Episode
E94: NFT volume plummets, California's overreach, FBI meddling, climate change & national security
1:23:02
Published: Thu Sep 01 2022
Description
(0:00) Bestie intros + Burning Man debate (4:16) NFT trading volume plummets (10:20) California's new fast food wages bill, government creating bad incentives, how the free market response will further the labor issue (40:15) Zuckerberg on Rogan, FBI interference with the Hunter Biden laptop story (52:00) Balancing fighting climate change without harming the economy or national security, EU energy policy failure (1:06:04) Besties reflect on Mikhail Gorbachev's passing 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://cointelegraph.com/news/looks-bare-opensea-turns-into-nft-ghost-town-after-volume-plunges-99-in-90-days https://www.youtube.com/watch?v=XlXSGqvP-A8 https://thefederalist.com/2022/08/30/zuckerbergs-admission-of-fbi-meddling-in-2020-election-is-even-bigger-than-it-seems/ https://www.nytimes.com/2022/08/23/us/california-nuclear-power-diablo.html https://www.wsj.com/articles/california-fast-food-wages-would-be-set-by-government-under-bill-passed-by-state-senate-11661811509
Chapters
In this unprepared episode, hosts David Sacks and Chamath Palihapitiya have a casual conversation with no particular topic.
00:00 - 01:00 (01:00)
Summary
In this unprepared episode, hosts David Sacks and Chamath Palihapitiya have a casual conversation with no particular topic. They discuss Burning Man and whether they have attended the annual event.
EpisodeE94: NFT volume plummets, California's overreach, FBI meddling, climate change & national security
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker reflects on their experience living in a communal setting with access to art and music festivals, pushing back against stereotypes of intellectual superiority associated with this lifestyle.
01:01 - 03:19 (02:18)
Summary
The speaker reflects on their experience living in a communal setting with access to art and music festivals, pushing back against stereotypes of intellectual superiority associated with this lifestyle.
EpisodeE94: NFT volume plummets, California's overreach, FBI meddling, climate change & national security
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
OpenSea's volume has dropped by 99% since May 2021 following an article in the New York Times, stating that they were making Burning Man too nice.
03:19 - 05:58 (02:39)
Summary
OpenSea's volume has dropped by 99% since May 2021 following an article in the New York Times, stating that they were making Burning Man too nice. The decentralized app tracker Dapp Radar noted the drop from $406 million to $5 million as of August 28, 2021.
EpisodeE94: NFT volume plummets, California's overreach, FBI meddling, climate change & national security
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Market-based decisions are primarily driven by the potential for future profits, with the narrative surrounding the transaction often playing a significant role in influencing the buyer's perspective.
05:58 - 11:27 (05:29)
Summary
Market-based decisions are primarily driven by the potential for future profits, with the narrative surrounding the transaction often playing a significant role in influencing the buyer's perspective. This trend has been present in various forms throughout the long history of art markets.
EpisodeE94: NFT volume plummets, California's overreach, FBI meddling, climate change & national security
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The fast-food industry is adapting to the increase of minimum wage in some states by automating certain jobs that typically pay minimum wage, while other workers like those at major chains can take advantage of a higher minimum wage.
11:27 - 20:32 (09:04)
Summary
The fast-food industry is adapting to the increase of minimum wage in some states by automating certain jobs that typically pay minimum wage, while other workers like those at major chains can take advantage of a higher minimum wage.
EpisodeE94: NFT volume plummets, California's overreach, FBI meddling, climate change & national security
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
This podcast discusses the natural evolution of democracy in which elected representatives are chosen to help and improve the lives of struggling people.
20:32 - 28:01 (07:29)
Summary
This podcast discusses the natural evolution of democracy in which elected representatives are chosen to help and improve the lives of struggling people.
EpisodeE94: NFT volume plummets, California's overreach, FBI meddling, climate change & national security
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The introduction of technology has resulted in a situation where government workers comprise much of the middle class, further widening the income gap between the public and private sector.
28:01 - 35:00 (06:59)
Summary
The introduction of technology has resulted in a situation where government workers comprise much of the middle class, further widening the income gap between the public and private sector. The implementation of fast food laws has left the economy of California in question.
EpisodeE94: NFT volume plummets, California's overreach, FBI meddling, climate change & national security
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The nature of jobs in the pharmaceutical industry is going to change due to the shift in economic capitalist incentive towards technology, like GPT-3 and Alpha Fold, which is much faster than the government expects.
35:00 - 40:14 (05:14)
Summary
The nature of jobs in the pharmaceutical industry is going to change due to the shift in economic capitalist incentive towards technology, like GPT-3 and Alpha Fold, which is much faster than the government expects.
EpisodeE94: NFT volume plummets, California's overreach, FBI meddling, climate change & national security
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Facebook founder, Mark Zuckerberg confirmed that the FBI had encouraged them to suppress a news story that they described as being similar to the controversial laptop story.
40:14 - 46:31 (06:17)
Summary
Facebook founder, Mark Zuckerberg confirmed that the FBI had encouraged them to suppress a news story that they described as being similar to the controversial laptop story. However, while many Democratic partisans viewed this news story as Russian disinformation, it is challenging to deal with such stories just seven days before an election when you know the Russians could hack it.
EpisodeE94: NFT volume plummets, California's overreach, FBI meddling, climate change & national security
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The government's search of Mar-a-Lago raises concerns about heavy-handed tactics and lack of transparency.
46:31 - 51:42 (05:11)
Summary
The government's search of Mar-a-Lago raises concerns about heavy-handed tactics and lack of transparency. Tech companies like Twitter and Facebook may need to implement policies requiring court orders before censoring content upon government requests.
EpisodeE94: NFT volume plummets, California's overreach, FBI meddling, climate change & national security
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The increasing frequency of extreme climate events can disrupt critical supply chains such as food, energy, and manufacturing, which can severely affect the economy and people's lives.
51:42 - 59:41 (07:59)
Summary
The increasing frequency of extreme climate events can disrupt critical supply chains such as food, energy, and manufacturing, which can severely affect the economy and people's lives. Although this is a long-term problem, some try to create an imminent crisis to advance destructive policies that harm the free market.
EpisodeE94: NFT volume plummets, California's overreach, FBI meddling, climate change & national security
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Economics and geopolitical concerns are forcing a rethink of nuclear energy, including the last operational plant, Diablo Canyon, in California.
59:41 - 1:04:15 (04:33)
Summary
Economics and geopolitical concerns are forcing a rethink of nuclear energy, including the last operational plant, Diablo Canyon, in California. Conversations about the topic often become about moral virtue signaling, but the focus should be on national security and economics.
EpisodeE94: NFT volume plummets, California's overreach, FBI meddling, climate change & national security
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The positioning on nuclear power has changed drastically in the last few decades.
1:04:15 - 1:12:01 (07:45)
Summary
The positioning on nuclear power has changed drastically in the last few decades. While it used to be viewed as something necessary and beneficial, today it’s seen as costly and dangerous.
EpisodeE94: NFT volume plummets, California's overreach, FBI meddling, climate change & national security
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The author explains how energy independence could shift the national security calculus in America and how free market capitalism could play a role in the process.
1:12:01 - 1:15:40 (03:39)
Summary
The author explains how energy independence could shift the national security calculus in America and how free market capitalism could play a role in the process.
EpisodeE94: NFT volume plummets, California's overreach, FBI meddling, climate change & national security
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker argues that forgetting the economic lessons of the Cold War, specifically about the power of free enterprise, and the need to question American foreign policy, has led to the current new Cold War with Russia.
1:15:41 - 1:20:39 (04:57)
Summary
The speaker argues that forgetting the economic lessons of the Cold War, specifically about the power of free enterprise, and the need to question American foreign policy, has led to the current new Cold War with Russia. Additionally, the economic wealth of a certain class may not be enough to stop the prosperity train in America.
EpisodeE94: NFT volume plummets, California's overreach, FBI meddling, climate change & national security
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker praises Bill Clinton's presidency, stating that he was the closest thing to a great president of their lifetime and had a good track record, especially on domestic issues.
1:20:39 - 1:23:10 (02:31)
Summary
The speaker praises Bill Clinton's presidency, stating that he was the closest thing to a great president of their lifetime and had a good track record, especially on domestic issues.