Possible: Satya Nadella on making human and token capital compound

In this recent episode of Possible, Reid Hoffman sits down with Microsoft CEO Satya Nadella fresh off Microsoft Build 2026. The conversation goes wide: how AI is reshaping work, business, and society—and why the transformation sweeping through software development today is only a preview of what's coming for all knowledge work. Satya makes the case that human capital and "token capital" are now deeply intertwined, that companies—not just countries—must build their own AI capabilities, and that the organizations best positioned to thrive are those that can leverage their unique expertise inside intelligent systems. Reid and Satya also explore Microsoft's enterprise AI vision, Reid's work with Manas on AI-powered scientific discovery, lessons from past technological revolutions, and why demonstrating real, tangible benefits may be the most important thing the industry can do to earn—and keep—the public's trust.

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