Episode
E117: Did Stripe miss its window? Plus: VC market update, AI comes for SaaS, Trump's savvy move
1:31:32
Published: Fri Feb 24 2023
Description
(0:00) Bestie intro: Jason's Japan trip! (1:04) Stripe's precarious situation: Did it miss its window? Breaking down its $4B tax bill, slowing growth curve, enterprise vs SMB customers, scalability issues, and more (23:07) Lessons for founders: How ZIRP can skew CAC and LTV calculations, burn multiple (29:40) VC market update: ZIRP mistakes, VC as a "must-have" asset class for LPs, how the 2021 vintage can be saved (39:05) AI's outsized impact on SaaS and real-world businesses (55:16) Advice from Steve Jobs on customer-first product development, Section 230 update (1:00:29) Trump's savvy visit to East Palestine and 2024 strategy, Biden's visit to Ukraine, China's position (1:14:24) Tinfoil hat corner (1:23:25) Bestie wrap up! 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.theinformation.com/articles/inside-stripes-55-billion-pitch-to-investors https://www.theinformation.com/articles/the-private-tech-company-that-let-employee-stock-grants-evaporate https://techcrunch.com/2013/09/11/zuckerberg-says-he-was-too-afraid-of-taking-facebook-public https://sacks.substack.com/p/enterprises-vs-smbs-whos-the-better-customer-for-b2b-saas-startups-9a0d4efe69e9 https://sacks.substack.com/p/the-burn-multiple-51a7e43cb200 https://twitter.com/tylertringas/status/1627449217294958592 https://chamathreads.substack.com/p/higher-rates-will-lead-to-the-next https://twitter.com/Jason/status/1628851245644644352 https://signalvnoise.com/posts/3497-you-know-one-of-the-things-that-really-hurt https://www.scotusblog.com/2023/02/not-like-the-nine-greatest-experts-on-the-internet-justices-seem-leery-of-broad-ruling-on-section-230 https://www.whitehouse.gov/briefing-room/statements-releases/2023/02/20/on-the-record-press-call-by-senior-administration-officials-on-president-bidens-trip-to-ukraine https://www.washingtonpost.com/politics/2023/02/20/secrecy-security-biden-trip-to-kyiv https://www.yahoo.com/news/joe-biden-makes-surprise-visit-095627966.html https://twitter.com/nytimes/status/1626984889449959430 https://www.nytimes.com/interactive/2023/02/23/world/russia-ukraine-geopolitics.html https://www.bbc.com/news/world-europe-26079957 https://openai.com/blog/how-should-ai-systems-behave
Chapters
The hosts have a quick chat before discussing industry news, including the cost of RSUs and stock options and the trend of private companies staying private for too long.
00:00 - 01:25 (01:24)
Summary
The hosts have a quick chat before discussing industry news, including the cost of RSUs and stock options and the trend of private companies staying private for too long.
EpisodeE117: Did Stripe miss its window? Plus: VC market update, AI comes for SaaS, Trump's savvy move
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The podcast discusses the different strategies of Edge and Stripe; Edge going for the fat part of the long tail and Stripe targeting the long tail of customers.
01:24 - 14:39 (13:14)
Summary
The podcast discusses the different strategies of Edge and Stripe; Edge going for the fat part of the long tail and Stripe targeting the long tail of customers. It also talks about the leverage in the business and Stripe's challenges as it continues to grow.
EpisodeE117: Did Stripe miss its window? Plus: VC market update, AI comes for SaaS, Trump's savvy move
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
As a board member or investor, it is important to monitor business performance metrics, particularly those that relate to revenue or profit.
14:39 - 24:22 (09:42)
Summary
As a board member or investor, it is important to monitor business performance metrics, particularly those that relate to revenue or profit. When these metrics begin to shrink, it will result in a similarly diminishing valuation multiple, ultimately lowering the business's worth as a whole.
EpisodeE117: Did Stripe miss its window? Plus: VC market update, AI comes for SaaS, Trump's savvy move
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
In order to accurately assess the long-term growth potential of a business, it is important to focus on net profit and market deployment instead of just revenue or simplified gross profit numbers.
24:22 - 32:03 (07:40)
Summary
In order to accurately assess the long-term growth potential of a business, it is important to focus on net profit and market deployment instead of just revenue or simplified gross profit numbers. Additionally, businesses with high return rates may have lower margins and require a lot of capital to support operations and new infrastructure.
EpisodeE117: Did Stripe miss its window? Plus: VC market update, AI comes for SaaS, Trump's savvy move
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The venture capital industry is likely to have a low average return in 2021, with 80% of funds potentially having negative net returns.
32:03 - 39:41 (07:38)
Summary
The venture capital industry is likely to have a low average return in 2021, with 80% of funds potentially having negative net returns. High entry prices could hurt returns in the long run, but firms with a good track record or brand may still raise a significant amount of capital due to the asset class's perceived importance.
EpisodeE117: Did Stripe miss its window? Plus: VC market update, AI comes for SaaS, Trump's savvy move
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The implementation of AI in SAS products can add an unprecedented level of convenience and efficiency for both enterprise and individual consumers, making it a worthwhile investment for businesses.
39:41 - 47:13 (07:31)
Summary
The implementation of AI in SAS products can add an unprecedented level of convenience and efficiency for both enterprise and individual consumers, making it a worthwhile investment for businesses.
EpisodeE117: Did Stripe miss its window? Plus: VC market update, AI comes for SaaS, Trump's savvy move
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Although AI is rapidly transforming the job market, it will likely never completely replace human labor because it must perform 100% of a job function better than a human.
47:13 - 55:03 (07:50)
Summary
Although AI is rapidly transforming the job market, it will likely never completely replace human labor because it must perform 100% of a job function better than a human. However, AI can supplement and enhance human productivity while also delivering significant customer value, ideally capturing one-third of the value it delivers.
EpisodeE117: Did Stripe miss its window? Plus: VC market update, AI comes for SaaS, Trump's savvy move
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The hosts discuss the recent discussion regarding Section 230, exploring the opinions and thoughts of Supreme Court Justices and their overall understanding of the internet.
55:03 - 1:00:35 (05:31)
Summary
The hosts discuss the recent discussion regarding Section 230, exploring the opinions and thoughts of Supreme Court Justices and their overall understanding of the internet. They also briefly touch on Trump's decision to show up to a wedding with Big Macs and Water.
EpisodeE117: Did Stripe miss its window? Plus: VC market update, AI comes for SaaS, Trump's savvy move
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker discusses the current US political climate, including current priorities, past actions in international conflicts, and the role of the current US president.
1:00:35 - 1:06:13 (05:38)
Summary
The speaker discusses the current US political climate, including current priorities, past actions in international conflicts, and the role of the current US president.
EpisodeE117: Did Stripe miss its window? Plus: VC market update, AI comes for SaaS, Trump's savvy move
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The US administration has not provided a clear and achievable strategy for dealing with Russia without risking nuclear war while China's current domestic issues and reliance on cheap energy create uncertainty about their involvement in potential conflicts.
1:06:13 - 1:10:50 (04:37)
Summary
The US administration has not provided a clear and achievable strategy for dealing with Russia without risking nuclear war while China's current domestic issues and reliance on cheap energy create uncertainty about their involvement in potential conflicts.
EpisodeE117: Did Stripe miss its window? Plus: VC market update, AI comes for SaaS, Trump's savvy move
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker discusses the potential consequences of the current conflict with Iran and how it could affect the economy and the Trump administration.
1:10:50 - 1:16:11 (05:21)
Summary
The speaker discusses the potential consequences of the current conflict with Iran and how it could affect the economy and the Trump administration.
EpisodeE117: Did Stripe miss its window? Plus: VC market update, AI comes for SaaS, Trump's savvy move
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The podcast discusses the insurrection that occurred in Ukraine, which involved Ukrainian far-right nationalists as the muscle, and points out the involvement of Victoria Newland, who was mentioned by name.
1:16:11 - 1:18:22 (02:10)
Summary
The podcast discusses the insurrection that occurred in Ukraine, which involved Ukrainian far-right nationalists as the muscle, and points out the involvement of Victoria Newland, who was mentioned by name. There is also a critique on the military industrial complex and foreign policy establishment.
EpisodeE117: Did Stripe miss its window? Plus: VC market update, AI comes for SaaS, Trump's savvy move
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The upcoming debt fiasco in June may shift focus away from foreign adventurous policies, giving more priority to domestic issues.
1:18:22 - 1:26:45 (08:23)
Summary
The upcoming debt fiasco in June may shift focus away from foreign adventurous policies, giving more priority to domestic issues. Despite challenges in previous worse vintages, venture capitalists may be hesitant to use their management fees to invest in winning companies amidst the current market conditions.
EpisodeE117: Did Stripe miss its window? Plus: VC market update, AI comes for SaaS, Trump's savvy move
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker discusses the potential of Quora's chatbot and its ability to provide answers using their vast dataset, mentioning other platforms like Reddit and YouTube as well.
1:26:45 - 1:30:10 (03:24)
Summary
The speaker discusses the potential of Quora's chatbot and its ability to provide answers using their vast dataset, mentioning other platforms like Reddit and YouTube as well.
EpisodeE117: Did Stripe miss its window? Plus: VC market update, AI comes for SaaS, Trump's savvy move
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The host boasts about being the greatest moderator on the top podcast, and claims to have trained an AI to replace the AI summarization tool.
1:30:10 - 1:31:06 (00:55)
Summary
The host boasts about being the greatest moderator on the top podcast, and claims to have trained an AI to replace the AI summarization tool. The episode ends with nonsensical ramblings and references to gambling, open sourcing to fans, and orgies.