What we took home from Milken Week

Three of us spent last week in Beverly Hills for the Milken Institute Global Conference. The official sessions ran May 3 through 6 across the Beverly Hilton and the Waldorf, under the banner “Leading in a New Era.” As always, the more useful conversations happened in the side rooms, the hotel suite meetings, and the Tuesday night party we sponsored. A few things we are bringing back to clients.
From Punchline to Platform: Hard Things Round Two and the Real History of Robotics

San Francisco, CA: Figure AI is now valued at $39 billion. Humanoid robotics funding grew roughly 15x in three years, to $3.7 billion in 2025. Tracxn counts 121 humanoid companies globally, sitting on $6.89 billion of venture capital.