As part of our summer replay series, we're revisiting one of our most-discussed conversations from the past year.David Sacks joins Marc Andreessen, Ben Horowitz, and Erik Torenberg to discuss the intersection of AI, crypto, regulation, and American competitiveness.The conversation explores the Trump administration's approach to AI and crypto policy, open source AI, export controls, energy and infrastructure, the global race with China, and the role regulation plays in shaping innovation. They also discuss stablecoins, the future of AI development, permissionless innovation, and why they believe America's long-term advantage depends on enabling builders rather than slowing them down.Along the way, Sacks shares his perspective on AI safety, decentralized technology, federal versus state regulation, and what it will take for the U.S. to remain the global leader in emerging technologies.