BIG IDEAS BY NEW ECONOMIES

Inside Mercury's Founding Story | Co-Founder & CEO Immad Akhund

50 min · 10. kesä 2026
jakson Inside Mercury's Founding Story | Co-Founder & CEO Immad Akhund kansikuva

Kuvaus

Subscribe to stay ahead of technology trends. Never miss future editions. Why I built banking for America's startups — then rebuilt it around AI Immad Akhund [https://www.linkedin.com/in/iakhund/], Co-Founder & CEO at Mercury [https://mercury.com/], joins NEW ECONOMIES on banking one in three U.S. startups, raising $200M without needing a dollar of it, and why the legacy banking system was never going to win. In this episode, we discuss Mercury’s origin story — launched in 2019 when the entire industry told founders that nobody would trust a startup with their money — and how a million-dollar deposit arrived within four days of launch from someone Immad had never spoken to. We dig into why incumbent banks were always going to lose this fight, why AI makes their position ten times worse, and how Mercury is now rebuilding its entire product around the idea that your bank should live inside whatever AI tool you already use.We also explore why Immad dropped all one-on-ones after watching Jensen Huang run NVIDIA with 60 direct reports, the Amazon “working backwards” process that mapped out Mercury’s entire AI roadmap from a single doc, and why the fintech companies that planted seeds in 2017 are only now bearing fruit. Watch or listen now on YouTube [https://www.youtube.com/@NEWECONOMIESPOD], Apple Podcasts [https://podcasts.apple.com/us/podcast/big-ideas-by-new-economies/id1829098542], and Spotify [https://open.spotify.com/show/3oVCdw4btnIL1mWGarCT7i] Download the full transcript: Timestamps (0:00 [https://www.youtube.com/watch?v=t3BA7u4qg5k]) Immad Akhund(2:35 [https://www.youtube.com/watch?v=t3BA7u4qg5k&t=155s]) Why Raise $200M?(3:55 [https://www.youtube.com/watch?v=t3BA7u4qg5k&t=235s]) Why FinTech Is Having a Moment(6:02 [https://www.youtube.com/watch?v=t3BA7u4qg5k&t=362s]) How Has AI Impacted Mercury?(10:25 [https://www.youtube.com/watch?v=t3BA7u4qg5k&t=625s]) What Is Defensibility Today?(13:29 [https://www.youtube.com/watch?v=t3BA7u4qg5k&t=809s]) Mercury Finding Product-Market Fit(15:22 [https://www.youtube.com/watch?v=t3BA7u4qg5k&t=922s]) Legacy Banks Never Caught Up(19:22 [https://www.youtube.com/watch?v=t3BA7u4qg5k&t=1162s]) Inside Mercury's Product Team(23:56 [https://www.youtube.com/watch?v=t3BA7u4qg5k&t=1436s]) The Nuclear Power of Talent(26:05 [https://www.youtube.com/watch?v=t3BA7u4qg5k&t=1565s]) Is AI Moving Too Fast?(29:00 [https://www.youtube.com/watch?v=t3BA7u4qg5k&t=1740s]) Keeping Up-to-Date with AI(31:20 [https://www.youtube.com/watch?v=t3BA7u4qg5k&t=1880s]) Ollie Joining Immad as Chief of Staff(33:45 [https://www.youtube.com/watch?v=t3BA7u4qg5k&t=2025s]) Our Latest Product Features(35:45 [https://www.youtube.com/watch?v=t3BA7u4qg5k&t=2145s]) Immad's Interest in Angel Investing(38:20 [https://www.youtube.com/watch?v=t3BA7u4qg5k&t=2300s]) Today's Underappreciated Opportunities(40:36 [https://www.youtube.com/watch?v=t3BA7u4qg5k&t=2436s]) AI Wrappers: Will They Last?(42:34 [https://www.youtube.com/watch?v=t3BA7u4qg5k&t=2554s]) Why Is Consumer So Hard?(44:17 [https://www.youtube.com/watch?v=t3BA7u4qg5k&t=2657s]) Immad's Quick-Fire Round Our notes from this conversation 1. Raise when you don’t need to — and the terms will show it Mercury has been profitable for four years. That single fact changed everything about the Series D. When you’re not desperate, you get to choose your investors, your timing, and your narrative. Immad has watched enough founders raise under duress to know the difference — and deliberately built Mercury to a position where fundraising is a strategic move, not a survival one. The best negotiating leverage is not needing the deal. 2. Legacy banks lost because their incentives were always wrong Deposit banking is a cost center for incumbent banks. Their real product is loans. That single structural fact explains almost everything: why they underinvest in product, why they charge fees instead of building features, why their “engineering” teams are actually IT teams stitching together third-party vendors. They weren’t slow to adapt — they were optimized for something else entirely. Mercury was always competing on a different game board. 3. Trust isn’t a brand asset. It’s an infrastructure layer Within four days of launch, someone Immad had never spoken to wired a million dollars into a Mercury account. That moment signaled something real — but it took seven more years to get customers holding $400M in their accounts. Trust compounds slowly and is almost impossible to manufacture quickly. It’s also, eventually, one of the most durable moats in financial services. The product is the interface. The trust is the product. 4. AI made the incumbent problem ten times worse If legacy banks couldn’t keep up with Mercury’s pace over the last decade, they have no chance now. The window for meaningful product decisions has shrunk from years to months. Launching an MCP integration, shipping an AI-native feature, rebuilding a workflow around an agent — these are things Mercury can do in weeks. A bank operating on a core banking vendor’s release cycle cannot. The faster the world moves, the more permanently the gap widens. 5. The paradigm shifts every six months — that’s the feature, not the bug A year ago, nobody was seriously talking about agents living on your machine and connecting to every service you use. Now it’s Mercury’s central product thesis. Immad isn’t trying to predict which paradigm comes next — he’s building an organisation that can absorb the shift when it arrives. Curiosity and optimism aren’t soft skills. They’re survival mechanisms for operating in an environment where the rules rewrite themselves annually. Links Subscribe to NEW ECONOMIES on YouTube [https://www.youtube.com/@NEWECONOMIESPOD]. Follow Ollie on X (https://x.com/ollieforsyth [https://x.com/ollieforsyth]) Follow Immad on X (https://x.com/immad [https://x.com/immad]) Join Mercury (https://mercury.com [https://mercury.com]) Try Mercury Insights (https://mercury.com/insights [https://mercury.com/insights]) Our NEW MEDIA Community (new-media.co [http://new-media.co]) Related previous episodes If you enjoyed this episode, help sustain our work by clicking ❤️ and 🔄 at the top of this post. Get full access to NEW ECONOMIES at www.neweconomies.co/subscribe [https://www.neweconomies.co/subscribe?utm_medium=podcast&utm_campaign=CTA_4]

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jakson Reid Hoffman: LinkedIn kansikuva

Reid Hoffman: LinkedIn

Subscribe to stay ahead of technology trends. Never miss future editions. Reid Hoffman, co-founder of LinkedIn, joins NEW ECONOMIES to explain why we’re still underutilizing AI, why agent management — not individual contribution — becomes the default mode of work within three years, and why the next decade of company-building rewards taste and judgment over raw skill: once AI can draw, code, and write as well as any specialist, the only thing left to own is the specific, unrepeatable bar for what excellence looks like. We also cover why AI carries a positive perception across Asia, the Middle East, and Latin America while triggering data-center bans and slowdown politics in the US and Europe — and why 91% of non-Chinese AI market cap still sits within 30 miles of Silicon Valley. We get into the founding story behind Manas AI [https://manasai.co/] — Reid’s drug-discovery venture, plus whether Silicon Valley is still the best place to start a company. We close on the lessons Reid has learned from Microsoft CEO Satya Nadella and the technology trends Reid is most excited about next. Watch or listen now on YouTube [https://www.youtube.com/@NEWECONOMIESPOD], Apple Podcasts [https://podcasts.apple.com/us/podcast/big-ideas-by-new-economies/id1829098542], and Spotify [https://open.spotify.com/show/3oVCdw4btnIL1mWGarCT7i] Download the transcript Timestamps (0:00 [https://www.youtube.com/watch?v=nUyAJO5VWSc]) Meet Reid Hoffman (1:36 [https://www.youtube.com/watch?v=nUyAJO5VWSc&t=96s]) Why Most People Are Under Utilizing AI (5:28 [https://www.youtube.com/watch?v=nUyAJO5VWSc&t=328s]) How Should We Be Using AI? (7:17 [https://www.youtube.com/watch?v=nUyAJO5VWSc&t=437s]) Why Agent Managers Are Next (8:47 [https://www.youtube.com/watch?v=nUyAJO5VWSc&t=527s]) Are We Taking AI Seriously Enough? (11:58 [https://www.youtube.com/watch?v=nUyAJO5VWSc&t=718s]) How Is Blitzscaling Different Today? (15:00 [https://www.youtube.com/watch?v=nUyAJO5VWSc&t=900s]) Is Silicon Valley Still The Best Region? (16:27 [https://www.youtube.com/watch?v=nUyAJO5VWSc&t=987s]) Should Startups Partner with AI Models? (21:37 [https://www.youtube.com/watch?v=nUyAJO5VWSc&t=1297s]) Personalized AI & Taste (24:28 [https://www.youtube.com/watch?v=nUyAJO5VWSc&t=1468s]) Is Distribution The New Moat for Startups? (26:19 [https://www.youtube.com/watch?v=nUyAJO5VWSc&t=1579s]) Does AI Have a Negative PR Problem? (28:48 [https://www.youtube.com/watch?v=nUyAJO5VWSc&t=1728s]) What Would Reid Coach Governments? (33:20 [https://www.youtube.com/watch?v=nUyAJO5VWSc&t=2000s]) It’s Not Just Anthropic or OpenAI (36:36 [https://www.youtube.com/watch?v=nUyAJO5VWSc&t=2196s]) The IPO Gold Rush (38:32 [https://www.youtube.com/watch?v=nUyAJO5VWSc&t=2312s]) Sam vs Dario Characteristics (42:30 [https://www.youtube.com/watch?v=nUyAJO5VWSc&t=2550s]) Lessons from Satya Nadella (47:30 [https://www.youtube.com/watch?v=nUyAJO5VWSc&t=2850s]) Ollie Joins As Reid’s Chief of Staff (49:39 [https://www.youtube.com/watch?v=nUyAJO5VWSc&t=2979s]) Reid’s Trends (55:27 [https://www.youtube.com/watch?v=nUyAJO5VWSc&t=3327s]) Fire Round Our notes from this conversation * The next career move isn’t a skill — it’s a headcount. Individual contributors are giving way to agent managers, each overseeing anywhere from a handful to tens of thousands of agents. Reid’s timeline: broad-based adoption within three years, starting with coding and spreading into every “digital closing loop.” * Non-US, non-Europe just inherited the industrial revolution’s rematch. AI carries a negative PR perception in the US and Europe (job-loss anxiety, data-center bans) and a positive one everywhere else — Asia, the Middle East, Latin America, Africa. Reid calls it the reverse revenge of the industrial revolution: the regions that missed the first wave may lead the cognitive one. * Distribution didn’t die — it became the AI amplifier. Moats aren’t dead, but they’ve changed shape. Existing companies with distribution aren’t finished; they’re only finished if they refuse to plug AI into what they already own. Refuse, and “the dinosaur decay has started.” * Wrapper businesses are living on borrowed time. If a competitor can point Claude Code or Codex at your product and rebuild it for the token cost, you were never defensible. The businesses that survive have a theory of the game: network effects, enterprise integration, or data loops the model can’t just absorb as a feature. * Hand skill is depreciating. Taste is the new scarce resource. AI coordination doesn’t need better hand-eye coordination to draw well — so that skill’s value drops. What rises: judgment about what excellence actually looks like, in code, writing, and product. Reid expects taste and context-awareness to matter for decades, not quarters. * The market isn’t consolidating to three companies — it’s expanding to ten or fifteen. Reid’s eight-year-old antitrust argument held: from five-to-seven heading toward ten-to-fifteen frontier and adjacent players, not three. That’s good for entrepreneurs — more potential acquirers, more room to build something valuable without having to out-build OpenAI or Anthropic. * Blitzscaling didn’t disappear — it moved from headcount to compute. The old version was maximum organizational scale under uncertainty. The new version: build something in two weeks, throw it away, rebuild — at higher velocity and higher risk — while a much smaller human team manages a much larger agent workforce. * Trust gets built by value, not by messaging. Reid’s answer to AI skepticism isn’t a better narrative — it’s a free medical assistant, a lease-reading legal agent, a tutor on every phone. “It isn’t by a story of words... how you get trust is by seeing value.” Links Follow Ollie on X - https://x.com/ollieforsyth [https://x.com/ollieforsyth] Follow Reid on X - https://x.com/reidhoffman [https://x.com/reidhoffman] Subscribe to Reid’s Podcast, Masters of Scale - https://mastersofscale.com/ [https://mastersofscale.com/] Discover Reid’s other projects: https://beacons.ai/reidhoffman [https://beacons.ai/reidhoffman] Reid’s Books - Blitzscaling [https://www.blitzscaling.com/] & Superagency [https://www.superagency.ai/] Related previous episodes If you enjoyed this episode, help sustain our work by clicking ❤️ and 🔄 at the top of this post. Get full access to NEW ECONOMIES at www.neweconomies.co/subscribe [https://www.neweconomies.co/subscribe?utm_medium=podcast&utm_campaign=CTA_4]

Eilen1 h 0 min
jakson Mark Manson kansikuva

Mark Manson

Subscribe to stay ahead of technology trends. Never miss future editions. Mark Manson [https://youtu.be/lU8t3QL9dN0?si=N5rEG2SMqCXW-SU8] is someone you've probably heard of before. He's the author of The Subtle Art of Not Giving a F*ck, which has sold more than 20 million copies worldwide. In this episode, he shares some incredible advice on life, what it takes to become a successful creator, why creators should think more like founders, and what he's building next - including his self-help app, Purpose [https://purpose.app/]. Throughout the episode, we also explore why he believes AI content and human content are splitting into two permanent tracks, why non-fiction book sales are down 20–30% and what an “AI-proof” book would actually need to look like, and why Mark thinks the next decade of media rewards trust and credibility over cleverness — because the moment ChatGPT can write as well as he can, the only thing left to own is the specific, unrepeatable mix of experience that makes his voice his. If that’s not enough, we go deep on the founding story behind Purpose [https://purpose.app/], his new AI life-advice app built to do what ChatGPT can’t — actually challenge you instead of just agreeing with you — plus why traditional publishing has banned AI outright while his own two-person research team now outproduces the four-person team he had two years ago, and much more. Timestamps (0:00 [https://www.youtube.com/watch?v=lU8t3QL9dN0]) Meet Mark Manson (2:20 [https://www.youtube.com/watch?v=lU8t3QL9dN0&t=140s]) The Subtle Art of Not Giving a F*ck(9:00 [https://www.youtube.com/watch?v=lU8t3QL9dN0&t=540s]) Why Creators Should Think Like Founders (17:17 [https://www.youtube.com/watch?v=lU8t3QL9dN0&t=1037s]) NEW MEDIA: Will AI Content Survive? (19:30 [https://www.youtube.com/watch?v=lU8t3QL9dN0&t=1170s]) How Mark Manson Uses AI (26:55 [https://www.youtube.com/watch?v=lU8t3QL9dN0&t=1615s]) How To Write A Non-Fiction Book Today (32:34 [https://www.youtube.com/watch?v=lU8t3QL9dN0&t=1954s]) How To Master Your Edge Case (35:13 [https://www.youtube.com/watch?v=lU8t3QL9dN0&t=2113s]) Has The Subtle Art of Not Giving a F*ck Changed? (37:13 [https://www.youtube.com/watch?v=lU8t3QL9dN0&t=2233s]) The Subtle Art of Not Giving a F*ck Anymore(39:46 [https://www.youtube.com/watch?v=lU8t3QL9dN0&t=2386s]) Mark’s App - Purpose Watch or listen now on YouTube [https://www.youtube.com/@NEWECONOMIESPOD], Apple Podcasts [https://podcasts.apple.com/us/podcast/big-ideas-by-new-economies/id1829098542], and Spotify [https://open.spotify.com/show/3oVCdw4btnIL1mWGarCT7i] Download the transcript Our notes from this conversation 1. AI self-help is coming for most of human self-help.Therapy, coaching, and advice are all just language processed through experience — exactly what LLMs are built for. Mark’s bet with his new app, Purpose [https://purpose.app/], is that AI will do it better and cheaper than most coaches ever could. 2. Non-fiction is on a countdown.Sales are down 20–30% over two years — not to podcasts, but to AI. Readers now get a chapter in, then interrogate the idea in ChatGPT instead. Survival means novel frameworks AI couldn’t have generated on demand. 3. Media is splitting into AI content and human content.AI is closing in on pure entertainment and education — it can already find the platonic ideal of what makes someone laugh or cry. What it can’t replicate is the parasocial layer: trust, belonging, a specific person’s judgment. 4. The moat isn’t the idea — it’s the audience you own.Mark regrets chasing traditional publisher/Audible/Netflix deals instead of owning distribution directly. Mel Robbins did it right: a viral book converted deliberately into live events, podcasts, and an owned brand. 5. Everyone needs a 99.9th-percentile intersection.As AI closes the gap on any single skill, defensibility shifts to combinations — three or four things that overlap in one person and can’t be cleanly copied. Not one moat, a stack of them. 6. Trust-dependent verticals resist AI longest.Relationships and money are getting hotter, not colder, in the AI era — because people don’t want the same answer ChatGPT gives everyone else. Credibility itself is becoming the scarce resource. 7. AI compounds — and legacy media is opting out.Mark’s research team shrank from four to two while output and quality went up. Meanwhile traditional publishing often bans AI outright, ceding a gap that compounds every quarter against competitors who didn’t wait. 8. Good advice has a shelf life.Mark’s own “give a f*ck about less” advice was right for an overwhelmed era — but it also fed the tribalism defining today’s polarization. Advice isn’t universal; it’s tied to the context that produced it. Links Follow Ollie on X here [https://x.com/ollieforsyth]. Follow Mark on X here [https://x.com/Markmanson]. Follow Mark on Instagram here [https://www.instagram.com/markmanson/]. Download Mark’s new app Purpose here [https://www.instagram.com/purpose.app/]. Interested in NEW MEDIA? Visit our latest project on the most promising new media creators here [https://new-media.co/]. Related previous episodes If you enjoyed this episode, help sustain our work by clicking ❤️ and 🔄 at the top of this post. Get full access to NEW ECONOMIES at www.neweconomies.co/subscribe [https://www.neweconomies.co/subscribe?utm_medium=podcast&utm_campaign=CTA_4]

16. heinä 202644 min
jakson The Eventbrite Story | Julia & Kevin Hartz kansikuva

The Eventbrite Story | Julia & Kevin Hartz

Subscribe to stay ahead of technology trends. Never miss future editions. How Eventbrite survived the business apocalypse — and why the internet made real life more valuable than ever Husband and Wife duo Kevin and Julia Hartz, co-founders at Eventbrite, join us on the NEW ECONOMIES podcast show to share how they built one of the world’s largest event marketplaces, navigating a leadership transition after a decade as co-founders, surviving COVID when their entire industry (and revenue) shut down overnight, and why the future belongs to companies bringing people together. About Eventbrite: Eventbrite is one of the world's largest event technology platforms, enabling anyone to create, promote, and sell tickets for live experiences. Since its founding in 2006, the company has powered millions of events across more than 180 countries, helping creators — from independent organizers to major venues — connect with audiences at scale. In our latest podcast episode, Kevin and Julia share Eventbrite's origin story — from a married founding team working out of a windowless office and surviving on cup noodles to building a global marketplace that transformed how people create and discover live experiences. They explain why curiosity became their greatest competitive advantage, why they ignored conventional startup advice by serving every event category from day one, and why complementary founders consistently outperform identical ones. If that’s not enough, we also unpack the brutal reality of leading a public company through COVID after revenue turned negative almost overnight, why acting before everyone agrees is often a founder’s greatest advantage, what selling Eventbrite to Bending Spoons (who went public this week) taught them about long-term stewardship, and why, despite every wave of technology, they believe the most valuable human experiences will always happen in real life. Timestamps (0:00 [https://www.youtube.com/watch?v=-EUW-KsF01U]) Kevin & Julia Hartz(1:45 [https://www.youtube.com/watch?v=-EUW-KsF01U&t=105s]) A Blossoming Relationship(3:40 [https://www.youtube.com/watch?v=-EUW-KsF01U&t=220s]) The Aha Moment for Eventbrite(8:15 [https://www.youtube.com/watch?v=-EUW-KsF01U&t=495s]) Ideas Outside Eventbrite(9:24 [https://www.youtube.com/watch?v=-EUW-KsF01U&t=564s]) Eventbrite’s First Year(12:50 [https://www.youtube.com/watch?v=-EUW-KsF01U&t=770s]) The Product Market Fit Moment(14:58 [https://www.youtube.com/watch?v=-EUW-KsF01U&t=898s]) Building a Self-Serving Product(17:25 [https://www.youtube.com/watch?v=-EUW-KsF01U&t=1045s]) 2016: Julia Takes Over as CEO(23:00 [https://www.youtube.com/watch?v=-EUW-KsF01U&t=1380s]) The Brilliance of Eventbrite vs. Competitors(30:22 [https://www.youtube.com/watch?v=-EUW-KsF01U&t=1822s]) The COVID Moment That Changed Us(38:22 [https://www.youtube.com/watch?v=-EUW-KsF01U&t=2302s]) IRL Is Back(41:34 [https://www.youtube.com/watch?v=-EUW-KsF01U&t=2494s]) Bending Spoon Acquires Eventbrite(45:13 [https://www.youtube.com/watch?v=-EUW-KsF01U&t=2713s]) A* Star Raises $450M(47:10 [https://www.youtube.com/watch?v=-EUW-KsF01U&t=2830s]) Young Founders to Watch(48:25 [https://www.youtube.com/watch?v=-EUW-KsF01U&t=2905s]) What’s Next? Watch or listen now on YouTube [https://www.youtube.com/@NEWECONOMIESPOD], Apple Podcasts [https://podcasts.apple.com/us/podcast/big-ideas-by-new-economies/id1829098542], and Spotify [https://open.spotify.com/show/3oVCdw4btnIL1mWGarCT7i] Download the transcript Our notes from this conversation * Eventbrite wasn’t built to sell tickets — it was built to make gathering possible. Kevin and Julia saw ticketing as an overlooked payments problem. If anyone could create an event as easily as sending an email, millions of communities, creators, and organizers could exist that otherwise never would. * The best co-founding teams divide by strengths, not titles. From day one, they focused on complementary abilities instead of overlapping responsibilities. Rather than competing for the same decisions, each founder owned the areas where they naturally created the most leverage. * Curiosity became the company’s competitive advantage. The early years weren’t spent making assumptions — they attended events, watched customers, worked the door themselves, and continuously simplified the product based on real behavior instead of internal opinions. * Product-market fit expanded by following customers, not chasing categories. Instead of focusing on one niche, Eventbrite launched broadly and observed where adoption naturally emerged. Every new customer segment revealed the next opportunity to build for. * Crisis rewards speed more than certainty. When COVID shut down live events almost overnight, the team assumed the worst immediately. They raised capital, reshaped the roadmap, focused on customer survival, and acted long before the situation became obvious to everyone else. * The internet didn’t replace real life — it made it more valuable. Every major technology wave has changed how people connect, but none has replaced the human desire to gather. Digital platforms increasingly become discovery engines for experiences that ultimately happen offline. * Building companies isn’t a chapter — it’s an identity. Even after taking Eventbrite public, leading it through COVID, and eventually selling it, Kevin and Julia continue building new companies and backing founders. For them, entrepreneurship isn’t a milestone — it’s how they approach the world. Links Subscribe to NEW ECONOMIES on YouTube [https://www.youtube.com/@NEWECONOMIESPOD].Follow Ollie on X: https://x.com/ollieforsyth [https://x.com/ollieforsyth].Follow Julia on X: https://x.com/juliahartz [https://x.com/juliahartz].Follow Kevin on X: https://x.com/kevinhartz [https://x.com/kevinhartz]. Visit A* Capital: https://www.a-star.co [https://www.a-star.co/]. Related previous episodes If you enjoyed this episode, help sustain our work by clicking ❤️ and 🔄 at the top of this post. Get full access to NEW ECONOMIES at www.neweconomies.co/subscribe [https://www.neweconomies.co/subscribe?utm_medium=podcast&utm_campaign=CTA_4]

5. heinä 202649 min
jakson How We Access The Best Companies kansikuva

How We Access The Best Companies

Subscribe to stay ahead of technology trends. Never miss future editions. Ben Miller [https://www.linkedin.com/in/benjamin-miller-b5b79a4/], CEO and Co-Founder at Fundrise [https://fundrise.com/], joins NEW ECONOMIES to explore the future of investing in an AI-driven world. From democratizing private markets to backing the next generation of technology companies, Ben explains why software is entering a new era of disruption, and how AI could reshape everything from work and housing to healthcare and human longevity. About Fundrise: Fundrise is the largest direct-to-consumer alternative asset manager with more than 385,000 active investors, 2.1 million platform users, and $3.3 billion in assets across real estate, venture, and private credit. In this episode, we explore why Fundrise expanded beyond real estate into venture investing, how Ben thinks about building with conviction instead of institutional consensus, and why some of the best investment decisions come from waiting rather than deploying capital on schedule. We also go deep on how AI is reshaping software, venture, and the broader economy — from why application-layer businesses may become harder to sustain, to why capital is increasingly concentrating around models, compute, and infrastructure. If that’s not enough, we also discuss why venture is far more relationship-driven than most people realize, why investors often overstate their impact relative to founders, and why Ben believes the next great opportunities won’t come from another consumer app — but from applying AI to the physical world through biology, materials, energy, and longevity. Watch or listen now on YouTube [https://www.youtube.com/@NEWECONOMIESPOD], Apple Podcasts [https://podcasts.apple.com/us/podcast/big-ideas-by-new-economies/id1829098542], and Spotify [https://open.spotify.com/show/3oVCdw4btnIL1mWGarCT7i] Download the transcript Timestamps (0:00 [https://www.youtube.com/watch?v=7W-P0lS_hCQ]) Ben Miller (1:42 [https://www.youtube.com/watch?v=7W-P0lS_hCQ&t=102s]) Democratizing Access To Private Markets (9:50 [https://www.youtube.com/watch?v=7W-P0lS_hCQ&t=590s]) Venture vs. Real Estate (12:48 [https://www.youtube.com/watch?v=7W-P0lS_hCQ&t=768s]) Getting Access To Companies (15:07 [https://www.youtube.com/watch?v=7W-P0lS_hCQ&t=907s]) Venture Is Changing (20:10 [https://www.youtube.com/watch?v=7W-P0lS_hCQ&t=1210s]) What Happens Next? (22:10 [https://www.youtube.com/watch?v=7W-P0lS_hCQ&t=1330s]) Companies Going Public (28:16 [https://www.youtube.com/watch?v=7W-P0lS_hCQ&t=1696s]) Where Are The Next Opportunities? (31:22 [https://www.youtube.com/watch?v=7W-P0lS_hCQ&t=1882s]) The Impact of Longevity (33:30 [https://www.youtube.com/watch?v=7W-P0lS_hCQ&t=2010s]) Tough Categories Right Now (35:15 [https://www.youtube.com/watch?v=7W-P0lS_hCQ&t=2115s]) Thoughts On Vibe Coding Tools (36:12 [https://www.youtube.com/watch?v=7W-P0lS_hCQ&t=2172s]) Ollie Joining As Chief of Staff (37:35 [https://www.youtube.com/watch?v=7W-P0lS_hCQ&t=2255s]) How Ben Uses AI (40:53 [https://www.youtube.com/watch?v=7W-P0lS_hCQ&t=2453s]) The Next Big Act For Fundrise (44:22 [https://www.youtube.com/watch?v=7W-P0lS_hCQ&t=2662s]) What Categories Would Ben Build In? (46:13 [https://www.youtube.com/watch?v=7W-P0lS_hCQ&t=2773s]) Rapid Fire Our notes from this conversation * Fundrise was built as a reaction to the financial system. The idea didn’t start with real estate — it started with distrust. After living through the 2008 financial crisis firsthand, Ben’s view became simple: people should be able to own real assets directly instead of relying entirely on financial institutions. * Private markets became consumer products. Fundrise saw the opportunity earlier: It took institutional investing models — private equity, real estate funds, venture — and rebuilt them for individuals. The thesis wasn’t to invent a new asset class. It was to open access to one that already existed. * Great investing often means not doing what you said you would. The team raised venture capital to invest in tech — and then barely invested for a year. Instead of deploying because markets expected it, they waited. Flexibility became an advantage over institutional pressure. * Access in venture is more random than people admit. From the outside, venture looks like a system. Inside, it often looks like relationships, timing, and proximity. Many of the best investments happen through unexpected connections rather than structured processes. * Founders create outcomes. Investors mostly provide fuel. The venture industry talks heavily about value-add. Ben’s view: teams build companies. Capital matters. Advice occasionally matters. But execution compounds more than introductions. * AI is making software easier — and company building harder. As models become more capable, application layers become vulnerable. Product roadmaps compress. Builders increasingly compete not just with startups, but with the platforms underneath them. * Capital is concentrating faster than people expect. AI isn’t only changing software — it’s redirecting capital. Trillions are flowing into models, compute, and infrastructure, creating second-order effects across housing, credit, real estate, and the broader economy. * The next breakthrough isn’t digital — it’s physical. The most exciting opportunities may not be chat interfaces or copilots. They may come from applying AI to biology, materials, medicine, energy, and the physical world itself. * The future belongs to people willing to suffer for the hard decisions. Ben’s framework for leadership is simple: the best decisions are often the ones that are personally painful. Building means choosing uncertainty, absorbing pressure, and taking responsibility before outcomes are obvious. * Learning remains the ultimate competitive advantage. The next company, sector, or wave rarely looks obvious in advance. Curiosity, experimentation, and being willing to look outside your category matter more than defending a fixed identity. Links Subscribe to NEW ECONOMIES on YouTube [https://www.youtube.com/@NEWECONOMIESPOD] Follow Ollie on X (https://x.com/ollieforsyth [https://x.com/ollieforsyth]) Follow Ben on X (https://x.com/BenMillerise [https://x.com/BenMillerise]) Related previous episodes If you enjoyed this episode, help sustain our work by clicking ❤️ and 🔄 at the top of this post. Get full access to NEW ECONOMIES at www.neweconomies.co/subscribe [https://www.neweconomies.co/subscribe?utm_medium=podcast&utm_campaign=CTA_4]

28. kesä 202650 min
jakson Why We Sold To Grammarly | Rahul Vohra kansikuva

Why We Sold To Grammarly | Rahul Vohra

Subscribe to stay ahead of technology trends. Never miss future editions. Why email never died — and why Superhuman is betting on voice, AI, and the future of work Rahul Vohra [https://www.linkedin.com/in/rahulvohra/], founder of Superhuman [https://superhuman.com/] and now CEO of Superhuman Mail [https://superhuman.com/products/mail] inside the newly formed Superhuman group, joins NEW ECONOMIES on why email remains the most important layer of modern work, how AI is transforming productivity beyond the inbox, and why distribution and focus matter more than technical moats in the age of infinite software. In our latest podcast episode with Rahul, we unpack Superhuman’s eleven-year journey — from the contrarian decision to reinvent email when everyone said it was dead, to building one of Silicon Valley’s most iconic productivity brands and eventually becoming the foundation for a much bigger ambition: the AI-native productivity suite. We also explore why voice could become the default interface for knowledge work, how AI assistants are becoming a new growth channel for software companies, and why Rahul believes the next generation of winners won’t be defined by who writes the best code — but by who owns distribution, executes relentlessly, and knows what not to build. If that’s not enough, we go deep on the acquisition story that led Grammarly to rename the entire company around Superhuman, why email continues to outperform every prediction of its demise, and what building the productivity bundle of the future actually looks like. Watch or listen now on YouTube [https://www.youtube.com/@NEWECONOMIESPOD], Apple Podcasts [https://podcasts.apple.com/us/podcast/big-ideas-by-new-economies/id1829098542], and Spotify [https://open.spotify.com/show/3oVCdw4btnIL1mWGarCT7i] Download the transcript Timestamps (0:00 [https://www.youtube.com/watch?v=W8dy67rGzo8]) Rahul Vohra(1:44 [https://www.youtube.com/watch?v=W8dy67rGzo8&t=104s]) Why Go After Disrupting Email(4:22 [https://www.youtube.com/watch?v=W8dy67rGzo8&t=262s]) Will Email Still Stay Relevant?(9:20 [https://www.youtube.com/watch?v=W8dy67rGzo8&t=560s]) The Impact of Voice(14:20 [https://www.youtube.com/watch?v=W8dy67rGzo8&t=860s]) PLG: Sent by Superhuman(18:57 [https://www.youtube.com/watch?v=W8dy67rGzo8&t=1137s]) Why Moats Are Becoming Increasingly Hard to Build(24:30 [https://www.youtube.com/watch?v=W8dy67rGzo8&t=1470s]) How Does Superhuman Group Stay Focused?(28:55 [https://www.youtube.com/watch?v=W8dy67rGzo8&t=1735s]) Inside Superhuman(33:20 [https://www.youtube.com/watch?v=W8dy67rGzo8&t=2000s]) Missing Products from the Bundle(36:52 [https://www.youtube.com/watch?v=W8dy67rGzo8&t=2212s]) The Acquisition(45:45 [https://www.youtube.com/watch?v=W8dy67rGzo8&t=2745s]) Ollie Joining as Chief of Staff(47:45 [https://www.youtube.com/watch?v=W8dy67rGzo8&t=2865s]) Angel Investing Our notes from this conversation * Email is still the most important protocol at work. Every few years someone declares email dead — and every few years they’re wrong. Email remains identity, authentication, and the default layer for company communication. The interface will change. The infrastructure probably won’t. * Voice is becoming the new keyboard. The breakthrough isn’t transcription — it’s intent. Instead of writing emails, scheduling meetings, and prompting AI manually, people will increasingly speak outcomes and let software execute. Work becomes orchestration. * The biggest moats aren’t technical anymore. Software is becoming cheaper and easier to build. Features get copied faster than ever. Distribution, trust, brand, and knowing exactly what not to build are becoming the new defensibility. * Distribution compounds. Products alone don’t. The winners won’t necessarily be the teams with the smartest models — they’ll be the teams that own attention, create habits, and get embedded where users already work. Distribution has become product. * AI changes interfaces before it changes infrastructure. Voice, agents, and AI-native workflows will reshape how we interact with email, docs, and software — but the systems underneath often survive much longer than people expect. * Focus becomes more valuable as building gets easier. When the cost of creation trends toward zero, restraint becomes leverage. The companies that win won’t build the most — they’ll build the few things that matter. * The next growth channel is AI itself. Users are no longer only discovering products through search, social, or sales. Increasingly, AI assistants recommend, connect, and even activate software on behalf of users. Tools such as The Prompting Company [https://promptingcompany.com/] help companies get cited in AI models for example. * The future isn’t humans or AI — it’s humans with AI. The products that endure won’t remove people from work. They’ll amplify judgment, creativity, and decision-making while automation handles the repetitive layers underneath. Links Subscribe to NEW ECONOMIES on YouTube here [https://www.youtube.com/@NEWECONOMIESPOD]. Follow Ollie on X (https://x.com/ollieforsyth [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqa1NEYnBoMjJCTzl2SkgwWXpJX1Z6cXU4SVVfQXxBQ3Jtc0trVW9adnpoY0hYMmxGb1YzRG9DMlFKWE1FTlljRDRWMG1lZ0hLd1J1cG5MRXRTNVA0bHVvZUFZTHF3OGJpUTBvb0RLNl8xamZsVjYxYl8ta19PQ0JsRi1CaFpxTjBadGFmWlhzdlFLSjhXNUI1NmhMSQ&q=https%3A%2F%2Fx.com%2Follieforsyth&v=W8dy67rGzo8]) Follow Rahul on X (https://x.com/rahulvohra [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqazJ4bXFaT3F5YXJDOE9idFlfbElaZjB5ajBnZ3xBQ3Jtc0tudUVxRjJPUzVLWWxrMEJXMEJNTjE5M3Jhb2wtRUNRc3lCYXdKOUhfY1hpZHlJc0VpY3VsdjJlRTdwZmlia1lHcUNQb1VINGJ4ZGs5Y3FWLWpiYXczN3ZkUFdnZkdEdHlMMEFZU0Jzd1NYTVpkYjBrTQ&q=https%3A%2F%2Fx.com%2Frahulvohra&v=W8dy67rGzo8]) Sign up to Superhuman (https://superhuman.com [https://superhuman.com/]) Related previous episodes If you enjoyed this episode, help sustain our work by clicking ❤️ and 🔄 at the top of this post. Get full access to NEW ECONOMIES at www.neweconomies.co/subscribe [https://www.neweconomies.co/subscribe?utm_medium=podcast&utm_campaign=CTA_4]

21. kesä 20261 h 1 min