Budweiser was the undisputed king of American beers, until one controversial ad campaign erased $40 billion in market cap and thousands of jobs. How did this happen? Where did top-down frameworks like ESG and DEI originate? And how can we get corporate America back on mission?

This week we're joined by Anson Frericks, a former president at Anheuser-Busch and author of the new book: “Last Call for Bud Light: The Fall and Future of America’s Favorite Beer." He recently founded Athletic Capital and co-founded Strive Asset Management with Vivek Ramaswamy.

After graduating from Yale and Harvard Business School, Anson quickly ascended the ranks at AB InBev, which acquired Anheuser-Busch in 2008. But he began to notice the beer brand straying from its all-American roots. The culture shifted dramatically after InBev moved sales and marketing from St. Louis to New York City, and Budweiser became emblematic of a decades-long battle over the purpose of a corporation dating back to Milton Friedman's shareholder primacy theory versus the World Economic Forum's embrace of stakeholder theory. Anson explains how the latter captured boardrooms across Europe, spread to America, and led to the proliferation of ESG and DEI within our largest financial institutions.

He details how BlackRock, State Street, and Vanguard wield their outsized influence to force stakeholder theory on corporate America, and explains why, shortly before Bud Light's historic collapse, he left to launch Strive Asset Management as an alternative asset manager focused solely on maximizing returns for shareholders. Anson provides an important case study in what went wrong on Wall Street and in boardrooms across the country, and more importantly, how we can get back on track.

00:00 Episode Intro

1:57 The rise & fall of Bud Light

08:50 What is the purpose of a corporation?

10:48 Milton Friedman vs Klaus Schwab

13:50 How BlackRock manipulates investors & companies

16:15 What went wrong at Bud Light

19:00 Costco doubling down on DEI

23:35 How to fight back

28:10 Why Anson left to start Strive

35:38 How to save corporate America

My friend Tim Urban is one of the most influential writers and public intellectuals of the past decade. In 2015, his predictions about the coming AI wave shaped how many builders thought about the future. What happens next in the AI revolution? What new possibilities is he excited about and what concerns him the most? And why, despite technological progress, has our culture and politics descended into tribalism?

We explore these questions and more with the writer and illustrator of the popular "Wait But Why" blog and author of "What's Our Problem?: A Self-Help Book for Societies." Tim's unique illustrations translate complex, technical topics in ways that are accessible and insightful to everyone from the layperson to our country’s top innovators.

After studying government at Harvard, Tim noticed a glaring hole in online discourse: content was everywhere, but quality was lacking. So he began to write in-depth about pressing intellectual questions and debates. What is the nature of intelligence? Why does Mars matter? What does the Fermi Paradox teach us about the universe? His research led him to viral success and carved out his reputation as one of the most forward-thinking writers online, followed by Elon Musk and millions more. After exploring these themes, he noticed a troubling trend: technology was progressing but our culture and politics were not. He then dedicated six years to writing "What's Our Problem?" and developed powerful frameworks for understanding human nature, political dysfunction, and how illiberal movements conquer institutions. And he doesn't just diagnose our collective ailments, but also offers an antidote for how we can all draw from the higher aspects of our mind to transcend tribalism and move society forward. Tim's writings have been instrumental in the country's "vibe shift" and restoring sanity and intelligence to our national discourse.

00:00 Episode Intro

01:35 From Harvard to blogging

04:57 Understanding the Fermi Paradox

09:46 How Tim predicted the AI revolution

13:30 Narrow vs general intelligence

17:30 Should we pause AI research?

26:00 What's Our Problem?

31:00 Higher-rung vs lower-rung thinking

34:20 America vs wrecking balls

41:50 How to conquer a society

51:20 Tim's $10k bet on Mars & optimism for the future

Self-driving is an immensely complex challenge; Tesla, Waymo, and others are locked in a years-long race. But equally challenging, and less known, is the race to develop off-road self-driving. How do you build systems that can navigate unmapped terrain, dodge boulders, and see behind trees — all at high speeds? And how can our military deploy this technology to enhance lethality and save soldiers' lives?

We discuss these exciting breakthroughs with Byron Boots, Co-Founder & CEO of Overland AI — one of the most exciting new U.S. defense companies. Byron holds a PhD in machine learning from Carnegie Mellon and also teaches machine learning and robotics at the University of Washington.

We begin with Byron's background as a philosopher-builder, and how he created the top ground autonomy research group in partnership with the Department of Defense. We dive into the engineering challenges of off-road self-driving, and Byron reveals what sets Overland apart from the competition. Next, we cover the strategic significance of Overland's work and how it will abstract humans from dangerous ground operations, like breaching, and transform warfare. If Overland is successful, thousands of autonomous vehicles, each with an elite operator controlling his own smart fleet, could replace the traditional ground campaigns of tanks, infantrymen, and heavy casualties — and that's something we can all be optimistic about.

00:00 Episode Intro

01:30 Byron’s Philosopher Builder Background

05:32 DARPA challenge & Overland origin story

08:15 On-road vs off-road self-driving

13:08 How ground autonomy changes warfare

18:59 Engineering challenges in off-road autonomy

23:30 AI-enabled swarming & the future of warfare

29:03 Building with the Pentagon

32:37 Optimism for the future

In 2012, Zac Bookman and I set out to bring efficiency and transparency to state and local governments using the best of Silicon Valley technology. Some said we were naive; others laughed when we tried to raise money from them. Over a decade later, OpenGov is a govtech leader, recently acquired by Cox Enterprises for $1.8 billion. And now, government efficiency, namely DOGE, is all the rage!

What does it take to bring government out of the stone ages and into the cloud? And how can DOGE and the new administration seize upon this cultural and political sea change? We discuss this and more with OpenGov co-founder and CEO Zac Bookman. A litigator by training, Zac fought corruption as a Fulbright fellow in Mexico and as an advisor to General McMaster in Afghanistan. As we launched OpenGov, Zac was recruiting candidates on his cell phone from NATO HQ — reflective of his intense work ethic and leadership.

We start with Zac's entrepreneurial journey and key lessons from Afghanistan, before diving into the make-or-break moments in building OpenGov. We also discuss his remarkable M&A track record and strategy of buying tiny govtech companies and helping them scale. Next, we explore Zac's advice for DOGE and how to effect meaningful and lasting change within government. Finally, Zac outlines how OpenGov is harnessing AI and the new possibilities for more functional and responsive governments around the country.

00:00 Episode intro

01:45 Zac's story

07:10 Fighting corruption in Afghanistan

11:30 The origins of OpenGov

19:35 Make-or-break moments

26:35 Understanding how local government works

28:10 Zac's unique M&A strategy

32:24 Advice for DOGE

37:35 Pivoting OpenGov to AI first

44:45 Biking across America & optimism

AI is transforming our world. Yet many people building these technologies have no grounding in the principles of Western Civilization. With the wrong ideas, we could hurtle toward an authoritarian, dystopian future. But with the right values, AI could unleash freedom and prosperity in ways never imagined. What are the philosophical frameworks needed to harness AI for good? And how do we train a new generation of philosopher builders?

We explore these timely issues with Brendan McCord, founder and chair of the Cosmos Institute, a new nonprofit equipping technologists with pro-liberty values. After graduating from MIT and Harvard Business School, Brendan served on Arctic submarine missions for the Department of Defense and later authored its first AI strategy. He went on to build and lead two AI startups that were acquired for $400 million. Now, he's educating our best and brightest minds in the timeless wisdom of Western Civilization and preparing them for the serious ethical questions that AI poses.

We begin with the importance of philosophy throughout history in harnessing emerging technologies for freedom or control. Next, Brendan breaks down the four dominant approaches to AI — doomsayers, accelerationists, regulators, and techno-authoritarians — and where each falls short. Alternatively, he offers three principles and their philosophical roots for harnessing AI for human flourishing: reason (John Stuart Mill), decentralization (Alexis de Tocqueville), and human autonomy (Aristotle). We also cover legitimate versus illegitimate concerns with AI and conclude with how the Cosmos Institute is putting these principles into action, from its Fellowship programs to its new AI lab at Oxford University.

00:00 Episode intro

02:04 Submarines to Building AI Companies

06:00 Why Philosopher Builders are needed

13:20 Why AI poses unique challenges

20:50 Doomsayers vs Accelerationists

25:50 Philosophical frameworks for human flourishing

30:10 Regulators & Techno-authoritarians

37:34 AI running for political office?

40:07 LLMs don't know how to reason

42:30 Purpose of the Cosmos Institute

How is AI augmenting software developers? Will it replace or commoditize certain roles? And how should aspiring engineers prepare for the future?

This week, we're joined by Dylan Serota, co-founder and CEO of Terminal, to discuss AI's impact on one of the most important aspects of company building: talent. After graduating from the University of Pennsylvania, Dylan headed to Silicon Valley, where he helped build and scale global teams for Eventbrite. After seeing the flaws in traditional outsourcing firms, he set out to build Terminal — a new model for a global talent platform. Behind the scenes, Terminal is enabling some of the fastest-growing tech companies, like Hims&Hers, Chime, and NextDoor, to hire and manage teams around the world.

We start our conversation with global hiring trends and how AI is transforming the competition for talent. Specifically, we discuss how new AI tools are augmenting coding and impacting demand for high-skill versus entry-level developers. We also tackle the challenges in building global teams and why some companies are reverting to face-to-face interviews and tests. Next, we explore the misaligned incentives in traditional outsourcing models and how Terminal differentiates itself. Finally, Dylan offers his advice to young engineers on how they should prepare for the AI age.

00:00 Episode Intro

02:00 The state of global talent

05:00 Why is Nike hiring thousands of engineers?

9:00 Will AI replace coders?

13:30 AI screening vs in-person interviews

18:00 Why is traditional outsourcing broken?

22:20 How Terminal helps startups scale

26:00 Advice for young engineers

Raj Bhakta is best known as the founder of Whistlepig Whiskey. But he also served in the Marines, rode an elephant across the Rio Grande while running for Congress, won a spot on The Apprentice with Donald Trump, recently purchased a college, and is reinventing the whiskey game (again). He's a patriot and creator of one-of-a-kind spirits — with a personality to match.

The son of immigrants, Raj grew up learning his father's hotel business before setting out on his own. After adventures in investment banking, reality TV, and politics, he saw an opening in high-end American whiskey — and he seized it. WhistlePig quickly became one of the premier craft whiskeys. After exiting in 2019, he secured one of the world's oldest stashes of Armagnac and launched his newest ventures: Hogsworth and Bhakta Spirits.

Raj recently acquired the now-defunct Green Mountain College in Vermont, where he plans to build a new university grounded in our Founding values, along with a world-class spirit library. We sample his newest whiskeys, joke about religion and politics, and learn from a great American entrepreneur.

00:00 Episode intro

01:44 Why Raj bought a college

03:32 Riding an elephant across Rio Grande

08:49 Origin story of WhistlePig

11:32 Growing up in America; joining Marines

18:32 Acquiring world's biggest stash of Armagnac

23:20 Building Hogsworth / how to blend whiskey

24:13 Catholicism vs Judaism

29:11 Working with Trump on The Apprentice

32:03 Bhakta Spirits & why drink Armagnac

39:40 Why Raj is building a new college

44:35 Advice for entrepreneurs

51:25 Bullying and adversity

In World War II, the U.S. government embraced a radical idea: putting scientists and technologists in charge of building advanced weapons. The rest, as we say, is history. What are the radical ideas we need today? And what can we learn from the history of Silicon Valley? 

This week, we talk with Steve Blank — serial entrepreneur, Stanford professor, and influential author who created concepts that define today's innovation ecosystem. After serving in the Air Force during the Vietnam War, Steve landed his first job at William Perry's now-famous Electromagnetic Systems Laboratory. He went on to launch several companies, from taking on Intel in microprocessor manufacturing to building early versions of CRM. His book, "Four Steps to the Epiphany," is credited as the intellectual backbone of the lean startup movement. He has also studied the Pentagon for decades, served on the Defense Business Board, and co-founded Stanford's Gordian Knot Center. 

We start with Steve's entrepreneurial journey and the evolution of Silicon Valley over the past 50 years, from helping end the Cold War to pioneering the computer and internet age. We also examine the devolution of government and its decline from the engine of technology and research in the 20th century to today's slow, bloated bureaucracy.  Steve outlines his bold ideas for reforming the Pentagon and outpacing China in the technology race; he also breaks down the difference between execution and innovation and how the best organizations, like SpaceX, can manage both simultaneously.  Finally, we discuss why Steve had called for a pause in AI research and, given his concerns over China, if we can afford to pause. 

00:00 Episode Intro

01:40 "Bill Perry was my first boss" 

7:43 The Secret History of Silicon Valley

12:14 How US govt fell behind SV

17:05 SpaceX vs NASA

22:00 Radical ideas for Pentagon 

26:28 Execution vs Innovation

31:13 Lean startup vs fat startup 

40:11 Does industrial policy work? 

43:40 Why did Steve call for AI pause? 

What does political courage look like in action? What does it mean to stand up to special interests? And what are the fights we must take on — and win — to keep America free and prosperous? 

I recently interviewed Oklahoma Governor Kevin Stitt at the Cicero Institute's 2024 Courage Awards, where we recognized him and other bold leaders from across the country for taking on cronyism and corruption in the face of great opposition.  Stitt considers himself a businessman governor: he started Gateway Mortgage with $1,000 and a computer before scaling it into a national company. He never sought public office before running for governor, and since he's taken charge, he's run it like a business: balancing budget shortfalls, streamlining permitting, and slashing regulations. More impressively, he's demonstrated real courage in standing up to powerful special interests, like the homelessness industrial complex, and others you might not expect, like the police union. 

Learn how he succeeded in getting real help to the homeless and mentally ill, and why he vetoed a pension increase for police officers. Stitt also explains how woke nonsense and cronyism manifest even in a deep red state — and how to fight it; why politics shouldn't be a career profession; and how he succeeded in passing one of the boldest school choice programs in the nation. Oklahoma has become one of the nation's fastest-growing states under his leadership, and you'll see why. 

00:00 Episode Intro

01:58 Entrepreneur to governor

05:29 Passing school choice

8:33 Taking on the homeless industrial complex

12:20 Vetoing police pension increase

15:45 Slashing regulations

19:05 Fixing the nursing shortfall / workforce readiness

22:13 Limiting the growth of government

For Episode 100, we have a special conversation with Elad Gil, one of Silicon Valley's great thinkers, builders, and investors. Elad has been involved with many of the leading technology companies of the past 20 years — and likely the next 20 years. Learn how he's backed dozens of unicorns, why he thinks AI is underhyped, and where he sees investment opportunities amid this new wave of disruption. 

An early leader at Google, Elad helped build the initial mobile team, before founding MixerLabs, which was acquired by Twitter in 2009. Elad stayed on as VP of Corporate Strategy and became a key "fixer" during Twitter's hypergrowth phase. Later, he co-founded Color Health, a genetic testing company specializing in cancer detection. Over the past decade, he's backed nearly 40 unicorns, including Airbnb, Coinbase, Figma, Instacart, and Stripe. He's also invested in Harvey, Mistral, Perplexity, Pika, and other leading AI startups. 

In this episode, Elad takes us behind the scenes of the early days of Google and Twitter, and how Silicon Valley culture has evolved. He explains his three categories of exceptional founders and how he positioned himself to become one of the top angel investors. We also dive deep into AI, from the trajectory of LLMs to frameworks for investing in the AI value stack. Finally, we discuss AI's impact on education and the most exciting possibilities for the decade ahead. 

00:00 Episode intro

01:16 Building Google’s mobile team

06:01 Early days at Twitter

11:37 Building Color Health

15:57 How he’s backed dozens of unicorns

21:52 How small clusters of talent change the world

25:20 Where are the young people in government?

27:25 Where are the young startup founders?

30:17 Why AI is underhyped

36:40 Will LLMs get exponentially better?

39:10 Investing in the AI value stack

41:33 AI and the future of education