Now more than ever we need a good long episode on the state of the market and trajectory of American economy. I just graduated college and your guy’s analysis over the past months has helped me build a nuanced frame work I can use in the market. Things are changing so rapidly we need voices of reason in these times from people like yourselves.PLEASE MORE DISCUSSION ABOUT THE ECONOMY
Love when this group talks books and business. Very interesting stuff and such "inside baseball" on how VC works and their insight into the broader economy. Sure the occasional talks on politics is interesting and sometimes infuriating for me, but when they talk shop - the show shines.
People make fun of him for being not as smart , he always makes sure in a split second the audience will understand the conversation, the audience are too proud to even realise they wouldn't understand a lot of the conversation if not for him
@@eden5260 exactly. He’s very smart. I’m embarrassed for anyone who thinks Jason isn’t super bright. Love his work in these pods. His light is appreciated. Clearly an amazing friend and teacher also.
yeah Jason is embarrassing sometimes and deserves a lot of the flack he gets in the comments at times but he really does pull the pod together for all of us. love the worlds greatest moderator, keep killing it Jcal!!
Dear Bill, this interview was one of the highest concentration of the business knowledge on TH-cam. Thank you Bill for your generosity of sharing extremely valuable information and offering excellent advice on this pod and over the years. This will help me enormously in my career, and I am hoping that one day I’ll be able to thank you in person. Hopefully on the next All-In Summit 🤞
Bill Gurley calls out the Grifter business of VC getting 2% managment fee on $350 million managed and on average not returning more than the S&P over 10 years. VC biggest racket around
Super cool to hear Danny Meyer's book featured here. My parents immigrated to the US and worked in Gramercy Tavern their entire adult lives. I then went to MIT and have been working at startups since. When worlds collide haha. Thanks for another episode.
Great episode but I think Gurley, Gerstner & Sacks should've expanded further on their ideas on the public markets ... cut way too short at the end. I hope the besties next week bring this topic up with having Chamaths take as well, so much to unpack here!
i am a new habitual viewer, but the content is great. i love the dynamic that is achieved. Please keep it alive. love the insights, love the passions, love the perspectives.
WOW. I’m so impressed with everyone’s deep knowledge of Kurosawa’s career & incredible work. Seven Samurai is widely considered one of the greatest movies of all time.
Many attribute the quote "Buy when there’s blood in the streets..." to Buffett, but it actually originates from Baron Rothschild. The complete saying is, "Buy when there’s blood in the streets, even if the blood is your own."
Truly exceptional advice JCal gave to Sacks about writing his new book. Same for Brad's advice. War stories and examples really make books worth the money. An audiobook especially would be the creme de le creme for war stories.
The funny thing about friedburg saying seven samurai is a great movie for entrepreneurs, is that the samurai ultimately say that the cost of victory was so high that only the villagers could be happy. I guess the winners are the buyers of your product?
Paying 25% for credit cards is still a smart decision for most Americans - its free money - when inflation they experience is 30% CPI at 4% is a meaningless number because its "average" not median n not weighted by wealth/income strata. If top 10% are feeling negative CPI while bottom 90% is feeling 30% CPI, you would still get a single digit total CPI reading. Which is useless for most Americans.
Love today's discussion. This is what we follow the pod for. Not necessarily everything was easy to understand but very helpful. Would like to see a little more elaborative approach for novices like me.
Please do a climate change deep dive next week! Friedberg hit the nail on the head when he said there's no magic bullet. I would love to hear his and the squad's thoughts on what the max impact focus areas are and the best ways to make progress there.
9 degrees more than it's EVER BEEN? We barely know how hot it's ever been in the last 150 YEARS!!! We barely know ANYTHING about the weather, least of which is how many of those degrees have to do with the Hunga Tonga volcano of Jan 2022! That we are ALL acclimatized to A/C just means we like an average of 72, NOT that the whole world is being torched. I've worked out of doors when it was over 100 degrees every day all summer long. IT HAPPENS ALL THE TIME, not just every year - which is why giving 30/40-somethings and media personalities absolute control is foolishness.
Ghost of Tsushima is a game based-on Kurosawa's Samurai movies if you guys are into games... Superb story-telling, beautiful sceneries & great gameplay...
Equities might not work inflation into their forecasts or accounting, but if you sell bread and have debt, after inflation gets priced in, your debt is devalued and your income is inflated. This absolutely has to be factored in when comparing risk free rate versus an equity that will capture inflation.
1:25:55 When Jason suggested "painting people's roofs with white paint..." 😀 Jason, if I was a climate superhero who could shut down *_every air conditioner in the US_* do you know what the drop in global CO2 output would be? 0.314%. If I could disable *_all passenger cars in the US_* ? 1.006%. And those percentages would drop over time, as the US percentage contribution to the global CO2 output total shrinks. In the five years between 2016 and 2021, the US reduced per capita CO2 output around 3%, but reduced *total* CO2 output just 0.087% -- less than one-tenth of one percent. In other words, if we'd have done ten times better than we did in that period, we'd still have reduced America's totall CO2 output less than one percent. On the bright side, again, the US share of global CO2 output is shrinking, but it's mostly because output in other parts of the world is growing. In terms of CO2 output per person, it would take nearly two Chinese people to equal one average American. It would take nearly eight (7.7) Indian people to equal one average American. It would take 23.22 Nigerians, 15 Pakistanis, or _495_ Congolese (from the Democratic Republic of the Congo)! Why do I mention these countries? Because it's projected by the year 2100, India, China, Nigeria, Pakistan, and the Democratic Republic of the Congo will be the top 5 most populated countries, with the USA falling to 6th. Do you think the per capita CO2 output of India, let alone Nigeria, Pakistan, and the Democratic Republic of the Congo, will decrease over time, especially if they can increase their per capita GDP? Barring the immediate release of fantastically revolutionary -- and fantastically deployable -- clean energy technologies, looking at the numbers and trends, the only thing the world could do to meet the kinds of deadlines climate alarmists are saying we need to meet would be to rapidly de-industrialize western civilization. Chances of that happening? Of course, *_zero_* . Please *_do_* talk about this next week. Bring experts on in the next episode who can show my numbers and conclusions are wrong. Or, if they agree those numbers are generally in line with reality, then I actually *_do_* hope I can be convinced that there's actual hope other than the _not-going-to-happen_ de-industrialization of western civilization, in terms of the climate deadlines we're hearing from climate alarmists. Please show me a path -- supported by numbers / projections -- that will prove I'm off-base, and/or wrong altogether. At our home, we're doing a little preparation. Specifically, we're planning on buying a second home further up north, in a location projected to be one of the top places in the future for climate migration. And we're also having a large whole-house backup generator installed at our primary home (the installation already scheduled), to prepare for increased grid-overload outages. I'm definitely looking forward to the next episode's discussion about this topic.
Hi All-in team, I love your podcast but sometimes dont get a chance to watch the whole thing on the go. It will be awesome if you guys can upload shorts as well. Thank you for the continued amazing content.
The proxy funds rate tracks the funds rate pretty closely, and represents monetary policy. The 10yr is the market’s long term interest rate. Not sure why these are shown on the same chart and significance 1:28:07
Chinese property market and JGB market manipulation problems are 2 massive tail risks. Until the 10yr-2yr US T un-inverts and holds for 90 days and we don't have a massive meltdown,we are not out of the woods. If that happens we good🤠
Gurley dumping his shares on softbank 😂😂😂 Calcanis: "Famously benchmark was able to sell shares at a very high valuation and lock in an incredible return right?" Everyone: "...." Gurley: "Yeah."
Loved the episode. The energy without Chamath is soooo different, much less bro-ish toxicity, much more friendliness and banter. Now if only JCal could cut the micro-interruptions... it'd be 10/10 :D
![[Full Episode] The Restaurant War Thailand ศึกพ่อค้าซ่าแม่ค้าแซ่บ Episode 1 | 22 ก.ย. 67](http://i.ytimg.com/vi/BuzQ70v-UZQ/mqdefault.jpg)
Now more than ever we need a good long episode on the state of the market and trajectory of American economy. I just graduated college and your guy’s analysis over the past months has helped me build a nuanced frame work I can use in the market. Things are changing so rapidly we need voices of reason in these times from people like yourselves.PLEASE MORE DISCUSSION ABOUT THE ECONOMY
Love when this group talks books and business. Very interesting stuff and such "inside baseball" on how VC works and their insight into the broader economy. Sure the occasional talks on politics is interesting and sometimes infuriating for me, but when they talk shop - the show shines.
Jason makes the pod super accessible to non experts. I appreciate the way he stands in for much of the audience with his questions. Thx Jason.
People make fun of him for being not as smart , he always makes sure in a split second the audience will understand the conversation, the audience are too proud to even realise they wouldn't understand a lot of the conversation if not for him
@@eden5260 exactly. He’s very smart. I’m embarrassed for anyone who thinks Jason isn’t super bright. Love his work in these pods. His light is appreciated.
Clearly an amazing friend and teacher also.
yeah Jason is embarrassing sometimes and deserves a lot of the flack he gets in the comments at times but he really does pull the pod together for all of us. love the worlds greatest moderator, keep killing it Jcal!!
Rumour is Chamath isn’t missing, he’s just decided to make a career change and is now training to become a truffle pig in Italy
With his butt sniffing expertise it will be an easy transition !
made me spit out some of my coffee
This is great news 😂
I heard this as well!
🎉is a 3 of the most 🎉and in popular 🎉🎉popular in all of this is the 2 reality 🎉🎉
One of the best cold opens! Love Friedburg!
it's cool to hear these guys talk about books. Wish Chamath was here to chime in.
Dear Bill, this interview was one of the highest concentration of the business knowledge on TH-cam. Thank you Bill for your generosity of sharing extremely valuable information and offering excellent advice on this pod and over the years. This will help me enormously in my career, and I am hoping that one day I’ll be able to thank you in person. Hopefully on the next All-In Summit 🤞
Super to see Bill Gurley with you. Best board member I ever had!
It’s so funny to see the crew actually interested in what jcal is saying about books and films 😂
He really shined there!
Sacks' poker face during the cold open 🤣
Bill Gurley calls out the Grifter business of VC getting 2% managment fee on $350 million managed and on average not returning more than the S&P over 10 years. VC biggest racket around
Now the weekend can start🎉🎉
I loved this episode, I have rewatched it twice already. Everything flowed so well, such valuable insights from everyone. Great Job
Couldn’t catch the insights on the first run? 😂😂😂
"I still don't understand the term 'Pre-Seed'" - Friedberg
You and me both, brother.😂
Jcal you’re deadass so far from the world best moderator. Why do you insistently cut-off everyone just as they are making their point?
J-Cal… the World’s Greatest Interrupter.
Super cool to hear Danny Meyer's book featured here. My parents immigrated to the US and worked in Gramercy Tavern their entire adult lives. I then went to MIT and have been working at startups since. When worlds collide haha. Thanks for another episode.
Thanks for the show and Bill & Brad as special guests!
Great episode but I think Gurley, Gerstner & Sacks should've expanded further on their ideas on the public markets ... cut way too short at the end. I hope the besties next week bring this topic up with having Chamaths take as well, so much to unpack here!
Viktor Frankl’s “Man’s Search for Meaning” and “The Book of Joy” w/ Dalai Lama & Desmond Tutu had the most positive, profound effects on me
Also among my top 5
Missing Chamath steel manning and playing ying yang in arguments which is truly necessary. also miss him borderline bullying Jcal.... lol
I used to teach cosmetology and David is not exaggerating a bit… too funny!!! Love you guys!!!
Just finished my first Sydney City2Surf 14K event listening to the besties. Always save the pod for a good run.
Chamath popped in to fill the diversity quota so the pod doesn’t get canceled 😅
without Chamath its 5 white guys talking about tech
@@SS-up5sc Reminds me of the old millennial money podcast- 4 white brunettes (who mostly all agreed with each other)
DEI score through the roof
Another racist moronic Hindu comment
best pod to date. Thanks Jcal and team, really appreciate the knowledge sharing. Havent missed a pod now in over a year.
John D Rockefeller bio is an amazing read. Learn a lot about history, connects a lot of macros.
@@isthisPG haha true that. Was part of my workout for about a month.
Gurley is spot on with "Pickelball & Cold Plunge"
It's really distracting when JCal says "yea" in the middle of someone else speaking.
"The Founders" book about the early days of paypal is an amazing business biography
Let's get Thomas Sowell on the podcast.
i am a new habitual viewer, but the content is great. i love the dynamic that is achieved. Please keep it alive. love the insights, love the passions, love the perspectives.
WOW. I’m so impressed with everyone’s deep knowledge of Kurosawa’s career & incredible work. Seven Samurai is widely considered one of the greatest movies of all time.
The boys are in their best behavior when the BGs show up
The "totally random" section of this was absolutely fantastic.
We have Girley and Brad on the pod and Jason hogs the mic more than EVER. Infuriating!
Many attribute the quote "Buy when there’s blood in the streets..." to Buffett, but it actually originates from Baron Rothschild. The complete saying is, "Buy when there’s blood in the streets, even if the blood is your own."
During the cold open, no smiles or laughs from Sacks 😂
how does Sacks not even crack a smile during that haircut intro
All-in pod without Chamath is like Apple without Steve Jobs!
Love that you guys are bringing awareness to climate change!
Who’s the “know-it-all” on the All In Podcast? 😂😂😂😂 Love this podcast; I look forward to it each Friday, now my weekend can start!
Jason - When the boys wanna keep it rolling, let it roll another 15-30!!!! We will stay tuned!!! #worldsgreatestmoderator
Foreal! We only get these once a week
Looking forward to Sack's book.
Really enjoyed Bill Gurley on this episode!
I think I fell asleep twice listening to this one
maybe Chamath is the key ingredient. Slowest episode that I can remember
It ended well with the assist from Gurley
00:07:20 JCal so desperate to tell everyone he was interviewed for Elon's biography, and clarify that he was actually asked 😂
You have no clue their long history.
Truly exceptional advice JCal gave to Sacks about writing his new book. Same for Brad's advice. War stories and examples really make books worth the money. An audiobook especially would be the creme de le creme for war stories.
Did Jason go to the same place Friedberg did?
Gotta listen to this dry powder segment 5more times 🤯
Chamath Zoom bombing🔥Another great episode for the library ✨
THANKYOU Friedberg for talking briefly about climate. Jason, as you said - looking forward to it being on the docket next week 🙏🏽
The funny thing about friedburg saying seven samurai is a great movie for entrepreneurs, is that the samurai ultimately say that the cost of victory was so high that only the villagers could be happy. I guess the winners are the buyers of your product?
Paying 25% for credit cards is still a smart decision for most Americans - its free money - when inflation they experience is 30%
CPI at 4% is a meaningless number because its "average" not median n not weighted by wealth/income strata. If top 10% are feeling negative CPI while bottom 90% is feeling 30% CPI, you would still get a single digit total CPI reading. Which is useless for most Americans.
If only JCal could talk less / just moderate, this episode would have been one of the best!
I really love how this pod began - I’m currently building my own platform and it actually inspired me quiet a lot
Love today's discussion. This is what we follow the pod for. Not necessarily everything was easy to understand but very helpful. Would like to see a little more elaborative approach for novices like me.
we are so lucky to get BG^2 on the pod. Absolute pros
Love the moderation by JCal in this one , especially ensuring that the lingo is clearly explained
Please do a climate change deep dive next week! Friedberg hit the nail on the head when he said there's no magic bullet. I would love to hear his and the squad's thoughts on what the max impact focus areas are and the best ways to make progress there.
Appreciate the data and charts you guys surface here. Really adds to the discussion. Thank you
“Happy days are here again, the skies above are clear again, let us sing a song of cheer again, happy days are here again”!
1:30:00 China saw deflation, negative prices rate YoY. Not disinflation, which is falling while still +ve.
Best all-in intro EVER!
1:15 you gave away the dirty secret just buy QQQs and go away and keep the liquidity. Great Podcast, thank you gentlemen.
Looking forward to David and Bill’s books
Thank you for acknowledging the tragedy in Lahaina
I love me some jcal but this is not personal show ! Allow others to talk and answer questions uninterrupted
Yolo trips!!! people are going without food already!
Jcal, thanks for asking the questions that help us understand all the specifics of the industry!
Great show again guys!
Extra good pod this week. Love the guests.
Another killer intro haha, you know it’s funny when they gotta bleep half of it out.
“What would you like to tip?”
“Get a new career”
I’m dead 💀💀💀
I actually like Jason commenting on every thing, because he brings common man perspective so that people who are not VC can understand.
9 degrees more than it's EVER BEEN? We barely know how hot it's ever been in the last 150 YEARS!!! We barely know ANYTHING about the weather, least of which is how many of those degrees have to do with the Hunga Tonga volcano of Jan 2022! That we are ALL acclimatized to A/C just means we like an average of 72, NOT that the whole world is being torched. I've worked out of doors when it was over 100 degrees every day all summer long. IT HAPPENS ALL THE TIME, not just every year - which is why giving 30/40-somethings and media personalities absolute control is foolishness.
Great episode this week. Thank you.
Sachs with the dead-face in the intro hahaha dude must be miserable
You left out possibly the oldest and one of the best autobiographies about perfecting a craft. Benvenuto Cellini.
Ghost of Tsushima is a game based-on Kurosawa's Samurai movies if you guys are into games... Superb story-telling, beautiful sceneries & great gameplay...
Jcal's moderation was a bit annoying during this episode. Too many micro interruptions.
Chasing Down a Dream, great presentation! Consider one presale here.
Great Kurosawa recs, Yojimbo is the glaring omission in the samurai films, Dreams also is great
men i really looking to hear friedberg and chamath talking about global warming
Sacks looks younger with his new hairstyle! Can’t wait to read his book!
missing Chamath in the pod rest all GOOD!!!
sorry guys, too much inside baseball on VC and PE for the first hour, only relates to 0.001% of your audience
Lol, that opener is about the spiciest I think I've heard Friedberg. Hilarious
Equities might not work inflation into their forecasts or accounting, but if you sell bread and have debt, after inflation gets priced in, your debt is devalued and your income is inflated. This absolutely has to be factored in when comparing risk free rate versus an equity that will capture inflation.
1:25:55 When Jason suggested "painting people's roofs with white paint..." 😀 Jason, if I was a climate superhero who could shut down *_every air conditioner in the US_* do you know what the drop in global CO2 output would be? 0.314%. If I could disable *_all passenger cars in the US_* ? 1.006%. And those percentages would drop over time, as the US percentage contribution to the global CO2 output total shrinks.
In the five years between 2016 and 2021, the US reduced per capita CO2 output around 3%, but reduced *total* CO2 output just 0.087% -- less than one-tenth of one percent. In other words, if we'd have done ten times better than we did in that period, we'd still have reduced America's totall CO2 output less than one percent.
On the bright side, again, the US share of global CO2 output is shrinking, but it's mostly because output in other parts of the world is growing. In terms of CO2 output per person, it would take nearly two Chinese people to equal one average American. It would take nearly eight (7.7) Indian people to equal one average American. It would take 23.22 Nigerians, 15 Pakistanis, or _495_ Congolese (from the Democratic Republic of the Congo)! Why do I mention these countries? Because it's projected by the year 2100, India, China, Nigeria, Pakistan, and the Democratic Republic of the Congo will be the top 5 most populated countries, with the USA falling to 6th. Do you think the per capita CO2 output of India, let alone Nigeria, Pakistan, and the Democratic Republic of the Congo, will decrease over time, especially if they can increase their per capita GDP?
Barring the immediate release of fantastically revolutionary -- and fantastically deployable -- clean energy technologies, looking at the numbers and trends, the only thing the world could do to meet the kinds of deadlines climate alarmists are saying we need to meet would be to rapidly de-industrialize western civilization. Chances of that happening? Of course, *_zero_* .
Please *_do_* talk about this next week. Bring experts on in the next episode who can show my numbers and conclusions are wrong. Or, if they agree those numbers are generally in line with reality, then I actually *_do_* hope I can be convinced that there's actual hope other than the _not-going-to-happen_ de-industrialization of western civilization, in terms of the climate deadlines we're hearing from climate alarmists. Please show me a path -- supported by numbers / projections -- that will prove I'm off-base, and/or wrong altogether.
At our home, we're doing a little preparation. Specifically, we're planning on buying a second home further up north, in a location projected to be one of the top places in the future for climate migration. And we're also having a large whole-house backup generator installed at our primary home (the installation already scheduled), to prepare for increased grid-overload outages.
I'm definitely looking forward to the next episode's discussion about this topic.
Hi All-in team, I love your podcast but sometimes dont get a chance to watch the whole thing on the go. It will be awesome if you guys can upload shorts as well. Thank you for the continued amazing content.
Missed you Chamath!!!
The proxy funds rate tracks the funds rate pretty closely, and represents monetary policy. The 10yr is the market’s long term interest rate. Not sure why these are shown on the same chart and significance 1:28:07
Chinese property market and JGB market manipulation problems are 2 massive tail risks. Until the 10yr-2yr US T un-inverts and holds for 90 days and we don't have a massive meltdown,we are not out of the woods. If that happens we good🤠
What headphones is BGurley wearing? Bose wired quiet comfort?
EP: 141 of the All-Jason Podcast
how do we make Jason undewrstand, that we are not here for his opinions. He should contribute 10% of what he is doing.
Gurley dumping his shares on softbank 😂😂😂
Calcanis: "Famously benchmark was able to sell shares at a very high valuation and lock in an incredible return right?"
Everyone: "...."
Gurley: "Yeah."
Loved the episode. The energy without Chamath is soooo different, much less bro-ish toxicity, much more friendliness and banter.
Now if only JCal could cut the micro-interruptions... it'd be 10/10 :D
1st East Coaster....3AM Drops....For Those Watching the Morning Markets....Lets Get it AiP Crew...✌🏾🤑💰💰💰🔥