Episode
E58: November's CPI, preparing for a downturn, macro outlook, Better.com's botched layoffs & more
1:21:03
Published: Sat Dec 11 2021
Description
0:00 Bestie Intro: Chamath's happy hour and sweater feud 7:11 Breaking down the new 6.8% CPI number, reflecting on old inflation takes, jobs report, understanding why CPI is misleading 23:05 How growth stocks got overblown, current valuation outlook, government as capital allocators 40:12 Deficit trouble: will another president ever try and balance the budget? Areas of positivity in the economy 50:29 Better.com's botched layoffs, impact of overcapitalization, macro outlook for founders 1:11:16 Lessons from the Jussie Smollett saga 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.cnbc.com/2021/12/10/consumer-price-index-november-2021.html https://www.bls.gov/opub/ted/2021/consumer-prices-increase-6-2-percent-for-the-year-ended-october-2021.htm https://www.marketwatch.com/story/what-powell-must-do-next-after-admitting-that-he-was-wrong-about-transitory-inflation-11638460995 https://www.cnn.com/2021/01/27/economy/inflation-federal-reserve-janet-yellen/index.html https://www.nytimes.com/2021/03/22/opinion/us-inflation-stimulus.html https://www.nytimes.com/2021/03/10/business/economy/inflation-markets-federal-reserve.html https://www.axios.com/inflation-consumers-survey-1932e8d0-b01b-4c39-8fb4-4fdb9a96958d.html http://cdn.cnn.com/cnn/2021/images/12/10/cbo.report.on.build.back.better.pdf https://www.politico.com/newsletters/playbook-pm/2021/11/10/does-the-wh-owe-larry-summers-an-apology-495052 https://www.cnbc.com/2021/12/03/jobs-report-november-2021.html https://twitter.com/BillAckman/status/1469438745791410183 https://www.cnbc.com/2021/06/10/stanley-druckenmiller-fed-lulling-investors-into-false-sense-of-security.html https://www.businessinsider.com/congress-progressives-back-bill-4-day-workweek-remote-work-2021-12 https://youtu.be/-_wvTa8aiu8 https://www.thebalance.com/deficit-by-president-what-budget-deficits-hide-3306151 https://twitter.com/Jason/status/1469370800771715073 https://www.forbes.com/sites/davidjeans/2020/11/20/mortgages-fraud-claims-and-dumb-dolphins-a-tangled-past-haunts-bettercom-ceo-vishal-garg/?sh=6ed46a0110f4 https://youtu.be/pXLx5OY21Bk https://youtu.be/wZXoErL2124
Chapters
The complain about Chamath Palihapitiya's conspicuous consumption of his own blood sweaters was discussed in a podcast.
00:00 - 03:22 (03:21)
Summary
The complain about Chamath Palihapitiya's conspicuous consumption of his own blood sweaters was discussed in a podcast. The speakers talked about Chamath Palihapitiya's lifestyle and wealth.
EpisodeE58: November's CPI, preparing for a downturn, macro outlook, Better.com's botched layoffs & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The hosts discuss the recent panic in the crypto market and how it relates to the current state of the economy, including inflation.
03:22 - 07:14 (03:52)
Summary
The hosts discuss the recent panic in the crypto market and how it relates to the current state of the economy, including inflation. They also address the notion that investing in sustainable industries means sacrificing personal style.
EpisodeE58: November's CPI, preparing for a downturn, macro outlook, Better.com's botched layoffs & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Bill Ackman, an investor, tweeted in support of claims that CPI is a poorly calculated measurement and that inflation may persist.
07:14 - 16:24 (09:10)
Summary
Bill Ackman, an investor, tweeted in support of claims that CPI is a poorly calculated measurement and that inflation may persist. Reports of US Government spending may set prices and wages expectations, leading to a rise in inflation.
EpisodeE58: November's CPI, preparing for a downturn, macro outlook, Better.com's botched layoffs & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The inflationary bubble caused by pumping money into the system indicates underlying economic recession.
16:24 - 23:47 (07:22)
Summary
The inflationary bubble caused by pumping money into the system indicates underlying economic recession. The key is to analyze if enough money has been pumped to trigger economic growth that can outpace the inflation.
EpisodeE58: November's CPI, preparing for a downturn, macro outlook, Better.com's botched layoffs & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The lack of confidence in the federal bureaucracy's response to inflation is leading to concern in the markets.
23:47 - 34:19 (10:32)
Summary
The lack of confidence in the federal bureaucracy's response to inflation is leading to concern in the markets. A recent proposal to limit the work week to four days seems out of touch with the current economic situation and only adds to the uncertainty.
EpisodeE58: November's CPI, preparing for a downturn, macro outlook, Better.com's botched layoffs & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Elon Musk makes a strong point about the importance of skilled individuals managing capital allocation in the economy, rather than relying on the government.
34:19 - 39:13 (04:53)
Summary
Elon Musk makes a strong point about the importance of skilled individuals managing capital allocation in the economy, rather than relying on the government. He argues against taking the job of capital allocation away from those who have demonstrated a track record of success and giving it to the government.
EpisodeE58: November's CPI, preparing for a downturn, macro outlook, Better.com's botched layoffs & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The increase in the deficit is alarming when looking back at the past five to six presidents.
39:13 - 43:34 (04:20)
Summary
The increase in the deficit is alarming when looking back at the past five to six presidents. The incentive structure in government drives a systemic model of growth, resulting in the government competing as a monopoly on the field for capital.
EpisodeE58: November's CPI, preparing for a downturn, macro outlook, Better.com's botched layoffs & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The low cost model of consumerism in the United States may be coming to an end, as labor shortages continue and automation becomes more prevalent in the sector.
43:34 - 47:02 (03:28)
Summary
The low cost model of consumerism in the United States may be coming to an end, as labor shortages continue and automation becomes more prevalent in the sector.
EpisodeE58: November's CPI, preparing for a downturn, macro outlook, Better.com's botched layoffs & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
With the eradication of old minimum-wage jobs, new life forms and industries are emerging, which will create new job opportunities for creators and people.
47:02 - 49:57 (02:55)
Summary
With the eradication of old minimum-wage jobs, new life forms and industries are emerging, which will create new job opportunities for creators and people. Despite the current record cases of Omicron in the UK, people are still spending money on new stuff, creating more opportunities for entrepreneurs.
EpisodeE58: November's CPI, preparing for a downturn, macro outlook, Better.com's botched layoffs & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
A CEO fired 900 employees over Zoom in a bizarre and impersonal manner, offering them two to four weeks of severance pay.
49:57 - 53:27 (03:30)
Summary
A CEO fired 900 employees over Zoom in a bizarre and impersonal manner, offering them two to four weeks of severance pay. Prior to this, he could have gone through a thoughtful process to rectify issues and maybe only cut 10% of the company.
EpisodeE58: November's CPI, preparing for a downturn, macro outlook, Better.com's botched layoffs & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The decision to raise too much money for a startup could lead to a mismanagement of growth to meet consumer demand, causing layoffs due to restructuring.
53:27 - 59:17 (05:49)
Summary
The decision to raise too much money for a startup could lead to a mismanagement of growth to meet consumer demand, causing layoffs due to restructuring. Taking responsibility and offering a fair exit package is crucial in such scenarios.
EpisodeE58: November's CPI, preparing for a downturn, macro outlook, Better.com's botched layoffs & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker suggests that companies should consider raising more money at lowered valuations due to the current macroeconomic situation impacting startup valuations.
59:17 - 1:07:54 (08:37)
Summary
The speaker suggests that companies should consider raising more money at lowered valuations due to the current macroeconomic situation impacting startup valuations. He also highlights the difference between the responsibilities of a board and the incentives of big investors.
EpisodeE58: November's CPI, preparing for a downturn, macro outlook, Better.com's botched layoffs & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker is inviting the listener to a holiday party and mentions that it has been happening for several years.
1:07:54 - 1:09:47 (01:53)
Summary
The speaker is inviting the listener to a holiday party and mentions that it has been happening for several years. They specifically mention inviting Rick and Sachs to the party.
EpisodeE58: November's CPI, preparing for a downturn, macro outlook, Better.com's botched layoffs & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The hosts briefly discuss the Jussie Smollett case before transitioning to talking about a recent poker game.
1:09:47 - 1:11:12 (01:24)
Summary
The hosts briefly discuss the Jussie Smollett case before transitioning to talking about a recent poker game.
EpisodeE58: November's CPI, preparing for a downturn, macro outlook, Better.com's botched layoffs & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The lack of response from those who promoted Jesse Smollett's attack story is concerning, given the current climate of rising hate crimes against marginalized groups.
1:11:12 - 1:14:48 (03:36)
Summary
The lack of response from those who promoted Jesse Smollett's attack story is concerning, given the current climate of rising hate crimes against marginalized groups. While the attack itself was a deplorable act, the supposed motives behind it only served to deepen racial tensions.
EpisodeE58: November's CPI, preparing for a downturn, macro outlook, Better.com's botched layoffs & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Comparing the Kenneth Walker and Kyle Rittenhouse verdicts, stating that people are rushing to conclusions on both cases and discussing how individuals can move forward after unjust outcomes.
1:14:48 - 1:20:00 (05:11)
Summary
Comparing the Kenneth Walker and Kyle Rittenhouse verdicts, stating that people are rushing to conclusions on both cases and discussing how individuals can move forward after unjust outcomes.
EpisodeE58: November's CPI, preparing for a downturn, macro outlook, Better.com's botched layoffs & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
No relevant information or discussion is present in this text.
1:20:00 - 1:20:46 (00:45)
Summary
No relevant information or discussion is present in this text.