#14: Choosing Good Quests: Innovation, AI, and Winning in a World of Regulation

Season 1 Episode 15

How do you choose the right quest — the kind of mission that truly matters, and can survive in today’s world of regulation, politics, and entrenched incumbents?

In this episode, Founders Fund General Partner and Anduril co-founder Trae Stephens shares his philosophy of “Good Quests” — and what entrepreneurs must get right when tackling hard, meaningful problems. We dive deep into how AI will transform defense and national security, why the future of warfare is distributed and AI-driven, and how entrepreneurs can navigate government sales and political opposition.

From raising capital to surviving regulated markets, this is a tactical and inspiring conversation for anyone building in ambitious, frontier spaces.

This episode is a masterclass in mission-driven entrepreneurship, AI strategy, and playing to win in a changing world.

Follow Trae Stephens – X (Twitter): https://twitter.com/traestephens

Follow Derek Andersen – X (Twitter): https://twitter.com/derekjandersen

Timestamps:

0:00 - Introduction: The Naivety of Building Products

0:20 - Welcome to Divot and Episode Overview

1:10 - Guest Introduction: Trae Stephens

1:32 - The Concept of Good Quests for Founders

3:50 - Identifying a Good Quest and Its Importance

6:40 - Market Size and Its Relevance to Good Quests

8:42 - Governance and Board Seats in Venture Capital