Why are interest rate cuts finally unlocking billions in factory investments?

Will Drewery and Greg Smyth, co-founders of Diagon.ai, dive into the manufacturing equipment market's dramatic Q4 surge. After months of hesitation driven by interest rate uncertainty and tariff concerns, buyers are finally moving forward with major capital investments. Will, now leading Diagon's commercial efforts, reports seeing 60-70 equipment requests monthly—from aerospace coating machines to semiconductor wire bonders. "Companies are looking to get equipment sooner so they can spend their time making products rather than buying machines," Will explains. The conversation reveals how used equipment markets are heating up and why flexibility in specifications can slash costs from $6 million to under $1 million.

Greg shares insights from his product leadership role, describing Diagon's three-pillar approach: marketplace visualization, proprietary industrial data, and AI expertise through their Albus platform. The team has switched roles internally, with Will now interfacing with customers daily while Greg builds the technology stack. Their mission? Democratize equipment procurement the way Gusto simplified payroll and Shopify opened e-commerce. As Greg puts it: "Most people are not Tesla with huge expert teams buying equipment all day long. They're CEOs or manufacturing engineers doing procurement—and these transactions are complicated." Will emphasizes that what differentiates their AI platform is the data—"It used to be that information just completely goes back into the ether. Now we capture and hold on to those learnings."

In This Episode:

• (00:00) Macro trends and administration changes impact

• (03:32) Interest rates and tariffs driving hesitation in factory investments

• (09:48) Tips for equipment buyers: flexibility and total cost ownership

• (14:45) Diagon and Albus platform overview and AI capabilities

• (20:33) Current project examples: coating machines and wire bonders

• (28:20) Closing thoughts on data, product vision and team excitement

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About the Show

The Movers and Makers podcast, powered by Diagon.ai, explores the future of manufacturing and supply chain innovation. Hosted by Diagon co-founders Will Drewery and Greg Smyth, the show covers factory-building strategies, manufacturing processes, and market insights. With expertise from Diagon, a leader in reshoring and streamlining manufacturing equipment procurement, the podcast offers valuable perspectives for engineers, executives, and enthusiasts aiming to optimize supply chains and drive efficiency in the industry.

Resources:
Join the waitlist for Albus AI - Diagon's AI-powered procurement assistant that cuts months off equipment sourcing timelines. Get early access at https://join.diagon.ai/
Diagon.ai http://Diagon.ai
Will Drewery LinkedIn https://www.linkedin.com/in/williamdrewery/
Greg Smyth LinkedIn https://www.linkedin.com/in/gregoryfsmyth/

How are Intel's $10 billion government investment, Ford's biggest manufacturing shift since the Model T, and Tesla's equipment secrets all connected to America's industrial future?

Will Drewery and Greg Smyth dive deep into Ford's revolutionary EV manufacturing announcement, analyzing it through their unique lens as former Tesla equipment procurement executives. Will, who was responsible for purchasing equipment during Tesla's Model 3 launch, explains why Doug Field's leadership at Ford signals authentic transformation rather than typical corporate announcements. "Execution is everything. Announcements are cheap, but execution is really where the proof is in the pudding," Will emphasizes when discussing Ford's shift from linear assembly to subsystem integration.

The conversation expands to examine the Trump administration's strategic $10 billion Intel investment and its implications for American semiconductor manufacturing. Greg shares insights from his time at ExxonMobil, including firsthand experience with the company's $200 billion Russian operations and the complexities of global manufacturing partnerships. Both hosts offer contrarian takes on AI development, with Greg arguing that "the iPhone moment is behind us" for artificial intelligence, suggesting the industry is entering an incremental improvement phase rather than continued exponential growth.

In This Episode:

• (00:00) Family vacation stories

• (06:25) Ford's revolutionary EV manufacturing platform announcement analysis

• (16:06) Exxon's potential return to Russia operations

• (24:04) Trump administration's Intel investment strategy

• (30:47) Hot takes on AI plateauing and commodification

• (37:03) Equipment procurement insights and Diagon product updates

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About the Show

The Movers and Makers podcast, powered by Diagon.ai, explores the future of manufacturing and supply chain innovation. Hosted by Diagon co-founders Will Drewery and Greg Smyth, the show covers factory-building strategies, manufacturing processes, and market insights. With expertise from Diagon, a leader in reshoring and streamlining manufacturing equipment procurement, the podcast offers valuable perspectives for engineers, executives, and enthusiasts aiming to optimize supply chains and drive efficiency in the industry.

Resources:
Join the waitlist for Albus AI - Diagon's AI-powered procurement assistant that cuts months off equipment sourcing timelines. Get early access at https://join.diagon.ai/
Diagon.ai http://Diagon.ai
Will Drewery LinkedIn https://www.linkedin.com/in/williamdrewery/
Greg Smyth LinkedIn https://www.linkedin.com/in/gregoryfsmyth/

Are we about to see the biggest manufacturing boom since World War II?

Manufacturing is experiencing its biggest transformation in decades, driven by AI breakthroughs and unprecedented government incentives. Greg Smyth and Will Drewery, co-founders of Diagon.ai, join Blake Menezes to dissect Microsoft's massive $120 billion annual CapEx commitment and a wave of new factory announcements totaling over $12 billion. What's driving this surge? "Business confidence is returning as the tariff situation stabilizes and GDP rebounds to 3%," explains Greg.

The conversation explores Jensen Huang's provocative concept of "two factories for every factory" - one producing physical goods, the other manufacturing intelligence through AI. Will emphasizes the productivity imperative: "Companies won't be able to compete without AI integration in strategic industries." They break down three critical provisions in recent manufacturing legislation that could save companies millions through equipment expensing and advanced manufacturing credits. The hosts also preview Albus, their AI procurement assistant that's revolutionizing how manufacturers source equipment by acting as "the most capable technical procurement person you could add to your team."

In This Episode:

• (00:00) Introduction to manufacturing tax benefits and Microsoft earnings surge

• (03:06) Factory announcements discussion and GDP growth analysis

• (08:05) Jensen Huang's AI manufacturing vision and data center factories

• (15:40) One Big Beautiful Bill tax provisions for manufacturers

• (20:04) Diagon's AI procurement platform Albus development and capabilities

• (29:31) Hot takes on economic growth and startup ecosystem revival

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Guest Bio

Patrick McGee is a Financial Times journalist and author of "Apple in China," examining how Apple became dependent on Chinese manufacturing infrastructure. As the Financial Times' Apple beat reporter from 2019-2023, McGee covered global supply chain dynamics and US-China trade relationships. His investigative work earned him the San Francisco Press Club Award in 2023. "Apple in China" has been recognized by The Economist as one of 2025's top 40 books and named a most anticipated title by major publications.

About the Show

The Movers and Makers podcast, powered by Diagon.ai, explores the future of manufacturing and supply chain innovation. Hosted by Diagon co-founders Will Drewery and Greg Smyth, the show covers factory-building strategies, manufacturing processes, and market insights. With expertise from Diagon, a leader in reshoring and streamlining manufacturing equipment procurement, the podcast offers valuable perspectives for engineers, executives, and enthusiasts aiming to optimize supply chains and drive efficiency in the industry.

Resources:

Publications/Articles Mentioned: The Economist magazine, Barry Weiss's Honestly podcast, Wall Street Journal article on Tesla's Optimist robot development with Chinese suppliers, "Breakneck" by Dan Wang (upcoming book), "Abundance" by Ezra Klein and Derek Thompson, Andy Grove's 2010 essay on manufacturing and innovation

Book:

Why does Apple invest $55 billion annually in Chinese manufacturing while US factories struggle to source equipment?

Patrick McGee, Financial Times journalist and author of "Apple in China," reveals the manufacturing reality behind Apple's $55 billion annual investment in Chinese factories. This episode explores critical equipment procurement challenges, automation strategies, and reshoring decisions facing manufacturing executives in 2025. Drawing from Tesla's Shanghai factory experience and Apple's supply chain dominance, McGee discusses why 350 million Chinese workers create unmatched manufacturing capacity.

The conversation examines China's "invisible hand" industrial policy that enables overnight factory construction, comparing it to America's regulatory environment that can delay equipment installations for years. McGee challenges assumptions about humanoid robots as manufacturing solutions, questioning whether importing Chinese-made robots truly addresses US industrial competitiveness. For procurement managers and plant directors planning 2025 capital expenditures, this discussion provides essential insights into global equipment sourcing, supplier relationships, and the geopolitical forces reshaping manufacturing investment strategies.

In This Episode:

• (00:00) Introduction of guest Patrick McGee, Financial Times author and "Apple in China" insights
• (01:46) Trade war dynamics, tariffs impact on Apple's China sourcing strategy and India expansion
• (06:57) Apple's consumer market strategy versus manufacturing location decisions and $70 billion China business
• (15:33) China speed manufacturing advantages, migrant workforce reality, and 350 million worker capacity
• (23:31) Tesla Shanghai factory experience, supplier expertise, and PhD-level tool and die engineers
• (33:02) Humanoid robots debate as manufacturing labor solution versus importing Chinese automation
• (42:48) Tesla and SpaceX success stories in American manufacturing and automation possibilities
• (48:21) Apple's $55 billion investment model, future funding sources, and consumer-backed growth
• (56:22) Jony Ive and Sam Altman collaboration: manufacturing implications and AI hardware future
• Share with someone who would benefit, like and subscribe to hear all of our future episodes!

Patrick McGee is a Financial Times journalist and author of "Apple in China," examining how Apple became dependent on Chinese manufacturing infrastructure. As the Financial Times' Apple beat reporter from 2019-2023, McGee covered global supply chain dynamics and US-China trade relationships. His investigative work earned him the San Francisco Press Club Award in 2023. "Apple in China" has been recognized by The Economist as one of 2025's top 40 books and named a most anticipated title by major publications.

The Movers and Makers podcast, powered by Diagon.ai, explores the future o...

Is friend-shoring the real future of American manufacturing strategy?

Discover why American manufacturing's future looks nothing like its past. Host Blake Menezes sits down with Diagon co-founders Will Drewery and Greg Smyth to reveal the hidden realities behind factory announcements, reshoring strategies, and the $4 billion facilities making headlines. Will shares firsthand experience purchasing 10,000+ robotic arms at Tesla while Greg breaks down why traditional reshoring fails economically.

The conversation reveals the shocking reality that 70% of equipment in "American" factories still comes from overseas, plus insider stories from Tesla's inherited Toyota facility. From finding decade-old lunchboxes to navigating environmental permits, Will explains the true economics of retrofit versus greenfield manufacturing. Greg argues reshoring needs a complete rebrand, introducing friend-shoring as the strategic alternative that actually works economically.

In This Episode:

• 00:00) Greg's Canadian ski-themed birthday party discussion

• (02:48) Vibe coding with Will's Tesla robotics experience

• (06:48) Greg's perspective on AI abstraction in factory design

• (15:48) Reshoring needs a rebrand, friend-shoring versus traditional approaches

• (26:54) New factory announcements, Emirates Aluminum and GM Buffalo

• (33:41) Will explains new versus retrofit facilities, Tesla Fremont case study

• (38:13) Hot takes segment and AI tools discussion

• Share with someone who would benefit, like and subscribe to hear all of our future episodes!

About the show:

The Movers and Makers podcast, powered by Diagon.ai, explores the future of manufacturing and supply chain innovation. Hosted by Diagon co-founders Will Drewery and Greg Smyth, the show will cover factory-building strategies, manufacturing processes, and market insights. With expertise from Diagon, a leader in reshoring and streamlining manufacturing equipment procurement, the podcast offers valuable perspectives for engineers, executives, and enthusiasts, aiming to optimize supply chains and drive efficiency in the industry.

About the hosts:

Will Drewery Will Drewery is the founder and CEO of Diagon, an equipment marketplace focused on serving the battery industry. With a background in equipment procurement, Will's career began as a DOD contractor in Iraq in 2009, followed by significant experience at Tesla (2012-2018), where he built and led the equipment procurement team. He also gained valuable tech expertise working with Social Construct and Astra. In February 2024, Will successfully led Diagon through a pivot from a procurement software model to its current marketplace focus, raising $4.3M in Series A funding. His mission is to simplify the complex processes of sourcing, financing, and managing machinery for high-tech industries, particularly in batteries and aerospace.

Greg Smyth is a co-founder and current VP of Supply Chain for Diagon, as well as a venture partner and podcast host. Greg has extensive experience in engineering, supply chain management, and investment. Originally from Newfoundland, Canada, Greg worked at ExxonMobil for 8 years before moving to Silicon Valley in 2016. At Tesla, he spent 4 years negotiating $200M contracts, leading the develop...

Did you know 70% of American factory investment immediately flows overseas?

In this thought-provoking episode of Movers and Makers, Diagon co-founders Will Drewery and Greg Smyth join Blake Menezes to explore critical manufacturing decisions facing industry leaders in 2025. The conversation reveals a startling reality: when American companies invest in new factories, approximately 70% of that capital flows overseas to purchase manufacturing equipment. "No one knows that 70% gets wired overseas almost immediately," notes Greg, highlighting this hidden dynamic that shapes everything from innovation capabilities to strategic independence. Will adds, "Our ability to make future-facing products is only going to be limited by the toolset of tools that we have to make those things."

Against a backdrop of economic uncertainty and what Greg calls "decision paralysis," the discussion delves into why long-term thinking is essential for manufacturing success. The team explores battery manufacturing as a case study, examining how specialized equipment capabilities ultimately limit product innovation potential. Will's hot take? "Companies willing to take a bold stance on a long-term vision that is strategic and well-informed are going to do exceedingly well over the next few years." Whether you're procuring equipment, planning factory expansion, or interested in industrial strategy, this episode provides actionable insights on positioning for tomorrow's manufacturing success.

In This Episode:

• (00:00) Opening thoughts on future-facing manufacturing tools

• (01:11) Introduction to PMI numbers and manufacturing decline

• (04:12) Understanding factory investments during economic uncertainty

• (07:31) Long-term versus short-term thinking for manufacturers

• (09:34) Battery manufacturing supply chain insights and challenges

• (14:45) How Diagon helps de-risk equipment procurement decisions

• Share with someone who would benefit, like and subscribe to hear all of our future episodes!

About the show:

The Movers and Makers podcast, powered by Diagon.ai, explores the future of manufacturing and supply chain innovation. Hosted by Diagon co-founders Will Drewery and Greg Smyth, the show will cover factory-building strategies, manufacturing processes, and market insights. With expertise from Diagon, a leader in reshoring and streamlining manufacturing equipment procurement, the podcast offers valuable perspectives for engineers, executives, and enthusiasts, aiming to optimize supply chains and drive efficiency in the industry.

About the hosts:

Will Drewery Will Drewery is the founder and CEO of Diagon, an equipment marketplace focused on serving the battery industry. With a background in equipment procurement, Will's career began as a DOD contractor in Iraq in 2009, followed by significant experience at Tesla (2012-2018), where he built and led the equipment procurement team. He also gained valuable tech expertise working with Social Construct and Astra. In February 2024, Will successfully led Diagon through a pivot from a procurement software model to its current marketplace focus, raising $4.3M in Series A funding. His mission is to simplify the complex processes of sourcing, financing, and managing machinery for high-tech industries, particularly in batteries and aerospace.

...

Will new US tariffs trigger major manufacturing reshoring or just higher consumer prices?

In this episode of Movers and Makers, Will Drewery and Greg Smyth welcome Jack Slagle, a trade policy expert who previously led export control programs at Tesla, Mitsubishi, and Restoration Hardware. The timing couldn't be more relevant, as the conversation dives into the recent "Liberation Day" announcement of reciprocal tariffs by the Trump administration. Jack breaks down the motivations behind these tariffs, explaining how they target the trade deficit rather than matching other countries' existing barriers. "Other countries have just as many tools in their boxes," Jack warns, describing how the international community is already forming new alliances in response.

The discussion explores regional implications across Asia, Europe, and beyond, with particular focus on semiconductor supply chains and manufacturing strategy. Could Taiwan's 32% tariff be designed to accelerate TSMC's expansion in Arizona? Will Southeast Asian nations align with China or capitulate to US demands? Jack offers a surprising recommendation: "I would immediately send a lot of these powers back to Congress." He argues that executive trade actions, which can be "done and undone in 48 hours," create an unstable investment climate that undermines the very manufacturing reshoring the administration hopes to achieve. For manufacturers and supply chain leaders, this episode provides crucial context for navigating what Jack calls "a highly dynamic environment."

Jack Slagle is a seasoned expert in international trade policy, export controls, and global supply chain compliance. With an educational background in international security, Jack brings a unique geopolitical perspective to complex trade issues. His impressive career includes leading trade compliance programs at major multinational corporations including Tesla, Mitsubishi, and Restoration Hardware. Currently working as an independent consultant, Jack helps businesses navigate the increasingly complex landscape of tariffs, export controls, and international trade regulations. His expertise spans understanding both the technical aspects of tariff implementation and the broader geopolitical implications of trade policy. Jack's analysis is particularly valuable during this period of unprecedented change in global trade relationships and manufacturing strategy

In This Episode:

• (00:00) Introduction of Jack Slagle, export controls expert from Tesla, discussing the recent "Liberation Day" tariff announcements and their global implications

• (04:32) Understanding how reciprocal tariffs were calculated based on trade deficits rather than matching existing barriers, and what this means for international trade

• (14:21) Regional impacts across Asia as countries form new alliances, with focus on China, Taiwan, and semiconductor supply chains

• (27:22) India and European Union responses to US tariff policy, including potential revival of Boeing-Airbus disputes and new trading blocs

• (38:04) Recommendations for more stable trade policy through congressional oversight rather than executive action, creating a more predictable business environment

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About the show:

The Movers and Makers podcast, powered by Diagon.ai, explores the future of manufacturing and supply chain innovation. Hosted by Diagon co-founders Will Drewery and Greg Smy...

Can manufacturing really become 'sexy' again for the next generation, and what surprising strategies might actually work?

In this compelling episode, we explore manufacturing leadership and innovation through the lens of Karla Trotman, President and CEO of Electro Soft, the largest black and women-owned electronics contract manufacturing firm in the US. Drawing from her experience transitioning from corporate roles at companies like Gap and Ikea to leading her family's manufacturing business, Trotman discusses the challenges and opportunities in modern manufacturing, particularly in high-mix, low-volume electronics production for defense and industrial applications.

You’ll hear a deep dive into critical industry topics including domestic manufacturing capabilities, workforce development challenges, and the importance of diversity in manufacturing leadership. Trotman, author of "Dark, Dirty and Dangerous: Building the Vibrant Future of Manufacturing," shares valuable insights on transforming manufacturing's image, developing the next generation of manufacturing talent, and managing family business succession while maintaining authenticity in leadership.

Karla Trotman is the President and CEO of Electro Soft, Inc. (ESI), the largest black and women-owned electronics contract manufacturing firm in the United States. Following successful roles in supply chain and logistics at Gap, Ikea, and Honeywell, she took over her family's manufacturing business, transforming it through innovative marketing and operational strategies. A graduate of Penn State and Drexel University, Trotman is also the author of "Dark, Dirty and Dangerous: Building the Vibrant Future of Manufacturing," where she addresses the challenges and opportunities in modern manufacturing while advocating for industry transformation.

In This Episode:

• (00:00) Karla Trotman's journey from corporate America to leading Electro Soft, and her unique perspective on family business and breaking manufacturing stereotypes

• (14:00) Electro Soft’s ongoing competitiveness in domestic manufacturing through high-mix low-volume production while addressing critical supply chain challenges and reshoring opportunities

• (26:16) "Dark, Dirty and Dangerous" and how Trotman is working to transform manufacturing's image from an outdated stereotype to an innovative career path for future generations

• (34:50) Authentic leadership and diversity in manufacturing - Trotman discusses navigating traditionally homogeneous spaces while staying true to her identity

• (56:38) Practical advice for family business succession planning and preparing the next generation of leaders through early exposure, financial literacy, and creating meaningful connections within family business networks

• Share with someone who would benefit, like and subscribe to hear all of our future episodes!

About the show:

The Movers and Makers podcast, powered by Diagon.ai, explores the future of manufacturing and supply chain innovation. Hosted by Diagon co-founders Will Drewery and Greg Smyth, the show will cover factory-building strategies, manufacturing processes, and market insights. With expertise from Diagon, a leader in reshoring and streamlining manufacturing equipment procurement, the podcast offers valuable perspectives for engineers, executives, and enthusiasts, aiming to optimize supply chains and drive efficiency in the industry.

About the hosts:...