Episode
#AIS: Bestie AMA with Valor's Antonio Gracias
1:39:00
Published: Tue Jun 07 2022
Description
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
Chapters
This podcast episode discusses the importance of understanding ROIC for industrial startups, which is crucial for valuating these businesses and competing against established companies like Boeing and Airbus in highly competitive markets.
00:00 - 28:19 (28:19)
Summary
This podcast episode discusses the importance of understanding ROIC for industrial startups, which is crucial for valuating these businesses and competing against established companies like Boeing and Airbus in highly competitive markets. The conversation between the hosts also covers the financialization of P&L and the impact on the decline of American manufacturing.
Episode#AIS: Bestie AMA with Valor's Antonio Gracias
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker discusses the founding experience and constant fear of losing investors' money.
28:19 - 32:37 (04:18)
Summary
The speaker discusses the founding experience and constant fear of losing investors' money.
Episode#AIS: Bestie AMA with Valor's Antonio Gracias
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
According to this podcast, Bitcoin is a bet on rising political risk and freedom, and is currently in a process of correcting.
32:37 - 36:36 (03:58)
Summary
According to this podcast, Bitcoin is a bet on rising political risk and freedom, and is currently in a process of correcting. The speaker also briefly discusses their experience buying cryptocurrency and asks about valuations and metrics for pre-seed and seed stage startups.
Episode#AIS: Bestie AMA with Valor's Antonio Gracias
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The future of SaaS businesses may not change significantly in the post-COVID world, and in order to maintain valuation, they will need to find ways of being applicable to larger bodies over time, except for productivity tools like Slack and Atlassian that have higher valuations.
36:36 - 42:17 (05:41)
Summary
The future of SaaS businesses may not change significantly in the post-COVID world, and in order to maintain valuation, they will need to find ways of being applicable to larger bodies over time, except for productivity tools like Slack and Atlassian that have higher valuations.
Episode#AIS: Bestie AMA with Valor's Antonio Gracias
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The US needs an industrial policy to encourage companies like Intel to bring chip manufacturing jobs back to the US and attract great engineering talent.
42:17 - 46:58 (04:40)
Summary
The US needs an industrial policy to encourage companies like Intel to bring chip manufacturing jobs back to the US and attract great engineering talent. Entrepreneurs will need funding to achieve this goal.
Episode#AIS: Bestie AMA with Valor's Antonio Gracias
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
In this episode, Chamath Palihapitiya discusses his idea for All In Media and a potential All In Media channel.
46:58 - 51:48 (04:50)
Summary
In this episode, Chamath Palihapitiya discusses his idea for All In Media and a potential All In Media channel. He also touches upon uncomfortable conversations society needs to have and the role of non-human entities in human interaction.
Episode#AIS: Bestie AMA with Valor's Antonio Gracias
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The host asked about how the guest's way of introducing himself to others has evolved over the years.
51:48 - 55:27 (03:39)
Summary
The host asked about how the guest's way of introducing himself to others has evolved over the years. The conversation also touched on the escalation of conflicts and the importance of preventing it from escalating into World War III.
Episode#AIS: Bestie AMA with Valor's Antonio Gracias
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The guest reflects on their younger self and wearing labels as a weapon to protect themselves from being labeled.
55:27 - 58:23 (02:55)
Summary
The guest reflects on their younger self and wearing labels as a weapon to protect themselves from being labeled. They discuss the monocultural aspect of Silicon Valley and feeling like an outsider in that environment.
Episode#AIS: Bestie AMA with Valor's Antonio Gracias
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
In this podcast episode, the speaker discusses some mistakes made in the past while investing in cryptocurrencies and emphasizes the importance of constantly improving one's skill set.
58:23 - 1:06:29 (08:05)
Summary
In this podcast episode, the speaker discusses some mistakes made in the past while investing in cryptocurrencies and emphasizes the importance of constantly improving one's skill set. They also touch on the potential of stable coins and the cognitive load of financial transactions.
Episode#AIS: Bestie AMA with Valor's Antonio Gracias
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker reflects on how believing in limitless success caused emotional challenges in their life, leading them to reassess what they enjoy and prioritize relationships to find joy.
1:06:29 - 1:10:13 (03:44)
Summary
The speaker reflects on how believing in limitless success caused emotional challenges in their life, leading them to reassess what they enjoy and prioritize relationships to find joy.
Episode#AIS: Bestie AMA with Valor's Antonio Gracias
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The podcast discusses the relationship between technological change and political disruption, providing context to the unsettling debates spurred by individuals like Glenn Greenwald and Antonio Garcia Martinez.
1:10:13 - 1:15:40 (05:26)
Summary
The podcast discusses the relationship between technological change and political disruption, providing context to the unsettling debates spurred by individuals like Glenn Greenwald and Antonio Garcia Martinez. Ultimately, the podcast suggests that while the changes we are experiencing are a slow march, we are making progress.
Episode#AIS: Bestie AMA with Valor's Antonio Gracias
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
While remote work can work for certain types of products, venture capital may not be one of them as it can hinder the ability to build strong relationships and have empathy for colleagues.
1:15:40 - 1:19:55 (04:15)
Summary
While remote work can work for certain types of products, venture capital may not be one of them as it can hinder the ability to build strong relationships and have empathy for colleagues.
Episode#AIS: Bestie AMA with Valor's Antonio Gracias
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Two stories of career transitions that highlight the importance of starting small and persevering, whether it’s working at Tesla, self-learning coding, or finding any way to get your foot in the door of a desired industry or company.
1:19:55 - 1:26:28 (06:33)
Summary
Two stories of career transitions that highlight the importance of starting small and persevering, whether it’s working at Tesla, self-learning coding, or finding any way to get your foot in the door of a desired industry or company.
Episode#AIS: Bestie AMA with Valor's Antonio Gracias
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Bio manufacturing has the potential to replace traditional food systems, including agriculture and animal agriculture, to recreate all the food on earth using a couple of square miles of infrastructure.
1:26:28 - 1:29:35 (03:06)
Summary
Bio manufacturing has the potential to replace traditional food systems, including agriculture and animal agriculture, to recreate all the food on earth using a couple of square miles of infrastructure. Implementing bio manufacturing could return billions of acres of land back to its natural form.
Episode#AIS: Bestie AMA with Valor's Antonio Gracias
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
In the current economic climate, businesses face challenges to secure capital to solve their supply and demand forecast problems.
1:29:35 - 1:33:21 (03:46)
Summary
In the current economic climate, businesses face challenges to secure capital to solve their supply and demand forecast problems. As a supporter of capitalism, the speaker believes that one of the biggest problems with capitalism is the allocation of money to the right problems.
Episode#AIS: Bestie AMA with Valor's Antonio Gracias
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The current economic climate has led to uncertainty and an emphasis on having a longer runway for startups, with investors recommending two and a half years of cushion to account for potential challenges.
1:33:21 - 1:37:56 (04:35)
Summary
The current economic climate has led to uncertainty and an emphasis on having a longer runway for startups, with investors recommending two and a half years of cushion to account for potential challenges. Whether the economic downturn will be a short-term or a long-term issue is still uncertain.
Episode#AIS: Bestie AMA with Valor's Antonio Gracias
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The hosts express gratitude towards the team and discuss their childhood hobbies, including programming and Star Wars costume-making.
1:37:56 - 1:38:54 (00:57)
Summary
The hosts express gratitude towards the team and discuss their childhood hobbies, including programming and Star Wars costume-making.