Episode
E49: Coinbase CEO reflects on controversial blog, state of the markets, 1000 unicorns, tax reform & more
1:29:00
Published: Sat Oct 02 2021
Description
Show Notes: 0:00 Brian Armstrong follows up on his one-year old blog post "Coinbase is a mission focused company" 19:27 Authoritarianism on the left 33:04 Newsom's new vaccine mandate, NBA vaccine coverage, Merck COVID pill 45:51 Golden Age of VC, 1000 unicorns & the impact on private/public markets 57:45 Corporate tax reform, Roth IRAs & the "Peter Thiel Provision" 1:06:36 Chances of a VC bubble, why notable VCs are retiring, building a modern venture firm 1:23:51 All-In summit planning 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://blog.coinbase.com/coinbase-is-a-mission-focused-company-af882df8804 https://twitter.com/brian_armstrong/status/1443727729476530178 https://blockchain.news/news/workers-quit-coinbase-exchange-apolitical-stance https://twitter.com/DavidSacks/status/1443846265582735362 https://www.theatlantic.com/ideas/archive/2021/09/psychological-dimensions-left-wing-authoritarianism/620185/ https://ktla.com/news/california/gov-newsom-to-make-major-announcement-on-efforts-to-protect-teachers-students-from-covid/ https://www.cnbc.com/2021/10/01/merck-to-seek-emergency-authorization-for-oral-covid-19-treatment.html https://www.wsj.com/articles/university-endowments-mint-billions-in-golden-era-of-venture-capital-11632907802 https://news.crunchbase.com/news/crunchbase-unicorn-board-1000-companies/ https://siblisresearch.com/data/us-stock-market-value/ https://www.marketwatch.com/story/the-number-of-companies-publicly-traded-in-the-us-is-shrinkingor-is-it-2020-10-30 https://www.cnbc.com/2021/09/17/house-tax-bill-would-likely-force-peter-thiel-to-pull-5-billion-from-his-ira.html
Chapters
The conversation topics range from a problematic dog to decentralized social networks and how they work in terms of meaningful recommendations.
00:00 - 02:56 (02:56)
Summary
The conversation topics range from a problematic dog to decentralized social networks and how they work in terms of meaningful recommendations.
EpisodeE49: Coinbase CEO reflects on controversial blog, state of the markets, 1000 unicorns, tax reform & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The host of the podcast reveals an interview with Balaji on "Purple Pills," where he occasionally interviews people on a call-in basis.
02:56 - 08:22 (05:25)
Summary
The host of the podcast reveals an interview with Balaji on "Purple Pills," where he occasionally interviews people on a call-in basis. They also briefly mention a political DMZ in the workplace and the number of people who left as a result of a blog post.
EpisodeE49: Coinbase CEO reflects on controversial blog, state of the markets, 1000 unicorns, tax reform & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Organizations such as Ray Dalio's Bridgewater Associates prioritize cultural fit through screening applicants before and after hiring.
08:22 - 14:38 (06:16)
Summary
Organizations such as Ray Dalio's Bridgewater Associates prioritize cultural fit through screening applicants before and after hiring. Businesses that prioritize long-term success often define their culture and minimize losses rather than maximizing immediate gains.
EpisodeE49: Coinbase CEO reflects on controversial blog, state of the markets, 1000 unicorns, tax reform & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Academia has mostly focused on right-wing authoritarianism, leading to the neglect of left-wing authoritarianism.
14:38 - 22:17 (07:39)
Summary
Academia has mostly focused on right-wing authoritarianism, leading to the neglect of left-wing authoritarianism. However, recent research shows that both exist and are significant.
EpisodeE49: Coinbase CEO reflects on controversial blog, state of the markets, 1000 unicorns, tax reform & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Authoritarianism can arise regardless of political ideology as it can offer a path to security when citizens feel insecure, such as during economic hardships.
22:17 - 29:27 (07:09)
Summary
Authoritarianism can arise regardless of political ideology as it can offer a path to security when citizens feel insecure, such as during economic hardships. While the focus is often on right-wing authoritarianism, left-wing versions can also emerge.
EpisodeE49: Coinbase CEO reflects on controversial blog, state of the markets, 1000 unicorns, tax reform & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Comedian Bill Burr talks about extremism on both sides and how aggression and punitiveness towards perceived enemies make them look the same.
29:27 - 35:58 (06:31)
Summary
Comedian Bill Burr talks about extremism on both sides and how aggression and punitiveness towards perceived enemies make them look the same. He also mentions getting his body of work back from Comedy Central, and reflects on the vaccine debate.
EpisodeE49: Coinbase CEO reflects on controversial blog, state of the markets, 1000 unicorns, tax reform & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The Malnupiravir study found that none of the group that had taken the pill died, unlike those who were given a placebo, leading to discussions of vaccine mandates in the NBA and allowing businesses to mandate vaccines.
35:58 - 42:36 (06:38)
Summary
The Malnupiravir study found that none of the group that had taken the pill died, unlike those who were given a placebo, leading to discussions of vaccine mandates in the NBA and allowing businesses to mandate vaccines. Several high-profile NBA players are currently choosing to sit out their home games due to vaccine requirements in New York and California.
EpisodeE49: Coinbase CEO reflects on controversial blog, state of the markets, 1000 unicorns, tax reform & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The potential emergency use authorization of the COVID-19 vaccine and the proposed massive spending plans by the US government may cause a significant impact on the stock market.
42:36 - 49:26 (06:49)
Summary
The potential emergency use authorization of the COVID-19 vaccine and the proposed massive spending plans by the US government may cause a significant impact on the stock market. The increase in inflation due to government spending may hurt the tech industry, leading to a decrease in future investment opportunities.
EpisodeE49: Coinbase CEO reflects on controversial blog, state of the markets, 1000 unicorns, tax reform & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Private tech companies currently make up about 8-10% of the world's market cap of all public companies, but have the potential to become worth more than the $46 trillion market cap of all public companies in the next 20-30 years.
49:26 - 54:30 (05:03)
Summary
Private tech companies currently make up about 8-10% of the world's market cap of all public companies, but have the potential to become worth more than the $46 trillion market cap of all public companies in the next 20-30 years. While some may worry about the concentration of wealth among specific individuals, the growth of these companies will ultimately benefit society as a whole.
EpisodeE49: Coinbase CEO reflects on controversial blog, state of the markets, 1000 unicorns, tax reform & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The reconciliation bill aims to disallow retirement funds to invest in alternative assets, such as startups and venture capital funds.
54:30 - 1:00:12 (05:42)
Summary
The reconciliation bill aims to disallow retirement funds to invest in alternative assets, such as startups and venture capital funds. Instead, public pension funds, endowments, and retirement funds should be allowed access to venture capital so that investments can be made earlier and redistributed to a broader population through sensible tax policies.
EpisodeE49: Coinbase CEO reflects on controversial blog, state of the markets, 1000 unicorns, tax reform & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The podcast discusses the importance of making financial literacy accessible to everyone and allowing regular Americans to invest in private companies like accredited investors.
1:00:12 - 1:06:38 (06:25)
Summary
The podcast discusses the importance of making financial literacy accessible to everyone and allowing regular Americans to invest in private companies like accredited investors. They propose creating sensible ways of managing investments and creating indexes against them.
EpisodeE49: Coinbase CEO reflects on controversial blog, state of the markets, 1000 unicorns, tax reform & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Venture Capital has become a fundamental part of the economy and companies with superior products and nimble organizations that replace legacy incumbents will continue to do well.
1:06:38 - 1:11:03 (04:24)
Summary
Venture Capital has become a fundamental part of the economy and companies with superior products and nimble organizations that replace legacy incumbents will continue to do well.
EpisodeE49: Coinbase CEO reflects on controversial blog, state of the markets, 1000 unicorns, tax reform & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker talks about the importance of a "teach them how to fish" model in building a firm, where experts in each functional area are brought on board instead of hiring 200 people.
1:11:03 - 1:14:12 (03:09)
Summary
The speaker talks about the importance of a "teach them how to fish" model in building a firm, where experts in each functional area are brought on board instead of hiring 200 people. This helps in accessing experts and building partnerships for growth.
EpisodeE49: Coinbase CEO reflects on controversial blog, state of the markets, 1000 unicorns, tax reform & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The debate over taxing the rich is a stalemate with arguments for and against, though some agree that taxation should occur when companies have matured and are profitable.
1:14:12 - 1:22:59 (08:46)
Summary
The debate over taxing the rich is a stalemate with arguments for and against, though some agree that taxation should occur when companies have matured and are profitable. Critics claim that these businesses destroy the old economy and eliminate jobs.
EpisodeE49: Coinbase CEO reflects on controversial blog, state of the markets, 1000 unicorns, tax reform & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
This podcast discusses the negative perception of tech industry conferences and the announcement of a new Summit event in Miami with 250 tickets available, including 50 scholarship tickets.
1:22:59 - 1:25:25 (02:26)
Summary
This podcast discusses the negative perception of tech industry conferences and the announcement of a new Summit event in Miami with 250 tickets available, including 50 scholarship tickets.
EpisodeE49: Coinbase CEO reflects on controversial blog, state of the markets, 1000 unicorns, tax reform & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker talks about planning for a conference, including estimating the number of attendees and budgeting for food and beverage expenses, specifically a large wine budget.
1:25:25 - 1:28:08 (02:43)
Summary
The speaker talks about planning for a conference, including estimating the number of attendees and budgeting for food and beverage expenses, specifically a large wine budget.
EpisodeE49: Coinbase CEO reflects on controversial blog, state of the markets, 1000 unicorns, tax reform & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
A chaotic and explicit conversation that mentions sexual innuendos and discusses the possibility of creating merch for their audience.
1:28:08 - 1:28:52 (00:43)
Summary
A chaotic and explicit conversation that mentions sexual innuendos and discusses the possibility of creating merch for their audience.