The U.S. government shutdown that began this week is the first in seven years. While it might not feel immediately disruptive, for startups waiting on permits, visas, or regulatory approvals, even a few weeks can become an existential problem.

On this episode of Equity, Kirsten Korosec, Anthony Ha, and Max Zeff talk through how uncertainty is affecting startups in ways people might not realize, plus the messy reality of AI companies still trying to figure out sustainable business models.

Listen to the full episode to hear about:

• OpenAI’s launch of the Sora app, its TikTok-style feed of AI-generated content, and whether people actually want to pay for an endless stream of synthetic videos

• How AI-generated actress Tilly Norwood is proving that even fake performers can cause real industry drama

• Periodic Labs’ $300 million seed round from Andreessen Horowitz, Jeff Bezos, and Nvidia to build AI scientists and discover new physics

• The US government taking equity stakes in companies like Lithium Americas, MP Materials, and Intel, is raising questions about what happens when Washington steps in as a shareholder

Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday.

Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.

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