Redwood Materials started with battery recycling. Eclipse CEO Lior Susan says their next focus will be much bigger: turning those recycled batteries into massive energy storage systems for data centers. “They originally started on recycling. We had some questions of, ‘How big can this market be alone?’” “Then they started talking with us about energy storage—basically taking the batteries that they recycle & rebuilding those batteries for very large energy storage for data centers.”

“85% of the world’s GDP, roughly $100T, is in the physical world.” Silicon Valley spent years pouring capital into software while some of the world’s biggest industries were barely being touched: “The largest TAM is manufacturing. The largest TAM is energy, defense, transportation, shipping, mining.” “Metal manufacturing is a $3T industry.” “When we started Eclipse, I don't have the numbers, but my guess was quite a lot of money was going into enterprise software and probably 0 was going into metal manufacturing.” “It just didn't make sense to me.” — Eclipse CEO Lior Susan

When Lior Susan told Silicon Valley legend Pierre Lamond he wanted to start building companies again, Pierre shut the idea down immediately: “He shut the door & he's like, ‘Young man, we are investors now. We are not building companies anymore.’” Today, 30 of Eclipse’s 90 companies were built in-house, including: › Bright Machines › Bedrock Robotics › Mytra › Mind Robotics › Peak Energy

“Silicon Valley & venture overall bullshit the world that SaaS & gross margin were the most important metrics.” “Tesla is what, mid-teens? It kind of trades like the best SaaS companies in the world. @cerebras is, I don't remember, 40–50% gross margin. It trades way better than most SaaS companies—because they solve a really tough problem in a gigantic market, & they get paid for it.” Eclipse CEO Lior Susan:

One of the wildest “Can you help us with this?” calls a VC can get: Lior Susan flew to the Midwest after getting a call that one of their companies’ data centers flooded and literally turned into a pool. “I get a phone call, and they say, ‘Hey, we have a pool here rather than a data center.’ Basically [there was] massive leakage of the water cooling of that data center.” “I put myself on a plane. Immediately I'm flying to a place in the Midwest to find the data center absolutely looks like a pool.” “It was like 72 hours of me pulling all of our network of service providers, new installation, new HVAC systems, figuring out things that I actually never did before.” “That’s what we do. I was there 72 hours, without my family, anything else, just on the floor till that got fixed.”

Eclipse CEO Lior Susan says the backlash against data centers is “stupid” & ignores the thousands of jobs & economic activity they create “One thing that people don't understand outside of Silicon Valley—when you build in the physical world, you actually have an impact on the rest of the country.” “When you build a data center in Nebraska, you create thousands of jobs. It's a circular economy.. you need energy to serve that, you need construction, you need materials. Those people need to live. You need housing. You need service providers & restaurants. The whole flywheel of the economy is actually kicking in.”

Anduril founder @PalmerLuckey on beating Boeing, Northrop Grumman & Lockheed Martin: " One of the things we're most proud of is Fury." "As far as I know, it's the fastest new fighter development program since the end of the Korean War."

Pierre Lamond is one of Silicon Valley’s original legends. He co-founded National Semiconductor, joined Sequoia in the early ’80s & spent nearly 3 decades investing in semiconductors & systems. At 85 years old, he met 31-year-old Lior Susan & decided to start Eclipse Ventures with him off their first meeting: "I'm like, 'Sir, A: I didn't finish high school. B: I’ve never invested a dollar in my life.” “He said, "I will teach you everything you need to know about that industry.’ & 4 months later, Eclipse was born.” “Pierre is a special man.” “We had the huge privilege to just hear the stories & learn from him what the industry was originally designed by. It's actually very different today—they were all operators, they were all hands on. They did very few deals. They had a very gentlemanly relationship between the firms.” “He told us so many stories about Sequoia & Kleiner saving companies for each other. Can you imagine calling another VC today & being like, "I have an issue with this company. I need you to come put in capital & help me save that company." It would never happen.”

Palo Alto Networks CEO @nikesharora: There’s massive alpha on LinkedIn & nobody is paying attention to it "Our general counsel I hired off of LinkedIn. I had a dinner last night with somebody who I found on LinkedIn because I think he'd be great for our company." "It's a great place to find people. You get to look at everything they say and see if they're intelligent or not." "They're not interviewing when they're posting on LinkedIn. So if I can read what people have written over the last 40 years on LinkedIn, I can tell you who they are without having to ask them." "I bring them in the room for half an hour.. if you can't fool me for half an hour, then you shouldn't come work here anyway."

“This is the best time to build.” Eclipse Founder and CEO Lior Susan joined @sourceryy's @MollySOShea to talk about why we built Eclipse differently, the bet we made on the physical economy a decade ago, and why the opportunity is bigger than ever. For the full conversation: bit.ly/3VdkTgt

BREAKING: @RJScaringe’s Mind Robotics is going to show off their 1st product this year How Mind Robotics got spun out of Rivian: “I've been talking with RJ for a long time about robotics & manufacturing. We probably talked for 3 years before we started Mind together. We were talking about general purpose robotics in manufacturing—it needs to be mobile. It doesn't need to look like a human, so not a humanoid. It needs to have high dexterity. You need a lot of data in order to train the model.” “He's like, ‘You know, we have a small team inside Rivian focusing on that.’” — Eclipse CEO Lior Susan

Eclipse CEO Lior Susan says Sam Altman is misunderstood: “I spent quite a lot of time with @sama at OpenAI in the last year or so.” “I actually think he's really special. And I actually think he's a really good guy with a good heart & a great builder.”

BREAKING: Rare Interview w/ @EclipseVentures Co-Founder & CEO Lior Susan Eclipse turned $147M into a $2.5B Cerebras stake. $12.5B AUM. 90 companies. 30 built in-house. $40B–$50B in portfolio commercial deals last year. Lior goes deep on the $100T physical-world opportunity, Eclipse’s Venture Equity model & why free cash flow beats gross margin. Fund Stats: › $1.3B raised in April across Fund VI + Early Growth III › 17x on Cerebras at the $185 IPO price › Portfolio companies raised $15.9B in 2026 alone › 30 of 90 companies built in-house through Venture Equity › $40B–$50B in commercial deals signed across the portfolio last year "We never thought of ourselves as venture capital. We call it operators with capital because we are operators with capital." Founded in 2015 by Lior Susan alongside Silicon Valley legend Pierre Lamond, who worked with Gordon Moore at Fairchild Semiconductor, helped build National Semiconductor & spent nearly 3 decades at Sequoia. Eclipse bet early on the physical world across semiconductors, manufacturing, robotics, defense, energy & infrastructure. Portfolio: @andrewdfeldman x @cerebras, Parallax, Prime Minute, Anduril, Wayve, Redwood Materials, VulcanForms, Bedrock Robotics, True Anomaly, Ursa Major, Oxide, Bright Machines, Verkada, Mytra, Peak Energy, The Nuclear Company, Reliable Robotics, Skyryse, Mind Robotics & ALSO. 𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒 (00:00) Lior Susan, Founder & CEO at Eclipse (01:02) The story behind Eclipse (02:35) How Lior met Pierre (05:54) The culture Pierre brought to the team (07:33) Why physical companies need operators (11:21) How Eclipse decides what to build (12:35) How Mind Robotics was spun out of Rivian (15:41) Why Lior started Eclipse (18:21) Why building physical companies is so hard (20:53) Why there are only 3 major memory companies (21:51) Why hardware can beat SaaS economics (24:33) Inside Eclipse’s physical industry bet (29:15) This is the best time to build (31:01) The Redwood Materials story (32:35) The "Second Act" of physical companies (33:20) Building moats in the Physical World (34:05) Why on-prem infrastructure is coming back (36:01) Building the "Eclipse Economy" (40:08) Why physical infrastructure creates jobs (41:19) From banana farmer to VC (43:37) What it really means to support a portfolio company (46:00) Who inspires Lior?

ICYMI: @Neko Health Opens in NYC FULL TOUR I take you through the full 60min Neko experience from start to finish.. including, of course, where everyone gets the famous yellow robe shots The FOMO is real. Demand in New York was already significant before the doors opened: more than 30,000+ New Yorkers joined the waitlist ahead of launch. Founded by Hjalmar Nilsonne (@HNilsonne) & Spotify's Daniel Ek (@eldsjal), Neko launched its first clinic in Stockholm in 2023. It has since expanded across Sweden and the UK and completed more than 100,000 scans. The Neko Health Scan costs $499 & takes around 60 minutes (~30min tests/scans, ~30min doctor review). The experience is non-invasive and radiation-free, combining proprietary sensors, imaging, blood analysis and clinical review to capture millions of data points across the body. It measures cardiovascular health, circulation, skin, blood, metabolic health and body composition. Neko’s technology can detect skin changes as small as 0.2 millimeters, while its cardiovascular measurements include ECG, blood pressure, oxygen saturation, arterial stiffness, heart and breathing rate. The company recently added body composition analysis and wearable data integration, giving clinicians additional information on what is happening between annual visits. But one of the biggest differences is speed. Rather than completing tests and waiting days or weeks for results from different providers, Neko designed the experience around getting the data back during the same visit. Results are processed on-site within minutes and then reviewed directly with a clinician. Hjalmar Nilsonne, Neko Health Co-Founder & CEO: “What if a single visit could give you a more complete picture of your health, where it’s heading, and a clear plan from a medical professional to change what happens next?” Neko also builds its hardware, software and clinical protocols in-house. That vertical integration allows the company to control the entire experience — from the sensors collecting the data to how clinicians interpret and present the results. Nilsonne describes that integration as fundamental to the model: “This vertical integration is not incidental; it is the foundation that allows Neko Health to control the experience from start to finish, to move faster and to improve continuously.” There are early signs that members are actually coming back. 75% of members book and prepay for their next annual scan at the end of their first appointment, 80% rebook after their second scan for a third scan. Neko has also started publishing data on what happens to members over time. Among returning members who had previously been identified with severe or life-threatening conditions, the company says 3/4 were either in good health or had the condition under control at follow-up. Across the broader returning population, five of seven key biomarkers showed statistically significant improvement between the first and second scans. That data comes from Neko’s own member population and should be viewed as company-reported observational results, rather than evidence from a randomized clinical trial. The U.S. launch follows a $700 million Series C in July led by @lightspeedvp and co-led by O.G. Venture Partners. More than 350,000 people globally have now joined the waitlist or registered for a scan. Nilsonne: “The clearest proof is in our members: the vast majority of our members return after their first scan, and when they do, their health markers move in the right direction.” New York is only the first step in the U.S. rollout. Neko plans additional NYC locations, followed by Miami, Washington, D.C. and San Francisco. For Ek and Nilsonne, the larger bet is that healthcare can move from primarily reacting to disease toward measuring more, earlier.. and giving people information they can act on before something feels wrong. Neko is certainly becoming a cultural movement.

Data centers in space are a "no brainer." SpaceX's 1st employee Tom Mueller @lrocket on @elonmusk's plan to move compute into space: "It makes the most sense of anything to move to space. All you need as an input is power, and all you have as an output is data." "You move it to space, you have all the power you would ever need, and you transmit that data back down on a terabit laser beam—it's solved. It's just so simple."