial revolution

Fault Lines Podcast is for informational and entertainment purposes only. Nothing in this podcast constitutes investment, financial, legal, or tax advice, nor a recommendation to buy, sell, or hold any security or pursue any investment strategy. Nothing here is an offer to sell or a solicitation of an offer to buy any security or interest in any fund. The views expressed are those of the host and guests in their personal capacity and do not represent the views of OVNI Capital LLC, OVNI Capital SAS, or any affiliated entity. Opinions expressed by guests are their own. Information is believed accurate as of the recording date but is not guaranteed. Listeners should consult their own professional advisors before making any financial decisions.

Hosted by Audiomeans. Visit audiomeans.fr/politique-de-confidentialite for more information.

In this episode of the Fault Lines, Augustin Sayer welcomes Helena Gagern, co-founder of The Founder Embassy, for a deep dive into her unconventional path from Europe to Silicon Valley. Helena retraces her journey from working in hypergrowth at FlixBus in the U.S., to self-teaching coding during COVID, breaking into product management, and eventually launching (and shutting down) a crypto startup backed by top-tier investors . Through candid reflections on failure, ambition, and serendipity, she shares what it truly means to build in tech today.

The conversation then explores the founding thesis behind The Founder Embassy: helping European founders plug directly into San Francisco’s unique ecosystem from day one. Helena explains why she believes building globally requires a real presence in SF - where customer velocity, risk appetite, and belief in bold ideas are unmatched. A sharp discussion unfolds around Europe vs. the U.S., New York vs. San Francisco, and why proximity to the right network can dramatically accelerate a startup’s trajectory.

[00:00:00] Introduction – Helena Gagern & The Founder Embassy

[00:01:00] From Austria to LA – Joining FlixBus During U.S. Expansion

[00:03:40] Learning to Code During COVID – Building the First Product

[00:06:30] Google APM Interviews – Hustling Without a CS Degree

[00:08:50] Product Management at Anaplan (B2B SaaS)

[00:10:00] Entrepreneur First – Entering the Startup World

[00:12:10] Serendipity – Meeting a Co-Founder at a Miami Hackathon

[00:14:30] 10-Day Founder Sprint in Austria

[00:15:25] Building a Crypto Messaging Startup (Salsa)

[00:16:15] NFTs, Wallet Messaging & Market Timing

[00:17:50] Raising from Tier-1 Crypto Investors

[00:18:40] Shutting Down the Startup – Tough Founder Decisions

[00:19:20] Discovering San Francisco’s Unique Tech Culture

[00:21:30] The Moment SF “Clicked” – Quality of Ideas Over Credentials

[00:22:50] Founding Thesis of The Founder Embassy

[00:23:40] European Founders Moving Earlier to SF

[00:24:00] Why “Stay in Europe” Is a Flawed Narrative

[00:25:00] Customer Velocity – U.S. vs Europe

[00:26:50] New York vs San Francisco – Where Should Founders Move?

[00:28:00] SF as an Industry Town – Why It’s Different

[00:29:00] The Birth of The Founder Embassy Concept

[00:30:10] Getting the House & Selecting High-Potential Founders

[00:31:00] Not an Accelerator – Curated Access Over Structure

[00:31:55] Making High-Leverage Introductions

[00:33:00] Small Dinners That Change Founder Trajectories

[00:34:30] Real Impact – Fundraising & Founder Success Stories

[00:35:15] How Founders Discover The Embassy

[00:36:00] The Minimalist Website & Underground Strategy

[00:36:45] The “Paul Graham’s Uncle” Experience

[00:38:00] Who Gets In? Different Founder Profiles

[00:40:30] Where Should You Build? 2 Weeks in SF vs Europe

[00:41:10] Building Global Companies – Europe + SF Hybrid Model

[00:42:00] Opportunity for European Founders Today

[00:43:00] Long-Term Vision & Mission

[00:44:00] Closing Thoughts

Fault Lines Podcast is for informational and entertainment purposes only. Nothing in this podcast constitutes investment, financial, legal, or tax advice, nor a recommendation to buy, sell, or hold any security or pursue any investment strategy. Nothing here is an offer to sell or a solicitation of an offer to buy any security or interest in any fund. The views expressed are those of the host and guests in their personal capacity and do not represent the views of OVNI Capital LLC, OVNI Capital SAS, or any affiliated entity. Opinions expressed by guests are their own. Information is believed accurate as of the recording date but is not guaranteed. Listeners should consult their own professional advisors before making any financial decisions.

Hosted by Audiomeans. Visit audiomeans.fr/politique-de-confidentialite for more information.

In this episode of Fault Lines, host Augustin Sayer sits down with Juan Pablo Soulier, Partner at Prelude Ventures, whose career spans Renault, Tesla, Waymo, Rivian and entrepreneurship. Juan shares his journey from pioneering battery research and building Tesla’s Supercharger network to helping launch Waymo’s autonomous fleet infrastructure, revealing how mission-driven cultures and long-term thinking shaped his path.

The conversation explores the future of mobility, climate technology and venture capital, as Juan explains why he joined Prelude Ventures to back the next generation of founders. From EV adoption and autonomous vehicles to energy infrastructure and deep tech investing, this episode offers a rare insider perspective on how some of the world’s most transformative technologies are built, and where the biggest opportunities lie ahead.

[00:00:00] Introduction – Juan Pablo Soulier’s journey from Renault to Prelude Ventures
[00:01:23] Betting on electric vehicles back in 2009
[00:03:02] Battery chemistry and the economics of early EVs
[00:06:00] Why charging infrastructure became the real opportunity
[00:07:26] Joining Tesla and moving to California
[00:10:15] Tesla’s culture: talent, ownership and extreme commitment
[00:14:44] The pros and cons of hiring young go-getters
[00:18:02] Building Tesla’s Supercharger network from scratch
[00:21:02] How customer behavior shaped the charging network
[00:23:18] Surviving Model 3 production hell
[00:26:06] Leaving Tesla to join Waymo
[00:28:13] The hidden infrastructure behind autonomous fleets
[00:31:31] Why electricity capacity is a bottleneck for robotaxis
[00:33:41] Witnessing Waymo become truly driverless
[00:34:24] Tesla, BYD and the global EV race
[00:36:34] Will our children still need driver’s licenses?
[00:38:38] Becoming an entrepreneur with Vammo in Brazil
[00:40:29] Returning to EVs and AI at Rivian
[00:41:04] Joining Prelude Ventures to back climate technologies
[00:42:46] Growing up in Colombia and discovering a mission
[00:44:37] What Juan looks for as an investor today
[00:45:00] Climate investing, deep tech and the next frontier of innovation

Fault Lines Podcast is for informational and entertainment purposes only. Nothing in this podcast constitutes investment, financial, legal, or tax advice, nor a recommendation to buy, sell, or hold any security or pursue any investment strategy. Nothing here is an offer to sell or a solicitation of an offer to buy any security or interest in any fund. The views expressed are those of the host and guests in their personal capacity and do not represent the views of OVNI Capital LLC, OVNI Capital SAS, or any affiliated entity. Opinions expressed by guests are their own. Information is believed accurate as of the recording date but is not guaranteed. Listeners should consult their own professional advisors before making any financial decisions.

Hosted by Audiomeans. Visit audiomeans.fr/politique-de-confidentialite for more information.

In this episode of the Fault Lines Podcast, Augustin Sayer sits down with Andrew Côté - engineering physicist, deep tech thinker, and founder of Hyperstition - for a wide-ranging conversation at the frontier of science and entrepreneurship. From his unconventional path from anthropology to engineering physics, Andrew retraces his journey through particle accelerators, nuclear fusion startups, infectious disease research during COVID, and early experiments with large language models - long before ChatGPT became mainstream.

The discussion dives deep into energy abundance, nuclear power, superconductors, venture capital, and the cultural rise of deep tech in the U.S. Andrew shares his philosophy on building technology that meaningfully advances civilization - arguing that energy, physics, and fundamental engineering breakthroughs form the true foundation of economic prosperity. A bold and intellectually electric episode about ambition, failure, resilience, and the pursuit of technologies indistinguishable from magic.

[00:00:00] Introduction — Who is Andrew Côté?

[00:00:22] From Anthropology to Engineering Physics

[00:01:54] Falling in Love with Cosmology & Particle Physics

[00:02:15] Choosing Engineering Physics Over the Safe Path

[00:03:05] Deep Tech Before It Was Trendy (2014 Context)

[00:04:28] Turning Down Academia to Start a Company

[00:05:33] First Startup Attempt — Computational Imaging & Light Field Displays

[00:07:26] Tech Risk & Hardware Fundraising Challenges

[00:08:44] Pivoting & Early Entrepreneurial Experiments

[00:09:31] The Move to San Francisco

[00:09:50] Chan Zuckerberg Biohub & Bioengineering During COVID

[00:11:04] Spinning Out an Early LLM Startup (Pre-ChatGPT)

[00:12:23] Philosophy: Doing What Only You Can Do

[00:15:00] Intrapreneurship Inside a Nonprofit

[00:17:07] LLMs for Drug Discovery — Too Early?

[00:18:50] Startup Failure & Moving Back to Canada

[00:19:36] Returning to Fusion Engineering

[00:20:19] Fusion vs Quantum Computing — What Matters Most?

[00:21:26] Why Energy Abundance Changes Civilization

[00:22:45] Nuclear Energy, France vs Germany

[00:25:15] Energy Policy & Industrial Competitiveness

[00:26:26] Back to Fusion — The Dream Job at Princeton

[00:27:33] Writing Online & Building a Deep Tech Audience

[00:27:51] The LK99 Superconductor Saga

[00:28:32] Going Viral on Tech Twitter

[00:29:04] Venture Capital Interest & New Opportunities

[00:32:43] What Is Deep Tech Really?

[00:33:05] Underwriting Technical Risk

[00:34:00] Founders vs Investors in Deep Tech

[00:36:30] The Origin of Deep Tech Week

[00:39:00] Building a Cultural Movement Around Engineering

[00:42:30] Hyperstition — Technology Indistinguishable from Magic

[00:45:00] Are We Entering a U.S. Deep Tech Renaissance?

Fault Lines Podcast is for informational and entertainment purposes only. Nothing in this podcast constitutes investment, financial, legal, or tax advice, nor a recommendation to buy, sell, or hold any security or pursue any investment strategy. Nothing here is an offer to sell or a solicitation of an offer to buy any security or interest in any fund. The views expressed are those of the host and guests in their personal capacity and do not represent the views of OVNI Capital LLC, OVNI Capital SAS, or any affiliated entity. Opinions expressed by guests are their own. Information is believed accurate as of the recording date but is not guaranteed. Listeners should consult their own professional advisors before making any financial decisions.

Hosted by Audiomeans. Visit audiomeans.fr/politique-de-confidentialite for more information.

Hosted by Augustin Sayer, Fault Lines is a new podcast exploring the hidden tensions shaping technology, venture capital and the future of AI. In this first episode, Augustin welcomes Alex Niehenke, partner at Scale Venture Partners, for a deep dive into the evolution of Silicon Valley, the rise of vertical AI, and the realities of building category-defining companies.  

From boardroom dynamics to billion-dollar AI theses, the conversation blends sharp investor insight with candid reflections on startups, founders and the changing nature of venture capital. A thoughtful and unfiltered discussion on where the next wave of innovation will emerge, and why the most valuable opportunities often hide inside “unsexy” industries.  

[00:00:00] Introduction & Alex Niehenke’s journey into venture capital
[00:02:41] From MySpace to Silicon Valley: the evolution of startup ecosystems
[00:06:14] Why San Francisco became the capital of the AI era
[00:07:33] Scale Venture Partners’ biggest bets: DocuSign, Box, Motive & AI startups
[00:09:20] Why the future of AI is vertical, not horizontal
[00:12:59] Proprietary data, regulation & the defensibility of Vertical AI
[00:16:19] Why lawyers became one of AI’s fastest-growing markets
[00:18:28] Why AI wrappers may matter more than people think
[00:20:27] Is venture capital running out of money again?
[00:21:58] Lessons from the boardroom: scaling companies from seed to IPO
[00:24:03] The hidden reality of board work & founder relationships
[00:27:02] Building trust between founders and investors
[00:28:14] How great board members actually operate

[00:30:02] The discipline, pressure & emotional weight of board governance
[00:32:11] What founders misunderstand about venture capital
[00:34:07] Why “unsexy chaos” creates the biggest startup opportunities
[00:36:18] The hidden industries AI is about to transform
[00:38:42] How Alex evaluates founders beyond the pitch
[00:41:03] Spotting massive markets before everyone else
[00:43:11] Why the best startups solve painful operational problems
[00:45:02] Closing thoughts: AI, vertical software & the future of venture investing

Fault Lines Podcast is for informational and entertainment purposes only. Nothing in this podcast constitutes investment, financial, legal, or tax advice, nor a recommendation to buy, sell, or hold any security or pursue any investment strategy. Nothing here is an offer to sell or a solicitation of an offer to buy any security or interest in any fund. The views expressed are those of the host and guests in their personal capacity and do not represent the views of OVNI Capital LLC, OVNI Capital SAS, or any affiliated entity. Opinions expressed by guests are their own. Information is believed accurate as of the recording date but is not guaranteed. Listeners should consult their own professional advisors before making any financial decisions.

Hosted by Audiomeans. Visit audiomeans.fr/politique-de-confidentialite for more information.

Fault Lines Opening

Hosted by Audiomeans. Visit audiomeans.fr/politique-de-confidentialite for more information.