I agree 100. I do think that J is a little disrespectful at time’s interrupting and talking over. However if the other three are okay with it then who am I to say. To all 4 and sometimes 5 of you, thank you for supplying a channel that is thoughtful, informative and entertaining. Cheers 🤙❤️
J- Cal seems unable to acknowledge or articulate nuance that is beyond simplistic nonsense spouted in the mainstream media. He should recognize that foreign policy is not his domain of competence and defer to the adults in the room.
I also appreciate that it represents a type of thought and perspective as well - I do think that a softer more reflective approach with him that tries and identifies the fallacies constructively similar to chamaths approach
Sacks is way more idealistic, but the only difference is his idealism runs opposite to jasons. But both of them are equally off the mark from Russia/Ukraine stuff, but not equally. If jason is orbiting the proverbial truth from stratosphere, Sacks is the distant star burning in gas of lies and flawed game theory projections made by communists in academia
@@kirathekillernote2173 Sacks is a Realist both figuratively and literally. Jason is a Liberal Interventionist, after the Korean War. Every intervention made by the US has created more disruption and destruction. Idealistic policies have resulted in failure after failure.
As someone who lives in a place where debate is not encourage and people avoid healthy conversation about differences, I'll take any form of JCal and Sacks "interaction" any day of the week in order to challenge my personal comfort zone. Friedberg, we miss you and Congrats!
What do you guys mean Chamath couldn’t say anything 😂 it’s not like it’s a bad thing right? He got opportunities none of us have he should use them or no?
Sacks just nails it on his points about the war. Agree with him 💯. There should be more effort in peace talks, not fueling a proxy war on the backs of the Ukrainian people. This is no different than Iraq, Afghanistan, Iran...
This episode is pure gold, and I'm hardly half way through. Thanks for making the effort to explain several of the concepts at a fairly basic level! It's incredibly helpful.
Chamath had a suprisingly great take on not screwing over employees/earlier entrants with a recap. The others had a sense of it just being business, even when it was one of their own (sequoia) getting screwed this time.
Yes. This is absolutely true. Lots of employees are getting screwed big time because of these. Most Employees' salaries are stock based. What's worse - Imagine an employee buying Instacart options when their valuation was at $39 Billion or somewhere close to that and suddenly the valuation goes down to $10B. They face a HUGE tax bill simply because of how taxes work - they have to pay taxes on expected returns at the time of purchase rather than actual returns. This is despite the fact that they own options that are close to fully illiquid. Most take out loans to pay but they suddenly have 0 possibility of returns and are stuck in this debt cycle that screws up years of their lives (if they are ever able to repay those loans).
@@bayefoil940it's very common. Companies pay other companies to calculate a private valuation; this is an integral part of fundraising rounds (you raise money in exchange for ownership at that valuation )
Not unlike the level of Jason’s understanding of domestic policy and issues. Jason: “I don’t understand, the govt told us unemployment is the best ever at only 1%, how could investors believe the economy is bad?”
Hes not he is just tired of playing the role of shitlib and getting made fun of . He doesnt actually hold the shitlib beliefs he just espouses them to "fit in" now hes appearing more red pilled to "fit in" here. An intellectually strong but morally weak person. You can see it in his face he kind looks like a weasel.
Jason, I really love you and your eagerness to broadcast your and your compatriots knowledge to the masses. As a loyal fan I wanted to provide some feedback from my heart: When you strech David's and other peoples words either consciously or subconsciously (ex telling David "Youre saying we provoked them" right after David is steelmanned the Russian position) you dilute your own brilliance. I hate seeing the besties think you have a lackluster position on things because I largely agree with you on stuff, but when you make lapses of integrity to make your position seem better or win with crafty words or statements the unintended but real consequences is that it makes your ideals less credible. You have created one of the best forms of content I consume across multiple channels, and I want you to go from A+ to A++. Thanks for everything you do.
Nah, I prefer bipartisan discussion. A sachs show would just be Conservative Republican. I like sachs and agree with him on many things, but I actually side with JCal on Russia-Ukraine. Russia will murder everyone if left to their own devices, it's pretty obvious.
Chamath getting called out by Brad on the goosey goosey comments was hilarious and completely explains their competitive nature. He even shows this side when talking on Lexs pod and calls out Brad.
@@alexi2460 Yeah but 3 month tbills cannot price 2% rate hikes as at best fed might raise 75 bps by then. So Chamath was clearly throwing up a number to attract attention. It is just not possible to offer a higher than the market tbill rate unless there is some risk involved. So my guess is that it was some subordinated bank debt with credit risk in it. That can only explain the 2% higher than the market rate.
Except the fact, they are loving Foie gras 😮 Such brutal way they force feed those ducks to enlarge their liver with extra fat to a point these ducks lives their short lives in such a torture 😢 I’m a huge fan of AIP. I just looked up what the hell is Foie gras lol😅
Thank you Jason for taking a step back to ask people to explain a few of the things you were talking about. With all the investing talk it was pretty heavy on buzzwords / acronyms and I had no idea what people were talking about for chunks of this!
I think what J Cal needs to understand is that not every country runs foreign policy based on what the west believes is 'good for the world'. Countries in the east can't afford to have such policy, they NEED to act in their own interests
You're right. Then let them trade with each other and not us. They want to live in shitholes governed by authoritarian regimes, so be it. But do it on their own dime, not by accessing the Western World's markets and financing. The West should never let it's rivals legitimize their rule with our money, western rules of law, property rights etc.. Look at China and Russia. That's what happens when we play Kumbaya with Dictatorships...Time to pick sides....If you think they are so great, try living and doing business in one of these shitholes...You'll be singing a new tune real quick,
@@Telluwide I'm not for dictators and as an Indian I'm a proud proponent of democracy. What I'm saying is that sometimes countries have their own interests which are not aligned with the west. India purchased oil from Russia during this period, for example, because it needs cheap energy and can't care about western policy
@@AumRaithatha India isn’t a real democracy. It’s a Democracy in name only that still runs on a caste system…has systemic religious, caste and gender oppression and basically Mohdi will be the new Putin.
I honestly love when you guys get into foreign policy and geopolitics. Although it’s not your specialty all 4 of you seem well read enough to have an intelligent discussion on it, without it coming across as naive or partisan or misinformed.
Terrific as usual, I always learn something about business evaluation. 5 is a good number, Brad should come on more often. Elephant in the room is AI's global application. Musk recently put AI on the ultimate pedestal. Tictok is banned in India
Great episode gentlemen!!! I do love the arguments between JCal and Sac's, say what you will, it makes it a fun learning experience and proof that we can all have different views and still be able to respect each other. Also, props to JCal looking out for the inexperienced investor: if he didn't take a moment to help us understand them, most of these investment concepts will just blow past us.
Great great great podcast. The disagreement among smart people is very positive and educational. It shows difficult problems are very complex and don’t have simple single minded solution. Thank you so much !
I agree with Sacks, no one should be promoting anything written by corporate media. kinda pathetic to see grown men salivate over gossip columns….gross
Making the Fridays better as usual. Thanks for sharing, Besties! Also great to see the relationship between all of you guys are getting more sincere with each episode. Not just the jokes but also the mutual respect and patience have visibly improved!
This has now become my absolute favourite thing on TH-cam. I sincerely hope that you guys continue forever. Thank you so much for this valuable source of information and quality debate.
Chamath, I would like to thank you for your talk on the Waterloo engineering and Lex Fridman podcast. You said so many things that I’ve only wish I could explain to certain people, but I am not that intellectually well spoken. I’m pretty sure I’m going to listen To those talks again in the future, and always listen to the all in podcast but thank you for giving your time and being a selfless human being. I appreciate you a lot just like I know so many others.
I like Jason and I like everyone else on the podcast . Everybody together really makes the conversation feel alive I never want it to end which is crazy because I can barely watch 30 minutes of just about any other podcast
Distributed to Paid-In Capital (DPI) is a term used to measure the total capital that a private equity fund has returned thus far to its investors. It is also referred to as the realisation multiple.
The Musk effect is real. And when people started working from home, it blasted a spotlight on all the tremendous inefficiencies that had built up in these companies.
For real, just look at Twitter. The headcount is down ~80%, no more incredibly priced free lunches... I'm sure there's way more behind the scenes that is gone now. Plus Twitter Community notes and other game-changing applications on their way? Unreal that many people still don't like him. Best combo businessman/capital allocater/engineer bar none.
@@deenzmartin6695 uh yeah it does. If you can hire people remotely and pay them half of what you would pay Americans, that sounds a lot cheaper/efficient
@@deenzmartin6695 valid but idk I would also say working from home encourages a more efficient environment because everything is more measurable in an online digital environment unlike in an office where there are more unmeasurable things like office politics, social credit in the office, etc. that ultimately probably aren’t the best use of company resources. At the same time I’m pretty sure musk does mostly prefer working in person so yeah I guess WFH isn’t necessarily tied to musks management style
BTW - best Brad appearance. @ 26:20 really provides a great counterpoint to Chamath. I love the Dictator, but LPs etc are clearly Brad's business and he provides some very clear minded input here.
@@joshuadarke446 You need to read Russian/Ukrainian histories or at least Putin's article from 2021, but in short: Russia wants to control Ukraine (historical reason), however in 2004 and 2013 revolutions in Ukraine shown that Ukrainian people are willing to be with Europe rather than with Russia (at the same time Ukrainian people voted against joining NATO). The 2013 revolution was the final deciding factor to start the war with Ukraine, and Russia took over Crimea and eastern part of Ukraine. In 2022 they just proceeded with the second stage of the war with the goal to occupy whole Ukraine.
Two comments: 1. A tweet was referenced that 43% of white Harvard students are legacy, athletes, or from donors or contributors. Jason and others immediately assumed there was unfair bias and they weren't qualified on merit. Without knowing the why that's quite a prejudiced assumption. (Was generating his type of response the intent of the tweet?) 2. The athlete advocating getting rid of black history month an teaching black history all year. I agree with the first point and disagree with the second. Why? Teaching "black history" is by definition discriminatory and subjectively biased. In replacement of the second point, teach "American" history that includes all of us. The long-standing de facto national motto is "E Pluribus Unum", which translates to "From many to one."
You make two good points. Not sure why Chamath thought that Dramon was so brilliant. He is just an athlete and I don't want my children learning the hate and re-written history his ilk want to add.. I have no problem adding more black American's significant contribution to our overall American history, but I have a feeling what Dramon means is adding "black man good-white man bad" crap.
It is a bit of a tricky question regarding the legacy .... I mean these are not public institutions they are private. If someone's grandfather donates 100 million to the university is it really that unreasonable that his grandson gets in as a legacy entry ?
Here is the breakdown of the value brought to the podcast in my cap table: David S. holds 60%, David F. holds 20%, Chamath holds 18%, and finally, Jason holds the smallest percentage at 2%.
A lot of besties get touted in the comments for their contributions to the show. here's one for Chamath. Chamath is excellent (probably the best of the crew) when he doesn't have an opinion. He asks the best and insightful questions to aid the listener. You can tell thats a huge part of his value in business. GG chamath.
What an amazing episode, kudos besties. Bret shud be on all episodes. His insights are amazing. The praz article that dictator mentioned shud be a topic sometime in all in podcast
In regards to the federal government requiring the removal of TikTok from federal devices, I agree with that move 100%. However, the reason for this isn't what most people might expect. No governmental devices should have any form of social media or other user-installed apps on them unless they are installed by the IT department if the app is required for their job. It's government-owned equipment, not your personal equipment. Public and private corporations do this regularly, so why shouldn't the government do it?
I don’t have any data but private companies seem to be going the opposite direction in my experience. There’s no reason to carry around two laptops and two cell phones in 2023. And there’s reduced need for an IT department when people increasingly work remotely and primarily connect to cloud applications. But yes, Chinese spyware should not be on government devices.
Min 33:44. Absolutely spot on. I've seen start-ups do this mistake in 2022/2023. Dissolve the team without realizing if they don't have a team they have nothing.
Every single time Russia and Ukraine is brought up I am disgusted by Davids take on NATO expansion and "coups in Ukraine". To him there are only 3 actors in the world: Russia, US and China with none of the other people between them having any self determination or goals. Also again, seems a bit naive to think if the NATO stopped at West germany that Russia would not expand and attack other countries.
Sacksy-Poo is and has always been my favourite. He is so methodical and rational in thought and communication. Jason must back off slightly and stop twisting Sacks words. Its high schoolish
Very American point of view to talk about what should happen to Ukraine without considering the fact that Ukraine is an independent country and its citizens have clearly declared where they want to belong. This is usually the problem with political realism, ignoring any local nuances and acting like every country outside of US, China and Russia is just a pawn on the map, then getting surprised when it turns out that the local population actually has a will of its own.
Would love to see more edits where we could see all of or multiple of the besties at the same time. Example: I suspect it would be fun to see Sacks face when Jcal is talking i think 😉
1:47:35 I think the best argument I've heard for legacy admission for places like Harvard is that whether they are pretending its not true or not they were kind of set up to be a mingling places for rich/influential people to make connections with smart people, I think the issue is more them saying they don't do it. There's arguably a demand for that and then there's like MIT filling the entirely merit based role but wouldn't really mind if they all got rid of legacy personally. Though I think they might have a very off perspective on how many poor people are making it into the Ivy league of the non-legacy admissions, the non-legacy are still basically all rich and who's parents went to a good school just a different one.
It's how you pay for it. If you don't take public money ( or government guaranteed ) you shouldn't be allowed to do favors. Be private and do what you want.
David Sach spoke the truth, called a spade a spade, not taking sides - just calling it out. J Cal wanted to make a thread stand, and keep up a moral ground. Both are correct.
I respect that Jason & David can have impassioned debates & still be friends. It helps give a nuanced perspective to thorny issues. Keep it up folks
Definitely
Most of the word is incapable of this so it sets a good example
I agree 100. I do think that J is a little disrespectful at time’s interrupting and talking over. However if the other three are okay with it then who am I to say. To all 4 and sometimes 5 of you, thank you for supplying a channel that is thoughtful, informative and entertaining. Cheers 🤙❤️
I enjoyed David's perspective - I find it difficult when J-Cal is arguing because I feel like he argues emotionally and stops listening.
Jcal is and plays the foil. It's an important part of all commercially successful infotainment
J- Cal seems unable to acknowledge or articulate nuance that is beyond simplistic nonsense spouted in the mainstream media. He should recognize that foreign policy is not his domain of competence and defer to the adults in the room.
I also appreciate that it represents a type of thought and perspective as well - I do think that a softer more reflective approach with him that tries and identifies the fallacies constructively similar to chamaths approach
Sacks is the wise father and Jason is the idealistic son. You need them both.
Sacks is way more idealistic, but the only difference is his idealism runs opposite to jasons. But both of them are equally off the mark from Russia/Ukraine stuff, but not equally. If jason is orbiting the proverbial truth from stratosphere, Sacks is the distant star burning in gas of lies and flawed game theory projections made by communists in academia
@@kirathekillernote2173 Sacks is a Realist both figuratively and literally. Jason is a Liberal Interventionist, after the Korean War. Every intervention made by the US has created more disruption and destruction. Idealistic policies have resulted in failure after failure.
Jason is the absolute worst
Jc is a champagne soliclist
Idealist? More a lying phoney!
I love how they can have a full blown argument and still be besties this is the way it should be. Love the show.
Because as investors they are ultimately seeking the truth so arguments aren’t personalized. What the whole world needs.
It's how intelligent adults act. There seem to be a dwindling number these days, but I know they're out there.
As someone who lives in a place where debate is not encourage and people avoid healthy conversation about differences, I'll take any form of JCal and Sacks "interaction" any day of the week in order to challenge my personal comfort zone. Friedberg, we miss you and Congrats!
We need more mindsets like yours! 💯
Thank god Jason isn’t in public office
I could listen to Sacks talk geopolitics all day!
Chamath's face when Brad called him "loosey-goosey" 😅
I mean he said he was getting 6.5% on a t-bill which is just not true for any duration right now😂
@@isthisPG 26:32
@@therJrep Sacks nailed it - That rate was a special for Billionaires. That wasnt a common product offering.
What do you guys mean Chamath couldn’t say anything 😂 it’s not like it’s a bad thing right? He got opportunities none of us have he should use them or no?
Just to correct I mean he does look like he couldn’t say anything I’m saying why he should be proud he can get such a rate right?
Jason, thanks for asking the others to define their acronyms for us. It makes a huge difference in my ability to follow the discussions 🙏
Damn David sacks lite up Jason at the end!!!
Sacks certainly the diamond of the show
He is incredible
On business, yes. On politics, no, incredibly predictable and boring.
@@yourelawyered He's the typical example of the term 'useful idiot' when it comes to autocrats
@@mateszed how so?
All in quickly became one of my favorite podcasts. Keep up the great work! Thanks.
Sacks just nails it on his points about the war. Agree with him 💯. There should be more effort in peace talks, not fueling a proxy war on the backs of the Ukrainian people.
This is no different than Iraq, Afghanistan, Iran...
Well Sacks wants to give away Ukrainian lands to peace Russia. He would give everything to peace Hilter if we would live during WW2
Did y’all see Chamath’s face when Brad made fun of his preferred interest rate? 😂😂😂😂
No what time was it at?
@@unspoken2409 26:03
Best part of the show
What did Brad mean? And why was that making fun of him? That went right over my head.. can someone pls explain
he def took that personally haha chamath has way too much pride and ego
This episode is pure gold, and I'm hardly half way through. Thanks for making the effort to explain several of the concepts at a fairly basic level! It's incredibly helpful.
Where’s my boy Friedman!? Need that science corner!
They said where in the second minute of episode lol
sceience suks
No one has a better and more eclectic backdrop than Brad. Family pictures, lit candles, tea pot, and bottle of Tequila. So much to unpack there!
Chamath had a suprisingly great take on not screwing over employees/earlier entrants with a recap. The others had a sense of it just being business, even when it was one of their own (sequoia) getting screwed this time.
investors put in money.
Yes. This is absolutely true. Lots of employees are getting screwed big time because of these. Most Employees' salaries are stock based. What's worse - Imagine an employee buying Instacart options when their valuation was at $39 Billion or somewhere close to that and suddenly the valuation goes down to $10B. They face a HUGE tax bill simply because of how taxes work - they have to pay taxes on expected returns at the time of purchase rather than actual returns. This is despite the fact that they own options that are close to fully illiquid. Most take out loans to pay but they suddenly have 0 possibility of returns and are stuck in this debt cycle that screws up years of their lives (if they are ever able to repay those loans).
Now if he'd stop screwing over retail he might become a decent human.
@@bayefoil940it's very common. Companies pay other companies to calculate a private valuation; this is an integral part of fundraising rounds (you raise money in exchange for ownership at that valuation )
what a freaking epsiode.,one of those ones where its so nice you need to watch it twice!
David Sachs' arguments are so rock solid, I love it.
I daydream of listening to an unedited version of this show. In the dream it’s even better than the current greatness it is.
When Sacks responds, "First of all, you are trying to teeth this as some giant dunk on me" cracked me up - the guy has his way with semantics!!!
“Tee this up as…”. Not “teeth this”…
The level of Jason's understanding of foreign policy is about as mature as a five years old...
A bit harsh.
Lmao which Jason
Not unlike the level of Jason’s understanding of domestic policy and issues. Jason: “I don’t understand, the govt told us unemployment is the best ever at only 1%, how could investors believe the economy is bad?”
@@Gutenmorgenside “harsh” is what some describe the kinda of truths people don’t want to hear
So dumb opinions coming from him...
I enjoy tuning in, each time, to watch Jason get red-pilled, slowly, methodically. It's the preverbal "frog-in-water" analogy.
Love to see it. But I feel like Jason pretends to be more red-pilled than he actually is to avoid scrutiny.
Hes not he is just tired of playing the role of shitlib and getting made fun of . He doesnt actually hold the shitlib beliefs he just espouses them to "fit in" now hes appearing more red pilled to "fit in" here. An intellectually strong but morally weak person. You can see it in his face he kind looks like a weasel.
only for molly to blue pill him the day after on TWIS
I love having brad on, can’t get enough of him
Jason, I really love you and your eagerness to broadcast your and your compatriots knowledge to the masses. As a loyal fan I wanted to provide some feedback from my heart: When you strech David's and other peoples words either consciously or subconsciously (ex telling David "Youre saying we provoked them" right after David is steelmanned the Russian position) you dilute your own brilliance.
I hate seeing the besties think you have a lackluster position on things because I largely agree with you on stuff, but when you make lapses of integrity to make your position seem better or win with crafty words or statements the unintended but real consequences is that it makes your ideals less credible. You have created one of the best forms of content I consume across multiple channels, and I want you to go from A+ to A++. Thanks for everything you do.
If sacks has his own show the all in podcast would crater. Half the people tune in for sacks. I know I do.
Nah friedberg way smarter than sacks. Sacks has a penchant for being apologists for dictators.
100%! David Sacks could produce an awesome pod. It’s painful listening to Jcal.
Must suck to be your friend
Amen!
Nah, I prefer bipartisan discussion. A sachs show would just be Conservative Republican. I like sachs and agree with him on many things, but I actually side with JCal on Russia-Ukraine. Russia will murder everyone if left to their own devices, it's pretty obvious.
Chamath getting called out by Brad on the goosey goosey comments was hilarious and completely explains their competitive nature. He even shows this side when talking on Lexs pod and calls out Brad.
I think Chamath meant that rates at swiss bank were unusually higher at 6+. In addition it is rumored that the FEDS could go to 6%.
@@alexi2460 Yeah but 3 month tbills cannot price 2% rate hikes as at best fed might raise 75 bps by then. So Chamath was clearly throwing up a number to attract attention. It is just not possible to offer a higher than the market tbill rate unless there is some risk involved. So my guess is that it was some subordinated bank debt with credit risk in it. That can only explain the 2% higher than the market rate.
Great show. Loved the interchange between Sacks and JCal.
I like that they’re unapologetically rich and enjoying life. It gives me more motivation.
Except the fact, they are loving Foie gras 😮
Such brutal way they force feed those ducks to enlarge their liver with extra fat to a point these ducks lives their short lives in such a torture 😢
I’m a huge fan of AIP. I just looked up what the hell is Foie gras lol😅
@@ichoudhury007 - Good point - yea the Foie Gras thing isn’t good.
@@ichoudhury007 that’s gross bro. Isn’t there enough good food 😂
Thank you Jason for taking a step back to ask people to explain a few of the things you were talking about. With all the investing talk it was pretty heavy on buzzwords / acronyms and I had no idea what people were talking about for chunks of this!
I think what J Cal needs to understand is that not every country runs foreign policy based on what the west believes is 'good for the world'. Countries in the east can't afford to have such policy, they NEED to act in their own interests
You're right. Then let them trade with each other and not us. They want to live in shitholes governed by authoritarian regimes, so be it. But do it on their own dime, not by accessing the Western World's markets and financing. The West should never let it's rivals legitimize their rule with our money, western rules of law, property rights etc..
Look at China and Russia. That's what happens when we play Kumbaya with Dictatorships...Time to pick sides....If you think they are so great, try living and doing business in one of these shitholes...You'll be singing a new tune real quick,
@@Telluwide I'm not for dictators and as an Indian I'm a proud proponent of democracy. What I'm saying is that sometimes countries have their own interests which are not aligned with the west. India purchased oil from Russia during this period, for example, because it needs cheap energy and can't care about western policy
@@AumRaithatha India isn’t a real democracy. It’s a Democracy in name only that still runs on a caste system…has systemic religious, caste and gender oppression and basically Mohdi will be the new Putin.
@@jimbaker5110 Fantastic. Good to see Soros is infuencing you with his bullshit agenda
@@AumRaithatha I don’t know who that is. But I know you need to grow up and learn proper hygiene
1:39:19 start of sacks fireball. UNREAL. Such a boss.
JayCal we love you and you are the best moderator but in geopolitics you need more realism and less rosy glasses. Start with Machiavelli's Prince
perhaps best episode I've seen. Loaded with good info! Thanks Besties! Oh, and Sacks crushed it against Jcal.
I honestly love when you guys get into foreign policy and geopolitics. Although it’s not your specialty all 4 of you seem well read enough to have an intelligent discussion on it, without it coming across as naive or partisan or misinformed.
a big YES! to ending every episode with a culture segment; whether its long reads or fashion or food or travel...etc. that would be great and fun.
I would love to get more book / TV / movie etc recommendations from these guys...
I've said it before and I'll say it again - Sacks is a national treasure!
As long as he sticks to business and local politics and avoids global politics
Terrific as usual, I always learn something about business evaluation. 5 is a good number, Brad should come on more often. Elephant in the room is AI's global application. Musk recently put AI on the ultimate pedestal. Tictok is banned in India
Sacks is brilliant as usual.
To bad his politics is all anti-establishment platitudes. Not a single interesting thought on politics. Not that Jason is any better.
Great episode gentlemen!!! I do love the arguments between JCal and Sac's, say what you will, it makes it a fun learning experience and proof that we can all have different views and still be able to respect each other. Also, props to JCal looking out for the inexperienced investor: if he didn't take a moment to help us understand them, most of these investment concepts will just blow past us.
I agree but Jason could interrupt a little less..
Great great great podcast. The disagreement among smart people is very positive and educational. It shows difficult problems are very complex and don’t have simple single minded solution. Thank you so much !
What a terrific episode. well done, bestie's. Missed the Sultan of Science, but teriffic to see Brad
I miss Friedberg, but I found out that there are many interviews with him that I haven't seen yet. I will be watching them this week 😅
I agree with Sacks, no one should be promoting anything written by corporate media. kinda pathetic to see grown men salivate over gossip columns….gross
Making the Fridays better as usual.
Thanks for sharing, Besties! Also great to see the relationship between all of you guys are getting more sincere with each episode. Not just the jokes but also the mutual respect and patience have visibly improved!
13 years old is the age of consent in Japan the fat guy may be a pervert? 🤷
This has now become my absolute favourite thing on TH-cam. I sincerely hope that you guys continue forever. Thank you so much for this valuable source of information and quality debate.
When will Chamath ever explain Opendoor, Clov, Sofi and SPCE.
amen.
Completely agree with david on ukraine
We need a SVB special pod ASAP.
For sure, but I worry that one or more of the fellas have significant exposure to SVB and might be too preoccupied to put out an episode this week 😢
@@tc-crypto5419 Yeah i was thinking the same, they are probably scrambling to get their companies and own money safe last 2 days
Ready for the David Sacks podcast.
Chamath, I would like to thank you for your talk on the Waterloo engineering and Lex Fridman podcast. You said so many things that I’ve only wish I could explain to certain people, but I am not that intellectually well spoken. I’m pretty sure I’m going to listen To those talks again in the future, and always listen to the all in podcast but thank you for giving your time and being a selfless human being. I appreciate you a lot just like I know so many others.
Missing David Freiberg! His perspective balances the entire conversation!
I like Jason and I like everyone else on the podcast . Everybody together really makes the conversation feel alive I never want it to end which is crazy because I can barely watch 30 minutes of just about any other podcast
Every time Brad is on, i break out my pen and pad.. schools about to be in session 💪🏾🙌🏿
Distributed to Paid-In Capital (DPI) is a term used to measure the total capital that a private equity fund has returned thus far to its investors. It is also referred to as the realisation multiple.
What a great content every week. Please don’t quit and try to have guests more often 🙏👌
Yay.. Saturday night sorted with hubbie, me and the All in crew 😍. Can't wait
This pod is the best. You guys are awesome.
Jason loves not being the poorest guy in the room 😂
brad is a billionaire. look up how much he made on SNOW ipo
@@TedKidd he for sure is. early investor in uber and robinhood. he prob has 100-200M
He has a real problem with that. Not very sure of himself.
@@Dan7baseball not even close
@@Dan7baseball He doesn't have his own jet, but must take chartered private jets, right?
best episode so far... You are all bringing logic back to America!
The Musk effect is real. And when people started working from home, it blasted a spotlight on all the tremendous inefficiencies that had built up in these companies.
For real, just look at Twitter. The headcount is down ~80%, no more incredibly priced free lunches... I'm sure there's way more behind the scenes that is gone now. Plus Twitter Community notes and other game-changing applications on their way?
Unreal that many people still don't like him. Best combo businessman/capital allocater/engineer bar none.
Work from home has nothing to do with inefficiencies. Get Elon's dick out of your mouth bud @douglasx6915
@@deenzmartin6695 uh yeah it does. If you can hire people remotely and pay them half of what you would pay Americans, that sounds a lot cheaper/efficient
@@deenzmartin6695 valid but idk I would also say working from home encourages a more efficient environment because everything is more measurable in an online digital environment unlike in an office where there are more unmeasurable things like office politics, social credit in the office, etc. that ultimately probably aren’t the best use of company resources. At the same time I’m pretty sure musk does mostly prefer working in person so yeah I guess WFH isn’t necessarily tied to musks management style
BTW - best Brad appearance. @ 26:20 really provides a great counterpoint to Chamath. I love the Dictator, but LPs etc are clearly Brad's business and he provides some very clear minded input here.
Great conversation on SBC - must listen for all entrepreneurs thinking of taking their companies public...
I understand the world macro economy better than how much Jason understands the internatonal politics. Step up your game man. You are a smart man.
fantastic description of the SBC issue w/ brad
Having Brad is awesome!
In case you are looking for it. 1:39:46 we got a legendary Sacks demolishment of Jcal
Except that Sacks doesn’t know the main reason behind Putins war. NATO expansion is not the main reason
@@smartFunable what is the reason then?
@@joshuadarke446 You need to read Russian/Ukrainian histories or at least Putin's article from 2021, but in short: Russia wants to control Ukraine (historical reason), however in 2004 and 2013 revolutions in Ukraine shown that Ukrainian people are willing to be with Europe rather than with Russia (at the same time Ukrainian people voted against joining NATO). The 2013 revolution was the final deciding factor to start the war with Ukraine, and Russia took over Crimea and eastern part of Ukraine. In 2022 they just proceeded with the second stage of the war with the goal to occupy whole Ukraine.
@@smartFunable doesn’t the Eastern part of Ukraine consider themselves Russian for the most part?
One of the best in a while
Generative AI FOMO is real. All the VC who got smashed in crypto now turned to AI trying to save face :D
And they are going to be smashed again 😂😂😂😂
I listen every week to hear David Saks argue with Jason.
Going to Japan at the end of the month. Can’t wait!
Oh and this is literally the greatest pod on earth right now.
Two comments:
1. A tweet was referenced that 43% of white Harvard students are legacy, athletes, or from donors or contributors. Jason and others immediately assumed there was unfair bias and they weren't qualified on merit. Without knowing the why that's quite a prejudiced assumption. (Was generating his type of response the intent of the tweet?)
2. The athlete advocating getting rid of black history month an teaching black history all year. I agree with the first point and disagree with the second. Why? Teaching "black history" is by definition discriminatory and subjectively biased. In replacement of the second point, teach "American" history that includes all of us. The long-standing de facto national motto is "E Pluribus Unum", which translates to "From many to one."
You make two good points. Not sure why Chamath thought that Dramon was so brilliant. He is just an athlete and I don't want my children learning the hate and re-written history his ilk want to add.. I have no problem adding more black American's significant contribution to our overall American history, but I have a feeling what Dramon means is adding "black man good-white man bad" crap.
This is such a good conversation!
Brad is amazingly knowledgable
Regretted saying 6.5% after that goosey comment
Great to have an expert guest on investing to measure against Chamath. Would be great to have another guest to measure against Sacks on geopolitics!
It is a bit of a tricky question regarding the legacy .... I mean these are not public institutions they are private. If someone's grandfather donates 100 million to the university is it really that unreasonable that his grandson gets in as a legacy entry ?
The smartest podcast by far
Is it just me or do all of you love the unprovoked spars in this pod !! this is becoming addictive folks!
Another fascinating episode, love it!!! Thank you all!!! ❤❤❤
Here is the breakdown of the value brought to the podcast in my cap table: David S. holds 60%, David F. holds 20%, Chamath holds 18%, and finally, Jason holds the smallest percentage at 2%.
You’re a fascist inbred, aren’t ya?
Sacks rant on Ukraine hits the bullseye (as always). Wish more woke westerners would wake up.
A lot of besties get touted in the comments for their contributions to the show. here's one for Chamath. Chamath is excellent (probably the best of the crew) when he doesn't have an opinion. He asks the best and insightful questions to aid the listener. You can tell thats a huge part of his value in business. GG chamath.
This was like listening to Journey without Steve Perry. Please tell Sulton of Science no days off. Love you besties!
What an amazing episode, kudos besties. Bret shud be on all episodes. His insights are amazing. The praz article that dictator mentioned shud be a topic sometime in all in podcast
Best pod in months…no politics…all business…brilliant! Brad adds a nice bit as well….perhaps he could be made a permanent member of the pod.
In regards to the federal government requiring the removal of TikTok from federal devices, I agree with that move 100%. However, the reason for this isn't what most people might expect. No governmental devices should have any form of social media or other user-installed apps on them unless they are installed by the IT department if the app is required for their job. It's government-owned equipment, not your personal equipment. Public and private corporations do this regularly, so why shouldn't the government do it?
I don’t have any data but private companies seem to be going the opposite direction in my experience. There’s no reason to carry around two laptops and two cell phones in 2023. And there’s reduced need for an IT department when people increasingly work remotely and primarily connect to cloud applications. But yes, Chinese spyware should not be on government devices.
Min 33:44. Absolutely spot on. I've seen start-ups do this mistake in 2022/2023. Dissolve the team without realizing if they don't have a team they have nothing.
J Cal kinda exposes himself more and more these days. Cheap shots like he threw at Sacks and Stanford makes it infinitely worse
BRAD ADDS MORE TO THE CONVO than friedberg. ngl. brad added some really interesting things AND I appreciate brad's experience in the public markets.
Every single time Russia and Ukraine is brought up I am disgusted by Davids take on NATO expansion and "coups in Ukraine". To him there are only 3 actors in the world: Russia, US and China with none of the other people between them having any self determination or goals.
Also again, seems a bit naive to think if the NATO stopped at West germany that Russia would not expand and attack other countries.
Chamath, it sounds like Dave Goldberg was a very influential person in your life. We all need people like Dave. I know I do.
Sacksy-Poo is and has always been my favourite. He is so methodical and rational in thought and communication. Jason must back off slightly and stop twisting Sacks words. Its high schoolish
Very American point of view to talk about what should happen to Ukraine without considering the fact that Ukraine is an independent country and its citizens have clearly declared where they want to belong. This is usually the problem with political realism, ignoring any local nuances and acting like every country outside of US, China and Russia is just a pawn on the map, then getting surprised when it turns out that the local population actually has a will of its own.
Sacks, Freidberg and Palihapitiya are the reason we all watch the pod. JCal is an after thought.
Would love to see more edits where we could see all of or multiple of the besties at the same time. Example: I suspect it would be fun to see Sacks face when Jcal is talking i think 😉
1:47:35 I think the best argument I've heard for legacy admission for places like Harvard is that whether they are pretending its not true or not they were kind of set up to be a mingling places for rich/influential people to make connections with smart people, I think the issue is more them saying they don't do it. There's arguably a demand for that and then there's like MIT filling the entirely merit based role but wouldn't really mind if they all got rid of legacy personally. Though I think they might have a very off perspective on how many poor people are making it into the Ivy league of the non-legacy admissions, the non-legacy are still basically all rich and who's parents went to a good school just a different one.
It's how you pay for it. If you don't take public money ( or government guaranteed ) you shouldn't be allowed to do favors.
Be private and do what you want.
David Sach spoke the truth, called a spade a spade, not taking sides - just calling it out. J Cal wanted to make a thread stand, and keep up a moral ground.
Both are correct.
Thank you for another Great episode gentlemen! How many espresso's did Jason smash.. I lost count lol