Show Notes: 00:00 Cold Open 01:19 Titles 01:01 Intro Banter 04:24 Supply chain, labor shortage, 34:04 Taiwan 43:14 Sacks Desantis 47:00 Dave Chappelle 01:08:24 FDA 01:23:27 Question 1 01:27:08 Question 2 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: Statista - The U.S. Car Models Most Impacted By The Microchip Shortage Zack Kanter on Twitter - "The “supply chain crisis” is a clever rebrand" Naithan Jones on Twitter - NFTs Daily Breeze - No start date for 24/7 operations at Port of LA LA Daily News - Port of LA to go to 24/7 operations, Biden announces Nikkei Asia - TSMC announces plans to build first chip plant in Japan St. Louis Fed - Total Public Debt as Percent of Gross Domestic Product Forbes - Druckenmiller Blasts Fed’s ‘Radical’ Stimulus Policy David Sacks on Twitter - Desantis Dinner Variety - Ted Sarandos Doubles Down The Light of Other Days by Arthur C. Clarke CFTC Orders Tether and Bitfinex to Pay Fines Totaling $42.5 Million NBC - Most adults shouldn't take daily aspirin Botched - Man Wins $100,000 Breast Implants Bet!
The players started with $500/$1000 chips but quickly raised the stakes to $1000/$2000, $2000/$4000, and even $32,000. One player lost $800 while another lost $700.
The Rain Man (Sacks), The Dictator (Palihapitiya) and The Queen of Quinoa (Friedberg) come together to discuss the ins and outs of the startup world, from unicorn valuation and fund raising to the traits that make great founders.
The current labor shortage in America is different, as it may take at least a year to work through the current logjam and global supply chains due to limited inventory and rising costs. The only efficient way to resolve this is by raising salaries, which are consistent and persistent.
The rising prices resulting from supply chain disruptions may accelerate the trend towards automation of low-cost labor, forcing businesses to invest in capital and infrastructure. The economic task force is currently trying to balance tapering inflationary effects with avoiding economic disruption by raising interest rates while negotiating with unions.
Experts predict that the labor shortage in the United States will worsen and businesses will have to increase wages to attract workers. As a result, prices of goods and services may rise, and the Federal Reserve and the European Central Bank may tighten their posture.
Tech companies promise future payouts with their stocks as investments, but as interest rates rise, investors demand higher dividends yields on their stock investments in the present, which poses a major trade-off for tech companies.
Stanley Druckenmiller warns that if the US 10-year Treasury yields rise to 4.9%, government spending would be mostly paying back interest expense, leading to a risk of stagflation in the form of a supply chain shortage and a 5.1% interest rate. This would result in the entire federal budget being used for debt service, limiting flexibility for future interest rate increases.
Could allowing more immigrants to take low-income jobs solve shortages in certain industries in America? Some argue that could prove to be a major boost to many businesses.
The best way to run a country is to recruit the best talent, much like how sports teams function. By taking emotion out of immigration and implementing a point-based system like Australia, New Zealand, the UK, and Canada, we can focus on performance and statistical excellence.
Republican strategist Karl Rove advises the party to find a candidate focused on the future, not one who is stuck in the past, to run for presidency. Rove specifically criticizes Donald Trump's behavior and encourages support for Florida Governor Ron DeSantis.
Dave Chappelle has defended his latest comedy special, Sticks and Stones, in which he jokes about sensitive topics such as the LGBTQ community and school shootings. Despite concerns from some Netflix employees about the potential harm of the content, Chappelle believes it's important to continue making comedy that pushes boundaries and sparks conversations.
The issue of cancel culture cannot be resolved through rational debate and there needs to be a massive escalation of conflict to resolve it in one way or another.
Tether, a stable coin with multi-billion dollar market capitalization, has been accused of market manipulation and misrepresenting to customers their USD reserves to back every USD Tether in circulation with the equivalent amount held in other bank accounts. They allegedly have only 6-6% of cash in a bank account and the rest in highly volatile corporate paper.
The FDA's drug approvals are based on independent advisory panels who review research data and make recommendations, which is a good process to ensure safety and efficacy. Without this process, drug companies could potentially sell harmful products to individuals in a free-for-all manner.
The use of quantum computers to simulate the quantum states of molecules might help understand how two molecules interact with each other, which is difficult today to model deterministically in physics.
The speaker reflects on the reward of making and selling great products while discussing their favorite role as a former Monsanto executive with access to a private jet and a stocked liquor cabinet.
The podcast ends with the hosts making vague references to leaving with something and betting on a game, while also planning a future gig at the mausoleum.