All-In? We’re out: Why the All-In podcast is bad for America - Episode 126
ฝัง
- เผยแพร่เมื่อ 7 ก.ย. 2023
- Cas Piancey and @bennettftomlin discuss the All-in Podcast and it's hosts: David Sacks, David Friedberg, Chamath Palihapitiya, and Jason Calacanis.
This video was recorded on August 25th and 28th, 2023.
Read more: cryptocriticscorner.com/2023/... in a new tab)
Additional episodes mentioned in this episode:
Episode 64 - Metaverse 2: Venture Capitalist Judgement (Feat. münecat)
• Metaverse 2: Venture C...
Episode 42 - Elizabeth Holmes, Theranos, and the Future of VC (Feat. Elizabeth Lopatto)
• Elizabeth Holmes, Ther...
Episode 8 - Coinbase Media and Why Venture Capitalism Hates Journalism
• Coinbase Media and Why...
Episode 116 - The FDIC, Infinite Insurance, and Moral Hazards (feat. Rohan Grey)
• How To Insure All Bank...
Additional resources:
Bennett's video about Twitter
• A Eulogy for Twitter
Bennett's appearance on Odd Lots
bennettftomlin.com/2022/12/12...
David Sacks apology
www.vox.com/2016/10/24/133957...
Coverage of Tandler
protos.com/david-sacks-backed...
Coverage of Silicon Valley Bank Run
protos.com/blame-the-fed-davi...
Other places to find Crypto Critics' Corner
Website: cryptocriticscorner.com/
Discord: / discord
Bluesky: bsky.app/profile/cryptocritic...
Mastodon: mstdn.social/@CryptoCriticPod
Twitter: / cryptocriticpod
Instagram: / cryptocriticpod
TikTok: vm.tiktok.com/TTPdPN2hK9/
Bennett's TH-cam: @bennettftomlin
Bennett's D&D TH-cam: @BTDND
Bennett's BlueSky: bsky.app/profile/bft.wtf
Cas' BlueSky: bsky.app/profile/caspiancey.b...
Bennett's Mastodon: mstdn.social/@bennetttomlin
Bennett's Twitter: / bennetttomlin
Cas' Twitter: / caspiancey
Bennett's Newsletter: TheFUDLetter.com/
Cas' Blog: / thecaspiancey
Bennett's Blog: bennettftomlin.com/
Timestamps:
#crypto #cryptocurrency #podcasts #listenable #allin
In this episode we originally mistakenly claimed that Jason was a member of the PayPal Mafia, he was not an executive for PayPal and we regret the error
Wasn't he one of the first in though for investments? I also remember him saying he has the first tesla in his garage. I swear that was him 🤔
I do not believe he was an early PayPal investor, he may be an early Tesla investor.
He definitely got in close with Musk, Thiel, and Sacks
so just a groupie 🙂
I’ll take that as a deliberate slip made with the intention of proving your point about self correction🙃
lot of beta males in here lol
I like how Cas and Bennett get so worked up by this that they change clothes every 5 minutes.
One of the most instructive takeaways from the rise of the Paypal mafia was that Elon Musk was, at the time, too unethical and interpersonally noxious for them to continue working with. To the extent that they made concessions on the narrative of the company’s provenance and millions in equity just to be rid of him. The worst of the worst people in the world, but they still love his money.
The difference to me seems to be that the majority of elite class used to feel a level of responsibility for accomplishing something for their community with their wealth or at the very least the self-importance of wanting to leave a legacy and be adored. Look at the infrastructure built by families like the Carnegies, Rockefellers and Vanderbilts. The predominant moneyed elite now are nihilists. And the longer it goes on the more often the thought "You want pitchforks, this is how you get pitchforks..." runs through my head. You would think at the very least they would have some sense of self-preservation.
Very well-said
Well said
I hate the All In bros so much and it brings me joy to see this hatred in the comment sections
I follow the All In podcast to make sure I don't miss the next bank run they cause.
Whoever listens to these people for anything other than laughing at them is honestly a mark.
I guess I used to be a Mark 😭😅
lol okay beta male lol
@@AndreAnyone classic
Almost an hour of Cas and Bennett 🙏🙏🙏
And how are your crypto and spac investments going?
Friedberg is the only all-in bro who isn't a delusional narcissist. He also speaks the least.
I thought it was telling when they were discussing how they had disproportionately benefited and Chamath and Jason immediately go “we’re not going to change that though right?”
But even friedberg - the libertarian - called for the feds to bail them and their friends out
Oh no, he’s the Machiavellian Monsanto “intellectual”. He’ll be a turn coat, just watch.
Used to be a decent podcast when they just talked about VC and C Suite decision making type stuff. Now its unbearable. Sacks wants to be Trump. Chamath is evil. Jason is the GOAT bootlicker. Also, you forgot to mention that Jason said that they empathized with the song because its tough when their portfolio positions take a hit. 🙃
It's the old disingenuous "hey, we're just asking questions here" nonsense people say when they're pushing BS.
JAQ-ing off
For clarification, I dont think Calacanis is part of the Paypal mafia. He's certainly become part of the team after the fact but I don't think he was an investor and he definitely wasn't on the team. Still become a massive shitbag in my eyes purely for the company he keeps.
You are correct, I made a mistake. There’s a corrected version working it’s way through the TH-cam editor and we mentioned it in the pinned comment. For some reason I thought he was involved
The only investment deserving of an All in is CasCoin 😂😂😂
The All In "arena" thing blowing up was such weird timing because it was going on at the same time that AEW was having a massive wrestling show at Wembley Stadium called All In, so it was a weird mash up on twitter
Shout-out to Cas for his Montreal Expos cap (although it's the first time I'm seeing a white and silver one instead of the regular red, white and blue).
I used to put up with them until the svb thing, that was full mask off mode for them
This is rough. I’m no fan of the spac’s but what your downing Chamath for is what the crypto market is built on.
Love the Teddy Roosevelt reference!!! Man in the Arena is too good to be co-opted by these guys.
Even though I was warned at the beginning of the episode to not watch if i didn't know about All In, i persisted, and well.... I should have listened to the advice. These people should have their wealth redistributed.
I'm so glad you guys made this video. I used to watch their podcast however the cringe for the past 6 months has gotten worse. I'm embarrassed for them.
Thank you for backing my instinct to run far far away. Like you said, if that's what it's like being rich af... I'm good 👌
27:00 You're spot on.... What are you bringing to the table BESIDES being extremely wealthy (and becoming even wealthier)??? Due diligence should be a BARE MINIMUM....
If you're not aware of who the 'All In Podcast' is, you can skip to 6:06 :)
Plus, Peter their took on the gawker thing bc they outed him as gay … as I recall.
I listen to their Podcast when I run (on Thursdays when it comes out) because I find it interesting to listen to people who are so disconnected. I think at the end here 49:00 you summarized it nicely, it's entertainment, and that's all it should be viewed as.
Yeah, they are very entertaining, I don't take them seriously.
SPACs are essentially "direct to consumer" underwriting... it's done bc your idea is smooth-brained and MS (lead) is not going to talk to you and/or the terms are going to be sht. There have been scenarios where the opco doesn't want to hand the 30% discount to the IPO first trade to the bank, but generally it's the bank refusing to take that phone call. I started in trad ibanking before becoming a volatility PM.
Good job covering this! Never heard of these guys, but oof! Imagine wasting your lives to obtain so much money and you spend it to show off how much of a failure of a human being you are XD
Always excited to see a new episode!
I was vaguely aware of Chamath and had a good impression of him based on nothing in particular, probably because he presents himself well. But I happened on an interview in which he was promoting SPACs, and my grifter radar triggered. Ever since then I've tuned him out. Sounds like it was a good thing I did. Screw him.
So excited for this episode. These people are the worst people in the valley.
All-In Podcast has great *chemistry* among the four+ hosts, who have fun on&off the air. It resonates with men, particularly GenX and older Millennial men. They have access and opinions, as players and as spectators. They are fun, flawed, and relatable.
I've been loosely following those guys for a few years now and it always seemed so obvious that these guys are just the worst. And they get away with all of this nonsense rarely ever challenged. I LOVE to see you guys go into "the arena" and break everything down the way you guys do.
The All-In Podcast is a demonstration of meritocracy under capitalism being a lie. You have a billion dollars, that means you're not a complete fn idiot, right? Wrong! Here's a quote from David "Nut" Sacks:
Which Odd Lots podcast episode was Bennett on?
It’s linked in the description!
Thanks! I thought you guys meant a more recent episode than December 22
Rich men north off East Palo Alto!
Does CasCoin accept 25-cent Millennium set quarters from the Royal Canadian Mint?
Yeah gentrification really bites. I resonate with what you're saying about the bay area. I dont live there in fact im Canadian, but a similar thing is happening in our cities and towns here in BC where the wealthy and the extremely wealthy are so detached from reality and the responsibility they hold that they are screwing everything up. I think theyre directly tied to quality of life dropping for the rest of us. Poverty and drug use is exploding... its sad. My home town used to be great. It was just this artsy little town with lots of hippies and artists back in the 90's, it had so much personality and regular folks could afford to have a really good life here. We all know what happens when the super rich discover a place like that.
14:41 ‘Reactionary, pseudo-libertarian, right-wing ideology” that’s it. Perfect concise description of David Sacks, Thiel and Elon.
High-functioning sociopaths is a more concise description.
Ayn Rand s adepts some say.
I work close to the VC and startup space. The more I see the less sophisticated VCs appear to me. Many are also predatory towards founders they back.
I have a confession…their podcast and yours were my two favorites of 2020/2021. 😂
They are pretty out of touch but I do learn something from most of the podcasts I listen to.
I also really enjoy Odd Lots.
Thank you for talking about this!
in the Arena trying stuff
There are in fact many ethical considerations in market making, which instruments you trade in, how you do the market making (for instance frontrunning is immoral), insider trading, fraud, so on. as well of course.
Can't wait for Cas coin to become a SPAC!!!!
Let's go. Been waiting for this since you teased this a week ago on X formerly shitter
Just the podcast to listen to while taking notes on the subject of missing data. Enjoying the thorough research in these discussions and the break down of the predispositions of the crypto influencers, businesses, spokespeople, investors, etc.
These people are not good people, we get it.....their podcast is entertaining, thats all. They bring up random topics that I don't hear very often and now they even have a summit and opened up conversations.
These guys are not saints and got lucky with early 2000s boom, so what.
This is the podcast to listen to if you want to utterly lose hope in humanity. 4 perfect examples of why there should be no billionaires.
You guys should continue critiquing them! They have scammed people for millions as you have said! Go after them!
Agree with your criticism of the All-In Podcast…. but they are still entertaining and they do give some great insights … can listen your channel and theirs and come to my own conclusions
Wait! You’re pushing your own crypto coin?
Amazing Interview, lots to think about, especially when healthcare is increasingly owned by private equity
thanks guys!! i'm just a pleb in Silicon Valley, I can safely say the worst people on the planet live here.
Well I think you are brilliant.
I regret to now be familiar with the All-In podcast haha. Can these people not hear how unlikable they make themselves sound? It's so evident that the Walmart pricing story is a way to remind everyone how rich he is and how pathetically poor everyone else is. I have such a hard time believing it's not just a made up story designed to flex his wealth...
Isn’t the idea to sell your positions when they peak? Seems like if they dropped after he sold he had good timing. I wish I was that smart.
9:58 Kind of like how most loud socialists are rich people? And often born into that wealth? At least these guys generally speaking created their wealth by providing a service, quality notwithstanding.
My guys
"You do need market-makers"
You spent 20 minutes describing a villain doing villainy in a detailed way(crypto scams, defrauding retail investors) but you don't actually favor the removal of villains from the supply chain. You're criticizing predatory gatekeepers in the market while advocating that the market still needs these kinds of gatekeepers. Your videos always describe a very real problem but your personal financial interests preclude you from ever discussing a real solution.
Jealous anyone?!!! LOL
All in feels like a circus … but I like this week in start ups at times …
Great praxis gents
this is defo not gonna age well
keep huffing that copium
The All-In Pod represents 4 people who have better things to do, than recording podcasts - they are giving out their take on worlds issues for free. Surely there are some things they are not proud off (we all have). But does discussing their past misgivings make their takes on issues less valuable? Sorry guys, but this nit-picking for clicks seems cheap, and I hope you’re getting called out for it.
Man how bad do you have to be to have Cas dislike you? Yikes.
Great watch! Like to see you burn them on X/ Twitter more often
It’s always been obnoxious, but for the past 6 months it’s unbearable mostly because of David Sacks and his political ideology and incessant boring tirades.
Wait. A bank is undercapitalized and then you blame the people who withdrew their money for a bank run?
I work as a Start-Up Finance Consultant and I am helping them from early stage (before founding) to investment rounds around max. 20 million (VC rounds).
Funny enough I had a client who went to shark tank for the publicity (obviously they never planned to do it for an investment).
I am a bit confused when you are referring to Mark Cuban or the Douche "Mr Wonderful" as VC investors. To me they are business angels, unless they set up their own VC funds to invest in start-ups (honestly most VCs i deal with are a bit and i mean "a bit" more qualified).
Just subscribed so my next video on the list is your take on VC's and I am exited 😅
Seeing their investments while reprrsenting the other side (the start-ups) has been shocking.
Why dies he sound just like echo Charles from the Jocko Willinks podcast
phalihapedia?
I just watched 30 minutes of "The SEC is after big crypto" from All In..... Fucking GROSS
Lol been listening to all in podcast for comedy lately.... Sacks is by far the worst imo 😂
Mr. David "America is 50% responsible for the Ukraine war" Sacks.
How about both of you guys. Have you been around the world? Go outside America? 13:24
They literally went to Hong Kong to try to find the Bitfinex headquarters (hint: it didn't exist).
Thanks
Love ur energy and the pod
I think he was referencing Teddy Roosevelts quote
Wow what a joke. I've never heard so much reading into intent with pseudo psychoanalytic crap
congrats on the worst take on the internet.
What 😂 ice cream below $11
43:00 100% we must not respect the shit these people say
i'm a listener of the all-in pod. i tune in because of their camaraderie and some of the information they provide --- looking forward to listening to this video and keeping an open mind. I know Chamath is sus, curious to find out more.
All-in pod gets a ton of unwarranted hate.
thanks guys
Subscribed 👍
So many bad takes on here mixed in with a few good ones quite a dichotomy
Crypto critics corner , a show by Npcs for Npcs
The Besties are entertaining! 😂 I don't take them seriously, they can be very out of touch!
mid take
The guy in the hat has no idea what hes talking about😂
Say what you will about that podcast, their song slaps
Their song is too long. YT doesn’t do full length movie titles. It’s another example of their over indulgence. And also, the tune is old.
These takes are mid, when you invest in startups, you have to expect risk. All investors, even retail. 95% fail… they are like small cap alt coins. Complaining after you make a risk bet that fails… that’s on you, not anyone else.
Never heard of you guys.. and you guys are trying to collect views by targeting the podcast that are doing well? Sad
Totally agree with many of your observations, but when all is said and done ... somehow they are the ones who ended up with the bag. I still have hope that you don't need to be a douche in the Valley to be successful, but my hope is waning.
😂 notice how these guys are the only ones who think they themselves are smart. These 2 are the very definition of "DUNNING KRUGER EFFECT" in human form lol.
Nobody listens to this podcast or odd lots compared to All-in. That’s a fact. You guys need to abandon straw man attacks.
The song is the polar opposite of a psyop, the legacy media opposition to it is the psyop. C’mon guys this one is a layup lol
Retail investors should never invest in anything they don’t understand. I made a fortune off of Chamaths Spacs. The All in podcast is a wealth of knowledge for people interested in finding an edge. You should mention how all 4 of them grew up in abject poverty. Chamath was on welfare, they are an inspiration.
All four of them did not grow up in abject poverty.
Sacks father was an endocrinologist.
Nice episode btw. All-in crooks have to be cancelled the sooner the better.
P.S.: don't buy $CAS coin
Mids are gonna mid
You’re defending Gawker? You guys are clueless. They lost the lawsuit because they did things that were illegal. Peter Thiel simply saw to it that justice was done.
18:44 How is this controversial? Yes, believing that people have an advantage purely from their skin color is racist.