Episode
E26: State of Venture Capital, plus fan questions on longevity, decentralization & quantum computing
1:17:29
Published: Sat Mar 20 2021
Description
View the State of VC deck here: https://rb.gy/wfan6j 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: Lifespan by David Sinclair: https://rb.gy/etzzmk Prenuvo: https://www.prenuvo.com Gumroad Equity Crowdfunding: https://republic.co/gumroad Backstage Equity Crowdfunding: https://republic.co/backstage Show Notes: 0:00 Bestie intro & poker talk 5:49 Fan question: Longevity & Biohacking, Chamath's health regimen 12:54 Fan question: Decentralization, separation of currency & state, will governments fight back against crypto? 22:48 Fan question: Quantum computing's potential impact, why heavy R&D technologies should are better suited for government funding rather than the private sector 33:33 Chamath's thesis behind deep tech investing 37:25 State of VC & how it's changing in terms of demographics, new access to capital, deal size & more 48:49 Trend of founders caring more about individual investors rather than firms, who is well-positioned & who is left out? 55:00 Why growth-stage firms could become less relevant: undifferentiated capital, routing around dilution, brand matters more in the early-stage; how Pipe & Clearbanc are revolutionizing non-dilutive funding 1:04:00 Summarizing the changing landscape of venture capital, how startups can best position themselves in a full lifecycle, innovations in equity crowdfunding, opportunity for entrepreneurs
Chapters
Jason Calacanis, David Friedberg, David Sacks and Bestie C are back together for another episode of the All In podcast discussing various topics, from poker to quantum computing, and illegal trafficking of red pills.
00:00 - 01:30 (01:30)
Summary
Jason Calacanis, David Friedberg, David Sacks and Bestie C are back together for another episode of the All In podcast discussing various topics, from poker to quantum computing, and illegal trafficking of red pills.
EpisodeE26: State of Venture Capital, plus fan questions on longevity, decentralization & quantum computing
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker discusses their experience with having inconsistent performances in poker games despite winning in one game and losing in another.
01:30 - 05:12 (03:41)
Summary
The speaker discusses their experience with having inconsistent performances in poker games despite winning in one game and losing in another.
EpisodeE26: State of Venture Capital, plus fan questions on longevity, decentralization & quantum computing
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Recent studies have identified a switch present in every cell that can trigger either growth mode or repair mode, leading to increased lifespan and improved cell health.
05:12 - 08:17 (03:04)
Summary
Recent studies have identified a switch present in every cell that can trigger either growth mode or repair mode, leading to increased lifespan and improved cell health. Stem cell therapy offers new potential for unlocking the benefits of this switch for longevity.
EpisodeE26: State of Venture Capital, plus fan questions on longevity, decentralization & quantum computing
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker discusses how a high cardiac score can lead to health issues and how preventative measures, such as taking drugs and detecting diseases early, can help reduce the risk of cancer and heart disease.
08:18 - 13:03 (04:45)
Summary
The speaker discusses how a high cardiac score can lead to health issues and how preventative measures, such as taking drugs and detecting diseases early, can help reduce the risk of cancer and heart disease.
EpisodeE26: State of Venture Capital, plus fan questions on longevity, decentralization & quantum computing
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The rise of decentralized anonymized wallets and other developments in decentralized finance (DeFi) such as Ethereum 2.0 and ERC 20 contracts is likely to create challenges for governments seeking to tax financial assets.
13:03 - 18:19 (05:15)
Summary
The rise of decentralized anonymized wallets and other developments in decentralized finance (DeFi) such as Ethereum 2.0 and ERC 20 contracts is likely to create challenges for governments seeking to tax financial assets. However, proponents of DeFi argue that these developments will lead to a more legitimate financial system and decreased focus on physical currency.
EpisodeE26: State of Venture Capital, plus fan questions on longevity, decentralization & quantum computing
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The transaction made through Bitcoin will exist in the blockchain forever and people will need to report the realization event for substantial assets like houses or businesses, countering the critics' exaggerated fears of illegal use.
18:19 - 22:48 (04:28)
Summary
The transaction made through Bitcoin will exist in the blockchain forever and people will need to report the realization event for substantial assets like houses or businesses, countering the critics' exaggerated fears of illegal use. Critics of Bitcoin tend to overlook the technology aspect of it.
EpisodeE26: State of Venture Capital, plus fan questions on longevity, decentralization & quantum computing
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Quantum computers use qubits to store quantum states, which can be used to simulate and model physiochemical properties of molecules and atoms.
22:48 - 27:53 (05:05)
Summary
Quantum computers use qubits to store quantum states, which can be used to simulate and model physiochemical properties of molecules and atoms. Quantum encryption and finding proteins for various functions are other potential uses of quantum computing.
EpisodeE26: State of Venture Capital, plus fan questions on longevity, decentralization & quantum computing
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The coherence problem in AI requires a new perspective, not simply a different approach.
27:52 - 31:39 (03:46)
Summary
The coherence problem in AI requires a new perspective, not simply a different approach. To make significant progress, developers need to adopt a unique angle, a fresh technical framework, and an entirely different risk profile to solve the problem.
EpisodeE26: State of Venture Capital, plus fan questions on longevity, decentralization & quantum computing
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
When the capital required to start a business goes from hundreds of millions to just a few, it's reasonable to invest.
31:39 - 36:38 (04:59)
Summary
When the capital required to start a business goes from hundreds of millions to just a few, it's reasonable to invest. Any company raising hundreds of millions of dollars or valued at a billion dollars or more before shipping a product is presumptively fraudulent, as a lot of research and development (R&D) goes into it.
EpisodeE26: State of Venture Capital, plus fan questions on longevity, decentralization & quantum computing
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
In this episode, the speaker discusses the issues with companies like Magic Leap and the inflation of money going into startups, while also exploring new non-diluted forms of financing that could disrupt traditional venture capital.
36:38 - 40:50 (04:12)
Summary
In this episode, the speaker discusses the issues with companies like Magic Leap and the inflation of money going into startups, while also exploring new non-diluted forms of financing that could disrupt traditional venture capital.
EpisodeE26: State of Venture Capital, plus fan questions on longevity, decentralization & quantum computing
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Proliferation of blogging in the mid-2000s led to a wealth of information which helped founders and investors learn to succeed in the absence of an idea with network effect.
40:50 - 46:53 (06:02)
Summary
Proliferation of blogging in the mid-2000s led to a wealth of information which helped founders and investors learn to succeed in the absence of an idea with network effect. As for venture and private equity, diverse representation within the ranks is crucial.
EpisodeE26: State of Venture Capital, plus fan questions on longevity, decentralization & quantum computing
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The number of micro firms and scaling in venture capital presents larger opportunities for early-stage startups and has enabled valuation increments.
46:52 - 53:50 (06:57)
Summary
The number of micro firms and scaling in venture capital presents larger opportunities for early-stage startups and has enabled valuation increments. The trend now is that firms like Andreessen and Sequoia are full stage with late-stage growth investments.
EpisodeE26: State of Venture Capital, plus fan questions on longevity, decentralization & quantum computing
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The significant valuation step ups of later stage startups made large chunks of capital available, resulting in more money being raised in earlier stage venture and enabling new startups at an earlier stage because of all the crossover money that started to come in.
53:50 - 1:02:34 (08:43)
Summary
The significant valuation step ups of later stage startups made large chunks of capital available, resulting in more money being raised in earlier stage venture and enabling new startups at an earlier stage because of all the crossover money that started to come in. This has led to earlier stage SaaS companies being worth much more, and single GP brand people who know the business category providing expert series A and seed capital to founders.
EpisodeE26: State of Venture Capital, plus fan questions on longevity, decentralization & quantum computing
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Saheel of Gumroad and AngelList's rolling funds shares about the new method of financing for startups, from the syndicates to non-dilutive financing rounds.
1:02:34 - 1:08:29 (05:54)
Summary
Saheel of Gumroad and AngelList's rolling funds shares about the new method of financing for startups, from the syndicates to non-dilutive financing rounds.
EpisodeE26: State of Venture Capital, plus fan questions on longevity, decentralization & quantum computing
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The CEO of Future Media, Jason Calacanis, discusses how investors can now buy a portion of Sequoia Capital through a new investment model, and the potential for democratization of investing in the future.
1:08:29 - 1:12:26 (03:56)
Summary
The CEO of Future Media, Jason Calacanis, discusses how investors can now buy a portion of Sequoia Capital through a new investment model, and the potential for democratization of investing in the future.
EpisodeE26: State of Venture Capital, plus fan questions on longevity, decentralization & quantum computing
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Freeberg announces the launch of their combination incubator and early stage venture firm, offering a customized solution for startups looking to raise capital by allowing multiple parties to invest.
1:12:27 - 1:16:23 (03:56)
Summary
Freeberg announces the launch of their combination incubator and early stage venture firm, offering a customized solution for startups looking to raise capital by allowing multiple parties to invest.
EpisodeE26: State of Venture Capital, plus fan questions on longevity, decentralization & quantum computing
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The podcast features various disjointed comments from different speakers, including open-source fans, winners and sexual tension, ending with a call for merchandise.
1:16:24 - 1:17:18 (00:54)
Summary
The podcast features various disjointed comments from different speakers, including open-source fans, winners and sexual tension, ending with a call for merchandise.