All-In with Chamath, Jason, Sacks & Friedberg Jason Calacanis

0:00 Bestie intros
4:09 Assessing SBF bailing out major crypto players & the state of the market
18:24 Classifying crypto assets, high-yield crypto lending
34:17 Zendesk sells for $10B, accounting for stock-based comp, evergreen standard in tech
1:01:24 Buyout targets, public market "regime change"
1:08:21 Russia/Ukraine impact on markets, could US diplomacy have prevented the war?
1:28:35 Science Corner: Friedberg breaks down the newest breakthrough AlphaFold application
Follow the besties:
https://twitter.com/chamath
https://linktr.ee/calacanis
https://twitter.com/DavidSacks
https://twitter.com/friedberg
Follow the pod:
https://twitter.com/theallinpod
https://linktr.ee/allinpodcast
Intro Music Credit:
https://rb.gy/tppkzl
https://twitter.com/yung_spielburg
Intro Video Credit:
https://twitter.com/TheZachEffect
Referenced in the show:
https://www.wsj.com/articles/crypto-fund-three-arrows-ordered-to-liquidate-by-court-11656506404
https://www.cnbc.com/2022/06/22/sam-bankman-fried-rescues-crypto-lenders-blockfi-voyager.html
https://www.coindesk.com/business/2022/06/25/morgan-creek-is-trying-to-counter-ftxs-blockfi-bailout-leaked-call-shows/
https://twitter.com/ForbesCrypto/status/1541893168152690690
https://californiahealthline.org/news/article/tech-titans-want-the-richest-californians-to-pay-for-pandemic-preparedness/
https://twitter.com/DavidSacks/status/1540732780501381121
https://www.marketwatch.com/story/gensler-labels-bitcoin-a-commodity-as-crypto-prices-stabilize-11656340239
https://www.coinbase.com/price/bitcoin
https://www.coinbase.com/price/ethereum
https://www.blockchaincenter.net/en/altcoin-season-index/
https://techcrunch.com/2022/06/24/zendesk-drama-concludes-with-102-billion-private-equity-acquisition
https://techcrunch.com/2022/02/11/zendesk-spurns-17b-private-equity-takeover-offer/
https://investor.zendesk.com/ir-home/press-releases/press-releases-details/2022/Zendesk-Announces-Fourth-Quarter-and-Fiscal-Year-2021-Results/default.aspx
https://investor.zendesk.com/ir-home/press-releases/press-releases-details/2022/Zendesk-Announces-First-Quarter-2022-Results/default.aspx
https://cloudedjudgement.substack.com/p/clouded-judgement-62422
https://techcrunch.com/2022/02/25/zendesk-terminates-4-1b-surveymonkey-acquisition-after-its-own-investors-reject-deal/
https://www.google.com/finance/quote/CRM:NYSE
https://www.google.com/finance/quote/WDAY:NASDAQ
https://www.google.com/finance/quote/NOW:NYSE
https://www.issgovernance.com/library/resurgence-of-evergreen-features-in-ipo-equity-plans-restrict-investor-say/
https://www.bloomberg.com/news/articles/2022-06-25/jana-partners-pulls-zendesk-proxy-fight-after-9-5-billion-deal
https://cdn.manscaped.io/assets/investor-relations/manscaped-investor-presentation-slides-2022.pdf
https://investor.onepeloton.com/node/9271/html
https://investors.buzzfeed.com/node/7426/html
https://kalshi.com/events/CPI-22JUN/markets/CPI-22JUN-T0.9
https://www.washingtonpost.com/national-security/2022/06/17/long-war-ukraine/
https://twitter.com/missy_ryan/status/1537944064703619074
https://www.reuters.com/world/kremlin-says-nato-expansion-ukraine-crosses-red-line-putin-2021-09-27/
https://www.reuters.com/markets/stocks/putin-warns-russia-will-act-if-nato-crosses-its-red-lines-ukraine-2021-11-30/
https://theconversation.com/ukraine-war-follows-decades-of-warnings-that-nato-expansion-into-eastern-europe-could-provoke-russia-177999
https://www.nytimes.com/2021/06/16/world/europe/biden-putin-geneva-meeting.html
https://abcnews.go.com/amp/US/wireStory/us-officials-land-solomons-discuss-china-pact-concerns-84238211
https://amp.cnn.com/cnn/2021/09/01/politics/ukraine-volodymyr-zelensky-biden-white-house/index.html
https://www.state.gov/u-s-ukraine-charter-on-strategic-partnership/
https://apnews.com/article/moscow-russia-europe-ukraine-belarus-6d9818ff922a2650de107734a7c3faf5
https://news.yahoo.com/blinken-says-no-change-nato-1936

0:00 Besties discuss the one-month hiatus
7:03 Markets update: Fed decisions, goals, macro factors, root causes
32:19 Earnings estimate skepticism, labor force, job openings
47:17 How startups should think about the next 18-36 months
56:20 Crypto collapse, next shoe(s) to drop
1:08:41 Russia/Ukraine endgame, escalation, scrutinizing US alliances, sanctions failing
1:33:12 Will 2024 be Biden vs. Trump? Could it be DeSantis vs. Newsom?
Follow the besties:
https://twitter.com/chamath
https://linktr.ee/calacanis
https://twitter.com/DavidSacks
https://twitter.com/friedberg
Follow the pod:
https://twitter.com/theallinpod
https://linktr.ee/allinpodcast
Intro Music Credit:
https://rb.gy/tppkzl
https://twitter.com/yung_spielburg
Intro Video Credit:
https://twitter.com/TheZachEffect
Referenced in the show:
https://www.google.com/finance/quote/SPY:NYSEARCA
https://www.google.com/finance/quote/.DJI:INDEXDJX
https://www.cnbc.com/2022/06/10/consumer-price-index-may-2022.html
https://www.longtermtrends.net/home-price-median-annual-income-ratio
https://www.cnbc.com/2021/06/09/tc-energy-terminates-keystone-xl-pipeline-project.html
https://www.reuters.com/business/energy/us-talks-with-allies-russian-oil-price-cap-says-yellen-2022-06-20/
https://www.xe.com/currencycharts/?from=RUB&to=USD&view=1Y
https://www.wsj.com/articles/inflation-bls-price-checkers-who-determine-cpi-11652132333
https://www.chicagofed.org/research/dual-mandate/dual-mandate
https://data.oecd.org/leadind/consumer-confidence-index-cci.htm
https://www.rasmussenreports.com/public_content/politics/top_stories/right_direction_wrong_track_jun20
https://thehill.com/policy/finance/3525909-56-percent-in-new-poll-believe-us-is-in-recession/
https://www.linkedin.com/pulse/reducing-inflation-come-great-cost-stagflation-ray-dalio
https://fred.stlouisfed.org/series/CIVPART
https://tradingeconomics.com/united-states/job-offers
https://www.socialcapital.com/ideas/2021-annual-letter
https://techcrunch.com/2022/05/10/tiger-global-hit-by-17b-hedge-fund-losses-has-nearly-depleted-its-latest-vc-fund
https://www.coinbase.com/price/bitcoin
https://www.coinbase.com/price/ethereum
https://www.coindesk.com/business/2022/06/17/three-arrows-capitalconfirms-heavy-losses-from-lunas-collapse-exploring-potential-options-report
https://www.ft.com/content/19c27ae1-ae72-4668-b3a9-162adc27dffc
https://decrypt.co/103489/solend-whale-108m-loan-nearly-crashed-solana
https://www.justice.gov/usao-sdny/pr/former-employee-nft-marketplace-charged-first-ever-digital-asset-insider-trading-scheme
https://www.ft.com/content/4e211784-83eb-49a2-ba39-8976345a88d5
https://www.washingtonpost.com/world/2022/06/10/ukraine-ammunition-donbas-russia/
https://www.americanpurpose.com/blog/fukuyama/why-ukraine-will-win/
https://www.bloomberg.com/news/articles/2022-03-02/london-listed-russian-stocks-erase-570-billion-in-two-weeks
https://www.bloomberg.com/news/articles/2022-06-20/ruble-soars-to-seven-year-high-in-challenge-to-bank-of-russia
https://www.cnbc.com/2022/06/23/russias-ruble-is-at-strongest-level-in-7-years-despite-sanctions.html
https://www.wsj.com/articles/u-s-push-for-exceptions-in-europes-sanctions-on-russian-oil-gains-traction-11655913796
https://abcnews.go.com/International/wireStory/correction-germany-nuclear-shutdown-story-82051054
https://www.bloomberg.com/news/articles/2022-06-23/catl-unveils-ev-battery-with-one-charge-range-of-1-000-kms
https://nymag.com/intelligencer/2022/06/why-ron-desantis-can-beat-trump-in-2024.html

This talk was recorded LIVE at the All-In Summit in Miami and included slides. To watch on YouTube, check out our All-In Summit playlist: https://bit.ly/aisytplaylist
0:00 Jason intros today's episode
2:31 Palmer Luckey on Anduril, national defense & the current thing
25:24 Bestie Q&A with Palmer
53:13 Jason gives closing thoughts
Follow Palmer:
https://twitter.com/PalmerLuckey
Follow the besties:
https://twitter.com/chamath
https://linktr.ee/calacanis
https://twitter.com/DavidSacks
https://twitter.com/friedberg
Follow the pod:
https://twitter.com/theallinpod
https://linktr.ee/allinpodcast
Intro Music Credit:
https://rb.gy/tppkzl
https://twitter.com/yung_spielburg
Intro Video Credit:
https://twitter.com/TheZachEffect
Links referenced in the show:
https://www.thedailybeast.com/palmer-luckey-the-facebook-near-billionaire-secretly-funding-trumps-meme-machine

This talk was recorded LIVE at the All-In Summit in Miami and included slides. To watch on YouTube, check out our All-In Summit playlist: https://bit.ly/aisytplaylist
0:00 Antonio Gracias joins to talk: Tesla's early days, investing in Elon, macroeconomic outlook, ROIC, importance of energy independence, future of manufacturing, financial-ization of the P&L & more
22:35 Q: How has the poker game influenced your decision making in business and life?
29:33 Q: What was the scariest step of becoming a first-time fund manager?
32:34 Q: Crypto market unwinding & how it relates to the money supply
35:57 Q: Current pre-seed / seed valuations & metrics
38:58 Q: When investing in early-stage SaaS companies, how to find outliers?
42:11 Q: What would you do if dropped in the middle of Kansas at age 25 with no resources?
44:46 Q: Where will the next disruptions in industrial automation come from & how will the US hit economies of scale in semiconductor manufacturing
47:02 Q: Any plans for All-In Media?
50:02 Q: US strategy in the Russia/Ukraine War
54:19 Q: How have your first impressions changed as you've matured in your career, and whose first impressions have stood out to you the most?
58:29 Q: Are you interested in crypto micropayments?
1:00:55 Q: Biggest mistakes of your career that you've learned the most from?
1:09:54 Q: What impact could tech have on political discourse? What does a viable path forward look like?
1:15:36 Q: Are remote / distributed startup systems viable coming out of the pandemic?
1:19:41 Q: Advice for non-technical people trying to get into the startup world?
1:24:44 Q: Thoughts on the potential consumer credit crisis?
1:26:17 Lightning round: What problem do you most want to solve right now? All-In consortium? Can SMBs democratize their own labor supply? How to get more investors interested in hardware? Will this be a relatively short recession?
Follow the besties:
https://twitter.com/chamath
https://linktr.ee/calacanis
https://twitter.com/DavidSacks
https://twitter.com/friedberg
Follow the pod:
https://twitter.com/theallinpod
https://linktr.ee/allinpodcast
Intro Music Credit:
https://rb.gy/tppkzl
https://twitter.com/yung_spielburg
Intro Video Credit:
https://twitter.com/TheZachEffect

This talk was recorded LIVE at the All-In Summit in Miami and included slides. To watch on YouTube, check out our All-In Summit playlist: https://bit.ly/aisytplaylist
0:00 Yung Spielburg intros the Besties + Besties give reactions to the All-In Summit
5:56 Miami Mayor Francis Suarez joins the Besties on stage to chat: Miami's emergence as a tech hub, his governing principles, crypto, what the future holds & more
Follow Mayor Suarez:
https://twitter.com/FrancisSuarez
Follow the besties:
https://twitter.com/chamath
https://linktr.ee/calacanis
https://twitter.com/DavidSacks
https://twitter.com/friedberg
Follow the pod:
https://twitter.com/theallinpod
https://linktr.ee/allinpodcast
Intro Music Credit:
https://rb.gy/tppkzl
https://twitter.com/yung_spielburg
Intro Video Credit:
https://twitter.com/TheZachEffect

This talk was recorded LIVE at the All-In Summit in Miami and included slides. To watch on YouTube, check out our All-In Summit playlist: https://bit.ly/aisytplaylist
0:00 Joe Lonsdale speaks about the problem with higher education and the importance of debate/truth-seeking
10:13 Bestie Q&A with Joe: Why Americans feel victimized, what happened in 1971, getting off the gold standard, school choice, starting UATX
Follow Joe:
https://twitter.com/JTLonsdale
Follow the besties:
https://twitter.com/chamath
https://linktr.ee/calacanis
https://twitter.com/DavidSacks
https://twitter.com/friedberg
Follow the pod:
https://twitter.com/theallinpod
https://linktr.ee/allinpodcast
Intro Music Credit:
https://rb.gy/tppkzl
https://twitter.com/yung_spielburg
Intro Video Credit:
https://twitter.com/TheZachEffect