Sourcery

Dylan Fox is the founder and CEO of AssemblyAI, the voice AI infrastructure platform behind AI notetakers, medical scribes, drive through ordering, contact centers and humanoid robots. AssemblyAI went through Y Combinator's first AI batch in 2017 and now serves over 1 million developers with roughly 100 million API calls a day.
We get into the volume numbers, why weekly conversations are up over 800% in three years, the three macro trends pulling voice into everything, why coding agents turned small businesses into API customers, how data mixture drives 75% of model quality, the humanoid robot speaker problem, on device models, and the disclosure question the entire voice agent industry is avoiding.
"It's very easy to optimize for a public open source benchmark. It's very hard to optimize across all these real world applications."
We cover
› 120 million weekly conversations and 4x YouTube's daily voice volume
› Coding agents expanding the TAM by 100x
› Context aware voice models and the McDonald's ordering problem
› Why humanoid robots can't disambiguate speakers
› Whether voice agents should disclose they are AI

Dylan Fox: https://x.com/YouveGotFox
Molly O’Shea: https://x.com/MollySOShea 
Sourcery: ⁠https://x.com/sourceryy

𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/xAF7HkX2DXI

𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• 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) Dylan Fox, Founder & CEO at Assembly AI
(01:06) AssemblyAI's voice traffic just beat YouTube by 4x
(03:33) $100K in GPU credits that started it all
(06:39) Why Voice AI is inflecting right now
(10:11) AssemblyAI's infrastructure-first strategy
(12:41) Handling 120 million weekly calls
(14:49) How AI agents are rewriting Internal Ops at AssemblyAI
(17:05) The Sovereign AI problem nobody's solved for voice
(18:26) Is the Keyboard and Mouse finally dying?
(22:33) The problem Humanoid Robotics hasn't solved yet
(25:14) The real problem behind translating languages
(29:27) Can AI actually talk to animals?
(31:24) The real reason Open-Source benchmarks lie to you
(34:20) Building websites in chat rooms as a kid
(36:48) On-Device AI models are about to change everything
(43:03) The people who shaped Dylan's career

Everyone talks about Nvidia GPUs. Few people talk about the lasers connecting them.
Michael Hurlston is the CEO of Lumentum (NASDAQ: LITE), one of the world's leading suppliers of optical networking and laser technologies powering AI data centers. Before joining Lumentum in 2025, he served as CEO of Synaptics and previously led Finisar, making him one of the few executives to lead three public technology companies.
In this conversation from the RAISE Summit in Paris, Michael explains why AI is forcing a once-in-a-generation shift from copper wiring to fiber optics, why hyperscalers are demanding millions of optical components, and why manufacturing these systems has become one of the biggest bottlenecks in AI infrastructure. He also discusses optical networking inside GPU clusters, the future of "optical scale-up," and how the same laser technology could eventually power internet connectivity in space.
"What you get with fiber optics is the ability to move data faster over longer distances with less heat & less power than you get with electricity."
We cover:
› Why AI data centers are replacing copper with fiber optics
› The manufacturing bottlenecks facing optical infrastructure
› Why hyperscalers need millions of optical components
› The coming transition to "optical scale-up"
› Space lasers and the future of internet connectivity
› AI infrastructure, geopolitics, and U.S. manufacturing
› Michael's journey leading Finisar, Synaptics, and now Lumentum

Michael Hurlston: https://www.linkedin.com/in/michael-hurlston-1b2274/
Molly O’Shea: https://x.com/MollySOShea 
Sourcery: ⁠https://x.com/sourceryy

𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊𝐒
YouTube: https://youtu.be/TCoJtpFd4yM

𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• 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) Michael Hurlston, CEO at Lumentum Holdings
(00:58) Backstage with Tony Kim at RAISE Summit
(01:53) What optical connectivity actually means
(03:31) The $10 trillion irony of the data center build-out
(05:37) Scaling up inside a data center
(08:38) Tripling revenue in 5 quarters
(10:13) From Finisar to Synaptics to Lumentum
(11:51) Why Lumentum went all-in on data centers
(13:10) Why space is the next big market for optical lasers
(14:06) Debunking laser myths
(16:40) Why copper is about to disappear from the server rack
(19:00) The geopolitics of the optical supply chain
(20:16) The advice that shaped Michael's path

Scott Wu, CEO & Co-Founder of Cognition, joins Sourcery in Paris amid the RAISE AI Summit. Cognition is the applied AI lab behind Devin, the autonomous AI software engineer, and Devin Desktop, formerly Windsurf. The company has raised more than $2.5 billion, including a $1 billion round in May 2026 at a $26 billion valuation, while growing annualized revenue from roughly $37 million to $492 million in a year. Devin now writes roughly 95% of Cognition's own code, total code shipped has grown 7x in six months, and customer usage has increased 11x to 12x.
We cover Cognition's acquisition of Windsurf, negotiated over a single weekend after Google's $2.4 billion talent deal, why Scott is keeping Cognition independent, why enterprises won't buy coding agents directly from the model labs, AI's impact on software engineering, the six-month singularity debate, and the origin story of Devin, from fixing a MongoDB error in 2023 to deployments at Goldman Sachs, Mercedes-Benz, Citi, Dell, Santander, NASA, the U.S. Navy, and the U.S. Army.
Recorded July 7, 2026, ahead of Cognition shipping SWE-1.7 on July 8 and acquiring The Interaction Company (maker of Poke) on July 23.

Scott Wu: https://x.com/ScottWu46
Molly O’Shea: https://x.com/MollySOShea
Sourcery: ⁠https://x.com/sourceryy

𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/y1XxtvYll4s

𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• 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) Scott Wu, Co-Founder & CEO at Cognition
(01:00) The Identity crisis of building Devin
(01:42) How Cognition 7X-ed its output in 6 months
(02:55) The Metric every AI company gets wrong
(04:18) Cognition's 12x growth curve
(07:46) The Windsurf acquisition
(13:26) Scaling overnight: Cognition's hardest week
(15:11) The strategy behind the integration of Cognition products
(17:23) Cognition's merger playbook
(20:01) Why the DMV is Cognition's next big target
(22:59) Why Cognition bet against AI centralization
(25:09) Why enterprises refuse to bet on a single AI lab
(28:32) Scott's honest take on Superintelligence
(32:36) Is Silicon Valley losing its mind over the AI gold rush?
(33:26) Devin's origin story
(37:17) The question Scott thinks nobody's asking yet
(39:59) The poker match that almost closed a deal
(41:24) Scott's vision for the next year

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 investments

Tony Kim: https://www.linkedin.com/in/tony-kim-3150053/
Molly O’Shea: https://x.com/MollySOShea 
Sourcery: ⁠https://x.com/sourceryy

𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/zXB-LI7skL8

𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• 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?
(32:41) 2030: the year every frontier technology bet converges
(38:16) Chips were never a Commodity
(41:30) Rack design, materials science, and the physical-world renaissance
(43:30) Inside the architecture of a Robot's mind

David Friedberg takes America's 250th anniversary as a starting point to ask where does the country actually stand? And how do the bottom 50% get left behind?
He argues the wealth gap is widely misunderstood, pointing to roughly $183 trillion in total US household net worth, compared to about $8 trillion held by billionaires and $4 trillion by the bottom half of Americans. His view is that the rich didn't take everything. Instead, the bottom 50% never got to own the productive assets that created the last 50 years of wealth, and.. as Friedberg puts it: "The truth is that the bottom 50% were left behind because of bad tax policy."
From there, Friedberg breaks down the policy decisions he believes created today's affordability crisis, including a tax code that taxes capital below labor, a Social Security system invested in Treasury bonds instead of equities since 1982, the shift away from pensions after ERISA, and government policies that drove housing, healthcare, and education costs higher. He argues those failures have created the conditions driving the rise of socialism in America.
"Americans should feel good about America. We just have to fix the policies."

David Friedberg: https://x.com/friedberg
Molly O’Shea: https://x.com/MollySOShea 
Sourcery: ⁠https://x.com/sourceryy

𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊
YouTube: https://youtu.be/LGkRR4ZNsEA

𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒
• 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.vc

Disclosure
Paid 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) David Friedberg, CEO at Ohalo Genetics & Co-Host at All-In
(01:11) Is California functionally bankrupt?
(02:28) The real reason Americans can't afford anything anymore
(12:13) Why a wealth tax is really government theft
(21:22) Why blaming billionaires is a political strategy, not a solution
(25:33) How Socialism grows like a virus
(30:40) Inside Trump Accounts: a 401(k) for every American
(34:22) Why rational arguments can't compete with viral outrage
(40:56) Jeff Bezos's radical fix for the wealth gap
(45:47) 5 years till Social Security is bankrupt
(46:35) Is AI actually coming for your job?
(50:29) The K-shaped economy
(55:39) Five things America needs to fix to survive
(59:21) David's research process
(1:02:54) "It's about making Americans feel good again"