Episode
E87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more
1:24:58
Published: Thu Jul 14 2022
Description
0:00 Bestie intros! 1:41 Emerging markets, Sri Lanka break down 36:01 9.1% CPI print 48:15 Current market sentiments from retail and institutional investors 1:05:00 NASA's Webb telescope images 1:15:57 Beagle rescue, Biden admin's lack of private sector experience, Russia's new energy play BEAGLE RESCUE INFO: https://www.cnn.com/2022/07/12/us/beagles-virginia-facility-rescue/index.html https://www.nytimes.com/2022/07/12/us/envigo-beagles-breeder-adoption.html https://www.humanesociety.org/beaglerescue 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://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?end=2021&locations=VN-US-CN&start=1984&view=chart https://www.wsj.com/articles/rising-inflation-and-interest-rates-heap-pressure-on-emerging-markets-11655544600 https://www.cnn.com/asia/live-news/sri-lanka-protests-07-13-22-intl/index.html https://www.reuters.com/markets/europe/emerging-markets-drive-global-debt-record-303-trillion-iif-2022-02-23/ https://worldpopulationreview.com/countries/countries-by-gdp https://www.reuters.com/markets/commodities/fertiliser-ban-decimates-sri-lankan-crops-government-popularity-ebbs-2022-03-03 https://www.weforum.org/agenda/2016/02/what-next-for-sri-lanka/ https://www.nytimes.com/2021/12/07/world/asia/sri-lanka-organic-farming-fertilizer.html https://www.bloomberg.com/news/articles/2022-07-05/sri-lanka-aims-to-stop-money-printing-as-inflation-nears-60 https://twitter.com/chamath/status/561467714485514240 https://datareportal.com/reports/digital-2022-sri-lanka https://michaelshellenberger.substack.com/p/green-dogma-behind-fall-of-sri-lanka https://www.scmp.com/news/china/diplomacy/article/3134224/why-china-building-gleaming-new-government-facilities-africa https://www.scmp.com/news/china/diplomacy/article/2186970/how-presidential-palace-burundi-fits-chinas-plans-africa https://www.forbes.com/sites/rufaskamau/2022/07/11/inflation-protests-span-sri-lanka-albania-argentina-panama-kenya-ghanahow-long-before-they-hit-the-united-states/ https://tradingeconomics.com/united-states/inflation-cpi https://www.redfin.com/news/data-center/ https://fredblog.stlouisfed.org/2014/04/the-taylor-rule/ https://fred.stlouisfed.org/series/DGS10 https://www.nbcnews.com/data-graphics/compare-photos-nasas-james-webb-space-telescope-hubble-space-telescope-rcna37875 https://www.wsj.com/articles/nasa-james-webb-space-telescope-greg-robinson-images-11657137487 https://www.google.com/finance/quote/NOTV:NASDAQ https://www.wsj.com/articles/no-business-experience-needed-joe-biden-white-house-officials-committee-to-unleash-prosperity-report-11657661328
Chapters
Fieber and Jake discuss emerging markets with the dictator from his palace in Sri Lanka.
00:00 - 01:35 (01:35)
Summary
Fieber and Jake discuss emerging markets with the dictator from his palace in Sri Lanka.
EpisodeE87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
A lot of investors in the developing markets have stopped investing in emerging markets, moving their focus instead to the US, causing the price of emerging market debt to collapse.
01:35 - 08:29 (06:53)
Summary
A lot of investors in the developing markets have stopped investing in emerging markets, moving their focus instead to the US, causing the price of emerging market debt to collapse. The global debt market is currently valued at $300 trillion, and the current crisis could lead to a global financial crisis.
EpisodeE87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Embracing multiculturalism, promoting English as the lingua franca, investing in education and healthcare are important for a country's growth.
08:29 - 14:32 (06:02)
Summary
Embracing multiculturalism, promoting English as the lingua franca, investing in education and healthcare are important for a country's growth. However, corruption and graft can lead to deindustrialization and hinder progress.
EpisodeE87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
This podcast discusses the impact of Sri Lanka's massive loans from the World Bank and IMF, which are imposing ESG requirements, and how this is leading to food riots, energy insecurity, inflation, and sovereign defaults in other developing countries like Ghana and Pakistan.
14:32 - 19:42 (05:10)
Summary
This podcast discusses the impact of Sri Lanka's massive loans from the World Bank and IMF, which are imposing ESG requirements, and how this is leading to food riots, energy insecurity, inflation, and sovereign defaults in other developing countries like Ghana and Pakistan.
EpisodeE87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Despite offering guaranteed internet access to an entire country, there was infighting and accusations of license theft and monetization leading to delays in making the project a reality.
19:42 - 22:36 (02:53)
Summary
Despite offering guaranteed internet access to an entire country, there was infighting and accusations of license theft and monetization leading to delays in making the project a reality. The speaker expresses concern that many countries in similar situations may not learn from this experience.
EpisodeE87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The proposal is to remove executive power from the presidency and make it a parliamentary style system with an empowered prime minister and elected officials, deprioritize some defense spending, deprioritize the growth of the public sector and reprioritize the growth of the private sector.
22:36 - 27:44 (05:07)
Summary
The proposal is to remove executive power from the presidency and make it a parliamentary style system with an empowered prime minister and elected officials, deprioritize some defense spending, deprioritize the growth of the public sector and reprioritize the growth of the private sector. It is also an opportunity for people to reset writ large the gerontocracy that runs many of these countries, including the United States.
EpisodeE87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The world is facing increasing economic insecurity due to factors like food and energy insecurity, declining currency, rising debt burden and more.
27:44 - 32:20 (04:36)
Summary
The world is facing increasing economic insecurity due to factors like food and energy insecurity, declining currency, rising debt burden and more. Singapore has mitigated some of these risks by promoting public sector jobs while embracing cultural diversity.
EpisodeE87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The ongoing protests in Africa present a risk of destabilization and potential for radical militant groups to seize power.
32:20 - 36:28 (04:08)
Summary
The ongoing protests in Africa present a risk of destabilization and potential for radical militant groups to seize power. It's important to have a stable economy and build a great cash reserve in order for the good actors of the world to take advantage of these moments, rather than the bad ones.
EpisodeE87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
As inflation rates continue to exceed expectations, there is growing concern about the potential for interest rate hikes.
36:28 - 41:14 (04:46)
Summary
As inflation rates continue to exceed expectations, there is growing concern about the potential for interest rate hikes. Additionally, the year over year increase in energy costs is causing significant economic strain, harkening back to similar situations in the 70s and 80s.
EpisodeE87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker discusses the market trends and inflation, citing an example of measuring inflation on a year-over-year basis.
41:14 - 46:35 (05:20)
Summary
The speaker discusses the market trends and inflation, citing an example of measuring inflation on a year-over-year basis. The speaker also shares the takeaway from the CO2 conference where 2/3 of founders plan to accelerate their business despite the downturn.
EpisodeE87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The accuracy of company earnings is heavily relied upon in the stock market, but with the rise of automation and the potential for errors, it may be time for a reassessment of what the right earnings should be.
46:35 - 51:16 (04:40)
Summary
The accuracy of company earnings is heavily relied upon in the stock market, but with the rise of automation and the potential for errors, it may be time for a reassessment of what the right earnings should be.
EpisodeE87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The stock market is currently down half a point, but retail is still buying.
51:16 - 54:42 (03:25)
Summary
The stock market is currently down half a point, but retail is still buying. Hedge funds and retail are both waiting in the wings as the market fluctuates.
EpisodeE87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
After accepting uncertainty and high inflationary rates as the new norm, significant market participants are expected to start exploring new ventures and investments this quarter.
54:42 - 59:22 (04:39)
Summary
After accepting uncertainty and high inflationary rates as the new norm, significant market participants are expected to start exploring new ventures and investments this quarter.
EpisodeE87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Focus on finding a business that can compound value over time, regardless of market cycles, instead of trying to time the market.
59:22 - 1:03:05 (03:43)
Summary
Focus on finding a business that can compound value over time, regardless of market cycles, instead of trying to time the market.
EpisodeE87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
A group of investors, including family offices, Carlos Slim, and Royalty Pharma chairman Pablo LaGretta, has put half a billion dollars into advancing a business trying to provide a solution for chronic kidney disease through clinical trials.
1:03:05 - 1:07:42 (04:36)
Summary
A group of investors, including family offices, Carlos Slim, and Royalty Pharma chairman Pablo LaGretta, has put half a billion dollars into advancing a business trying to provide a solution for chronic kidney disease through clinical trials. The solution involves taking cells from a patient's kidney, growing and amplifying them, and re-injecting them into the patient to improve their EGFR.
EpisodeE87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The James Webb Telescope allows astrophysicists to better map out and study important phenomenon such as planet and star formation, understanding dark matter and dark energy, and finding other Earth-like planets.
1:07:42 - 1:12:11 (04:28)
Summary
The James Webb Telescope allows astrophysicists to better map out and study important phenomenon such as planet and star formation, understanding dark matter and dark energy, and finding other Earth-like planets.
EpisodeE87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
A 20-foot wide mirror has been built to capture the light and waves of gravity that have traveled for 4.6 billion years from around the universe, representing a new class of inquiry.
1:12:11 - 1:16:03 (03:52)
Summary
A 20-foot wide mirror has been built to capture the light and waves of gravity that have traveled for 4.6 billion years from around the universe, representing a new class of inquiry. This process of building the telescope has been going on for 20 years, with 10 years of intense work.
EpisodeE87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Beagle testing is a common practice for many companies, especially those in industries like pharmaceuticals or pesticides, but it is an unnecessary and cruel practice that needs to be eradicated.
1:16:03 - 1:19:21 (03:17)
Summary
Beagle testing is a common practice for many companies, especially those in industries like pharmaceuticals or pesticides, but it is an unnecessary and cruel practice that needs to be eradicated.
EpisodeE87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The podcast discusses the impact of economic factors such as inflation and energy security on foreign policy decisions, using Germany's reliance on Russian gas as an example.
1:19:21 - 1:23:40 (04:19)
Summary
The podcast discusses the impact of economic factors such as inflation and energy security on foreign policy decisions, using Germany's reliance on Russian gas as an example. It also touches on a study of top officials shaping the economy in the current administration.
EpisodeE87: Emerging markets, Sri Lanka, 9.1% CPI, market sentiment, NASA's Webb telescope & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The hosts share random, disjointed thoughts about saving whales, preparing dolphin sashimis, winning, and sexual tension.
1:23:40 - 1:24:51 (01:10)
Summary
The hosts share random, disjointed thoughts about saving whales, preparing dolphin sashimis, winning, and sexual tension.