In this episode, energy policy expert Erik Olson joins Madelyn O’Farrell to unpack how surging electricity demand from AI and data centers is colliding with an aging, slow-moving U.S. grid and regulatory system. They discuss why today’s load growth is comparable to the 1970s air conditioning boom, the challenges utilities face in integrating massive, fast-moving data center projects, and the financial risks of overbuilding grid infrastructure that may never be fully used. Erik explains how geography, water constraints, transmission limits, and state-by-state rules shape where data centers can actually go, and highlights creative solutions like data centers directly funding clean energy projects or paying to improve residential energy efficiency to offset their load. He closes with lessons from his time at the Department of Energy, arguing that policymakers need to prioritize simplicity, speed, and clear implementation over “perfect” policy design if they want to keep up with the pace of real-world energy infrastructure development.

Highlights from their conversation include:

• Erik’s Background in Energy Policy (0:28)
• Explaining the Generational Surge in Electricity Demand (1:34)
• Collision Between Fast Tech Companies and Slow Grid Institutions (1:50)
• How Massive Data Centers Strain Traditional Utility Planning (3:54)
• Risks of Overbuilding, Stranded Assets, and Who Pays (7:37)
• Geographic Hotspots, Constraints, and State-by-State Differences (8:27)
• Creative Workarounds Like Curtailment, Direct Funding, and Efficiency (11:18)
• Lessons From DOE on Policy, Implementation, and Speed in Government (15:12)
• Final Thoughts on Moving at the Speed of Business (20:51)

Dynamo Ventures is a venture firm backing founders upgrading the physical economy. As intelligence moves into critical infrastructure and technology collides with physics, industry is entering a new era of transformation - the industrial renaissance.

Born from the dirt and grit of supply chains and shaped by operations, not spreadsheets, Dynamo focuses on the complex realities of building in the real world. We invest in companies transforming infrastructure, manufacturing, logistics, transportation, and the systems that power global commerce.

Dynamo works closely with founders who combine ambition with a bias to action, bringing a builder mindset to venture capital through deep operational insight, systematic pressure-testing and hands-on partnership.

Our purpose is simple: to back the relentless shaping the industrial renaissance. Learn more at www.dynamo.vc.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, Madelyn O’Farrell talks with Mike Matson, Co-Founder and CEO of Birch Geothermal, about his journey from the US Navy and academia through oil and gas, carbon capture, and consulting at BCG to founding Birch. They unpack what Enhanced Geothermal Systems (EGS) are, why Birch is “rooted in speed,” and how geothermal can scale quickly to meet soaring power demand from data centers and AI infrastructure. Mike explains geothermal’s rare bipartisan appeal, the strong market signal from Fervo’s recent IPO, and how 80–90% of oil and gas subsurface skills transfer directly into geothermal. They also explore what must go right for geothermal to move from a rounding error to a meaningful share of the US power mix over the next decade, and where the biggest “picks and shovels” investment opportunities lie across drilling, subsurface design, monitoring, and modular power systems.

Highlights from their conversation include:

• Mike’s Journey from Navy Service to Academia and Teaching (0:41)
• Midlife Rowing Expedition and Move into Drilling Operations (2:55)
• Shift from Oil and Gas to Carbon Capture and Clean Energy (3:42)
• Joining BCG and Discovering a Thesis Around Geothermal (4:31)
• Why Geothermal Has Unique Bipartisan Support in Politics (6:08)
• Market Signal from Fervo’s Landmark IPO and Debt Financing (10:36)
• Why the Mountain West Is Ground Zero for Early EGS Projects (13:55)
• How Oil and Gas Skills Transfer 80–90% into Geothermal Roles (16:27)
• Birch’s Thesis: Scaling Geothermal without a Green Premium (19:55)
• AI, Data Centers, and the 10-Year Outlook for Geothermal in the US Mix (23:19)
• Picks and Shovels Opportunities Across Drilling, Subsurface, and ORC Systems (25:51)
• Final Thoughts and Takeaways (29:37)

Dynamo Ventures is a venture firm backing founders upgrading the physical economy. As intelligence moves into critical infrastructure and technology collides with physics, industry is entering a new era of transformation - the industrial renaissance.

Born from the dirt and grit of supply chains and shaped by operations, not spreadsheets, Dynamo focuses on the complex realities of building in the real world. We invest in companies transforming infrastructure, manufacturing, logistics, transportation, and the systems that power global commerce.

Dynamo works closely with founders who combine ambition with a bias to action, bringing a builder mindset to venture capital through deep operational insight, systematic pressure-testing and hands-on partnership.

Our purpose is simple: to back the relentless shaping the industrial renaissance. Learn more at www.dynamo.vc.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, Madelyn O’Farrell talks with Drew DeLong, Lead, Corporate Statecraft, Kearney Foresight, about how companies can navigate a new era of persistent geopolitical and economic volatility. Drew traces his path from engineering at Carnegie Mellon to policy roles in Congress, the White House, DOT, FAA, and State, and now advising global firms at Kearney Foresight. They discuss the shift from pure efficiency to resilience after COVID exposed supply chain vulnerabilities, the reality behind “reshoring” and what Kearney’s reshoring index actually shows, and how tariff volatility and sectoral tariffs are reshaping global manufacturing decisions. Drew explains how companies should think about capital planning, total landed cost, and automation in this environment, and explores China’s move up the value chain and the emerging race over semiconductors, critical minerals, and AI infrastructure. He closes by raising the open question of what a coherent, long-term American industrial policy should look like, and how the US government can realistically execute it.

Highlights from their conversation include:

• From Engineering to Policy and Corporate Statecraft (0:47)
• What Kearney and Corporate Statecraft Do for Clients (4:26)
• Shift from Efficiency to Resilience after Covid (8:47)
• What Kearney’s Reshoring Index Reveals about Imports (12:29)
• How Sectoral Tariffs Signal US Industrial Strategy (17:10)
• Capital Planning amid Tariffs and Geopolitical Volatility (21:12)
• China’s Move up the Value Chain and Strategic Sectors (24:32)
• What an American Industrial Policy Could Look Like (28:49)
• Final Thoughts and Takeaways (29:30)

Dynamo Ventures is a venture firm backing founders upgrading the physical economy. As intelligence moves into critical infrastructure and technology collides with physics, industry is entering a new era of transformation - the industrial renaissance.

Born from the dirt and grit of supply chains and shaped by operations, not spreadsheets, Dynamo focuses on the complex realities of building in the real world. We invest in companies transforming infrastructure, manufacturing, logistics, transportation, and the systems that power global commerce.

Dynamo works closely with founders who combine ambition with a bias to action, bringing a builder mindset to venture capital through deep operational insight, systematic pressure-testing and hands-on partnership.

Our purpose is simple: to back the relentless shaping the industrial renaissance. Learn more at www.dynamo.vc.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.