Episode
#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
2:16:30
Published: Mon Feb 15 2021
Description
Jason Calacanis is an angel investor, entrepreneur, and co-host of All-In Podcast and This Week in Startups. Please support this podcast by checking out our sponsors: - Brave: https://brave.com/lex - Linode: https://linode.com/lex to get $100 free credit - Four Sigmatic: https://foursigmatic.com/lex and use code LexPod to get up to 60% off - Rev: https://rev.ai/lex to get 7-day free trial EPISODE LINKS: Jason's Twitter: https://twitter.com/Jason Jason's Website: https://calacanis.com/ Jason's YouTube: https://www.youtube.com/user/ThisWeekIn Jason's Link Tree: https://linktr.ee/calacanis All-In Podcast: https://linktr.ee/allinpodcast This Week in Startups Podcast: https://thisweekinstartups.com/about/ PODCAST INFO: Podcast website: https://lexfridman.com/podcast Apple Podcasts: https://apple.co/2lwqZIr Spotify: https://spoti.fi/2nEwCF8 RSS: https://lexfridman.com/feed/podcast/ YouTube Full Episodes: https://youtube.com/lexfridman YouTube Clips: https://youtube.com/lexclips SUPPORT & CONNECT: - Check out the sponsors above, it's the best way to support this podcast - Support on Patreon: https://www.patreon.com/lexfridman - Twitter: https://twitter.com/lexfridman - Instagram: https://www.instagram.com/lexfridman - LinkedIn: https://www.linkedin.com/in/lexfridman - Facebook: https://www.facebook.com/LexFridmanPage - Medium: https://medium.com/@lexfridman OUTLINE: Here's the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time. (00:00) - Introduction (06:52) - WallStreetBets and Robinhood (17:58) - How does the WallStreetBets saga end? (21:09) - Capitalism (26:30) - Ideas vs Execution (27:38) - Learning to learn (33:06) - Risk-aversion (39:07) - Robinhood (47:33) - Parler and AWS (49:59) - Social networks (56:33) - Leadership (1:01:21) - Work-life balance (1:09:44) - Great leaders lead by example (1:17:30) - Advice for startup founders (1:21:57) - Clubhouse (1:22:42) - When will we fully re-open the economy (1:33:20) - Augmented reality (1:36:48) - When should a startup raise money? (1:43:44) - David Goggins (1:45:40) - Disagreement with Chamath Palihapitiya (1:58:52) - Story about Elon Musk's darkest moments (2:07:08) - Friendship
Chapters
Entrepreneur and investor Jason Kallikanis joins the conversation to discuss the Wall Street Bets, GameStop, and Robinhood situation, offering insights on human nature and the underlying systems of society.
00:00 - 02:11 (02:11)
Summary
Entrepreneur and investor Jason Kallikanis joins the conversation to discuss the Wall Street Bets, GameStop, and Robinhood situation, offering insights on human nature and the underlying systems of society.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
The transcript includes advertisements for Foursigmatic, Rev.ai, and Linode.
02:11 - 06:58 (04:47)
Summary
The transcript includes advertisements for Foursigmatic, Rev.ai, and Linode.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
A man describes how he was convinced to invest in a startup that aims to incentivize people without an interest in saving for the future to trade by offering free stock trading.
06:58 - 10:43 (03:44)
Summary
A man describes how he was convinced to invest in a startup that aims to incentivize people without an interest in saving for the future to trade by offering free stock trading.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
In this episode, the hosts talk about the unexpected success of distributed systems, including Wikipedia and rental platforms for homes, as well as the surprising functioning of the stock market when it comes to short selling.
10:43 - 16:34 (05:50)
Summary
In this episode, the hosts talk about the unexpected success of distributed systems, including Wikipedia and rental platforms for homes, as well as the surprising functioning of the stock market when it comes to short selling.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
The speaker compares the process of learning how to play poker to taking risks in life.
16:34 - 20:33 (03:59)
Summary
The speaker compares the process of learning how to play poker to taking risks in life. They argue that while some individuals may struggle with controlling their actions, society should not limit the average person's behavior based on the actions of a few.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
This podcast episode discusses the idea of making the entrepreneur the hero of society as a way out of the difficult situations the US is going through.
20:33 - 26:34 (06:01)
Summary
This podcast episode discusses the idea of making the entrepreneur the hero of society as a way out of the difficult situations the US is going through. However, some argue that this idea is often supported by people of great privilege who believe that poor people cannot change much and that less competition can lead to odd outcomes.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
The ability to learn a new skill is a valuable asset to have in life.
26:34 - 30:13 (03:38)
Summary
The ability to learn a new skill is a valuable asset to have in life. Tim Ferriss is a prime example of someone who has mastered the art of quick learning and can comprehend up to 70% of a new skill in a short amount of time.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
A discussion about the seriousness of COVID-19 and the importance of taking the virus seriously, despite lower risk for some individuals.
30:13 - 35:33 (05:20)
Summary
A discussion about the seriousness of COVID-19 and the importance of taking the virus seriously, despite lower risk for some individuals.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
The debate over challenge trials for coronavirus and the ethical implications of Robinhood's popularity during a volatile market.
35:33 - 43:32 (07:58)
Summary
The debate over challenge trials for coronavirus and the ethical implications of Robinhood's popularity during a volatile market.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
The spread of new startups and companies is heavily influenced by social networks and the internet, while billionaires are now interviewing key players in major financial battles, which is shaping a possibly new era.
43:32 - 47:36 (04:04)
Summary
The spread of new startups and companies is heavily influenced by social networks and the internet, while billionaires are now interviewing key players in major financial battles, which is shaping a possibly new era.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
Parler and AWS are competing for market share.
47:36 - 52:50 (05:13)
Summary
Parler and AWS are competing for market share.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
The creative process in startups can be tense and dramatic, especially in the early stages, and it's not about achieving work-life balance.
52:50 - 1:02:15 (09:24)
Summary
The creative process in startups can be tense and dramatic, especially in the early stages, and it's not about achieving work-life balance. The focus should be on delivering results similar to Michael Phelps, Michael Jordan, Elon Musk or Jeff Bezos.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
The booming economy of China is pushing them out of the market for factories, leading to moving them to other countries.
1:02:15 - 1:09:15 (07:00)
Summary
The booming economy of China is pushing them out of the market for factories, leading to moving them to other countries. Despite the significant amount of poverty in China, the war issues in Iraq and the Middle East have made us overlook the country's struggles.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
Startup founders face numerous challenges such as financial instability, loss of key employees, and the pressure of immigrant parents who have worked hard to provide for their children's future.
1:09:15 - 1:13:14 (03:59)
Summary
Startup founders face numerous challenges such as financial instability, loss of key employees, and the pressure of immigrant parents who have worked hard to provide for their children's future.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
The podcast host talks about how asking simple "what if" questions can lead to innovation in engineering, using examples like making their own batteries and improving shipping times.
1:13:15 - 1:18:38 (05:23)
Summary
The podcast host talks about how asking simple "what if" questions can lead to innovation in engineering, using examples like making their own batteries and improving shipping times.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
In this podcast episode, the speakers discuss the importance of building a great team in order to build a successful product.
1:18:38 - 1:22:07 (03:28)
Summary
In this podcast episode, the speakers discuss the importance of building a great team in order to build a successful product. They also touch on the idea of streaks in social media and the obsession with maintaining them.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
The speaker predicts that by April, anyone can get vaccinated, daily deaths will drop below 200, and people will be able to be thoughtful with technology's help.
1:22:07 - 1:26:36 (04:29)
Summary
The speaker predicts that by April, anyone can get vaccinated, daily deaths will drop below 200, and people will be able to be thoughtful with technology's help. However, it may not be until mid-summer until restrictions start to ease up again, assuming there isn't a second major wave.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
The idea of FOMO or fear of missing out only perpetuates anxiety and negative feelings.
1:26:36 - 1:31:28 (04:51)
Summary
The idea of FOMO or fear of missing out only perpetuates anxiety and negative feelings. Instead, we should focus on finding positive and helpful people to follow on social media to expand our worldview.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
The venture capital community only funds a small percentage of enterprises started in the United States, which makes it essential to find innovative ways to connect with diverse groups of people.
1:31:28 - 1:37:54 (06:26)
Summary
The venture capital community only funds a small percentage of enterprises started in the United States, which makes it essential to find innovative ways to connect with diverse groups of people. Clubhouse has resonated because it provides a way to drop into conversations with people who are vastly different from ourselves and allows us to find ways to connect with others via a diverse array of interests.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
Venture capital funds have a high expectation of triple returns in 10 years, through the investment of 30 names, with one or two companies returning three times the capital deployed, a much higher return than the stock market in the same period.
1:37:54 - 1:43:43 (05:48)
Summary
Venture capital funds have a high expectation of triple returns in 10 years, through the investment of 30 names, with one or two companies returning three times the capital deployed, a much higher return than the stock market in the same period.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
This podcast talks about a motivational speaker who spends a few months a year fighting forest fires as unpaid labor, and the partnership that exists between his two careers.
1:43:43 - 1:46:33 (02:50)
Summary
This podcast talks about a motivational speaker who spends a few months a year fighting forest fires as unpaid labor, and the partnership that exists between his two careers.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
The speaker discusses the prevalence of conspiracy theories, such as the Trump-Russia collusion, which arise due to a lack of information and a desire to be loyal to one's investments and partners.
1:46:33 - 1:51:01 (04:27)
Summary
The speaker discusses the prevalence of conspiracy theories, such as the Trump-Russia collusion, which arise due to a lack of information and a desire to be loyal to one's investments and partners. The speaker also mentions a private discussion with Chamath Palihapitiya about their differing views.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
The podcast speaker discusses a recent vacation he took and a friend who felt triggered by it due to his belief that he is fighting for the every man.
1:51:01 - 1:53:21 (02:20)
Summary
The podcast speaker discusses a recent vacation he took and a friend who felt triggered by it due to his belief that he is fighting for the every man.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
This podcast episode discusses the dangers of online social media usage, particularly on platforms like Twitter, which can expose users to stalking, doxing, harassment and other similar threats.
1:53:21 - 1:56:33 (03:11)
Summary
This podcast episode discusses the dangers of online social media usage, particularly on platforms like Twitter, which can expose users to stalking, doxing, harassment and other similar threats.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
The podcast explores the role of love, family, and friendship in building a startup and creating something new.
1:56:33 - 1:59:45 (03:11)
Summary
The podcast explores the role of love, family, and friendship in building a startup and creating something new. The host also discusses how we should be supporting each other during times of crisis instead of attacking one another.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
The speaker shares a story about placing a reservation for a Tesla and discusses an article claiming that Tesla only had five weeks of money left.
1:59:45 - 2:05:07 (05:21)
Summary
The speaker shares a story about placing a reservation for a Tesla and discusses an article claiming that Tesla only had five weeks of money left. Suddenly, the speaker receives a reservation number for a Tesla.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
In a podcast with Sam Harris, the speaker recounts how little checks and being a journalist led to making a career and how the thought of reaching out to millions of people through a podcast can help to overcome insecurities and imposter syndrome.
2:05:07 - 2:12:40 (07:33)
Summary
In a podcast with Sam Harris, the speaker recounts how little checks and being a journalist led to making a career and how the thought of reaching out to millions of people through a podcast can help to overcome insecurities and imposter syndrome.
Episode#161 – Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship
PodcastLex Fridman Podcast
In this podcast, the speaker shares a heartwarming letter from a turtle who survived the seagulls and appreciated the speaker's help and counsel.
2:12:40 - 2:16:25 (03:44)
Summary
In this podcast, the speaker shares a heartwarming letter from a turtle who survived the seagulls and appreciated the speaker's help and counsel. The speaker reflects on how important it is to have people who are instrumental in our lives.