Episode
E83: Market slide continues, and how to address Uvalde
1:49:26
Published: Fri May 27 2022
Description
0:00 Bestie Guestie Brad Gerstner joins the show 1:00 All-In Summit recap and best moments 16:45 State of the markets, $ZM/$SNOW earnings, how much more uncertainty? 29:53 $SNAP drops after miscalculating earnings targets, understanding signs of a true bottom, the end of entitlement 51:10 Down market end game, investor decisions, reasons for optimism, quick reset potential 1:05:17 Sacks explains his concept for "default investable," Besties share thoughts on proactive layoffs and course correction 1:12:27 Addressing Uvalde, legislative disappointment, potential preventative solutions Follow the besties: https://twitter.com/chamath https://linktr.ee/calacanis https://twitter.com/DavidSacks https://twitter.com/friedberg https://twitter.com/altcap 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.google.com/finance/quote/SPY:NYSEARCA https://www.google.com/finance/quote/.DJI:INDEXDJX https://investors.zoom.us/news-releases/news-release-details/zoom-video-communications-reports-financial-results-first https://investors.snowflake.com/news/news-details/2022/Snowflake-Reports-Financial-Results-for-the-First-Quarter-of-Fiscal-2023/default.aspx https://fred.stlouisfed.org/series/T10YIE https://twitter.com/zerohedge/status/1529100065331200005 https://twitter.com/BillAckman/status/1529133144540078083 https://layoffs.fyi https://www.google.com/finance/quote/SNAP:NYSE https://www.cnbc.com/2022/05/24/snaps-down-32percent-and-its-dragging-other-stocks-down-with-it.html https://www.google.com/finance/quote/FB:NASDAQ https://www.google.com/finance/quote/GOOG:NASDAQ https://nypost.com/2022/05/13/netflix-tells-woke-workers-to-quit-if-they-are-offended-culture-memo https://twitter.com/JeffBezos/status/1525309091970699265 https://twitter.com/DavidSacks/status/1529119829080150016 https://twitter.com/DavidSacks/status/1528102541723979776 https://sacks.substack.com/p/the-burn-multiple-51a7e43cb200 https://elections.bradyunited.org/take-action/nra-donations-116th-congress-senators https://en.wikipedia.org/wiki/Mass_shootings_in_the_United_States#/media/File:Total_Deaths_in_US_Mass_Shootings_1982-2021.jpg https://twitter.com/Jason/status/1529843255176663040 https://www.nytimes.com/interactive/2020/04/01/business/coronavirus-gun-sales.html https://twitter.com/Jason/status/1529504198974263296
Chapters
The host welcomes Trimof back for his fifth appearance on the podcast, and they discuss his favorite on-stage and off-stage moments.
00:00 - 01:55 (01:55)
Summary
The host welcomes Trimof back for his fifth appearance on the podcast, and they discuss his favorite on-stage and off-stage moments. The host mentions being nervous because his mom was attending the event.
EpisodeE83: Market slide continues, and how to address Uvalde
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The transcript discusses how some influential people in Silicon Valley have handled the pandemic, along with stories of parties being thrown despite the circumstances.
01:55 - 06:38 (04:43)
Summary
The transcript discusses how some influential people in Silicon Valley have handled the pandemic, along with stories of parties being thrown despite the circumstances.
EpisodeE83: Market slide continues, and how to address Uvalde
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The podcast host and his team discuss their efforts to build an authentic community and diversity by curating their audience through asking attendees to pay based on their station in life and excluding those in certain professions like real estate brokers and money managers.
06:38 - 12:45 (06:06)
Summary
The podcast host and his team discuss their efforts to build an authentic community and diversity by curating their audience through asking attendees to pay based on their station in life and excluding those in certain professions like real estate brokers and money managers.
EpisodeE83: Market slide continues, and how to address Uvalde
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker reflects on hosting a successful conference with solo talks, discussions, and speaker transitions that need more refinement.
12:45 - 15:48 (03:03)
Summary
The speaker reflects on hosting a successful conference with solo talks, discussions, and speaker transitions that need more refinement.
EpisodeE83: Market slide continues, and how to address Uvalde
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Snowflake reported a 12% year over year revenue growth in Q1 2023 with an 80% gross margin.
15:48 - 19:06 (03:17)
Summary
Snowflake reported a 12% year over year revenue growth in Q1 2023 with an 80% gross margin. Zoom also reported strong results with a $31 billion market cap and almost $6 billion in cash.
EpisodeE83: Market slide continues, and how to address Uvalde
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The podcast delves into the recent drop in the 10-year break, indicating lower predicted inflation rates in the back half of the year.
19:06 - 26:12 (07:06)
Summary
The podcast delves into the recent drop in the 10-year break, indicating lower predicted inflation rates in the back half of the year. They also discuss the impact of rising rates on mortgage rates, which have surpassed 5% in the last two weeks.
EpisodeE83: Market slide continues, and how to address Uvalde
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
COVID-19 pandemic has caused companies to cancel SaaS contracts, implement hiring freezes, and lay off employees.
26:12 - 35:35 (09:22)
Summary
COVID-19 pandemic has caused companies to cancel SaaS contracts, implement hiring freezes, and lay off employees. The earnings of companies are at risk due to the contagion effect of the pandemic, which is exacerbating the economic downturn experienced in past recessions.
EpisodeE83: Market slide continues, and how to address Uvalde
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Investors may no longer tolerate misallocations of capital to support poorly marked portfolios, demanding portfolio rehabilitation instead.
35:35 - 40:08 (04:33)
Summary
Investors may no longer tolerate misallocations of capital to support poorly marked portfolios, demanding portfolio rehabilitation instead. Deferred mortality risk becomes a valuable concept for startups to consider to overcome the effects of a high graduation rate during previous boom times.
EpisodeE83: Market slide continues, and how to address Uvalde
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Free cash flow has become a key focus for companies in Silicon Valley, with the conversation in boardrooms revolving around whether to give more stock to employees.
40:08 - 46:10 (06:01)
Summary
Free cash flow has become a key focus for companies in Silicon Valley, with the conversation in boardrooms revolving around whether to give more stock to employees. This shift in focus towards free cash flow is a response to the wider economic downturn caused by the pandemic.
EpisodeE83: Market slide continues, and how to address Uvalde
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The economic business model in Silicon Valley enables poor governance and irresponsible decision-making, which will lead to some individuals running into a brick wall because they refuse to make tough decisions.
46:10 - 55:52 (09:41)
Summary
The economic business model in Silicon Valley enables poor governance and irresponsible decision-making, which will lead to some individuals running into a brick wall because they refuse to make tough decisions. While there is a debate about supply-side economics, the ability to produce desired goods and services ultimately determines wealth.
EpisodeE83: Market slide continues, and how to address Uvalde
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The venture market will see a 6 to 12 month lag in terms of resetting and there will be many good companies with terrible capital structures, bad valuations, and overhangs of preference stock that will have to be sorted out once valuations reset.
55:52 - 1:04:55 (09:03)
Summary
The venture market will see a 6 to 12 month lag in terms of resetting and there will be many good companies with terrible capital structures, bad valuations, and overhangs of preference stock that will have to be sorted out once valuations reset.
EpisodeE83: Market slide continues, and how to address Uvalde
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
To raise money in this environment, you need at least three or four great metrics and none that are dangerous.
1:04:55 - 1:09:23 (04:28)
Summary
To raise money in this environment, you need at least three or four great metrics and none that are dangerous. Companies that made great returns in moments of true dislocation, like Apollo or Blackstone, were the barbarians at the gates.
EpisodeE83: Market slide continues, and how to address Uvalde
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
A discussion on the issues with venture capitalism and the need for venture capitalists to re-evaluate their approach to investing - focusing on operating efficiently rather than just popularity.
1:09:24 - 1:14:00 (04:35)
Summary
A discussion on the issues with venture capitalism and the need for venture capitalists to re-evaluate their approach to investing - focusing on operating efficiently rather than just popularity. The conversation also delves into abortion statistics in the US, as well as the importance for individuals to take their career seriously.
EpisodeE83: Market slide continues, and how to address Uvalde
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The discussion revolves around the red flag laws and assault weapon bans that have been brought up from time to time.
1:14:00 - 1:21:54 (07:54)
Summary
The discussion revolves around the red flag laws and assault weapon bans that have been brought up from time to time. Republicans have in the past spoken for banning assault weapons post the assassination attempt of Ronald Reagan but now are being put to question for accepting donations to the tune of millions from the National Rifle Association.
EpisodeE83: Market slide continues, and how to address Uvalde
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The implementation of red flag laws, specifically regarding the profile Young male school shooters have developed, could potentially help prevent acts of violence with guns from occurring.
1:21:54 - 1:28:01 (06:07)
Summary
The implementation of red flag laws, specifically regarding the profile Young male school shooters have developed, could potentially help prevent acts of violence with guns from occurring.
EpisodeE83: Market slide continues, and how to address Uvalde
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Jason Calacanis proposes evaluating gun ownership on a case-by-case basis, with individuals applying for insurance based on risk factors like age and location, and with mandatory training classes that can help to identify red flags for potential gun violence.
1:28:01 - 1:33:19 (05:17)
Summary
Jason Calacanis proposes evaluating gun ownership on a case-by-case basis, with individuals applying for insurance based on risk factors like age and location, and with mandatory training classes that can help to identify red flags for potential gun violence.
EpisodeE83: Market slide continues, and how to address Uvalde
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker discusses a proposal for guidance counselors to ask high school students anonymously if they know anyone in their class who may need help.
1:33:19 - 1:38:53 (05:33)
Summary
The speaker discusses a proposal for guidance counselors to ask high school students anonymously if they know anyone in their class who may need help. The speaker recommends that until a program like this is implemented, parents should take action to teach kids about warning signs of their fellow classmates who may need help.
EpisodeE83: Market slide continues, and how to address Uvalde
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The need to address precursors that lead to gun-related crimes and teach individuals on how to think about the issue.
1:38:53 - 1:44:09 (05:16)
Summary
The need to address precursors that lead to gun-related crimes and teach individuals on how to think about the issue. A case is mentioned that highlights the impact of releasing criminals who have gun charges against them.
EpisodeE83: Market slide continues, and how to address Uvalde
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
In this podcast, the speaker proposes using common sense and identifying those in need of help to prevent them from buying assault weapons.
1:44:09 - 1:48:28 (04:18)
Summary
In this podcast, the speaker proposes using common sense and identifying those in need of help to prevent them from buying assault weapons. Additionally, he suggests teaching children how to raise their hand for help before needing to learn how to hide.
EpisodeE83: Market slide continues, and how to address Uvalde
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The All In Summit videos are now available to watch, and Freeberg and the Hammer Lucky Explosive episode will be back next week.
1:48:28 - 1:49:31 (01:03)
Summary
The All In Summit videos are now available to watch, and Freeberg and the Hammer Lucky Explosive episode will be back next week. The host also briefly mentions "getting merch."