Episode
E20: Robinhood wrap up, Insiders vs. Outsiders, California's failing report card & how to fix it
1:20:31
Published: Wed Feb 03 2021
Description
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/MikeSylvan Referenced in the show: The Insiders' Game by David Sacks https://www.persuasion.community/p/the-insiders-game ABC News - CA EDD admits paying as much as $31 billion in unemployment funds to criminals https://rb.gy/g8uwfj Forbes - Why California Is In Trouble – 340,000 Public Employees With $100,000+ Paychecks Cost Taxpayers $45 Billion https://rb.gy/5bhfsf Rescue California - Recall Gavin Newsom https://rescuecalifornia.org Show Notes: 0:00 Wrapping up the Robinhood situation: major lessons learned, Elon’s Clubhouse interview with Vlad, is the cash infusion to Robinhood a trade of the year candidate in 2021? 20:21 Understanding short positions - why do firms short, more transparency & margin requirements 26:08 Sacks on the growing insider vs. outsider theme in politics & finance, importance of institutions in chaos 31:45 Breaking down California’s report card, why the state is such a mess, what structural problems plague it & how to fix them 1:02:04 Chamath’s Aziz Ansari story, Governor potential, top ways to save California
Chapters
Chamath Palihapitiya apologizes to Jason Calacanis for anything he said that hurt his feelings and acknowledges that he may have forgotten where he is today.
00:00 - 03:50 (03:50)
Summary
Chamath Palihapitiya apologizes to Jason Calacanis for anything he said that hurt his feelings and acknowledges that he may have forgotten where he is today.
EpisodeE20: Robinhood wrap up, Insiders vs. Outsiders, California's failing report card & how to fix it
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The decision of choosing between the company and its customers' loss is a tough one for business owners.
03:50 - 10:03 (06:12)
Summary
The decision of choosing between the company and its customers' loss is a tough one for business owners. However, it's essential to prioritize your customer's success to maintain a long-lasting business model.
EpisodeE20: Robinhood wrap up, Insiders vs. Outsiders, California's failing report card & how to fix it
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The financial industry needs to improve disclosure downstream so that consumers can make informed decisions about Payment for Order Flow.
10:03 - 16:40 (06:36)
Summary
The financial industry needs to improve disclosure downstream so that consumers can make informed decisions about Payment for Order Flow. Meanwhile, the massive leverage taken on by hedge funds poses a risk to the market similar to the LTCM crisis.
EpisodeE20: Robinhood wrap up, Insiders vs. Outsiders, California's failing report card & how to fix it
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker has been receiving increasing offers for his Robinhood shares in the secondary market, however, Vlad had diluted the shares.
16:40 - 22:06 (05:26)
Summary
The speaker has been receiving increasing offers for his Robinhood shares in the secondary market, however, Vlad had diluted the shares. The speaker believes that Vlad may have been forced to do so and thinks Robinhood is losing preference as a result.
EpisodeE20: Robinhood wrap up, Insiders vs. Outsiders, California's failing report card & how to fix it
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Short sellers of the stock market have to pay a fee or interest rate to borrow shares which can be costly when there is high interest in selling short.
22:06 - 31:52 (09:45)
Summary
Short sellers of the stock market have to pay a fee or interest rate to borrow shares which can be costly when there is high interest in selling short. This can incentivize investors who are not insiders, and tired of the insiders game to vote them out of office.
EpisodeE20: Robinhood wrap up, Insiders vs. Outsiders, California's failing report card & how to fix it
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
California faces issues with fraudulent unemployment benefits, ineffective spending plans, high COVID-19 infection rates, and a struggling economy leading to a mass exodus of residents and companies.
31:52 - 38:24 (06:31)
Summary
California faces issues with fraudulent unemployment benefits, ineffective spending plans, high COVID-19 infection rates, and a struggling economy leading to a mass exodus of residents and companies.
EpisodeE20: Robinhood wrap up, Insiders vs. Outsiders, California's failing report card & how to fix it
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The corporate tax rate accounts for 10% of California's revenue and the state charges an average of 9% on corporations, allowing small businesses that earn up to a million dollars annually to pay little to nothing in taxes.
38:24 - 45:36 (07:12)
Summary
The corporate tax rate accounts for 10% of California's revenue and the state charges an average of 9% on corporations, allowing small businesses that earn up to a million dollars annually to pay little to nothing in taxes. However, the state faces challenges in getting itself out of the financial holes it has created, and it may take decades to resolve these issues.
EpisodeE20: Robinhood wrap up, Insiders vs. Outsiders, California's failing report card & how to fix it
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The lack of pensions in many careers has led people to retire after only 20 years of work, sometimes as early as their forties.
45:36 - 53:45 (08:08)
Summary
The lack of pensions in many careers has led people to retire after only 20 years of work, sometimes as early as their forties. Overcharging drug users with drug crimes instead of offering treatment has also contributed to this trend.
EpisodeE20: Robinhood wrap up, Insiders vs. Outsiders, California's failing report card & how to fix it
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The government officials in California are not representing the people who are living and voting there, but instead are catering to special interests and teachers unions, leading to the inability to build housing and stunting growth.
53:45 - 1:02:07 (08:21)
Summary
The government officials in California are not representing the people who are living and voting there, but instead are catering to special interests and teachers unions, leading to the inability to build housing and stunting growth.
EpisodeE20: Robinhood wrap up, Insiders vs. Outsiders, California's failing report card & how to fix it
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The conversation ranges from discussing someone's curly hair, to potential political aspirations, to the complexities of hosting a large group dinner.
1:02:07 - 1:07:11 (05:04)
Summary
The conversation ranges from discussing someone's curly hair, to potential political aspirations, to the complexities of hosting a large group dinner.
EpisodeE20: Robinhood wrap up, Insiders vs. Outsiders, California's failing report card & how to fix it
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The conversation revolves around affordable housing through multifamily, going up by adding stories to buildings, and reducing property tax rates in California.
1:07:11 - 1:14:38 (07:26)
Summary
The conversation revolves around affordable housing through multifamily, going up by adding stories to buildings, and reducing property tax rates in California. They also discuss the importance of phasing out the prop 13 property tax rate over time to find a balance for keeping top households in California.
EpisodeE20: Robinhood wrap up, Insiders vs. Outsiders, California's failing report card & how to fix it
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Tim Draper shares his ideas on the importance of school vouchers, increasing public school salaries, and introducing competition for better schools in California.
1:14:38 - 1:20:18 (05:40)
Summary
Tim Draper shares his ideas on the importance of school vouchers, increasing public school salaries, and introducing competition for better schools in California.