Episode
E1: US Response to COVID-19 & Impact on Startups, Venture Capital & Public Markets with David Friedberg
1:31:15
Published: Thu Mar 19 2020
Description
Follow @chamath: https://twitter.com/chamath Follow @jason: https://twitter.com/Jason https://linktr.ee/calacanis 0:01 Jason & Chamath intro David and check in on each other's quarantines 2:26 Has the US overreacted or underreacted so far? David & Chamath give their opinions on new directives & statistics 13:15 Thoughts on potential treatment options & policy changes 22:25 Chamath explains the circumstances of recording a podcast while the Stock Market tanks in real-time 25:03 Should the US adopt Chinese & South Korean quarantine strategies? 29:53 What do the current market conditions mean for startups & VC? 41:24 Chamath explains what is currently happening in the capital markets 45:05 How close is the US on being able to do mass-testing? 54:13 Thoughts on bailouts for companies that manipulated their earnings-per-share ratio by stock buybacks? Impact on the global economy 1:03:14 Impact on luxury goods? Should there be a monthly stipend for low-income citizens? 1:12:10 COVID-19 exposing holes in the US healthcare system 1:17:44 Should we ban wet markets globally? 1:24:12 Over/Under: when Americans will be allowed to go out to restaurants again 1:28:18 When will the weekly poker game resume?
Chapters
A task force, led by Jared Kushner and including members of the tech industry, is working to ramp up COVID-19 testing in the US.
00:00 - 03:45 (03:45)
Summary
A task force, led by Jared Kushner and including members of the tech industry, is working to ramp up COVID-19 testing in the US. Progress is being made on testing and developing treatments, but small businesses, travel, and energy industries are still feeling the effects of the pandemic.
EpisodeE1: US Response to COVID-19 & Impact on Startups, Venture Capital & Public Markets with David Friedberg
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
If food production, processing, and distribution factories are shut down due to the COVID-19 pandemic, it can lead to a food security crisis.
03:45 - 10:11 (06:26)
Summary
If food production, processing, and distribution factories are shut down due to the COVID-19 pandemic, it can lead to a food security crisis. In the United States, for example, we import a lot of food and shutting down factories can lead to a shortage of food supply, especially because there is only 30 days of food for the whole world to eat based on calorie consumption per day. Additionally, the large asymptomatic population, roughly 50%, discovered on the cruise ship highlights the potential for further spread of the virus.
EpisodeE1: US Response to COVID-19 & Impact on Startups, Venture Capital & Public Markets with David Friedberg
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The US should consider an emergency policy action to produce and make treatments available to let doctors use their best judgment rather than have the FDA make all decisions for them, particularly in the current high-risk zones.
10:11 - 17:21 (07:09)
Summary
The US should consider an emergency policy action to produce and make treatments available to let doctors use their best judgment rather than have the FDA make all decisions for them, particularly in the current high-risk zones. This would help people get back to work and prevent economic calamity amidst the COVID-19 outbreak.
EpisodeE1: US Response to COVID-19 & Impact on Startups, Venture Capital & Public Markets with David Friedberg
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
In this episode, Jason speaks with Chamath Palihapitiya about the potential benefits and drawbacks of the herd immunity approach to COVID-19, as well as its possible impact on the economy and unemployment.
17:22 - 23:29 (06:06)
Summary
In this episode, Jason speaks with Chamath Palihapitiya about the potential benefits and drawbacks of the herd immunity approach to COVID-19, as well as its possible impact on the economy and unemployment.
EpisodeE1: US Response to COVID-19 & Impact on Startups, Venture Capital & Public Markets with David Friedberg
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
As COVID-19 infections continue to rise, there is a trade-off between civil liberties and returning to normalcy.
23:28 - 29:03 (05:34)
Summary
As COVID-19 infections continue to rise, there is a trade-off between civil liberties and returning to normalcy. While some may be willing to sacrifice certain liberties for a quicker return to normalcy, others question their long-term impact.
EpisodeE1: US Response to COVID-19 & Impact on Startups, Venture Capital & Public Markets with David Friedberg
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Companies should focus on optimizing their unit economics to reduce burn and extend their runway during an economic downturn.
29:03 - 39:12 (10:09)
Summary
Companies should focus on optimizing their unit economics to reduce burn and extend their runway during an economic downturn. Additionally, they need to assess where their customers are, adjust their strategies accordingly, and prepare for the potential impact of the downturn on their customer base.
EpisodeE1: US Response to COVID-19 & Impact on Startups, Venture Capital & Public Markets with David Friedberg
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Testing and data are keys to mitigating the virus outbreak, leveraging short term commercial paper and money markets as collateral to put in the market.
39:13 - 48:26 (09:12)
Summary
Testing and data are keys to mitigating the virus outbreak, leveraging short term commercial paper and money markets as collateral to put in the market. There is a chance of containing the virus in the next 60 days with the use of drugs.
EpisodeE1: US Response to COVID-19 & Impact on Startups, Venture Capital & Public Markets with David Friedberg
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Mass testing needs to happen within the next 2-3 weeks to have an impact and although reported cases may be delayed, death count has the most accurate information.
48:26 - 54:09 (05:42)
Summary
Mass testing needs to happen within the next 2-3 weeks to have an impact and although reported cases may be delayed, death count has the most accurate information.
EpisodeE1: US Response to COVID-19 & Impact on Startups, Venture Capital & Public Markets with David Friedberg
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The speaker proposes that the US government should immediately give $5,000 to every American making less than $1 million per year to stimulate the economy through the purchase of goods and services, which would be the equivalent of a $20 trillion GDP.
54:09 - 1:03:55 (09:46)
Summary
The speaker proposes that the US government should immediately give $5,000 to every American making less than $1 million per year to stimulate the economy through the purchase of goods and services, which would be the equivalent of a $20 trillion GDP. He also suggests a $2-3 trillion stimulus package could increase the national debt by only 10%.
EpisodeE1: US Response to COVID-19 & Impact on Startups, Venture Capital & Public Markets with David Friedberg
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The ongoing pandemic has resulted in people being mindful of their spending on luxury goods, which may have long-lasting effects on consumer behavior after the crisis is over.
1:03:55 - 1:11:54 (07:58)
Summary
The ongoing pandemic has resulted in people being mindful of their spending on luxury goods, which may have long-lasting effects on consumer behavior after the crisis is over. This could lead to a shift in preferences towards more practical purchases.
EpisodeE1: US Response to COVID-19 & Impact on Startups, Venture Capital & Public Markets with David Friedberg
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The possibility of the federalization of right to try laws may bring about a big shift in healthcare policy, allowing doctors and patients to try drugs at their own discretion without federal oversight.
1:11:57 - 1:16:46 (04:49)
Summary
The possibility of the federalization of right to try laws may bring about a big shift in healthcare policy, allowing doctors and patients to try drugs at their own discretion without federal oversight. However, one of the major existing problems in the healthcare system is the high regulatory burden on healthcare, pharmaceutical, and testing companies.
EpisodeE1: US Response to COVID-19 & Impact on Startups, Venture Capital & Public Markets with David Friedberg
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The emergence of HIV might have been prevented if we had addressed wet markets and the bush meat trade, which is where the virus is believed to have originated.
1:16:46 - 1:23:58 (07:12)
Summary
The emergence of HIV might have been prevented if we had addressed wet markets and the bush meat trade, which is where the virus is believed to have originated. The continuation of wet markets trading in exotic animals highlights the critical importance of cultural diversity in relation to the vice of wet markets to viruses like HIV and COVID-19.
EpisodeE1: US Response to COVID-19 & Impact on Startups, Venture Capital & Public Markets with David Friedberg
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The lack of testing and the importance of antibody testing are discussed in this episode, along with potential plans to establish "green zones" where people who have already had the virus or have tested negative for it can interact.
1:23:59 - 1:30:38 (06:38)
Summary
The lack of testing and the importance of antibody testing are discussed in this episode, along with potential plans to establish "green zones" where people who have already had the virus or have tested negative for it can interact. The hosts predict that the West Coast may reopen for business around April 7th or 8th.
EpisodeE1: US Response to COVID-19 & Impact on Startups, Venture Capital & Public Markets with David Friedberg
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The hosts thank their guest, Chamath Friedberg, and encourage listeners to follow them on social media and leave a five-star review on iTunes.
1:30:38 - 1:31:13 (00:35)
Summary
The hosts thank their guest, Chamath Friedberg, and encourage listeners to follow them on social media and leave a five-star review on iTunes.