
Uncapped #53 | Trae and Delian from Founders Fund
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About this episode
Trae Stephens is a Partner at Founders Fund and co-founder and Executive Chairman of Anduril Industries, a defense technology company building autonomous systems for the U.S. military and its allies. As of May 2026, Anduril is valued at $61 billion. Prior to co-founding Anduril, Trae was an early employee at Palantir Technologies, where he led teams focused on the intelligence and defense space. Delian Asparouhov is a Partner at Founders Fund and co-founder and President of Varda Space Industries, a company manufacturing pharmaceuticals and advanced materials in microgravity that can't be made as effectively on Earth. Delian was a Thiel Fellow in 2013 after dropping out of MIT computer…