Episode
E43: Innovative venture strategies, Zymergen's implosion, Square acquires Afterpay, future of fintech & more
1:31:11
Published: Fri Aug 06 2021
Description
Show Notes: 0:00 Big week for the besties: Friedberg's new raise, Sacks' new fund & more 16:30 Innovative venture strategies: internal mark ups, venture studios, deployment strategies 30:44 Zymergen's implosion: role of diligence, how to make deep tech sustainable, finding frauds 43:26 How personal risk impacts decision making on a grand scale, narratives and fundraising 59:12 Chamath & Jason share Theranos stories, Jason calling out frauds 1:07:36 Financial deplatforming, Square acquires Afterpay, Square's savvy move, fintech's future, Jack Dorsey's unique position of power 1:28:05 New Yung Spielburg banger: "Friedberg Index" 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: CNBC - Early Google exec got Larry Page’s backing to build a start-up factory focused on saving the planet https://www.cnbc.com/2021/07/30/david-friedbergs-alphabet-backed-production-board-raised-300-million.html Medium - Announcing Craft III: $1.1 Billion for SaaS and Marketplaces https://medium.com/craft-ventures/announcing-craft-iii-1-1-billion-for-saas-and-marketplaces-c3c34448db17 CNBC - Synthetic biology company Zymergen plunges 68% after saying product revenue will be ‘immaterial’ in 2022, removing CEO https://www.cnbc.com/2021/08/03/zymergen-zy-plunges-68percent-on-forecast-for-immaterial-revenue-in-2022.html Zymergen - Zymergen Provides Business Update https://www.globenewswire.com/news-release/2021/08/03/2274125/0/en/Zymergen-Provides-Business-Update.html Reuters - U.S. charges Nikola founder Trevor Milton with lying to investors https://www.reuters.com/business/autos-transportation/us-charges-nikola-founder-trevor-milton-with-lying-investors-2021-07-29 CNBC - Square to buy Australia’s Afterpay in $29 billion deal as ‘buy now, pay later’ trend takes off https://www.cnbc.com/2021/08/02/square-to-buy-australia-fintech-afterpay-amid-buy-now-pay-later-trend.html
Chapters
A man describes an encounter with someone at his beach club who was overly covered in SPF and technology, and made him take off his shoes and socks to go on a walk.
00:00 - 01:05 (01:05)
Summary
A man describes an encounter with someone at his beach club who was overly covered in SPF and technology, and made him take off his shoes and socks to go on a walk.
EpisodeE43: Innovative venture strategies, Zymergen's implosion, Square acquires Afterpay, future of fintech & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Queen's production board raised a large round of funding, which she announced last week.
01:05 - 04:14 (03:08)
Summary
Queen's production board raised a large round of funding, which she announced last week. She also took a week off from listening to the All In podcast in the hopes of boosting its ratings.
EpisodeE43: Innovative venture strategies, Zymergen's implosion, Square acquires Afterpay, future of fintech & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker describes the intent of a holding company, which is to create a permanent organization with a balance sheet holding cash that can push people towards content and make them aware of the work being done at the production board.
04:14 - 07:14 (03:00)
Summary
The speaker describes the intent of a holding company, which is to create a permanent organization with a balance sheet holding cash that can push people towards content and make them aware of the work being done at the production board.
EpisodeE43: Innovative venture strategies, Zymergen's implosion, Square acquires Afterpay, future of fintech & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The concept of Venture Studios means different things to different investors.
07:14 - 11:41 (04:27)
Summary
The concept of Venture Studios means different things to different investors. Investing in a Venture Studio requires finding an execution capability that stands out among a crowded market, especially when investing large sums of money.
EpisodeE43: Innovative venture strategies, Zymergen's implosion, Square acquires Afterpay, future of fintech & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Chamath Palihapitiya and Jason Calacanis discuss the success of Jason's syndicate investment in Kraft's third fund, which is focused on marketplaces and SaaS.
11:41 - 16:11 (04:30)
Summary
Chamath Palihapitiya and Jason Calacanis discuss the success of Jason's syndicate investment in Kraft's third fund, which is focused on marketplaces and SaaS. The syndicate gained 900 investment requests and over $7 million in total investments.
EpisodeE43: Innovative venture strategies, Zymergen's implosion, Square acquires Afterpay, future of fintech & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The investment strategies in private equity differ significantly from tech investing.
16:11 - 20:51 (04:39)
Summary
The investment strategies in private equity differ significantly from tech investing. While big players are favored in private equity investment, tech investors aim to fund emerging managers and predict fund renewal dates in a systematic way to handle a surge in capital flow.
EpisodeE43: Innovative venture strategies, Zymergen's implosion, Square acquires Afterpay, future of fintech & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Chamath Palihapitiya shares his unique approach to venture capital, which involves enabling startups and taking a 1% sign of the thing, without necessarily aiming to compound capital.
20:51 - 27:37 (06:45)
Summary
Chamath Palihapitiya shares his unique approach to venture capital, which involves enabling startups and taking a 1% sign of the thing, without necessarily aiming to compound capital. He also discusses the importance of board diversity and having different investors with different viewpoints in the governance of startups.
EpisodeE43: Innovative venture strategies, Zymergen's implosion, Square acquires Afterpay, future of fintech & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The founders of Snowflake discuss their roles as product people and the growth of venture capital in the tech industry.
27:37 - 32:10 (04:32)
Summary
The founders of Snowflake discuss their roles as product people and the growth of venture capital in the tech industry. They also briefly mention Ximergen, a topic they plan to discuss further.
EpisodeE43: Innovative venture strategies, Zymergen's implosion, Square acquires Afterpay, future of fintech & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Deep tech startups such as synthetic biology platform companies face challenges when they promise future capabilities and raise millions of dollars in funding.
32:10 - 37:27 (05:17)
Summary
Deep tech startups such as synthetic biology platform companies face challenges when they promise future capabilities and raise millions of dollars in funding. Zymogen, like others, pivoted to becoming a products company to sustain their growth.
EpisodeE43: Innovative venture strategies, Zymergen's implosion, Square acquires Afterpay, future of fintech & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Investors engaged in milestone-based investing scale the amount of money and valuation provided to startups with the amount of proof delivered about the company.
37:27 - 44:42 (07:15)
Summary
Investors engaged in milestone-based investing scale the amount of money and valuation provided to startups with the amount of proof delivered about the company. In deep tech, incremental progress is key as investors become more excited with proof of concept.
EpisodeE43: Innovative venture strategies, Zymergen's implosion, Square acquires Afterpay, future of fintech & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The importance of tracking core SaaS metrics and assessing a company's business metrics when making investment decisions is discussed, using the example of WeWork and Nikola.
44:42 - 48:35 (03:52)
Summary
The importance of tracking core SaaS metrics and assessing a company's business metrics when making investment decisions is discussed, using the example of WeWork and Nikola.
EpisodeE43: Innovative venture strategies, Zymergen's implosion, Square acquires Afterpay, future of fintech & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The risk of blindly believing in a compelling narrative from a business, governmental or religious leader, without doing due diligence, increasing the risk of falling for frauds like that of Nikola.
48:35 - 52:25 (03:49)
Summary
The risk of blindly believing in a compelling narrative from a business, governmental or religious leader, without doing due diligence, increasing the risk of falling for frauds like that of Nikola.
EpisodeE43: Innovative venture strategies, Zymergen's implosion, Square acquires Afterpay, future of fintech & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Employees who exercise their stock options in private companies should be cautious and conduct thorough diligence before buying the stock, as the company's actual value may not match expectations when it goes public.
52:25 - 59:04 (06:39)
Summary
Employees who exercise their stock options in private companies should be cautious and conduct thorough diligence before buying the stock, as the company's actual value may not match expectations when it goes public.
EpisodeE43: Innovative venture strategies, Zymergen's implosion, Square acquires Afterpay, future of fintech & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker shares their experience burning through millions on multiple startups, as well as discussing the challenges that arise when a CEO and the CEO are in a relationship.
59:04 - 1:03:29 (04:25)
Summary
The speaker shares their experience burning through millions on multiple startups, as well as discussing the challenges that arise when a CEO and the CEO are in a relationship.
EpisodeE43: Innovative venture strategies, Zymergen's implosion, Square acquires Afterpay, future of fintech & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The unregulated nature of Tether, with owners spread across offshore accounts, poses a significant risk to crypto stability, and the inability to stress test the system further heightens this uncertainty.
1:03:29 - 1:07:13 (03:43)
Summary
The unregulated nature of Tether, with owners spread across offshore accounts, poses a significant risk to crypto stability, and the inability to stress test the system further heightens this uncertainty.
EpisodeE43: Innovative venture strategies, Zymergen's implosion, Square acquires Afterpay, future of fintech & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Big tech companies are collaborating with the Anti-Defamation League and the Southern Poverty Law Center to create lists of individuals and groups to ban from their platforms, potentially infringing on their right to free speech and livelihoods.
1:07:13 - 1:11:55 (04:42)
Summary
Big tech companies are collaborating with the Anti-Defamation League and the Southern Poverty Law Center to create lists of individuals and groups to ban from their platforms, potentially infringing on their right to free speech and livelihoods.
EpisodeE43: Innovative venture strategies, Zymergen's implosion, Square acquires Afterpay, future of fintech & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The consolidation of categories by digital financial services providers will change the unit economics and offer a consolidated stack of services, with the focus on getting high retention products to be cheap and free, which will benefit both consumers and businesses.
1:11:55 - 1:19:30 (07:35)
Summary
The consolidation of categories by digital financial services providers will change the unit economics and offer a consolidated stack of services, with the focus on getting high retention products to be cheap and free, which will benefit both consumers and businesses.
EpisodeE43: Innovative venture strategies, Zymergen's implosion, Square acquires Afterpay, future of fintech & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Huge online players like Square, Stripe, and PayPal will be the big winners at the end of the Finance consolidation while legacy banks will lose out, similar to what happened in the media industry, as the digital and analog worlds converge.
1:19:30 - 1:25:37 (06:06)
Summary
Huge online players like Square, Stripe, and PayPal will be the big winners at the end of the Finance consolidation while legacy banks will lose out, similar to what happened in the media industry, as the digital and analog worlds converge. However, the moralistic behavior of big tech when it comes to deplatforming people may become an issue in the future.
EpisodeE43: Innovative venture strategies, Zymergen's implosion, Square acquires Afterpay, future of fintech & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The text is a random collection of phrases and sentences that do not form a coherent topic.
1:25:37 - 1:28:24 (02:47)
Summary
The text is a random collection of phrases and sentences that do not form a coherent topic.
EpisodeE43: Innovative venture strategies, Zymergen's implosion, Square acquires Afterpay, future of fintech & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg