# Challenger Cities EP84: The De-Risking Industrial Complex with Richard Fisher

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Text version: https://stenobird.com/podcast/challenger-cities-6959558/challenger-cities-ep84-the-de-risking-industrial-complex-with-richard-fisher.md
Podcast: [Challenger Cities](https://stenobird.com/podcast/challenger-cities-6959558)
Published: 2026-06-03T12:13:00+00:00
Episode link: https://rss.com/podcasts/challengercitytoronto/2880034
Audio file: https://content.rss.com/episodes/278784/2880034/challengercitytoronto/2026_06_02_19_04_26_3718bc29-5e9d-483a-bb44-2edb59036030.mp3
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JSON: https://stenobird.com/v1/public/podcasts/challenger-cities-6959558/episodes/challenger-cities-ep84-the-de-risking-industrial-complex-with-richard-fisher
Duration seconds: 4371

## Resource

Two risk-management cultures looking at each other across a table, each waiting for the other to move. That's rail's relationship with venture capital. Iain talks to Richard Fisher, founder of Future Travel Studio, about why nobody would fund his Dream Suite flatbed seat for trains, even after InnovateUK had backed it and operators had tested it. About rail's proposition gap, the incumbents who monetise complexity rather than solve it, and why every discipline in the chain can be doing its job correctly while the sector as a whole still can't move. Plus what a transatlantic venture studio is trying to build instead.

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## Transcript

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