Tony Kim is Managing Director and Head of the Global Technology Team within Fundamental Equities at BlackRock. Recorded at the RAISE Summit in Paris, where Tony spoke on 4 panels, next-gen accelerators with d-Matrix, quantum computing with PsiQuantum, optics in data center design with Lumentum, and XPU and AI chip co-design with Broadcom.Tony breaks down the shift from a software-centric world to a compute-centric one, and why roughly $1 trillion of CapEx this year, and $10 trillion over the next 5 years, is being spent to move data centimeters and millimeters. He maps the market cap transformation, roughly $10 trillion in software, services, and internet, $20 trillion in Mag 7, and $30 trillion in non-Mag 7 chips and hardware.We cover the RAMpocalypse and why memory intensity is skyrocketing as AI models start to mirror the human brain, the 3 to 4 year duration mismatch between fab buildouts and today's demand, and the move from copper to light inside the data center.Tony also lays out his capital allocation framework, 90% in the 3-year AI vortex and the rest on frontier bets like quantum, orbital data centers, SMRs, and 800-volt power architectures, all converging on 2030. Plus, the coming wave of 30 to 40 Chinese robotics IPOs, mixing Chinese robot bodies with Western brains, his contrarian case for social robots addressing loneliness and aging populations, token flow as the new enterprise framework, and the mentors who shaped his career.We cover:› Why AI is forcing a complete rebuild of data centers› The shift from software to compute› Why memory becomes the next critical bottleneck› The future of AI chip co-design› How investors should think about AI infrastructure› Quantum, orbital data centers and the road to 2030› Why robotics could become AI's next trillion-dollar market› China's robotics advantage› The enterprise AI stack and "token flow"› How BlackRock evaluates long-term technology investmentsTony Kim: https://www.linkedin.com/in/tony-kim-3150053/Molly O’Shea: https://x.com/MollySOShea Sourcery: ⁠https://x.com/sourceryy 𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊YouTube : https://youtu.be/zXB-LI7skL8𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery • MongoDB–Millions of developers and more than 65,200+ customers across industries, including ~75% of the Fortune 100, rely on MongoDB for their most important applications. With integrated capabilities for operational data, search, real-time analytics, & AI-powered data retrieval, MongoDB helps organizations everywhere move faster, innovate more efficiently, & simplify complex architectures. https://mongodb.com/ai• AssemblyAI–Millions of developers use AssemblyAI to power their voice ai applications and features. One API gives you access to best-in-class speech-to-text, voice agent, and speech understanding models for both pre-recorded and real-time audio.  Granola, ClickUp & HeyGen are scaling with AssemblyAI - get $50 of free credits today at http://AssemblyAI.com/sourcery 𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒(00:00) Tony Kim, Head of BlackRock Fundamental Equities Global Technology(01:10) Secret Location, Croissants, and the RAISE Summit(03:52) Why Compute now rules everything(05:17) Why old data centers can't survive AI(07:43) Why data centers are ditching Copper for Light(10:44) The shortage nobody saw coming: RAM(15:20) Only three companies control memory (16:03) Tony's Playbook for Investing in the AI Era(18:16) The 20-year lie: "Compute is just a Commodity"(22:38) How Hardware quietly became bigger than Software(27:49) The Investing Rule: Will you still be cool in 5 years?(38:16) Chips were never a Commodity(43:30) Inside the architecture of a Robot's mind(45:03) Why China Is winning the Robotics race(53:07) "Token Flow": Tony's Framework for the Future Enterprise(1:03:51) The mentors who shaped Tony Kim's worldview

Bridgit Mendler, Co-founder & CEO of Northwood Space, gives Sourcery a first look inside the company’s new 185,000 sqft headquarters and factory in Torrance, California.Northwood has raised over $136M since 2022, including a $100M Series B in January 2026 led by Washington Harbour Partners and co-led by Andreessen Horowitz, with Founders Fund, 137 Ventures, Alpine Space Ventures, Balerion and Fulcrum participating. The company also signed a $49.8M contract with the US Space Force to support the Satellite Control Network.The new facility will more than 5x Northwood’s manufacturing footprint, support production of hundreds of antennas per year, and add 400 jobs over the next three years as the company works to solve one of the biggest bottlenecks in the space economy: getting data between satellites and Earth.We tour the future manufacturing floor, antenna production lines, machining and PCB assembly areas, anechoic testing chambers, and a former movie theater that Northwood plans to turn into mission operations. The new facility will include dedicated production for Northwood’s Portal phased-array and Prism parabolic systems, while bringing more critical manufacturing and testing in-house.Bridgit also breaks down why ground infrastructure has fallen behind the explosion in satellites, Northwood’s Space Force contract, the economics of satellite connectivity, building a global ground network, supply-chain strategy, national security, and her approach to leadership and scaling Northwood.“If you can improve the networking for the space economy, that is how you translate bits into dollars.”Bridgit Mendler: https://x.com/bridgitmendlerMolly O’Shea: https://x.com/MollySOShea Sourcery: ⁠https://x.com/sourceryy 𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊YouTube: https://youtu.be/8SGgaMiGv6g𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery • Applied Aerospace—As global competition intensifies, strategic leadership demands space and defense technologies that deliver enduring national capabilities. At Applied Aerospace & Defense, we unleash the power of advanced manufacturing with unmatched scale and agility. Visit: https://applied-ad.com• 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  Follow Sourcery for the latest updates!https://www.sourcery.vcDisclosurePaid 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.

Tour 02: We’re back inside Rocket Lab with Founder & CEO Sir Peter Beck, this time for a behind-the-scenes tour of the company’s Engine Development Center and the technology powering Electron and its next-generation Neutron rocket.Peter walks us through Rocket Lab’s additive manufacturing operation, where the vast majority of its engines by mass are 3D printed, and breaks down the engineering behind Rutherford and the much larger Archimedes engine being built for Neutron.We see Archimedes thrust chambers, turbopumps, 12-laser metal 3D printers, the Rutherford engines powering Electron, and an Archimedes production line capable of producing an engine every eight days.Peter explains why Rocket Lab chose methane for Neutron, how designing for reusability changes almost every engineering decision, why an Archimedes engine must survive 40 starts and one hour of qualification burn time, and Rocket Lab’s goal of building a rocket that can come off the barge, go straight back onto the pad, and launch again.We also get into how Rocket Lab acquired more than $100 million of Virgin Orbit assets for $16 million, why Peter thinks some “zombie” space companies refuse to die, the difficulty investors have diligencing rocket companies, and why Rocket Lab believes vertical integration has been critical to its success.And Peter leaves us with his view on where the space industry goes from here: “I think the biggest thing to be done in space hasn't even been thought about, let alone talked about.”This is Tour 02, the second and final part of our Rocket Lab factory tour.Catch up on the full series:Part I: Our full sit-down interview with Sir Peter BeckPart II / Tour 01: Inside Rocket Lab HQ, Mission Control & Satellite ManufacturingPart III / Tour 02: Inside Rocket Lab’s Engine Development Center, Rutherford & Archimedes𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊YouTube: https://youtu.be/g83mTdM5tQA𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery • Applied Aerospace—As global competition intensifies, strategic leadership demands space and defense technologies that deliver enduring national capabilities. At Applied Aerospace & Defense, we unleash the power of advanced manufacturing with unmatched scale and agility. Visit: https://applied-ad.com• 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  Follow Sourcery for the latest updates!https://www.sourcery.vcDisclosurePaid 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.

Factory Tour 1 of 2: We went inside Rocket Lab with Founder & CEO Sir Peter Beck for a behind-the-scenes look at how one of the world’s leading space companies actually builds.In the first part of our Rocket Lab factory tour, Peter takes us through the company’s Long Beach headquarters, mission control, satellite manufacturing, spacecraft testing, electric propulsion, and NASA’s LOxSAT program.Along the way, we trace Rocket Lab’s evolution from a tiny New Zealand startup with less than $100,000 NZD in capitalization to a global, publicly traded space company spanning launch, satellites, spacecraft components, propulsion, defense, and interplanetary missions.Peter breaks down Rocket Lab’s capital-efficient culture, why he took the company public, its acquisition strategy, the hidden moat in spacecraft components, and his goal of building a multi-generational space company that continues long after he’s gone.We also get into Rocket Lab’s earliest rockets, Khosla and Bessemer’s first investments, NASA’s CAPSTONE mission to the Moon, the search for life on Venus, and what Peter believes most new space companies underestimate.This is Factory Tour 1 of 2. In Tour 2, we head inside Rocket Lab’s propulsion & engine facilities.Peter Beck: https://x.com/Peter_J_BeckMolly O’Shea: https://x.com/MollySOShea Sourcery: ⁠https://x.com/sourceryy 𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊YouTube: https://youtu.be/RTcF6jqrTYs𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒• Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery • Applied Aerospace—As global competition intensifies, strategic leadership demands space and defense technologies that deliver enduring national capabilities. At Applied Aerospace & Defense, we unleash the power of advanced manufacturing with unmatched scale and agility. Visit: applied-ad.com/• 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  Follow Sourcery for the latest updates!https://www.sourcery.vcDisclosurePaid 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) Touring inside Rocket Lab's HQ(01:44) The origin story(07:14) Too much Capital can kill a startup(09:03) Why Rocket Lab decided to go public(10:45) From Rockets to an entire Space Ecosystem(15:11) Where Escapade and CAPSTONE were flown(18:08) Inside the Electric Propulsion Lab(19:58) Inside the Thermal and Shock Testing Facility(21:45) Inside the NASA LOxSAT project(24:00) Up Next: Inside the Engine Lab

Sir Peter Beck founded Rocket Lab 20 years ago. Today, the company is scaling far beyond launching rockets.Rocket Lab (NASDAQ: RKLB) just posted a record Q2 2026:• $234M revenue, +62% YoY• $2.36B record backlog, +137% YoY• $437M+ in new launch contracts• $581M+ in new Space Systems contracts• 90+ launches in backlog• Q3 revenue guidance of 250M–265MWe sat down with Founder & CEO Sir Peter Beck after touring Rocket Lab’s Long Beach facility to break down what comes next.Peter explains Rocket Lab’s transformation from a launch company into an end-to-end space company spanning rockets, satellites, components, defense, and communications.We get into Neutron and why Peter believes investors should be asking about the 10th launch, not just the first, the strategy behind the Iridium acquisition, Rocket Lab’s growing national security business, Flatellite, its acquisition playbook, and why going public gave the company the firepower to pursue opportunities it never could have as a private company.We also discuss Neutron’s delays, Archimedes, reusability, Rocket Lab’s vertically integrated manufacturing strategy, building an entire space industry from scratch in New Zealand, and Peter’s long-term ambition to build a multi-generational company.Plus: aliens, getting knighted, why Archimedes engines are painted black, and Peter’s surprisingly simple philosophy on business.Peter Beck: https://x.com/Peter_J_BeckMolly O’Shea: https://x.com/MollySOShea Sourcery: ⁠https://x.com/sourceryy 𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊YouTube: ⁠⁠https://youtu.be/mpOy_UarJKg⁠⁠𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒• 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  Follow Sourcery for the latest updates!https://www.sourcery.vcDisclosurePaid 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) Sir Peter Beck, Founder & CEO at Rocket Lab(00:59) Rocket Lab's biggest quarter(02:53) The competitive edge in Space(04:10) Rocket Lab's Acquisition Strategy(05:04) Reason behind the Iridium Deal(06:13) Competing with Blue Origin & SpaceX(11:19) Building a Launch Monopoly in New Zealand(12:33) Is this why Peter got Knighted?(16:42) Beating SpaceX to the Public Markets(20:05) Why Neutron is still facing delays(27:38) Rocket Lab's latest contract wins(29:04) How defense became a prime mover for Rocket Lab(30:39) Ghost: Rocket Lab's portable launch pad(31:30) Has he seen Aliens?

Ben Lamm is the Co-founder and CEO of Colossal Biosciences + their AI spinout, Astromech. Colossal is the $12 billion de-extinction company using genome engineering, AI and reproductive technologies to bring extinct species back to life, while Astromech is its AI biology spinout, now valued at $3.8 billion.We went inside Colossal’s lab to see its Gen 2 woolly mice and sat down with Ben to discuss the technology behind the dire wolf, the race to bring back the woolly mammoth, and the much bigger business being built underneath de-extinction.Colossal has raised $635 million, including a recent $400 million round that was originally targeted at $200 million. Ben explains why he still believes Colossal is “one of the most undervalued companies in the world,” and how technologies developed inside the company are creating entirely new businesses.Astromech, the AI biology spinout Co-founded by Lamm and George Church, just raised $20 million at a $3.8 billion valuation, bringing total funding to $60 million. Astromech is using evolutionary and multispecies genomic data to build AI models designed to predict biological change, with potential applications across cancer, disease and drug discovery.We cover Colossal’s rise, woolly mice, dire wolves, mammoths, artificial wombs, genome editing, AI and biology, Astromech, and what happens when humans learn to program life.Ben Lamm: https://x.com/BenLamm Molly O’Shea: https://x.com/MollySOShea Sourcery: ⁠https://x.com/sourceryy 𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊YouTube: https://youtu.be/zCQuSExl0gI𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒• 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  Follow Sourcery for the latest updates!https://www.sourcery.vcDisclosurePaid 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) Ben Lamm, Co-Founder & CEO at Colossal Biosciences (01:07) Inside Colossal's De-Extinction Lab(06:02) The AI idea that could save the planet(08:28) Revealing Colossal's woolly mice(10:49) Wild requests they get every day(13:35) Colossal's business model(15:07) How Colossal raised $635 million(20:17) How AI is converging with Biotech(22:44) How ancient DNA actually gets to the lab(26:24) The real stats behind Mass Extinction(32:07) Will their animals ever live in the wild?(41:44) Choosing their earliest backers(52:51) Why they refuse to work on Humans(58:07) Are they secretly working on Aliens?

Nikesh Arora is the Chairman and CEO of Palo Alto Networks, the cybersecurity giant that has grown from roughly $18 billion in market cap when he joined to around $300 billion today.We sat down at Palo Alto Networks to discuss why Nikesh believes the AI cybersecurity boom is only beginning, how companies will defend themselves against increasingly powerful AI attacks and rogue agents, and why the time between discovering a vulnerability and exploiting it is collapsing.Nikesh also explains why he signed Jensen Huang’s recent open-source AI letter, what the rise of autonomous agents means for enterprise security, and why he believes the entire software industry will be rewritten over the next decade.We also go inside the operating playbook behind Palo Alto Networks’ rise, including 40+ acquisitions in eight years, the $28 billion CyberArk deal, Nikesh’s “paranoia” about disruption, hiring AI-native talent through hackathons, and the lessons he took from Larry Page at Google and Masayoshi Son at SoftBank.Nikesh Arora: https://x.com/nikesharoraMolly O’Shea: https://x.com/MollySOShea Sourcery: ⁠https://x.com/sourceryy 𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊YouTube: ⁠https://youtu.be/_v_ryYwmfM0⁠𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒• 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  Follow Sourcery for the latest updates!https://www.sourcery.vcDisclosurePaid 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) Nikesh Arora, Chairman & CEO at Palo Alto Networks(00:51) The AI attack era has already started(03:30) What happens when agents go rogue(04:39) Why AI Labs are slowing down(06:31) The Mythos Fallout(17:25) Cybersecurity's secret weapon(19:43) Buying a company is the easy part(20:48) Where most acquisitions go wrong(24:58) Predicting the SaaS Crash?(28:03) The question nobody in Tech is asking(30:54) There's never enough Compute(33:12) Palo Alto's bar for AI fluency(35:37) The controversial hire(37:12) Using LinkedIn to spot opportunities(39:19) What a CEO's day actually looks like(43:47) The leadership traits that matter(47:02) Google vs. SoftBank: What was different?(51:02) Why planning horizons are shrinking(52:55) Lessons From Elon & Masa(56:44) What's next for Nikesh?

Adam Foroughi, Co-Founder & CEO of AppLovin, and Giovanni Ge, CTO of AppLovin, join Sourcery from AppLovin’s Palo Alto headquarters for a deep dive into the technology and strategy behind its advertising business.Gio joined AppLovin in late 2022, when the company was worth roughly $5.5 billion, and helped architect Axon 2, the recommendation engine that became central to AppLovin’s transformation. The new architecture improved predictions and advertiser returns, helping drive the company’s expansion beyond mobile gaming into e-commerce ads and its recovery from a 92% post-IPO decline to a $100B+ company.Adam and Gio break down how Axon works, how AppLovin scales with a remarkably lean engineering team, how AI is changing the way they build, why knowing what not to build matters, and what it would take for AppLovin to eventually become a trillion-dollar company.We also cover AppLovin’s expansion into e-commerce, the future of advertising across LLMs and connected TV, engineering culture, and how they think about building for the next five to ten years.Adam Foroughi: https://www.linkedin.com/in/adamforoughi/Giovanni Ge: https://www.linkedin.com/in/xiaochuan-giovanni-ge/Molly O’Shea: https://x.com/MollySOShea Sourcery: ⁠https://x.com/sourceryy 𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊YouTube: https://youtu.be/IZHwulZQixQ𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒• 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  Follow Sourcery for the latest updates!https://www.sourcery.vcDisclosurePaid 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 Foroughi, Co-Founder & CEO and Giovanni Ge, CTO at AppLovin(00:52) Gio's first impression of AppLovin(03:38) Joining AppLovin after a 30% stock drop(09:59) How Axon 2 actually got built(20:23) Why AppLovin never needed a sales team(21:59) From gaming ads to e-commerce(24:47) From a napkin drawing to a real product(30:54) The onboarding mistake most companies make(34:37) What "AI-Native" actually means(36:37) Should new engineers still learn to code?(41:41) UGC vs. traditional ads: what's winning?(47:56) Adapting to AI without rebuilding from scratch(54:50) Gio's daily tech stack(1:02:17) AppLovin's path to a trillion-dollar valuation(1:06:19) Recovering from a 90% stock drop(1:09:47) What's next for AppLovin?(1:13:44) What happens when AI takes over?(1:15:48) Adam and Gio's hottest takes(1:19:50) How to actually stay locked in

Sourcery goes inside Neros Technologies’ new 250,000-square-foot Millennium One facility with Co-Founder & CEO Soren Monroe-Anderson.Neros designed the factory with enough space to eventually produce one million drones per year. Today, the company says it is already manufacturing more than 250 drones per day, with engineering, testing, supply chain and production operating under one roof.Soren takes us through Neros’ engineering labs, flight-test operation, drone and ground-station assembly lines, manufacturing software and 100% end-of-line flight testing. We also get a look at the latest Bandit interceptor prototype, which can reach roughly 300 km/h, with Neros targeting closer to 400 km/h for intercepting faster jet-powered Shahed variants.We also visit the new-product introduction line where Neros is preparing Archer AI for mass production, and the massive open portion of the factory reserved for bringing more component manufacturing in-house. Soren explains why mass-producing drones requires designing the product around manufacturing, why 3D printing does not solve the underlying supply-chain problem, and how Neros plans to vertically integrate its way toward million-unit scale.Soren Monroe-Anderson: https://x.com/soren_maMolly O’Shea: https://x.com/MollySOShea Sourcery: ⁠https://x.com/sourceryy 𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊YouTube: https://youtu.be/1qysc9sNACg𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒• 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  Follow Sourcery for the latest updates!https://www.sourcery.vcDisclosurePaid 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 Neros' 250,000 sq. ft. Millennium One Factory(01:21) How Neros pushes its drones to the limit(02:35) Why 3D printing can't solve the drone supply chain problem(03:40) How their drones are built different(06:20) The new 300 km/h Bandit interceptor(09:09) Inside the drone assembly line: producing 250+ drones a day(11:17) South Bay's biggest American flag(11:42) How Neros stress-tests its drones(15:26) Inside the new product introduction line(17:01) What roles is Neros hiring for(19:00) Soren's hot take on defense tech

Soren Monroe-Anderson, Co-Founder & CEO of Neros Technologies, joins Sourcery from the company’s new 250,000-square-foot factory in Torrance following its $250 million Series C at a $2.5 billion post-money valuation.The round, led by Sequoia and American Strategic Technology Fund, comes as Neros expands from its core Archer FPV platform into multiple product lines, including Archer AI and Bandit, its counter-UAS interceptor. Neros is also fresh off a $500 million Army IDIQ and is building toward the capacity to manufacture one million drones annually.Soren explains why modern warfare is increasingly being shaped by low-cost drones, why America fell so far behind China in drone and electronics manufacturing, and what it actually takes to “de-China-fy” a defense supply chain. Neros has pushed critical components including boards, chips, motors and magnets outside China, but Soren argues complete independence is far harder when Chinese suppliers still dominate some raw materials and precursor chemicals.We also discuss Neros’ transition from a single-product company to a multi-product defense manufacturer, the rise of interceptor drones, autonomous capabilities that can operate through communications loss, sovereign manufacturing for U.S. allies, and why Soren wants Neros to become the “Toyota of defense manufacturing.”Soren Monroe-Anderson: https://x.com/soren_maMolly O’Shea: https://x.com/MollySOShea Sourcery: ⁠https://x.com/sourceryy 𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊YouTube: ⁠https://youtu.be/a8sFzL-E948𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒• 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  Follow Sourcery for the latest updates!https://www.sourcery.vcDisclosurePaid 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) Soren Monroe-Anderson, Co-Founder & CEO at Neros Technologies(01:02) Neros just raised $250M at a $2.5B valuation(04:25) Inside the Army's $500M drone contract(08:05) The Interceptor drones taking over the battlefield(12:55) Is it even possible to build a drone without China?(19:55) The biggest BS claims in defense tech right now(22:58) Neros’s growth to over 250 employees(25:29) The Talent bottleneck slowing down American manufacturing(29:43) The biggest myth about re-industrializing America(35:52) What actually happens on a modern battlefield?(37:41) How Starlink is changing drone warfare(40:41) Soren’s learnings from Kelly Johnson