Adam Bry is the co-founder and CEO of Skydio, the largest US drone manufacturer and, as of today, the company behind a $3.5 billion commitment to expand American manufacturing over the next five years. We spent the day at Skydio's San Mateo headquarters for a full tour of their facilities.

On the tour:

• The rooftop dock array (drones as cloud infrastructure)

• DFR Command, flown live

• The "wind wall" stress-testing hardware 24/7

• R10, the new indoor tactical drone

• F10, a fixed-wing thrown and caught by a robotic arm

• X10 water rescue demo with the auto-inflating rest tube

The $3.5B announcement involves a new US facility five times the size of the current one (Skydio's fifth expansion in eight years), over 2,000 new Skydio jobs, 3,000+ additional roles across the US supply chain, and more than $1 billion directed to domestic suppliers under a new program called SkyForge. Skydio already manufactures more dual-use drones than any company outside of China. This is the bet to keep it that way.

The backdrop: 60,000 drones shipped, 3,800+ customers, 1,200+ public safety agencies, every branch of the US military, and 29 allied nations. Skydio DFR now arrives on scene first 71% of the time and resolves nearly a quarter of calls without dispatching a patrol unit.

Adam Bry: https://x.com/adampbry

Molly O’Shea: https://x.com/MollySOShea 

Sourcery: ⁠https://x.com/sourceryy 

𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒

• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery

• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com

• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery

• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery

• Merge—The leading provider of customer-facing integrations and agentic tools for frontier LLMs, Fortune 500 organizations, and B2B SaaS companies. Visit https://merge.dev 

Follow Sourcery for the latest updates!

https://www.sourcery.vc/

Disclosure

Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.

𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒

(00:00) A flight every 30 seconds 

(00:57) Rooftop docks 

(03:26) Tour roadmap 

(04:42) Adam's RC airplane origin story 

(06:10) Flying a dock drone, live 

(10:04) The "force multiplier" moment 

(12:16) Multi-drone operations 

(14:17) Unarmed sensor platforms and the China context 

(15:29) Why community acceptance surprised Adam 

(19:31) The wind wall 

(20:40) R10, built for indoor tactical 

(23:30) Flying R10 through a barricaded-suspect scenario 

(27:30) Reading oil and gas gauges with a drone 

(29:26) F10, the fixed-wing caught by a robotic arm 

(30:40) X10 water rescue demo

Skydio announces $110M Series F at a $4.4B post-money valuation. CEO Adam Bry joins Sourcery to share Skydio’s funding process, commercial progress, & manufacturing edge at Skydio's Hayward factory. Skydio is the largest drone factory in the US at scale production.

"The most significant fact in our Series F is how little we are raising. Despite investor demand to put substantially more into the company… our capital needs are rapidly decreasing." – Adam Bry

In this conversation:

• $50M, 3,000 drone US Army contract and tripling production in 2026

• R10 indoor drone and F10 fixed wing

• Turning down DJI's acquisition offer in 2014

• Getting sanctioned by the Chinese government in 2024

• Drone as First Responder: Public Safety customers in 42/50 states, 42% auto theft reduction in SF

• Built a China independent supply chain & US manufacturing at scale

• Flying agentic AI & the future of autonomous robotics

• Adam's hottest take on the robotics hype cycle

If you're interested in reindustrializing America, drones, AI, robotics, and fundraising in hard tech, this one's for you.

Adam Bry: https://x.com/adampbry

Molly O’Shea: https://x.com/MollySOShea 

Sourcery: ⁠https://x.com/sourceryy 

𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒

• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery

• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com

• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery

• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery

• Merge—The leading provider of customer-facing integrations and agentic tools for frontier LLMs, Fortune 500 organizations, and B2B SaaS companies. Visit https://merge.dev 

Follow Sourcery for the latest updates!

https://www.sourcery.vc/

Disclosure

Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.

𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒
(00:00) Adam Bry, CEO of Skydio

(00:54) Inside Skydio Factory

(01:31) Series F & Scaling

(03:17) Customers And Growth

(04:10) Origins & Reliability

(08:04) Civilian Missions Focus

(09:19) Drones For Public Safety

(12:29) Edge Compute & Partners

(14:20) Expanding Drone Lineup

(17:10) Beating China & DJI

(19:34) US Supply Chain Resilience

(21:33) Reindustrialization Timeline

(22:35) Hiring & Leadership

(27:12) AI Agentic Drones

(30:08) Metrics & Operating Model

(31:49) Hottest Take And Advice

Hemant Taneja, CEO of General Catalyst, joins Sourcery to unpack GC's first-ever quarterly Review.

We cover why he wrote it, the state of GC's $43B ecosystem, why the software buyout model is broken, Anthropic's Series G at $380B, the $5B India commitment, buying Summa Health in Akron, the Anthropic–DoW controversy, Mythos and Project Glasswing, Nikesh Arora joining the board, and his take on "Tech Lash 2.0."

Plus: Is GC going public?

HUGE thank you to Deel Co-Founder & CRO Shuo Wang for the introduction to Reggie & the GC team, I am SO happy we were able to make this happen so quickly! What a treat. 

🔗 Read the Q1 2026 Review: https://hemant-taneja.com/

#VentureCapital #GeneralCatalyst #HemantTaneja #AI #Anthropic

Hemant Taneja: https://x.com/htaneja 

Molly O’Shea: https://x.com/MollySOShea 

Sourcery: ⁠https://x.com/sourceryy 

𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊

YouTube: https://youtu.be/hWI258ZHbxE

𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒

• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery

• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com

• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery

• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery

• Merge—The leading provider of customer-facing integrations and agentic tools for frontier LLMs, Fortune 500 organizations, and B2B SaaS companies. Visit https://merge.dev 

Follow Sourcery for the latest updates!

https://www.sourcery.vc/

Disclosure

Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.

𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒

(00:00) Hemant Taneja, CEO at General Catalyst

(01:21) Present state of General Catalyst

(05:08) Seed, Creation & the Customer Value Fund

(06:54) The purpose behind GC’s quarterly review

(08:53) What good tech journalism looks like

(12:26) The biggest AI themes right now  

(15:06) How AI is changing investing decisions

(19:25) Why seed and Series G require the same conviction

(22:55) Why does he holds two titles at once?

(25:17) Why Silicon Valley glorifies the wrong founders

(27:52) Building an AI-native hospital

(30:20) Managing funds through bubbles and hype cycles  

(33:13) How funds sell ownership stakes

(34:59) Why the software buyout model is broken

(38:44) Vista's new software buyout debt fund

(39:20) Global Resilience vs. American Dynamism

(41:49) GC’s $5B bet on India

(45:48) What global investing teaches you

(47:09) The four forces of tech lash

(50:12) Anthropic and the Pentagon

(54:06) Is GC going public?

(55:26) The Puka shell necklace era

Leif Abraham, Co-CEO of Public, joins Molly at the New York Stock Exchange for one of the more fun financial discussions on how Public is building the next-generation investing platform “for those who take it seriously." Public represents the first modern alternative to Schwab, Fidelity, and Vanguard — platforms built on decades-old infrastructure that haven't kept pace with today's investors or technology.

The results speak for themselves: millions of users, billions in assets under management, billions in trading volume, and revenue doubling annually as they continue to capture market share.

Public's differentiators include:

• AI agents that automate complex investment strategies

• "Generated Assets" AI-powered custom indices

• Comprehensive multi-asset trading across stocks, ETFs, crypto, options, treasuries, bonds

• Focus on sophisticated investors with real assets to compound

Leif and I explore how their AI-generated defense index hit 350% returns in one month (big surprise, lol), the future of financial advisors in an AI world, and why their co-CEO structure works better than solo leadership. Leif explains why they focus on the top 25% instead of chasing mass market speculation, plus his thoughts on AI, wealth inequality, and what it means for society.

For investors seeking a serious platform that combines traditional financial services with cutting-edge technology, this conversation offers valuable insights into where the industry is heading.

Leif Abraham: https://x.com/leifthunder 

Molly O’Shea: https://x.com/MollySOShea 

Sourcery: ⁠https://x.com/sourceryy 

𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊𝐒

YouTube : https://youtu.be/NF-VKevrIzg

𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒

• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery

• Turing—Turing accelerates superintelligence by helping frontier AI labs improve model capabilities and enabling enterprises to deploy end-to-end AI systems inside mission-critical workflows. Visit: turing.com/sourcery• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com

• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery

• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery

• Merge—The leading provider of customer-facing integrations and agentic tools for frontier LLMs, Fortune 500 organizations, and B2B SaaS companies. Visit https://merge.dev 

Follow Sourcery for the latest updates!

https://www.sourcery.vc/

Disclosure

Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.

Most announced data centers will never get built. The ones that do are running on gas generators. And the US grid has no answer for what's coming.

Hannan Happi, CEO & Co-Founder of Exowatt, joins Sourcery for a rare facility tour of their 40,000 sq ft Miami HQ — walking us through the tech, the team, and why the AI power crisis is far worse than the headlines suggest.

Exowatt has raised $140M from a16z, Felicis, Sam Altman, Leonardo DiCaprio, Starwood Capital, Thrive Capital, and more, all betting on a deceptively simple idea: concentrate sunlight with Fresnel lenses, store the heat in rocks at 1,000°C, and dispatch electricity on demand. 24 hours a day, no grid required.

Their P3 system is built from sand, dirt, and steel. Like a large magnified glass and a rock. No lithium. No cobalt. No China. Target cost: 1 cent per kilowatt hour.

Timestamps

(00:00) What is Exowatt? The solar backbone for AI data centers

(01:30) Why the US grid simply cannot handle what's coming

(02:00) Tour begins: Welcome to Lighthouse Miami — 40,000 sq ft facility

(02:45) The P3 explained: three elements, one shipping container

(04:00) The founding story: Atomic venture studio and the modular hypothesis

(05:30) Why solar thermal hasn't followed solar PV's 99.6% cost decline — until now

(07:00) North star: 1 cent per kilowatt hour and where they are today

(11:00) Inside the world's largest solar simulator — the sun, indoors

(13:00) The Fresnel lens up close: a giant magnifying glass for the sun

(15:00) "It's rock science" — the 5-year-old explanation of how it works

(17:30) Domestic raw materials (sand, dirt, steel) as the real competitive moat

(24:30) The phantom data center problem: most announcements won't get built

(26:00) From 100 MW to 10 GW: how data center scale exploded in 3 years

(30:00) Funding breakdown: $140M, a16z, Felicis, Sam Altman, Leonardo DiCaprio

(37:00) Lessons from Tesla: remove parts, iterate fast, build better

𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒

• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery

• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com

• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery

• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery

• Merge—The leading provider of customer-facing integrations and agentic tools for frontier LLMs, Fortune 500 organizations, and B2B SaaS companies. Visit: https://merge.dev

Follow Sourcery for the latest updates!

https://www.sourcery.vc/

Disclosure

Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.

Max Levchin, Co-Founder of PayPal and CEO of Affirm, joins Sourcery for a wide-ranging conversation on building companies, surviving failure, and navigating one of the most important economic shifts in decades.

We start inside Affirm HQ (with a masterclass in espresso) before getting into the story behind onboarding 800,000 Shopify merchants in a week, the lessons from PayPal that still apply today, and why the team is the single biggest determinant of success. Max also breaks down how AI is collapsing the cost and speed of building software — fundamentally reshaping company formation, competition, and the balance between labor and capital.

As intelligence becomes more accessible, he explains why weaker, more “scammy” companies will struggle to survive in a world where both consumers and builders are more informed — raising the overall bar for quality, execution, and truth. In parallel, the widespread availability of AI tools may effectively increase baseline capability across the population, shifting what it means to be skilled, technical, and competitive.

From reading research papers daily to staying ahead of rapid innovation cycles, he explains why this moment in AI may be even more consequential than the internet or mobile — and what it takes to build and lead in it.

This was recorded March 30, 2026.

Topics include:

• Building Affirm & scaling under pressure

• PayPal lessons & talent density

• Why ~85% of startups fail

• AI and the collapse of build costs

• Why low-quality / scammy companies will get exposed faster

• AI raising the baseline capability of builders

• Fintech, credit, and changing consumer behavior

  
  

Max Levchin: ⁠https://x.com/mlevchin⁠

Molly O’Shea: ⁠https://x.com/MollySOShea⁠ 

Sourcery: ⁠⁠https://x.com/sourceryy⁠ 

𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊

YouTube : ⁠https://youtu.be/yC_dWibdvHY⁠

𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒

• ⁠Brex⁠—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. ⁠https://brex.com/sourcery⁠

• ⁠Turing⁠—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. ⁠https://turing.com/sourcery⁠•⁠ VCX⁠—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at⁠ http://GetVCX.com⁠

• ⁠Deel⁠—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: ⁠https://www.deel.com/sourcery⁠

• ⁠Public⁠–Investing platform Public just launched ⁠Generated Assets⁠, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://⁠public.com/sourcery⁠

• ⁠Merge⁠—The leading provider of customer-facing integrations and agentic tools for frontier LLMs, Fortune 500 organizations, and B2B SaaS companies. Visit:⁠ https://merge.dev⁠

Follow Sourcery for the latest updates!

⁠https://www.sourcery.vc/⁠

Disclosure

Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at ⁠public.com/disclosures/ga⁠. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.

Max Levchin, Co-Founder of PayPal and CEO of Affirm, joins Sourcery for a wide-ranging conversation on building companies, surviving failure, and navigating one of the most important economic shifts in decades.

We start inside Affirm HQ (with a masterclass in espresso) before getting into the story behind onboarding 800,000 Shopify merchants in a week, the lessons from PayPal that still apply today, and why the team is the single biggest determinant of success. Max also breaks down how AI is collapsing the cost and speed of building software — fundamentally reshaping company formation, competition, and the balance between labor and capital.

As intelligence becomes more accessible, he explains why weaker, more “scammy” companies will struggle to survive in a world where both consumers and builders are more informed — raising the overall bar for quality, execution, and truth. In parallel, the widespread availability of AI tools may effectively increase baseline capability across the population, shifting what it means to be skilled, technical, and competitive.

From reading research papers daily to staying ahead of rapid innovation cycles, he explains why this moment in AI may be even more consequential than the internet or mobile — and what it takes to build and lead in it.

This was recorded March 30, 2026.

Topics include:

• Building Affirm & scaling under pressure

• PayPal lessons & talent density

• Why ~85% of startups fail

• AI and the collapse of build costs

• Why low-quality / scammy companies will get exposed faster

• AI raising the baseline capability of builders

• Fintech, credit, and changing consumer behavior

  
  

Max Levchin: https://x.com/mlevchin

Molly O’Shea: https://x.com/MollySOShea 

Sourcery: ⁠https://x.com/sourceryy 

𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊

YouTube : https://youtu.be/yC_dWibdvHY

𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒

• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery

• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com

• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery

• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery

• Merge—The leading provider of customer-facing integrations and agentic tools for frontier LLMs, Fortune 500 organizations, and B2B SaaS companies. Visit: https://merge.dev

Follow Sourcery for the latest updates!

https://www.sourcery.vc/

Disclosure

Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.

We got rare access inside Applied Intuition’s commercial garage with Co-Founders CEO Qasar Younis and CTO Peter Ludwig, where they’re building AI systems that power cars, trucks, mining equipment, defense systems, and more.

In a never-before-seen tour to the public, Applied Intuition showcases where/how real machines across industries are being rebuilt with AI.

Valued at $15B, Applied Intuition is one of the most important companies in physical AI, powering 18 of the top 20 global automakers and deploying autonomy across automotive, trucking, construction, agriculture, and defense.

Inside this garage, you’ll see:

• Self-driving cars, trucks, & heavy machinery

• Autonomous mining & construction operations

• Defense systems & remote-controlled fleets

• A unified operating system running across every machine

Qasar and Peter break down how one platform can run everything from a car to a boat to a mining site, and why the future of AI is no longer just software, but systems that move the real world.

This is what “atoms” looks like.

Qasar Younis: https://x.com/qasar

Peter Ludwig: https://www.linkedin.com/in/peterwludwig

Molly O’Shea: https://x.com/MollySOShea 

Sourcery: ⁠https://x.com/sourceryy 

𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊

YouTube : https://youtu.be/XhuG-xhw94A

𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒

• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery

• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com

• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery

• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery

• Merge—The leading provider of customer-facing integrations and agentic tools for frontier LLMs, Fortune 500 organizations, and B2B SaaS companies. Visit https://merge.dev 

Follow Sourcery for the latest updates!

https://www.sourcery.vc/

Disclosure

Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.

𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒

(00:00) Inside Applied Intuition physical AI garage

(03:00) Cars are a wiring mess

(04:31) Why modern architecture matters

(06:30) From simulators to autonomy

(07:50) Real-time autonomous operations

(08:34) AI solving labor shortages

(10:09) The mobile AI command center

(12:50) How defense became a core focus

(16:20) Becoming more public

(17:10) Connecting mines, ports, and roads

(19:07) Driverless trucks in Japan

(20:09) Why they don’t operate in China

(21:40) Which country is adopting fastest?

(23:00) Scaling a 1400-person AI company

(25:43) New vs old AI players

(27:49) "Bits are out, Atoms are in"

(29:40) Physical AI is just getting started

(32:06) The "Japan corner"

Qasar Younis (CEO) & Peter Ludwig (CTO) of Applied Intuition join Sourcery to break down how they’ve quietly built one of the most important AI companies in the world reaching a $15 billion valuation.

Founded in 2017, Applied Intuition is building the infrastructure layer for vehicle intelligence and physical AI, powering systems across automotive, defense, trucking, construction, mining, and agriculture. Today, 18 of the top 20 global automakers and major U.S. Department of Defense programs rely on their software.

The company has raised $1B+ in total funding, including a $600M Series F at a $15B valuation, co-led by BlackRock and Kleiner Perkins, with participation from global investors such as Franklin Templeton, Qatar Investment Authority, Abu Dhabi Investment Council, Premji Invest, Stripes, Greycroft, BAM Elevate, and 137 Ventures.

Existing investors include Fidelity Management & Research Company, General Catalyst, Lux Capital, BOND, Elad Gil, Addition, and Tribe Capital, alongside early backing from Marc Andreessen.

What makes the company especially unique: despite raising over $1B, Applied Intuition has largely not relied on that capital to fund operations, instead building a profitable, capital-efficient business with long-term customer contracts and deep integration across industries

In this conversation, we cover:

• Why physical AI is fundamentally different from software AI

• How breakthroughs like transformers unlocked real-world autonomy

• The company’s horizontal-first strategy across industries

• Why they stayed quiet for years—and why that changed

• How they deploy autonomy in defense and industrial environments

• What hiring looks like in the AI era

Applied Intuition isn’t building another AI app—it’s building the infrastructure for AI in the real world.

Qasar Younis: https://x.com/qasar

Peter Ludwig: https://www.linkedin.com/in/peterwludwig

Molly O’Shea: https://x.com/MollySOShea 

Sourcery: ⁠https://x.com/sourceryy 

𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊

YouTube: https://youtu.be/TyLDPNTbkEA

𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒

• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery

• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at http://GetVCX.com

• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery

• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery

• Merge—The leading provider of customer-facing integrations and agentic tools for frontier LLMs, Fortune 500 organizations, and B2B SaaS companies. Visit https://merge.dev 

Follow Sourcery for the latest updates!

https://www.sourcery.vc/

Disclosure
Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.

David Baszucki, Founder & CEO of Roblox, has quietly built one of the largest & most complex systems on the internet: a real-time, global platform with ~150 million daily active users, 35 billion hours of engagement per quarter, and a $6.8 billion digital economy running on top of massive AI and infrastructure.

But Roblox isn’t just scale — it’s a fully functioning economy. The platform has paid out over $1.5 billion to creators, with top 1,000 developers earning over $1.3 million on average, turning games into businesses and players into entrepreneurs. Underneath it all is a deeply engineered system.. 40+ global data centers, hundreds of thousands of servers, and hundreds of AI models powering everything from creation and discovery to safety and real-time interaction.

We go deep on how Roblox designed this economy from first principles, why AI will accelerate (not replace) creators, and what it takes to build a platform that blends gaming, social interaction, and entrepreneurship into one system. This is a curious blueprint for the future of the internet & real life where anyone can create, earn, and participate in a global digital world.

Subscribe to Sourcery for more conversations with the founders and leaders building the next generation of technology.

David Baszucki: https://x.com/DavidBaszucki 

Molly O’Shea: https://x.com/MollySOShea 

Sourcery: ⁠https://x.com/sourceryy 

𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊

YouTube: https://youtu.be/E0xl3PviQh4

𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒

• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery

• Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery• VCX—VCX is the public ticker for private tech, allowing investors of all sizes to invest in venture capital. View The Portfolio at https://GetVCX.com  

• Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery

• Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery 

• Merge—The leading provider of customer-facing integrations and agentic tools for frontier LLMs, Fortune 500 organizations, and B2B SaaS companies. Visit https://merge.dev 

Follow Sourcery for the latest updates!

https://www.sourcery.vc/

Disclosure

Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.

𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒

(00:00) David Baszucki, Co-Founder & CEO at Roblox

(01:21) A spicy start

(03:53) The 10% global gaming ambition

(05:40) The early vision that built Roblox

(07:45) Vision vs metrics

(09:08) The most underrated part of Roblox

(10:55) Why Roblox data matters for AI

(12:55) The future of AI-powered games

(16:27) AI won’t replace creators

(20:46) Virtual concerts and the future of AR/VR

(22:28) What “4D gaming” actually means

(24:29) Staying relevant across generations

(27:00) The viral engine

(27:58) Lessons on human behavior