Did you know 70% of American factory investment immediately flows overseas? 
 
In this thought-provoking episode of Movers and Makers, Diagon co-founders Will Drewery and Greg Smyth join Blake Menezes to explore critical manufacturing decisions facing industry leaders in 2025. The conversation reveals a startling reality: when American companies invest in new factories, approximately 70% of that capital flows overseas to purchase manufacturing equipment. “No one knows that 70% gets wired overseas almost immediately,” notes Greg, highlighting this hidden dynamic that shapes everything from innovation capabilities to strategic independence. Will adds, “Our ability to make future-facing products is only going to be limited by the toolset of tools that we have to make those things.” 

Against a backdrop of economic uncertainty and what Greg calls “decision paralysis,” the discussion delves into why long-term thinking is essential for manufacturing success. The team explores battery manufacturing as a case study, examining how specialized equipment capabilities ultimately limit product innovation potential. Will’s hot take? “Companies willing to take a bold stance on a long-term vision that is strategic and well-informed are going to do exceedingly well over the next few years.” Whether you’re procuring equipment, planning factory expansion, or interested in industrial strategy, this episode provides actionable insights on positioning for tomorrow’s manufacturing success. 

 
In This Episode:  

• (00:00) Opening thoughts on future-facing manufacturing tools 

• (01:11) Introduction to PMI numbers and manufacturing decline 

• (04:12) Understanding factory investments during economic uncertainty 

• (07:31) Long-term versus short-term thinking for manufacturers 

• (09:34) Battery manufacturing supply chain insights and challenges 

• (14:45) How Diagon helps de-risk equipment procurement decisions 

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About the show:  

The Movers and Makers podcast, powered by Diagon.ai, explores the future of manufacturing and supply chain innovation. Hosted by Diagon co-founders Will Drewery and Greg Smyth, the show will cover factory-building strategies, manufacturing processes, and market insights. With expertise from Diagon, a leader in reshoring and streamlining manufacturing equipment procurement, the podcast offers valuable perspectives for engineers, executives, and enthusiasts, aiming to optimize supply chains and drive efficiency in the industry. 

About the hosts:  
 
Will Drewery Will Drewery is the founder and CEO of Diagon, an equipment marketplace focused on serving the battery industry. With a background in equipment procurement, Will’s career began as a DOD contractor in Iraq in 2009, followed by significant experience at Tesla (2012-2018), where he built and led the equipment procurement team. He also gained valuable tech expertise working with Social Construct and Astra. In February 2024, Will successfully led Diagon through a pivot from a procurement software model to its current marketplace focus, raising $4.3M in Series A funding. His mission is to simplify the complex processes of sourcing, financing, and managing machinery for high-tech industries, particularly in batteries and aerospace. 
 

Greg Smyth is a co-founder and current VP of Supply Chain for Diagon, as well as a venture partner and podcast host. Greg has extensive experience in engineering, supply chain management, and investment. Originally from Newfoundland, Canada, Greg worked at ExxonMobil for 8 years before moving to Silicon Valley in 2016. At Tesla, he spent 4 years negotiating $200M contracts, leading the development of self-driving hardware, and managing full life cycle commodity procurement—from raw materials to recycling. Greg is also an angel investor who continues to drive Diagon’s growth and success.  

Resources: 

Diagon.ai 

Will Drewery LinkedIn 
 
Greg Smyth LinkedIn