The a16z Show

Do tariffs help rebuild American manufacturing or hold it back? 

In this episode, American Compass founder and chief economist Oren Cass sits down with commentator and author Noah Smith and a16z General Partner Erik Torenberg for a lively debate on the future of U.S. industry. 

They discuss the case for tariff-driven re-industrialization versus free-market approaches, the role of allies in trade policy, and what the numbers really show about manufacturing jobs, investment, and output. Along the way, they challenge each other’s assumptions and explore what it would take to actually bring more production back to American soil.

Timecodes:

0:00 Introduction & Framing the Debate

1:27 Oren Cass: Economic Philosophy & American Compass

4:02 Manufacturing, Family, and Community

5:00 Free Trade, Comparative Advantage, and Policy

8:30 Tariffs: US vs. China and Historical Context

9:30 Do Tariffs Help US Manufacturing?

15:00 Data, Indicators, and Economic Predictions

22:00 Theory, History, and the Role of Economics

28:00 Trade Deficits, Scale, and Global Competition

38:00 Negotiation, Game Theory, and Policy Tools

46:00 Trade Deficits, Scale, and Global Competition

1:03:23 Negotiating with Allies and the Limits of Tariff Threats

Resources: 

Find Oren on X: https://https://x.com/oren_cass

American Compass: https://americancompass.org/

Find Noah on X: https://x.com/noahpinion

Subscribe to Noah’s Substack: https://www.noahpinion.blog/

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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

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The AI hardware race is heating up, and NVIDIA is still far ahead. What will it take to close the gap?

In this episode, Dylan Patel (Founder & CEO, SemiAnalysis) joins Erin Price-Wright (General Partner, a16z), Guido Appenzeller (Partner, a16z), and host Erik Torenberg to break down the state of AI chips, data centers, and infrastructure strategy.

We discuss:

• Why simply copying NVIDIA won’t work, and what it takes to beat them
• How custom silicon from Google, Amazon, and Meta could reshape the market
• The economics of AI model launches and the shift toward cost efficiency
• Infrastructure bottlenecks: power, cooling, and the global supply chain
• The rise of AI silicon startups and the challenges they face
• Export controls, China’s AI ambitions, and geopolitics in the chip race
• Big tech’s next moves: advice for leaders like Jensen Huang, Sundar Pichai, Mark Zuckerberg, and Elon Musk

Resources: 

Find Dylan on X: https://x.com/dylan522p

Find Erin on X: https://x.com/espricewright

Find Guido on X: https://x.com/appenz

Learn more about SemiAnalysis: https://semianalysis.com/dylan-patel/

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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

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Genie 3 can generate fully interactive, persistent worlds from just text, in real time.

In this episode, Google DeepMind’s Jack Parker-Holder (Research Scientist) and Shlomi Fruchter (Research Director) join Anjney Midha, Marco Mascorro, and Justine Moore of a16z, with host Erik Torenberg, to discuss how they built it, the breakthrough “special memory” feature, and the future of AI-powered gaming, robotics, and world models.

They share:

• How Genie 3 generates interactive environments in real time
• Why its “special memory” feature is such a breakthrough
• The evolution of generative models and emergent behaviors
• Instruction following, text adherence, and model comparisons
• Potential applications in gaming, robotics, simulation, and more
• What’s next: Genie 4, Genie 5, and the future of world models
   

This conversation offers a first-hand look at one of the most advanced world models ever created.

Timecodes: 

0:00 Introduction & The Magic of Genie 3

0:41 Real-Time World Generation Breakthroughs

1:22 The Team’s Journey: From Genie 1 to Genie 3

5:03 Interactive Applications & Use Cases

8:03 Special Memory and World Consistency

12:29 Emergent Behaviors and Model Surprises

18:37 Instruction Following and Text Adherence

19:53 Comparing Genie 3 and Other Models

21:25 The Future of World Models & Modality Convergence

27:35 Downstream Applications and Open Questions

31:42 Robotics, Simulation, and Real-World Impact

39:33 Closing Thoughts & Philosophical Reflections

Resources:

Find Shlomi on X: https://x.com/shlomifruchter

Find Jack on X: https://x.com/jparkerholder

Find Anjney on X: https://x.com/anjneymidha

Find Justine on X: https://x.com/venturetwins

Find Marco on X: https://x.com/Mascobot

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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

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a16z General Partners Martin Casado and Anjney Midha join Erik Torenberg to unpack one of the most dramatic shifts in tech policy in recent memory: the move from “pause AI” to “win the AI race.”

They trace the evolution of U.S. AI policy—from executive orders that chilled innovation, to the recent AI Action Plan that puts scientific progress and open source at the center. The discussion covers how technologists were caught off guard, why open source was wrongly equated to nuclear risk, and what changed the narrative—including China's rapid progress.

The conversation also explores:

• How and why the AI discourse got captured by doomerism
• What “marginal risk” really means—and why it matters
• Why open source AI is not just ideology, but business strategy
• How government, academia, and industry are realigning after a fractured few years
• The effect of bad legislation—and what comes next

Whether you're a founder, policymaker, or just trying to make sense of AI's regulatory future, this episode breaks it all down.

Timecodes:

0:00 Introduction & Setting the Stage

0:39 The Shift in AI Regulation Discourse

2:10 Historical Context: Tech Waves & Policy

6:39 The Open Source Debate

13:39 The Chilling Effect & Global Competition

15:00 Changing Sentiments on Open Source

21:06 Open Source as Business Strategy

28:50 The AI Action Plan: Reflections & Critique

32:45 Alignment, Marginal Risk, and Policy

41:30 The Future of AI Regulation & Closing Thoughts

Resources

Find Martin on X: https://x.com/martin_casado

Find Anjney on X: https://x.com/anjneymidha

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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

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We’re sharing an episode from ChinaTalk that dives into one of the biggest recent reversals in U.S. tech policy.

The U.S. banned Nvidia’s H20 AI chips to China in April. Now, just months later, they’re being sold—with a 15% export fee. What happened? Why the reversal? And what does it mean for the future of AI competition between the U.S. and China?

Chris Miller—author of Chip War—and Lennart Heim from RAND join ChinaTalk host Jordan Schneider to unpack the policy flip-flop, why China is publicly downplaying interest in the H20, and why high-bandwidth memory and semiconductor manufacturing tools may be even more important than the Nvidia chips themselves.

Resources:

Listen to more from ChinaTalk: https://link.chtbl.com/chinatalk

Check out the Horizon Fellowship to work in DC on emerging tech policy issues like AI chip export controls: https://horizonpublicservice.org/applications-open-for-2026-horizon-fellowship-cohort/

Outro Music: It's a Shame, The Spinners, 1970

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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

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a16z partners Olivia and Justine Moore unpack the latest in consumer AI including: 

- Grok’s “Imagine” and its instant, social-first creative tools

- Google’s Genie 3 and the future of 3D worlds

- GPT-5: what’s new, what’s missing, and why some want their old chatbot back

- AI-generated music from ElevenLabs

- Olivia’s vibecoded Jensen Huang selfie app

Timecodes: 

0:00 Introduction & This Week's Topics

0:24 Grok Imagine: Social AI Image & Video Generation

4:48 GPT-5 Release & GPT-4 Deprecation

5:36 Comparing GPT-5 and GPT-4: Coding vs. Personality

9:13 AI for Mental Health: Illinois Law & Industry Impact

12:29 Genie 3: Interactive World Models from Google

16:53 ElevenLabs Music Model: Licensed AI Music Generation

19:16 Vibecoding: Consumer Experiments & Platform Evolution

24:14 The Future of Vibecoding & AI Tools

27:05 Conclusions 

Resources:

Find Olivia on X: https://x.com/omooretweets

Find Justine on X: https://x.com/venturetwins

Read Anish and Justine’s  vibecoding post: https://a16z.com/specialized-app-gen-platforms/

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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

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Fresh off the announcement of his move from Shopify to a16z, Alex Danco joins TBPN to talk about the “trade deal” that brought him here and his mission to make the firm’s written content truly world class.

He discusses why he believes writing still matters in the age of AI, how great prose can act as “power transfer technology” for founders, and why he’s betting on the overlooked art of speechwriting. Alex also reflects on his years as a founder, investor, and longtime blogger, and shares the formats he’s most excited to explore, from deal memos to launch speeches.

Timecodes: 

0:00 Joining a16z

0:41 The Power of Writing & Speechwriting

2:45 Reflections on Blogging & Communication

5:10 Writing as Power Transfer Technology

6:46 Formats & Content at a16z

8:09 The Underrated Art of Speechwriting

11:21 The Evolution of Blogging & Audience

12:23 Looking Forward: Brand & Legacy

Resources:

Find Alex on X: https://x.com/Alex_Danco

Watch TBPN: https://www.tbpn.com/

Follow TBPN on X: https://x.com/tbpn

Stay Updated: 

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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

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There’s been a wave of M&A deals lately - Meta and Scale, Windsurf and Google - and a lot of it points to something bigger: how regulation, capital, and innovation are colliding in 2025.

In this episode Erik Torenberg brings together Steven Sinofsky, former Microsoft Executive and Balaji Srinivasan, founder of the Network School, and author of the Network State to break it all down. 

From acquihires to “acquifires,” from FTC crackdowns to the deeper battle between the state and the network, this is a sharp conversation on the future of tech and power.

Resources

Find Balaji on X: https://x.com/balajis

Find Steven on X: https://x.com/stevesi

Learn more about The Network State: https://thenetworkstate.com

Learn more about The Network School: https://ns.com

Stay Updated: 

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Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

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Follow our host: https://x.com/eriktorenberg

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

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In this episode, Marc Andreessen joins TBPN for an unfiltered conversation spanning everything from ads in LLMs to why Apple’s AI strategy may be risky for anyone not named Apple.

Marc breaks down the current state of AI: why open source is resurging, how foundational research is (or isn’t) turning into product, and whether we’ve hit the moment when phones start to fade as dominant platforms. He also shares his candid thoughts on Meta’s wearable wins, Vision Pro’s imperfections, and how humor and deep research are his two favorite use cases for AI today.

Timecodes:

0:00 Intro  

2:41  The Pace of AI and Technology Cycles  

4:03  Research vs. Productization in AI Companies  

5:15  Apple’s Strategy: Last Mover Advantage  

7:09  The Future Beyond Smartphones  

10:23  Open Source AI: Progress and Challenges  

13:49  Ads in AI: Business Models and User Experience  

15:52  Legal Frameworks for AI and Data  

17:53  Lightning Round: How Mark Uses AI  

19:01  Breaking into Venture Capital in 2025  

20:34  M&A, Survivorship Bias, and Company Resilience  

Resources

Watch TBPN: https://www.tbpn.com/

Marc on X:   https://x.com/pmarca

Marc’s Substack: https://pmarca.substack.com/

Stay Updated:

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Follow our host: https://twitter.com/eriktorenberg

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

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ChatGPT-5 just launched, marking a major milestone for OpenAI and the entire AI ecosystem.

Fresh off the live stream, Erik Torenberg was joined in the studio by  three people who played key roles in making this model a reality:

• Christina Kim, Researcher at OpenAI, who leads the core models team on post-training
• Isa Fulford, Researcher at OpenAI, who leads deep research and the ChatGPT agent team on post-training
• Sarah Wang, General Partner at a16z, who helped lead our investment in OpenAI since 2021

They discuss what’s actually new in ChatGPT-5—from major leaps in reasoning, coding, and creative writing to meaningful improvements in trustworthiness, behavior, and post-training techniques.

We also discuss:

• How GPT-5 was trained, including RL environments and why data quality matters more than ever
• The shift toward agentic workflows—what “agents” really are, why async matters, and how it’s empowering a new golden age of the “ideas guy”
• What GPT-5 means for builders, startups, and the broader AI ecosystem going forward

Whether you're an AI researcher, founder, or curious user, this is the deep-dive conversation you won't want to miss.

Timecodes:

0:00 ChatGPT Origins

1:57 Model Capabilities & Coding Improvements

4:00 Model Behaviors & Sycophancy

6:15 Usage, Pricing & Startup Opportunities

8:03 Broader Impact & AGI Discourse

16:56 Creative Writing & Model Progress

32:37 Training, Data & Reflections

36:21 Company Growth & Culture

41:39 Closing Thoughts & Mission

Resources

Find Christina on X: https://x.com/christinahkim

Find Isa on X: https://x.com/isafulf

Find Sarah on X: https://x.com/sarahdingwang

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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures

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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

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