The Token Budget Problem Nobody Is Talking About (Matan Grinberg, Co-Founder & CEO of Factory)

About this episode

Matan Grinberg is the co-founder and CEO of Factory , an AI company valued at $1.5 billion that helps enterprises like Nvidia, Morgan Stanley, and Adobe automate software development through “Droids,” intelligent agents designed to streamline software engineering. Before Factory, Matan spent more than a decade in theoretical physics, studying string theory at Princeton and UC Berkeley. His work now centers on a different kind of complex system: how software gets built in an era of increasingly capable AI agents, open models, and shifting compute economics. In our conversation, we explore: How Emmy Noether’s theorem continues to shape Matan’s approach to technology, business, and AI Why…