Joe Lonsdale: American Optimist

Nima Ghamsari was a top talent at Palantir before founding Blend Labs to digitize the mortgage process. Blend became one of Silicon Valley’s hottest SaaS companies until the mortgage industry came to a screeching halt in recent years. Now, the AI wave has Blend poised for a comeback. What will the future of home buying look like? Why is Nima all-in on AI agents? And how can AI supercharge established tech companies with the will and talent to rethink things from scratch?
In this episode, we’re joined by the Founder and Head of Blend, Nima Ghamsari. We begin with his parents immigrating from Iran to the U.S. in the 1980s and how Nima made his way to Stanford. He quickly made a name for himself as a talented online poker player — winning millions of dollars and famously showing up to Palantir as a new hire in an Aston Martin. Learn about the lessons Nima brought with him from Palantir into building Blend, and how he took on the ambitious task of bringing the outdated, cumbersome mortgage process online. Next, we dive into Blend’s meteoric rise and fall as the U.S. mortgage industry hit the skids in recent years. Now, Nima believes AI has the company poised for a comeback. Learn about its AI agent, “Autopilot,” and why Blend has the most deployed agents in financial services right now. On this podcast, we talk a lot about new AI-first companies; Blend is a great example of a talented SaaS company embracing AI for a powerful Act II.
00:00 Episode intro
01:45 Millions playing poker to joining Palantir
06:00 Most important lessons from Palantir
07:30 Founding Blend / understanding the mortgage industry
11:25 How to win over banks and risk-averse customers
15:50 Blend’s meteoric rise and fall
19:00 Going all-in on AI agents / Blend’s Act II
22:55 Is Blend undervalued today?
26:50 Impact of AI on internal operations / increased productivity
32:00 The future of SaaS
36:20 The optimistic case for AI

Disclosure: Joe Lonsdale is a principal of Eight Partners VC, LLC (“8VC”), a registered investment adviser whose funds currently hold shares of Blend Labs, Inc. (“Blend”). Joe also has a longstanding personal relationship with Blend and its CEO, having served as an early investor, adviser, and board member. The statements in this episode reflect Joe’s personal views as of the date of recording and may contain forward-looking statements that are subject to risks, uncertainties, and assumptions. Nothing in this episode constitutes investment, legal, tax, or financial advice, nor should any statement be understood as a recommendation to buy, sell, or hold any security or invest in any 8VC-managed vehicle. Listeners should conduct their own research and consult their own professional advisers before making any investment decisions. American Optimist is Joe’s personal podcast; the views expressed are his own and do not necessarily represent the views of 8VC or its affiliates.


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In 2010, the U.S. and China were at parity in electricity generation. Today, China boasts triple our capacity. We’re at the vanguard of the AI revolution but falling dangerously behind in energy production. Scott Nolan has identified a key bottleneck in nuclear energy and is at the forefront of the effort to scale nuclear power and help America achieve energy abundance.
While studying at Cornell University, Scott landed an internship at Boeing. He quickly jumped to SpaceX as an early employee and worked on the Falcon propulsion systems and Dragon capsule. He later became Partner at Founders Fund, where he focuses on energy, infrastructure, biotech, and other key sectors. In 2024, he founded General Matter to rebuild America’s nuclear enrichment capacity.
We begin the episode with Scott’s entrepreneurial journey, the contrast between Boeing and SpaceX, and how to build a culture that prioritizes speed and performance in a highly regulated sector. Next, Scott explains the origins of General Matter and breaks down the science behind creating nuclear fuel. In the 1980s, the U.S. produced 80% of global enriched uranium; today that number is zero. Learn how post-Cold War disarmament destroyed our capacity to the point where we are now reliant on Russia, among others, for enrichment. Scott explains how China surged ahead in electricity generation, and what it will take to jumpstart America’s nuclear renaissance. Finally, we cover exciting new possibilities, including nuclear power in space and on the moon, and what a future of cheap, abundant energy could look like.
00:00 Episode intro
01:20 Boeing vs SpaceX / lessons on speed & performance
05:20 What made SpaceX unique?
09:05 General Matter / how to make nuclear fuel
16:45 Disarmament and relying on Russia
19:50 The AI energy crisis / falling behind China
24:30 Founders Fund and energy investing
27:15 How to scale nuclear energy
32:00 How to fund the nuclear buildout
36:15 Nuclear in space & new possibilities


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Is America’s national wealth built on slavery? Are disparities between races today attributable to past injustices? Will we ever overcome race politics? These difficult questions are at the heart of Coleman Hughes’ new course at the University of Austin titled “The Legacy of Slavery.”
Coleman is one of the clearest voices confronting race-essentialism in America today. He’s the author of The End of Race Politics: Arguments for a Colorblind America, host of the Conversations with Coleman podcast, and a visiting professor at the University of Austin.
In this episode, Coleman takes us behind the scenes of his new UATX course, where he examines the two opposing philosophies that emerged from the civil rights era: Dr. King’s colorblind vision and Derrick Bell’s Critical Race Theory. He breaks these down into two camps -- minimalist and maximalist -- and explains how he equips students to weigh the merits of each side. He contrasts the UATX approach, where Thomas Sowell versus Ta-Nehisi Coates takes center stage, to his time at Columbia University and its obsession with racial grievances. Then we dive into a few legacy debates: Is America’s wealth due to slavery? Is the collapse of the two-parent black family a result of past injustice? Finally, Coleman lays out three steps toward an optimistic vision for race in America: get race out of the law (end affirmative action), stop programming children to see race, and foster a growing economy with opportunity for all.
00:00 Episode intro
01:40 Teaching the Legacy of Slavery
06:20 Coleman’s journey from Columbia to UATX
08:30 Dr. King vs Derrick Bell
11:20 Racial disparities by IQ and salary
13:00 Thomas Sowell & the Real History of Slavery
19:00 America’s Founding hypocrisy
24:00 Will the Left cancel Dr. King?
26:20 Understanding the 1619 Project
30:25 Breakdown of the black family
37:20 Is America wealthy because of slavery?
43:50 Are you worried about woke AI?
45:40 Three solutions for racial progress


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As a former Principal at Founders Fund, Founding Partner at SciFi VC, and 8VC advisor, Eric Scott has invested in and helped build numerous technology leaders. He’s launching his new fund, Overlook Capital, where he sees missed opportunities in the market. How has venture investing evolved in recent years? Where does he see the dislocations? And how will AI change the game going forward?
After graduating from Claremont McKenna College, Eric emailed his way into Max Levchin’s network, becoming an early employee at HVF Labs where he learned to invest and build companies. He later spun out SciFi VC as its Founding Partner, before landing as a Principal at Founders Fund. He was an early investor in Anduril, Crusoe Energy, among others, and a senior advisor at 8VC where he helped us launch Harbor Health.
We begin our conversation with Eric’s journey — from persuading Max Levchin to hire him as a technical assistant to investing at HVF and launching SciFi VC. Next, we dive into the state of venture today. Learn why Eric believes that larger and larger fund sizes are concentrating capital into the hottest AI bets, creating real inefficiencies just below the top tier. He lays out the thesis behind his new firm and where he sees missed opportunities. Finally, Eric shares his optimistic vision for the years ahead and why he believes this is one of the best times in a generation to start and build important companies.
00:00 Episode intro
01:30 Meeting Max Levchin and learning to build
06:30 Launching SciFi VC & investment lessons
12:05 How VC is changing
13:40 Biggest missed opportunity in venture
16:15 Enormous dislocations in the market
21:30 How AI is changing the game
24:00 Overlook Capital
27:50 Optimism for the future



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Jacob Helberg is leading the State Department's efforts to secure critical supply chains and win the global AI race. How is the U.S. shifting from dependency on China to building new partnerships around energy, minerals, and infrastructure? Which economies will grow fastest in the AI era? Who will be left behind? And how will this impact geopolitics? We discuss these timely topics with Jacob, Under Secretary of State for Economic Growth, Energy, and the Environment. A tech policy veteran who worked at Google and Palantir before serving on the U.S.-China Economic and Security Review Commission, Jacob was confirmed last fall to help execute the administration’s economic statecraft agenda. He's the author of "The Wires of War: Technology and the Global Struggle for Power."We begin our conversation with Jacob’s mission at the State Department and the launch of Pax Silica: a new US-led economic security coalition to secure supply chains and help America dominate in AI innovation. We dive into Jacob's recent deal in the Philippines to build an AI-native industrial hub, and explore the contrast with China’s Belt and Road Initiative. Next, Jacob makes the bull case for AI drawing on lessons from history: the PC revolution displaced 3.5 million jobs, he explains, but created 19 million more with the advent of the software industry! Finally, he explains why principled, positive-sum diplomacy is delivering results where old models failed, and how the AI revolution is transforming the global balance of power.
00:00 Episode intro
02:30 Historic deal with Philippines
05:25 Jacob's background
07:30 Why is Europe falling behind?
13:00 The asymmetric power of tech
15:35 Jacob responds to AI doomers & skeptics
19:15 Global Competition: China, AI, and Diverging Growth
21:45 What is Pax Silica?
23:45 New Global Order in AI age
29:30 Is China pushing back?
31:45 Optimism for the future


This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit blog.joelonsdale.com