Episode
E103: Tech layoffs surge, big tech freezes hiring, optimizing for profits, election preview & more
1:28:51
Published: Sat Nov 05 2022
Description
(0:00) Jason's new brand deal (1:18) Bestie updates (9:12) "Ligma/Johnson" blunder outside of Twitter HQ (15:38) Surge of tech layoffs at Twitter, Stripe, Lyft, Opendoor, Chime and others; preparing for a longer downturn than originally anticipated (35:28) Macro trends, big tech freezes hiring, how founders can think about the last 3 years and the next 3 years (54:04) Midterm election preview, understanding the shift toward populism (1:17:32) Science corner: Understanding Meta's AlphaFold competitor 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/elonmusk/status/1588538640401018880 https://twitter.com/yoyoel/status/1587230924554399744 https://twitter.com/dee_bosa/status/1587158734689767425 https://twitter.com/TechBroDrip/status/1586370087287521280 https://twitter.com/elonmusk/status/1586149451348910081 https://layoffs.fyi https://twitter.com/Post_Market/status/1577793695734284289 https://twitter.com/bullfightcap/status/1588311417052012544 https://www.youtube.com/watch?v=vBkzm4a7iY4 https://finra-markets.morningstar.com/BondCenter/BondDetail.jsp?ticker=C996374&symbol=COIN5259271 https://www.cnsnews.com/article/washington/susan-jones/622-labor-force-participation-declines-3rd-straight-month https://fred.stlouisfed.org/series/CIVPART https://research.stlouisfed.org/publications/employment-research/are-economists-underestimating-the-labor-force-participation-rate https://www.bbc.com/news/business-63471725 https://www.google.com/finance https://twitter.com/bgurley/status/1554589241560010753 https://appleinsider.com/articles/22/11/02/apple-is-freezing-hiring-cutting-budgets-claims-new-report https://www.cnn.com/2022/11/02/politics/cnn-poll-democrats-midterm-elections/index.html https://www.theatlantic.com/ideas/archive/2022/10/covid-response-forgiveness/671879 https://www.axios.com/2022/11/04/trump-presidential-run-2024-announcement https://projects.fivethirtyeight.com/biden-approval-rating/ https://www.joshbarro.com/p/the-problem-with-pro-democracy-rhetoric https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCSSTUS1&f=M https://about.fb.com/news/2022/11/ai-protein-research-could-drive-progress-in-medicine-clean-energy
Chapters
In this episode, the hosts wear their new Uber Montclair crossover hats and discuss potential sponsorships.
00:00 - 01:19 (01:19)
Summary
In this episode, the hosts wear their new Uber Montclair crossover hats and discuss potential sponsorships.
EpisodeE103: Tech layoffs surge, big tech freezes hiring, optimizing for profits, election preview & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The podcast discusses the benefits of micro payments or subscriptions to access third-party content on Twitter, and issues with byline-less publications.
01:20 - 10:05 (08:45)
Summary
The podcast discusses the benefits of micro payments or subscriptions to access third-party content on Twitter, and issues with byline-less publications. Also addressed are the problems posed by highly realistic fake human images and GPT-3 generated text. Elon Musk's recent tweet on advertiser boycott and racist tweets is also mentioned.
EpisodeE103: Tech layoffs surge, big tech freezes hiring, optimizing for profits, election preview & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
This episode explores the importance of fact-checking in open or citizen journalism, the integrity of the voices we rely on for journalistic authority, and how certain publications prioritize narratives over truth.
10:05 - 13:46 (03:41)
Summary
This episode explores the importance of fact-checking in open or citizen journalism, the integrity of the voices we rely on for journalistic authority, and how certain publications prioritize narratives over truth.
EpisodeE103: Tech layoffs surge, big tech freezes hiring, optimizing for profits, election preview & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The coverage of the Amazon union drive demonstrates the sensationalist and pre-decided narratives of major publications.
13:46 - 16:07 (02:21)
Summary
The coverage of the Amazon union drive demonstrates the sensationalist and pre-decided narratives of major publications. The media portrayed the story in a manner that suited their narrative of workers being mistreated by their employers, rather than covering the story in a balanced manner.
EpisodeE103: Tech layoffs surge, big tech freezes hiring, optimizing for profits, election preview & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Elon Musk's plan to cut 30-50% of Twitter's workforce could set a new standard for enterprise-scale businesses, potentially prompting distressed mid- and small-cap software companies to follow suit and catalyzing M&A and buyout activity.
16:07 - 21:16 (05:08)
Summary
Elon Musk's plan to cut 30-50% of Twitter's workforce could set a new standard for enterprise-scale businesses, potentially prompting distressed mid- and small-cap software companies to follow suit and catalyzing M&A and buyout activity.
EpisodeE103: Tech layoffs surge, big tech freezes hiring, optimizing for profits, election preview & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Some public software companies may need to go private in order to do the restructuring the market demands for proper valuation, with a possibility of acquisition by private equity firms or remaining private.
21:16 - 25:45 (04:29)
Summary
Some public software companies may need to go private in order to do the restructuring the market demands for proper valuation, with a possibility of acquisition by private equity firms or remaining private.
EpisodeE103: Tech layoffs surge, big tech freezes hiring, optimizing for profits, election preview & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The potential risk of running out of money and going belly up is becoming a systemic issue for scaled unicorn software companies as they burn through their raised capital.
25:45 - 30:57 (05:11)
Summary
The potential risk of running out of money and going belly up is becoming a systemic issue for scaled unicorn software companies as they burn through their raised capital. This concern is especially relevant for companies that continue to spend at a high rate and do not trim their expenses to reach profitability.
EpisodeE103: Tech layoffs surge, big tech freezes hiring, optimizing for profits, election preview & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
David Friedberg discusses the Fed's change of approach as an entrepreneur and shares insight on buying corporate tech bonds as a high-risk investment.
30:56 - 35:32 (04:35)
Summary
David Friedberg discusses the Fed's change of approach as an entrepreneur and shares insight on buying corporate tech bonds as a high-risk investment.
EpisodeE103: Tech layoffs surge, big tech freezes hiring, optimizing for profits, election preview & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
This episode discusses how some companies have managed their valuations during the pandemic by using complicated converts to avoid revisiting their finances as well as the possibility of a shift in the labor paradigm with the labor participation rate being affected by COVID deaths.
35:32 - 44:19 (08:47)
Summary
This episode discusses how some companies have managed their valuations during the pandemic by using complicated converts to avoid revisiting their finances as well as the possibility of a shift in the labor paradigm with the labor participation rate being affected by COVID deaths.
EpisodeE103: Tech layoffs surge, big tech freezes hiring, optimizing for profits, election preview & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Gig work, or informal work over 20 hours per week, could increase labor participation by up to 2%, according to the Fed of St. Louis.
44:19 - 48:10 (03:51)
Summary
Gig work, or informal work over 20 hours per week, could increase labor participation by up to 2%, according to the Fed of St. Louis. Public market investors are hesitant to invest in companies with small, tepid riffs and instead seek substantial profit margins.
EpisodeE103: Tech layoffs surge, big tech freezes hiring, optimizing for profits, election preview & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Many startups have significantly increased their headcount during the last two years, but downsizing could be necessary for sustainable growth and maintaining free cash flow in the long run.
48:10 - 54:18 (06:07)
Summary
Many startups have significantly increased their headcount during the last two years, but downsizing could be necessary for sustainable growth and maintaining free cash flow in the long run. Strategic cuts could also make some companies more attractive for investors.
EpisodeE103: Tech layoffs surge, big tech freezes hiring, optimizing for profits, election preview & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker predicts the Senate races in a wave year would break in one direction, and Blake would win the Senate race with a close call in Arizona against Federman who is considered manifestly unqualified with fairly unpopular positions.
54:18 - 58:53 (04:35)
Summary
The speaker predicts the Senate races in a wave year would break in one direction, and Blake would win the Senate race with a close call in Arizona against Federman who is considered manifestly unqualified with fairly unpopular positions.
EpisodeE103: Tech layoffs surge, big tech freezes hiring, optimizing for profits, election preview & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The CDC has come out with a new stance on opioids and their distribution, and people are urged to collect their own information and question organizations.
58:53 - 1:04:21 (05:27)
Summary
The CDC has come out with a new stance on opioids and their distribution, and people are urged to collect their own information and question organizations. Reports are now suggesting that the theory of the Wuhan lab leak may have some truth, which had previously been censored.
EpisodeE103: Tech layoffs surge, big tech freezes hiring, optimizing for profits, election preview & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The billionaire investor expressed his political thoughts on the democrats and hopes to encourage a split government.
1:04:21 - 1:09:40 (05:18)
Summary
The billionaire investor expressed his political thoughts on the democrats and hopes to encourage a split government. Additionally, he predicts a recession in the upcoming 2024 election cycle and highlights the focus on economic growth.
EpisodeE103: Tech layoffs surge, big tech freezes hiring, optimizing for profits, election preview & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The rise of populism denotes vehement opposition to elitism and establishments that everyone feels kept down by and taken advantage of.
1:09:40 - 1:16:51 (07:11)
Summary
The rise of populism denotes vehement opposition to elitism and establishments that everyone feels kept down by and taken advantage of. As a result, having experts in a position of power who know what they're doing can stop this populist wave from rising.
EpisodeE103: Tech layoffs surge, big tech freezes hiring, optimizing for profits, election preview & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Through sequencing the genome of various species, we can find proteins in soil that can be turned into fungicides to kill fungal pathogens and bacteria.
1:16:51 - 1:23:33 (06:41)
Summary
Through sequencing the genome of various species, we can find proteins in soil that can be turned into fungicides to kill fungal pathogens and bacteria. There's a limitless number of proteins that could exist due to the 20 amino acid variations.
EpisodeE103: Tech layoffs surge, big tech freezes hiring, optimizing for profits, election preview & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
This podcast episode discusses the potential of meteorites for genomic data and how analyzing genomes can lead to discoveries for new antibiotics and medicine.
1:23:33 - 1:27:29 (03:56)
Summary
This podcast episode discusses the potential of meteorites for genomic data and how analyzing genomes can lead to discoveries for new antibiotics and medicine. Additionally, it highlights the trend of the marginal cost of energy decreasing.
EpisodeE103: Tech layoffs surge, big tech freezes hiring, optimizing for profits, election preview & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The hosts wrap up the podcast episode, commenting on the fear of making a joke and the sexual tension among fans.
1:27:29 - 1:28:35 (01:05)
Summary
The hosts wrap up the podcast episode, commenting on the fear of making a joke and the sexual tension among fans.