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    Business

    Riskgaming

    A podcast by venture capital firm Lux Capital on the opportunities and risks of science, technology, finance and the human condition. Hosted by Danny Crichton from our New York City studios.

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    Copyright: © Lux Capital

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    Latest Episodes:
    “Collaborating with the entire history of human expression” Nov 12, 2025
    Show notes

    We hosted an epic one-day festival to human expression in New York City a few weeks ago called the Lux AI Summit, bringing together hundreds of founders, artists, engineers and visionaries who are redefining the future of media. Two of our speakers, Kirby Ferguson and Ale Matamala Ortiz joined us on the Riskgaming podcast to talk about the future of filmmaking in a generative AI world.Kirby is a filmmaker, and he’s most well-known for his work around remix culture in a documentary series titled “Everything is a Remix.” Ale is the co-founder and Chief Design Officer of Runway, a Lux portfolio company that builds a generative AI studio for anyone producing films.Together with hosts Danny Crichton and Laurence Pevsner, our quad talks about the current economics of the film industry and the recession underway in Los Angeles, why filmmaking would have changed even without the rise of AI, how to think about remixing through software versus remixing through culture, the coming convergence of narrative forms like films and video games, and what the future of artists will look like with co-intelligences.



    Europe, China and the future of open borders in science Nov 05, 2025
    Show notes

    While relations between the United States and China have reached a detente in the past week after APEC, it’s the long-term decline of relations between the European Union and China that is worth a deeper look. Over the past two decades, Europe and China cooperated across science, technology and economic development, helping fuel China’s vast labs and manufacturing base that today is at the center of the West’s fears for its primacy in the world. Everything has changed, and so what can we learn from the past?For more than a decade, Halldor Hardarson lived and worked in China as part of EURAXESS, an initiative of the European Union to connect European and Chinese scientists together to accelerate frontier research. From the heady and optimistic early 2010s to the serious challenges of Covid-19, Hardarson saw it all live from Beijing — a far cry from his home fishing village in Iceland. Today, he works at a biotech unicorn in Iceland called Kerecis, which uses fish skin for tissue regeneration.With host Danny Crichton and Riskgaming scenario consultant Ian Curtiss, the trio talk about what Iceland can learn from China and vice versa despite the massive population gap, the transformation in the European Union’s relationship with China, and we throw in some optimistic notes at the end for a nice aftertaste.



    On the frontiers of research at the Lux AI Summit Oct 29, 2025
    Show notes

    Last week, Lux convened about 300 AI engineers, scientists, researchers and founders in New York City to discuss the frontiers of the field under the banner of “the AI canvas.” The idea was to move the conversation away from what can be built, to what should be built and why. AI tools have made extraordinary progress since the launch of ChatGPT in late 2022, and we are still just figuring out all of the ways we can use these miraculous correlation machines.Even so, there remains prodigious work on the research frontiers of artificial intelligence to identify ways of improving model performance, merging models together, and ensuring that training and inference costs are as efficient as possible. To that end, we brought together two stars of the science world to talk more about the future of AI.Kyunghyun Cho is a computer science professor at New York University and executive director of frontier research at the Prescient Design team within Genentech Research & Early Development (gRED). Shirley Ho is Group Leader of Cosmology X Data Science at the Flatiron Institute of the Simons Foundation as well as Research Professor in Physics at New York University.Together with hosts Danny Crichton and Laurence Pevsner, we talk about the state of the art in AI today, how scientific discovery can potentially be automated with AI, whether PhDs are a thing of the past, and what the future of universities is in a time of funding cuts and endowment taxes.



    The present and future of wargaming Oct 22, 2025
    Show notes

    Riskgaming is part of the broader movement known as wargaming, playful experiences designed to improve decision-making across domains like defense planning, business leadership and competitive analysis. It’s a burgeoning field, and it has now attracted its very own publication in the form of the Substack newsletter Wargaming Weekly. This week, I talk with the editor Rwizi Rweizooba Ainomugisha. He’s a wargaming fanatic based in Uganda, where he first started learning the gaming world in high school by building an underground casino. He then discovered gamification while working in B2B marketing before eventually entering the wargaming world as a player and now as a designer of two micro-games. He’s also a co-founder of the gamified fintech startup, Lupiiya Books. We talk about Rwizi’s background, how gamification is infiltrating all kinds of different fields, the rise of wargaming and the artificial delineations that still plague the field, the ebb and flow of strategic thinking, and finally, why solitaire games offer a unique on-ramp into this world.


    Riskgaming State of the Union Oct 01, 2025
    Show notes

    In this episode, Danny Crichton and Laurence Pevsner do a special outdoor recording from Carmel, where they reflect on the successful launch of their latest game, Gray Matter, at multiple locations, including the Lux Leaders retreat. The hosts discuss the emergent gameplay that surprised them, from spontaneous character-driven debates to unexpected trading outcomes. They explore the game's core mechanics around information markets, attention economies, and strategic publication decisions—examining how players navigate the tension between keeping information proprietary versus making it public for advantage.

    The conversation shifts to Southwest Silicon, their recently launched deep-dive simulation focused on Arizona's semiconductor industry and water security challenges. Danny and Laurence discuss how this immersive format differs from their larger salon experiences, highlighting the complex world of water rights in the American Southwest and how players grappled with resource allocation decisions that mirror real-world policy dilemmas.

    Looking ahead, the hosts preview upcoming games exploring urban automation, critical mineral supply chains, university research funding, civil infrastructure security, and the future of international development institutions. They discuss their philosophy of using game design to model emerging technologies and reimagine institutional frameworks for an AI-driven future.



    The global future of wargaming in Lithuania Sep 24, 2025
    Show notes

    Wargaming (of which Riskgaming is but one example) has a long and global history, from Europe and Asia into the Americas. Yet, its utility is increasingly being recognized by business, military and political leaders as a more authentic way to understand the behavior of people across all kinds of contexts. Competition, incentives, risk and decision-making flow together in a way that traditional policy memos and consultant-written PPTs can’t compare.

    That’s part of the work that Pijus Krūminas is focused on. He’s a professor at Lithuania’s ISM University of Management and Economics and is the head of its Wargaming Lab. His research converges the social sciences into modeling and simulations, tapping into fields like political economy, game theory, management and more to create a new synthesis.

    Subbing for host Danny Crichton this week is Ian Curtiss, our independent Riskgaming scenario designer, who recently launched Southwest Silicon as Lux’s latest offering.

    Ian and Pijus talk about simulating the polycrisis, how academic research flows into wargaming design, how students are learning through experiences, why political economy is overlooked compared to traditional military wargames, and a variety of recommended games for newcomers to the field.


    Behind the scenes of our new scenario, Southwest Silicon Sep 17, 2025
    Show notes

    One of the best parts of running a game studio and policy shop here at Riskgaming at Lux Capital is the actual public launch of a new game. That day is today, because we are dropping Southwest Silicon to the world. It’s a game that models the tensions between residents, farmers as well as old and new industries in the context of the rise of chip fabs in Arizona. Water security is one of the most challenging and complex issues facing the American Southwest, and through the lens of nine characters in the game, we hope to leave every player with a more profound set of questions on what’s next as America continues to grow.

    On the podcast today, host Danny Crichton talks with the game’s designer, Ian Curtiss. Ian previously designed our Chinese electric vehicle scenario, Powering Up, and now he brings his hometown lens to bear on the future of advanced manufacturing and economic development.

    The two talk about the game’s design, its implications and what we’ve witnessed as we have watched players the world over compete over the future of silicon and sand. Listen in, and we hope you join a live runthrough soon — or host your own.


    How compute and AI will create next-gen superapps Sep 10, 2025
    Show notes

    The launch of OpenAI’s GPT-5 has ushered in a panoply of views on the future of AGI and end-user applications. Does the platform’s aggressive router presage a future of lobotomized AI responses driven more by compute efficiency than quality? Will new chip models be able to make up the difference? And how will OpenAI, which recently hired Fidji Simo from Instacart to become CEO of Applications, expand its revenue beyond API calls and consumer subscriptions?These are huge questions which will ricochet throughout the tech economy. Thankfully, we have a veteran hand this week to go over it with us in the form of Dylan Patel, founder, CEO, and chief analyst of Semianalysis. He’s the guru everyone reads (and listens to), covering the intricacies of chips and compute for a readership of hundreds of thousands of subscribers.Joining host Danny Crichton as well as Lux’s Shahin Farshchi and Michelle Fang, the quartet discuss the questions above plus how Mark Zuckerberg is transitioning Meta Reality Labs, the hopes and dreams of new chip startups, the future of AI workloads, and finally, Intel after the U.S. government’s purchase of 10% of its shares.



    America’s degrowth lawyers need to learn from China Sep 03, 2025
    Show notes

    It’s fun to play a game of superlatives with China. From the awe-inspiring and cyberpunk scale of the metro trains cruising through apartment blocks in Chongqing to the stupendous rate of its shipbuilding, housing construction and waterworks, China has shown that it can build like no other. That includes the just-announced Medog Hydropower Station, which at $167 billion would be one of the largest and most expensive construction projects ever seen. Behind all of this activity is a state organized for engineering, designed for speed and scale.

    That’s one half of the thesis of Breakneck, the new book out by Dan Wang, which was already long listed for book of the year by the Financial Times. The other half of the thesis is that America is ruled by a lawyerly society, one that holds up projects across years of red tape and lawsuits in the name of everything from noise pollution to just good old-fashioned trolling. Can we have growth without the lawyers? And what are the costs when every project can’t be debated to its most minute detail?

    Dan and host Danny Crichton talk about Dan’s trips across China, the massive growth he witnessed while living in the country for six years, and comparisons between China, America, South Korea and Japan, and why the virtuous cycle of construction is so absent from America today.



    The CIA in the 21st Century Aug 27, 2025
    Show notes

    Few agencies have been more central to global affairs than the aptly-named Central Intelligence Agency. Often shrouded in mystique both cultivated and unasked for, the agency has been at the center of some of the most important foreign policy successes of the United States — such as the search for bin Laden — and also some of the country’s gravest errors, including the Iraq War WMD debacle. Yet, the agency faces profound pressure today on what its present and future mission should be in a world of increasing competition between great powers.That mission is the subject of Tim Weiner’s new book “The Mission: The CIA in the 21st Century.” Weiner has been chronicling the agency since the 1980s, from its covert action program in Afghanistan to the austere budget years of the 1990s to the rise of counterterrorism and now, the pivot to Russia, China, Iran and other U.S. adversaries.Alongside host Danny Crichton, the two talk about Weiner’s history reporting on the agency, the challenge of regrouping to confront future threats versus present ones, how the agency has struggled on intelligence gathering in China, the relationship between the FBI and CIA, and finally, what’s next for the agency under the current Trump administration.



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