Critical Capital

For 40 years, the U.S. economy has been optimizing itself for the digital world while exporting its physical manufacturing capabilities. Now, the rise of AI is leaving a massive physical footprint in the form of data centers, power plants, and supply chains. In this first episode of Critical Capital, Crux CEO and host Alfred Johnson sits down with Aidan Madigan-Curtis, partner at Eclipse Ventures, to discuss why the next generation of trillion-dollar companies will be built where "atoms and bits" connect. They trace the industrial arc from the Gilded Age to the modern age of physical AI, exploring the geopolitical "dance" with China and the radical energy shifts required to power the future along the way. And they ask: Who wins when the digital world runs headfirst into the physical one?  Critical Capital is a co-production of Crux and Latitude Studios. Learn more about how Crux is financing the future of energy.

The future of energy isn’t shaped by technology alone. It’s shaped by markets, policy, capital flows, and the institutions that connect them. Trillions of dollars are moving into clean and critical infrastructure, across energy, advanced manufacturing, supply chains, AI, and digital infrastructure. But the forces driving those investments are complex, global, and often misunderstood. Alfred Johnson is the CEO of Crux, the capital platform for the clean economy. He has spent his career working at the intersection of finance, software, and public policy. On Critical Capital, Alfred talks with the people deploying capital, shaping policy, and laying the foundation for the modern economy. This is a show about how power moves across markets, institutions, and systems — and what that means for the future of energy. Episodes drop every other Tuesday, starting April 28. Subscribe to Critical Capital wherever you get your podcasts, or listen at cruxclimate.com.