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Just over a week ago we launched the new Stepchange Show. The response has greatly exceeded our expectation.

Over 1200 listeners! We had no idea that many people would want to spend 3 hours learning about coal and find us in the first 7 days since launch.


In the long term we think it’s important that we all learn from the stories of infrastructure and progress. More than the number of listeners we’ve been deeply touched by the impact we’ve heard from listeners:

It’s the content I didn’t know I was craving. It’s a part of the story that I feel like a lot of founders (myself included) don’t always take the time to understand. I’m getting more conviction that we really need to work on macro go to market strategy for a majority of our transition goals. I think a key part of that macro strategy comes from understanding why things are the way they are and the strategy that got the current infrastructure entrenched the way it is.

Honestly got me pumped up today. I’m on my second go of listening to it. I think this is gonna be a really great onramp for some strong founders. It feels like a much more historical and scientific approach instead of climate change/doom and gloom/times running out.

Hearing that the episode was not only educational, but was also motivating listeners to work on infrastructure, validates our biggest hopes for creating this show.

A few calls to action: if you haven’t already, please subscribe to the show on your preferred platform: Apple, Spotify, and YouTube. Ratings and reviews make a huge difference in helping others discover a new show and are appreciated if you enjoyed Part I. And most importantly, please send the show to friends who you think might enjoy it so that they can be caught up before Part II is released!

And thank you to

from who reached out and asked if he could do a behind the scenes Substack Live with us about how the podcast came to be. Recording should be playable above or on YouTube:

-Ben & Anay

hi@stepchange.show


As a teaser for Part II we recommend Nat Bullard’s amazing annual deck on the state of decarbonization. Particularly slides 16-19 tell us just where we are in the long story of coal. 2024 was a record year for human coal consumption, which was the largest source of emissions. The story of this rise in recent years centers on the decline of the West’s coal dependence and the rapid rise of China’s and India’s:

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