Katherine Boyle and Erin Price-Wright are General Partners at Andreessen Horowitz (a16z), leading the firm's American Dynamism practice. This episode explores how their team invests in companies tackling national imperatives—ranging from defense and manufacturing to energy and critical infrastructure. Katherine shares how American Dynamism emerged from portfolio patterns at a16z, while Erin describes how her background at Palantir informs her investment lens.
Together, they unpack why the U.S. must reindustrialize, how software is now eating the physical world, and what they look for in high-capex startups. This conversation also highlights the evolving U.S.-China industrial competition, the role of government in innovation, and why talent is moving from Big Tech into “hard tech.”
In this episode, we cover:
- [02:30] An overview of a16z
- [04:59] Its thesis shift from defense to energy and industry
- [07:49] How AI is transforming heavy industries
- [8:24] Tech stack for US vs. China
- [12:23] Role of government versus private capital
- [16:14] Why software is still the core of industrial innovation
- [16:55] Base Power as a software-led grid infrastructure play
- [20:42] When vertical AI-native startups beat incumbents
- [21:48] How a16z helps startups navigate Washington
- [27:51] Why energy problems require system-level solutions
- [31:57] Moats in energy and manufacturing
- [37:51] a16z’s American Dynamism 50 list
- [40:16] Battery supply chains and the China dependency
- [46:44] Why capital stack strategy matters for hard tech founders
- [48:52] Looking 10 years ahead
Episode recorded on May 21, 2025 (Published on July 29, 2025)
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*Editing and post-production work for this episode was provided by The Podcast Consultant
