Uploaded May 2026 | Updated September 2026, 1 week ago
Founder quality becomes more important as startups become easier to build.
Trae Stephens, co-founder of Anduril and partner at Founders Fund, has spent years backing founders with strong conviction, including most recently at Roadrunner.
He shares why too much capital too early can hurt startups, and why the best companies are built by teams with complementary strengths.
Guest: Trae Stephens, co-founder, Anduril and Partner, Founders Fund
Connect with Trae Stephens
X: https://x.com/traestephens
LinkedIn: linkedin.com/in/trae-stephens-485a811
Connect with Joubin:
X: https://x.com/Joubinmir
LinkedIn: linkedin.com/in/joubin-mirzadegan-66186854
Email: grit@kleinerperkins.com
Follow on LinkedIn:
linkedin.com/company/kpgrit
Follow on X:
https://x.com/KPGrit
Learn more about Kleiner Perkins: kleinerperkins.com
(00:00) Trailer
(00:39) Introduction
(01:22) Why Anduril couldn't start in San Francisco
(03:55) Practicing faith in Silicon Valley
(08:32) Work as a calling versus just a paycheck
(12:19) A rock in my life
(17:31) From Georgetown to the intelligence community
(18:36) Early days at Palantir
(22:16) Meeting Peter Thiel and Founders Fund
(30:03) Roadrunner and founder-market fit
(43:11) The X-Men analogy for building teams
(52:40) Appreciating the early days
(55:44) What grit means to Trae
Founder quality becomes more important as startups become easier to build.
Trae Stephens, co-founder of Anduril and partner at Founders Fund, has spent years backing founders with strong conviction, including most recently at Roadrunner.
He shares why too much capital too early can hurt startups, and why the best companies are built by teams with complementary strengths.
Guest: Trae Stephens, co-founder, Anduril and Partner, Founders Fund
Connect with Trae Stephens
X: https://x.com/traestephens
LinkedIn: linkedin.com/in/trae-stephens-485a811
Connect with Joubin:
X: https://x.com/Joubinmir
LinkedIn: linkedin.com/in/joubin-mirzadegan-66186854
Email: grit@kleinerperkins.com
Follow on LinkedIn:
linkedin.com/company/kpgrit
Follow on X:
https://x.com/KPGrit
Learn more about Kleiner Perkins: kleinerperkins.com
(00:00) Trailer
(00:39) Introduction
(01:22) Why Anduril couldn't start in San Francisco
(03:55) Practicing faith in Silicon Valley
(08:32) Work as a calling versus just a paycheck
(12:19) A rock in my life
(17:31) From Georgetown to the intelligence community
(18:36) Early days at Palantir
(22:16) Meeting Peter Thiel and Founders Fund
(30:03) Roadrunner and founder-market fit
(43:11) The X-Men analogy for building teams
(52:40) Appreciating the early days
(55:44) What grit means to Trae
