0:00 Bestie intro and Solana Breakpoint talk 4:43 Covering the censored segment from last week, how to value crypto projects and general investing, what to take away from the podcast 30:45 Rivian's >$100B valuation, greatest CNBC hit of all time 42:06 Inflation: reacting to the CPI number, problems with MMT, strategies to curb it 1:01:34 Xi Jinping becomes China's "Supreme Leader" 1:08:35 GE, Toshiba, and J&J break up into separate businesses: is this the end of the conglomerate? Insights from PayPal breaking off from eBay, what buybacks signal 1:24:44 Besties wrap the show 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://www.wsj.com/articles/us-inflation-consumer-price-index-october-2021-11636491959 https://twitter.com/denverbitcoin/status/1458900776747737093/photo/1 https://www.dtnpf.com/agriculture/web/ag/crops/article/2021/11/10/nitrogen-fertilizer-prices-shatter-1 https://www.wsj.com/articles/u-s-tests-israels-iron-dome-in-guam-as-defense-against-chinese-cruise-missiles-11636455224 https://twitter.com/Sen_JoeManchin/status/1458443966135902221 https://fredblog.stlouisfed.org/2017/02/two-tales-of-federal-debt https://www.wsj.com/articles/chinas-xi-gains-power-as-communist-party-designates-him-historical-figure-11636635312 https://www.cnbc.com/2021/11/09/ge-to-break-up-into-3-companies-focusing-on-aviation-healthcare-and-energy.html https://www.wsj.com/articles/toshiba-like-ge-plans-to-split-into-three-parts-11636700609?st=e6zgv5yq433lvr3&reflink=article_imessage_share https://investor.pypl.com/news-and-events/news-details/2021/Response-to-Market-Rumors-of-Discussions-Between-PayPal-and-Pinterest/default.aspx https://www.marketwatch.com/story/apple-spent-nearly-20-billion-on-stock-buybacks-in-q4-at-average-prices-below-the-vwap-2021-10-29 https://www.nasdaq.com/articles/which-companies-spend-the-most-in-research-and-development-rd-2021-06-21
In this podcast, the hosts discuss their philosophy of not saying things that could cause harm and the idea that Steph Curry is playing with something to prove. They also share a theory about Swiss cheese and comment on the Warriors' current success.
The podcast discusses the importance of personal research and risk management in the crypto market, as well as the limitations of one person's opinion in such deep liquid markets. It touches on the controversy over individuals' public statements influencing crypto prices and the necessity of clear communication in the industry.
The importance of critical thinking when investing in crypto and understanding the purpose of different tokens and systems is discussed in this podcast. A comparison is drawn to the Ethereum conference of 2017 where the focus was on understanding various blockchain projects.
It's important to have confidence in your investment knowledge and not rely solely on someone else's advice. Investing in productive assets that generate value or income is crucial and macro forces must also be considered.
Investor Chamath Palihapitiya warns about the danger of suspending disbelief in certain investments and emphasizes the importance of having a unique and strong point of view when making investment decisions to consistently beat the market.
The speaker suggests that investors should be cautious when investing in startups with valuations of a billion dollars or more before seeing their products, as many companies that have obtained unicorn valuations in the past have ended up being valued lower.
The CPI has risen by 6.2% in October, the highest jump in 31 years since 1990, leading to a contagion phase of inflation where people are seeing and hearing about inflation and it is affecting how much they need to get paid for the same amount of work. This has led to a cultural shift where people are more engaged in subreddits about simple work life than in Wall Street bets.
The discussion covers several perspectives on inflation, including its potential effects on the market, potential solutions including a controlled war, and how it can affect the middle class's purchasing power.
The process of creating a company brings a significant moment of wealth, as it creates value and attracts further capital. It grants the originator a big slice of the cap table, properly acknowledging their work and contribution.
The issue with conglomerates is that there is very little synergy between the various businesses they acquire. To increase shareholder value, it's best to split these businesses up and focus on capital allocation to the best performing ones.
IBM has bought back $132 billion of stock while its market cap has gone down to $113 billion in the last 15-20 years, indicating a lack of ambition and ideas. Companies engaging in this practice have no incentive to invest in R&D or other areas, leading to potential economic consequences.
The presence of engineers on staff and a focus on in-house research and development differentiate true tech companies from traditional ones that outsource R&D to third-party companies.
This podcast episode highlights the importance of investing in high return businesses and provides examples of successful companies with great returns on investment.
In this episode, the hosts discuss David Sacks' skills in various games, including Kenoa, as well as the tension in the air.