Most Americans have no reason to think about the electromagnetic spectrum. It is invisible, silent, and — until something goes wrong — effectively unnoticed. Yet spectrum is the medium that carries everything the country depends on: aircraft navigation, wireless broadband, satellite links, weather radar, GPS, emergency services, and the command-and-control backbone of national defense.

There is an old adage in the energy business: “fusion energy has been 30 years away, for the last 60 years, and always will be.” This line is so common you can find it on Wikipedia. We have heard the joke for most of our careers, but we hear it less and less these days. 

The AI supercycle isn’t just creating new winners - it’s reviving old ones. From repurposed jet engines to utility-scale power systems, the second-order beneficiaries are the operators who can deliver real infrastructure, fast.

Space security is shifting fast, and the latest conversation with True Anomaly’s CEO is a reminder of how quickly the balance of power can move. It’s a clear signal that the next strategic frontier isn’t theoretical anymore.

Watch the interview with Jeff and Viraj Acharya. Jeff’s path from biomedical research to climate, space, and now defense investing shows what happens when someone is willing to dig into the physics, challenge the narrative, and back founders who actually understand the systems they’re trying to build.

Venture capital is reorganizing around a new center of gravity: deep tech, hard physics, and investors who actually understand how things get built. Jeff Crusey and Ryan Duffy map the shift - and the growing gap between megafunds and the specialized operators the frontier economy now depends on.

Space-based compute might sound like the ultimate cloud - endless solar power, cosmic cooling, zero-earth constraints - but the real challenges lie in the physics: heat, radiation, latency, and launch costs. Per Aspera digs deep to show that the cloud in orbit is not inevitable: it demands far more rigor than marketing lets on.