The grid powers everything around you. And it is in crisis. We cannot build AI, decarbonize our economy, or deliver affordable electricity if we don’t rebuild. And yet, the largest machine humankind has ever made is a miracle.

For nearly a century, electricity got cheaper every decade and the grid became so reliable that we stopped thinking about it altogether. This machine was not designed; it accumulated through a century and a half of decisions with unforeseen consequences. And now we are demanding that this aging, fragmented system grow faster than it has in generations.

To understand the struggle and opportunity of this moment, we have to understand how the grid came to be. It is an epic story of inventors and electrocutions, of a man who brought power to the masses and then lost everything, of an America that built massive new industries to win wars, of regulatory ambition and regulatory failure, of catastrophic blackouts, and of a trillion-dollar energy transition we are living through right now.

Plug in for the story of the grid. This is the fourth episode of the Stepchange Show where we explore the technologies and systems that have transformed human civilization.

Read the full transcript and research notes.

Presented by Crusoe:

Crusoe is the vertically integrated AI company, with over 3 gigawatts of AI data center infrastructure built. Crusoe Industries manufactures everything from custom server systems to industrial controls — and is opening that capability to customers who want to build data centers faster. Get in touch: crusoe.ai/stepchange

Chapters

(00:00:00) - The Largest Machine (Intro)

(00:03:28) - Dawn of Electricity (1700s–1870s)

(00:14:16) - War of the Currents (1870s–1890s)

(00:42:51) - The Utility Monopoly (1890s–1930s)

(01:20:58) - New Deal & WWII (1930s–1945)

(01:46:34) - Boom & Cracks (1950s–1970s)

(02:14:40) - The Restructuring Era (1970s–2000s)

(02:53:38) - Renewables & Climate (2000s–2020s)

(03:16:32) - AI Demand Shock (2020s+)

(03:42:08) - Affordability Crisis (Today)

(04:00:36) - Reflections & The Future (What’s Next)

The Stepchange Show is a production of Stepchange Ventures. Hosted by Ben Shwab Eidelson and Anay Shah. We would love to hear from you at [email protected].

Welcome to the third episode of the Stepchange Show—where we explore the technologies and systems that have transformed human civilization.

Every time you stream a movie, send a text message, scroll a feed, or chat with your favorite AI, you’re touching an invisible, physical empire. We call it the cloud, but it isn’t in the sky. It is astonishingly physical—alive in over 12,000 buildings around the world, consuming almost five percent of U.S. electricity, and running through cables laid across the ocean floor.

This is the story of data centers. From the humming punch-card rooms of the 1930s to the Cold War projects that accidentally birthed the internet, and onward to the gigawatt-scale AI factories of today, data centers have quietly become the industrial engine of our era. Six companies—NVIDIA, Microsoft, Apple, Alphabet, Amazon, and Meta—now dominate global markets in part because they command this infrastructure, just as railroads, steel, and oil once defined the fortunes of the last century.

Data centers are the machines behind the modern world. They shape commerce, media, communication, and now artificial intelligence, and raise profound questions about energy, water, and climate.

Join us as we uncover the physical reality of our digital world.Four main parts:

Part I — Early Mainframes and the Birth of the Internet - 00:00:00

Part II — The Utility of the Cloud and the Hyperscalers - 01:16:13

Part III — The COVID Acceleration + AI Frenzy - 02:32:48

Part IV — Themes & Reflections - 03:40:10

Thank you for joining us for the third episode of Stepchange. Don’t forget to subscribe.

Hosted by Ben Shwab Eidelson and Anay Shah. We would love to hear from you at [email protected].

Full chapter times:

00:00:00 - The Invisible Empire of Data Centers

00:03:11 - IBM Punch Cards: The First Nerve Center

00:17:12 - SAGE: Connecting the Mainframes

00:27:27 - The APARNET: The Cold War Births the Internet

00:49:15 - The .Com Boom: The World Gets Wired

01:16:13 - AWS: The Utility of the Cloud

01:36:25 - Google: Warehouse Scale Computers

01:58:28 - Microsoft: From Software to Services

02:18:19 - Facebook: Sharing the Blueprints

02:32:48 - COVID: Five Years of Growth in 18 Months

02:45:53 - AI: The Dawn of the AI Age, Powered by NVIDIA

02:53:46 - Power & Water: The Gigawatt Problem

03:10:48 - Chips & Data: The New Cold War

03:19:18 - Climate: The Emissions of Data Centers

03:33:43 - Present Day Scale: Compute, Storage, and Communication

03:40:10 - Themes: Our Takeaways and Reflections

Listen to this on Apple Podcasts, Spotify, YouTube, or wherever you listen to podcasts.

Welcome to the second episode of Stepchange—where we explore the technologies and systems that have transformed human civilization.

In Part II of our coal saga, we witness how this ancient rock evolved from household hearths to the invisible force powering the modern world. The 20th century would see coal take on its most consequential role yet—as the foundation of electrical grids that would light cities, power industry, and ultimately reshape geopolitics.

We journey through coal's central role in America's Gilded Age monopolies, the brutal labor battles that defined generations of miners' lives, and the critical part it played in two world wars. We'll see how coal fueled China and India's economic miracles even as it began to fade in the West, and how these competing trajectories continue to shape our climate future.

Coal remains the single largest source of electricity globally and our greatest contributor to climate-impacting emissions. Its story isn't just history—it's the backdrop against which our energy transition must unfold.

Thank you for joining us for the second episode of Stepchange. Don’t forget to subscribe. Share your thoughts by emailing us at [email protected].

Hosts: Ben Shwab Eidelson and Anay Shah

Referenced & Recommendations:

* Coal: Part I

* Our World in Data

* Abundance by Ezra Klein and Derek Thompson

* Climate Papa with Travis McCoy and David Roberts

* Deli Boys

Introducing the Stepchange Show.

Full notes at stepchange.show

Welcome to the debut episode of Stepchange—a podcast telling the stories of human progress. We unpack the technologies, systems, and infrastructure that shape our world.

Coal is the story of a step change—a transformation so profound that it reshaped the course of human history. The rise of coal reshaped economies, societies, and the very way we live. It became the foundation of the Industrial Revolution and powered a new era of progress, but this leap forward came at a tremendous cost.

Coal’s story begins with ancient plants that captured sunlight and locked away carbon over millennia. These deposits, buried deep in the Earth, would one day drive empires and fuel industries that transformed the world. Yet, behind this transformation lies a complex and often difficult legacy.

Even as coal has faded from the forefront of our energy landscape, its fingerprints remain everywhere. The technologies it spawned, from steam engines and the rail to industrial manufacturing, continue to underpin our modern world. At the same time, coal’s legacy is inseparable from many of the challenges we face today, from labor abuse and environmental degradation to global climate change.

In this debut episode, we explore the first chapter of coal's story, from its early discovery and use through the dawn of the 20th century.

Thank you for joining us for the first episode of Stepchange. Don’t forget to subscribe and share your thoughts by emailing us at [email protected].

Hosts: Ben Shwab Eidelson and Anay Shah

Timestamps

00:00:00 - Welcome to Stepchange00:03:37 - The Birth of Coal00:09:39 - Coal's Early History00:17:01 - Britain's Coal Transformation00:25:49 - Reshaping Home & Hearth00:34:49 - The Iron & Coke Revolution00:44:28 - The Steam Engine Breakthrough01:03:37 - The Railway Revolution01:19:50 - The Rise of Industrial Cities01:38:57 - Life in the Mines01:54:37 - Coal Comes to America02:24:11 - Themes & Reflections

Closing reading & listening recommendations:

* Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World

* Brian Cox

* Google’s quantum chip Willow announcement

* The Singularity Is Nearer: When We Merge with AI

* Quantum Country: A free introduction to quantum computing and quantum mechanics

* Never Enough: From Barista to Billionaire

* Meditations for Mortals

For episode sources and a full transcript see show notes at stepchange.show/p/coal-part-i