Episode
E105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
1:47:50
Published: Sat Nov 19 2022
Description
0:00 Bestie intros! 2:19 Trump announces 2024 presidential bid 26:07 Each bestie names their most important policy issue for 2024 59:03 Big tech belt-tightening, activist investor calls out Google, professional-managerial class culture 1:17:23 SBF's leaked DMs, Elon's culture shift 1:38:22 Sacks's big chess victory, Friedberg's public company analysis, and more 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://twitter.com/ianbremmer/status/1592951330955759616 https://twitter.com/DavidSacks/status/1592970866312482816 https://twitter.com/DavidSacks/status/1593041589685063683 https://www.washingtonpost.com/national-security/2022/11/14/trump-motive-mar-a-lago-documents https://twitter.com/IAPolls2022/status/1592271468045684736 https://deadline.com/2022/11/donald-trump-2024-new-york-post-ivanka-trump-1235173748 https://fred.stlouisfed.org/series/GFDEGDQ188S https://fred.stlouisfed.org/series/GFDGDPA188S https://en.wikipedia.org/wiki/List_of_countries_by_public_debt https://fred.stlouisfed.org/series/FYFRGDA188S https://www.theverge.com/2022/11/17/23465169/amazon-layoffs-continuing-2023-ceo-andy-jassy https://www.tcifund.com/files/corporateengageement/alphabet/15th%20November%202022.pdf https://twitter.com/antoniogm/status/1593606745955348481 https://twitter.com/DavidSacks/status/1590110462347444224 https://twitter.com/g_shullenberger/status/1590069877288886274 https://compactmag.com/article/the-email-caste-s-last-stand https://www.vox.com/future-perfect/23462333/sam-bankman-fried-ftx-cryptocurrency-effective-altruism-crypto-bahamas-philanthropy https://twitter.com/bgurley/status/1593448516394881024 https://twitter.com/Jason/status/1593653573329436672 https://cointelegraph.com/news/sbf-received-1-billion-in-personal-loans-from-alameda-ftx-bankrupty-filing https://s.wsj.net/public/resources/documents/FTXFILING.pdf https://twitter.com/balajis/status/1593141361582444544
Chapters
J Cal is not very generous and Sax has to constantly pick up the check.
00:00 - 01:31 (01:31)
Summary
J Cal is not very generous and Sax has to constantly pick up the check. Despite this, they get excited about their upcoming trip, but fate has other plans as they receive bad news.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
General Milley, Jake Sullivan, and Jim Cramer advocate for a realistic approach to Ukraine's territorial disputes regarding Crimea.
01:31 - 04:37 (03:05)
Summary
General Milley, Jake Sullivan, and Jim Cramer advocate for a realistic approach to Ukraine's territorial disputes regarding Crimea. Cramer shares his opinions on energy policy, life sciences, and foreign policy investment, which have similarities to the administration's current stance.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The FBI has officially stated that former President Donald Trump was keeping boxes in his basement for the purpose of preserving mementos, not trying to sell state secrets, as some had previously speculated.
04:37 - 08:37 (03:59)
Summary
The FBI has officially stated that former President Donald Trump was keeping boxes in his basement for the purpose of preserving mementos, not trying to sell state secrets, as some had previously speculated.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The media is being accused of hypocrisy for claiming that Trump is a unique threat to democracy while also providing him with extensive coverage and funding his campaign.
08:37 - 13:34 (04:56)
Summary
The media is being accused of hypocrisy for claiming that Trump is a unique threat to democracy while also providing him with extensive coverage and funding his campaign.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
In order for the Republicans to win elections, they need to nominate the most electable candidate and capture the moderate middle.
13:34 - 20:32 (06:58)
Summary
In order for the Republicans to win elections, they need to nominate the most electable candidate and capture the moderate middle. Winning the presidency with only 45% of the vote is impossible.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The US must practice austerity and fiscal responsibility to control spending and prevent future disastrous economic policies.
20:32 - 30:20 (09:48)
Summary
The US must practice austerity and fiscal responsibility to control spending and prevent future disastrous economic policies. Additionally, the global economy depends on an efficient and cost-effective supply chain.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The US has been spending trillions of dollars on foreign wars and military bases while neglecting its own social and economic needs, leading to a ballooning national debt that will eventually cripple the economy.
30:20 - 34:30 (04:10)
Summary
The US has been spending trillions of dollars on foreign wars and military bases while neglecting its own social and economic needs, leading to a ballooning national debt that will eventually cripple the economy. The real national security budget should prioritize investing in infrastructure, education, and healthcare to create a stronger and more prosperous homeland.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The increment of US debt is going up, and something's got to give.
34:30 - 40:54 (06:23)
Summary
The increment of US debt is going up, and something's got to give. If the US tries to raise the taxes to fund these, it could cause inflation or a loss of services.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The US government has a problem with its ever-growing debt which could worsen if interest rates go above 3%.
40:54 - 44:14 (03:20)
Summary
The US government has a problem with its ever-growing debt which could worsen if interest rates go above 3%. Refinancing loans at higher interest rates could cost the government billions, making the debt problem even worse.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The US is currently at historically high levels of debt to GDP ratio, comparable to post-World War II.
44:14 - 47:57 (03:43)
Summary
The US is currently at historically high levels of debt to GDP ratio, comparable to post-World War II. It's important to manage the ratio by keeping government spending equal to or less than the growth rate of the country's economy.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker argues that the financial industry loses credibility when claiming that a certain number will cause everything to break, but it never does, using the example of the risk-free rate numbers.
47:57 - 52:21 (04:24)
Summary
The speaker argues that the financial industry loses credibility when claiming that a certain number will cause everything to break, but it never does, using the example of the risk-free rate numbers. There is a phenomenon called crowding out where when interest goes up, money flows into the risk-free rate.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The increasing federal debt of the US poses a threat to the prioritization of defense spending, social programs and discretionary spending in federal budgetary decisions, as the debt service required to pay off the debt becomes more demanding on the budget.
52:21 - 57:52 (05:30)
Summary
The increasing federal debt of the US poses a threat to the prioritization of defense spending, social programs and discretionary spending in federal budgetary decisions, as the debt service required to pay off the debt becomes more demanding on the budget. Consequently, the current budgetary situation may worsen in the future as the amount of spending may exceed the GDP's capacity to make the necessary payments, and concerns regarding the ratio's lack of precision and long-term consequences are significant.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The lack of pain, risk, downside, and safety net removes incentives to succeed and to drive innovation, creating complacency.
57:52 - 1:06:42 (08:50)
Summary
The lack of pain, risk, downside, and safety net removes incentives to succeed and to drive innovation, creating complacency. Clear accountability must be established to ensure investment goals are achieved.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
A lot of work at Google that explains the excellence of their services is never seen by Wall Street, from technical capabilities like GFS and Bigtable to things like TPU and TensorFlow.
1:06:42 - 1:10:48 (04:06)
Summary
A lot of work at Google that explains the excellence of their services is never seen by Wall Street, from technical capabilities like GFS and Bigtable to things like TPU and TensorFlow. While many may ask how many of these investments that are core are captured in the headcount that blossomed from 2013, people may not have a great sense of today that it's not just 25% of the team that is required.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
In this episode, Eric Weinstein discusses the future of college education in the post-pandemic world, questioning the validity of politically correct degrees and the sustainability of traditional learning models.
1:10:48 - 1:17:25 (06:37)
Summary
In this episode, Eric Weinstein discusses the future of college education in the post-pandemic world, questioning the validity of politically correct degrees and the sustainability of traditional learning models.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker criticizes the idea that simply being "woke" can lead to career opportunities in pandemic prevention, arguing that it is often used as a cover for lack of substantial action or expertise.
1:17:25 - 1:20:21 (02:56)
Summary
The speaker criticizes the idea that simply being "woke" can lead to career opportunities in pandemic prevention, arguing that it is often used as a cover for lack of substantial action or expertise.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The success of Elon Musk's company, Tesla, has brought attention to the efficiency rate of tech companies that are built on software.
1:20:21 - 1:25:01 (04:40)
Summary
The success of Elon Musk's company, Tesla, has brought attention to the efficiency rate of tech companies that are built on software. This raises a concern for these companies to find the efficient rate of return for their shareholders and employees.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The hosts of the podcast discuss the cultural divide between those who live to work and those who work to live in regards to the concept of Hustle Culture.
1:25:01 - 1:31:10 (06:08)
Summary
The hosts of the podcast discuss the cultural divide between those who live to work and those who work to live in regards to the concept of Hustle Culture. While some believe it is necessary for success, others find it out of touch and promote burnout.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
FTX has lost over a billion dollars of client funds and Senators are calling for an investigation by the FTC, while a possible attempt to deflect attention is made through Elon Musk's email about two rhinos.
1:31:10 - 1:35:06 (03:56)
Summary
FTX has lost over a billion dollars of client funds and Senators are calling for an investigation by the FTC, while a possible attempt to deflect attention is made through Elon Musk's email about two rhinos.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker, with extensive experience as a chief restructuring officer and chief executive officer, expresses concern over the lack of corporate controls and trustworthy financial information in certain investment firms.
1:35:06 - 1:38:33 (03:26)
Summary
The speaker, with extensive experience as a chief restructuring officer and chief executive officer, expresses concern over the lack of corporate controls and trustworthy financial information in certain investment firms.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Almost half of the 627 non-SPAC, non-real estate, non-finance tech companies that went public are now worth 0.2x all the initial investment.
1:38:33 - 1:42:32 (03:59)
Summary
Almost half of the 627 non-SPAC, non-real estate, non-finance tech companies that went public are now worth 0.2x all the initial investment. This amounts to a point two times return on capital invested to date in terms of enterprise value divided by total capital invested.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The value of companies that are worth more than the cash invested is five point five times, while half of private companies are worth significantly less than the cash that's been invested in them.
1:42:32 - 1:46:16 (03:44)
Summary
The value of companies that are worth more than the cash invested is five point five times, while half of private companies are worth significantly less than the cash that's been invested in them. Going public can provide the necessary discipline for companies to succeed in the long term.
EpisodeE105: Tech culture wars: Elon vs. SBF, Sabotaging Republicans with Trump
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Hosts Jason Calacanis, David Friedberg, and David Sax gather with guests Jackie Martling, Marlon Nicholson, and a mysterious dictator for a Thanksgiving special episode of the podcast, where they discuss current events and road trip plans.
1:46:16 - 1:47:57 (01:41)
Summary
Hosts Jason Calacanis, David Friedberg, and David Sax gather with guests Jackie Martling, Marlon Nicholson, and a mysterious dictator for a Thanksgiving special episode of the podcast, where they discuss current events and road trip plans.