All-In with Chamath, Jason, Sacks & Friedberg

(0:00) Bestie intros! (0:58) Reacting to Trump targeting China and postponing all other reciprocal tariffs (21:21) Measures for success of tariffs, debating the impact of letting China into the WTO (46:14) Is the US being exploited on trade? Was free trade a mistake? (1:02:01) Recession chances, How the Trump administration gathers information (1:19:39) Future of the Democratic Party, Abundance agenda, DOGE (1:51:00) The Besties recap the debate and Chamath recaps the Breakthrough Prize Ceremony Follow Larry: https://x.com/LHSummers Follow Ezra: https://x.com/ezraklein Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://truthsocial.com/@realDonaldTrump/posts/114309144289505174 https://x.com/WhiteHouse/status/1910058352278708638 https://www.wsj.com/politics/policy/why-trump-blinked-on-tariffs-b588aea8 https://breakthroughprize.org

(0:00) The Besties welcome Ben Shapiro and Antonio Gracias (1:54) Why Antonio is helping out and what it's like working with DOGE (4:56) DOGE's latest findings: illegal immigration, social security, and more (27:59) Was Biden's open border policy a Dem strategy to expand their voter base? (39:55) Tariffs: Liberation Day chaos, reactions, strategy (55:26) Impact, consequences, and risks for the Trump Administration (1:13:50) How the US can thrive in a high-tariff world (1:31:33) Future US political landscape if the tariff strategy fails (1:42:27) Chamath recaps his best-performing asset of 2025 + wrap Follow Antonio: https://x.com/AntonioGracias Follow Ben: https://x.com/benshapiro Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://x.com/AntonioGracias/status/1906877800511893670 https://polymarket.com/event/magnificent-7-shrinks-below-30-of-sp-500-in-2025?tid=1743434648860 https://x.com/Geiger_Capital/status/1907553323387072774 https://x.com/enriqueabeyta/status/1907796286763409439 https://x.com/Geiger_Capital/status/1907622848149037509 https://x.com/litcapital/status/1907813630227173534 https://www.wsj.com/tech/ai/asml-euv-machine-lithography-chips-967954d0 https://www.hoover.org/publications/goodfellows https://www.ft.com/content/bcb1d331-5d8e-4cac-811e-eac7d9448486

(0:00) Friedberg and Jason are live from Austin! (2:51) How building an audience has impacted the Besties (11:15) Colin & Samir join the Besties! (12:01) Evolution of short-form and long-form content (22:18) Business models for creatives (35:04) Advice to up and coming creators (42:10) Chris Williamson joins the Besties! (50:17) Making it seem effortless (57:47) Monetizing content (1:05:02) Scaling a one-man show (1:19:15) Bryan Johnson joins the Besties! (1:20:13) Spotify’s move to video (1:21:21) Bryan’s Ketamine experience (1:28:03) Creators and value props (1:36:52) Issues with the US food industry (1:43:10) Top tips for healthy living Thanks to our partners for making this happen: Gemini: Go to https://www.gemini.com/allin to get $50 in bitcoin when you sign up and trade. Function Health: Go to https://www.functionhealth.com/allin and use gift code ALLIN100 at checkout to get a $100 credit toward membership - limited to the first 1K listeners. NIAGEN Plus IVs: Visit https://www.niagenplus.com to discover the future of cellular performance. Follow Colin and Samir: https://www.youtube.com/@ColinandSamir https://x.com/ColinandSamir Follow Chris Williamson: https://www.youtube.com/@ChrisWillx https://x.com/ChrisWillx Follow Bryan Johnson: https://www.youtube.com/@BryanJohnson   https://x.com/bryan_johnson Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect

(0:00) The Besties welcome Gavin Baker back on the show! (1:20) Nvidia balance sheet questions, CoreWeave IPO, M&A/IPO bounce back (16:22) US vs China in AI: Manus, China building its own Nvidia, and more (28:37) The Administration's endgame for tariffs (53:05) Signalgate: context and fallout (1:09:42) El Salvador deportations Follow Gavin: https://x.com/GavinSBaker Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://www.reuters.com/technology/coreweave-planning-cut-us-ipo-size-price-below-range-source-says-2025-03-27 https://www.reuters.com/world/us/us-adds-dozens-entities-export-restriction-list-2025-03-25 https://modelcontextprotocol.io/introduction https://www.theinformation.com/articles/openai-plots-charging-20-000-a-month-for-phd-level-agents?rc=pxkrxo https://www.youtube.com/watch?v=A8wJc7vHcTs https://x.com/JohnArnoldFndtn/status/1905296181208416744 https://x.com/chamath/status/1904547884877701610 https://www.theatlantic.com/politics/archive/2025/03/trump-administration-accidentally-texted-me-its-war-plans/682151 https://www.whitehouse.gov/presidential-actions/2025/03/invocation-of-the-alien-enemies-act-regarding-the-invasion-of-the-united-states-by-tren-de-aragua https://www.statista.com/statistics/696152/homicide-rate-in-el-salvador https://x.com/Sec_Noem/status/1905034256826408982

(0:00) Welcoming Cyan Banister and David Sacks! (3:23) Behind the scenes of the Besties in DC: White House, cabinet interviews, and more (33:00) How M&A will be unleashed, Google buys Wiz for $32B, Tim Walz on Tesla (49:09) Deep dive on Google/Wiz: breakup fee, impact on VC, ROIC, cloud advantage (1:00:28) Treasury vs Fed tension, Bond markets, consumers, deregulation (1:12:57) Space rescue, SpaceX vs China, lunar landing Thanks to our partners for making this happen: Hims: https://www.hims.com | https://www.forhers.com Gemini: https://www.gemini.com/allin iTrustCapital (use code allin): https://www.itrustcapital.com/allin Follow Cyan: https://x.com/cyantist Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: Bessent interview: https://youtu.be/lSma9suyp24 Lutnick interview: https://youtu.be/182ckTL2KBA https://www.cnbc.com/2025/03/18/google-to-acquire-cloud-security-startup-wiz-for-32-billion.html https://x.com/Tim_Walz/status/1902197581586833643 https://www.nbcnews.com/politics/politics-news/democratic-party-hits-new-polling-lowvoters-want-fight-trump-harder-rcna196161 https://x.com/elonmusk/status/1519735033950470144 https://www.ft.com/content/e6f516e8-2262-44d2-a030-7071b62b0be7 https://x.com/thesamparr/status/1902385138308104685 https://www.wsj.com/economy/central-banking/interest-rates-decision-federal-reserve-ed172223 https://www.cnbc.com/quotes/US10Y https://www.nytimes.com/2025/03/10/technology/eric-schmidt-relativity-space.html https://arstechnica.com/space/2024/11/chinas-long-term-lunar-plans-now-depend-on-developing-its-own-starship https://www.nbcnews.com/politics/elections/steve-kornacki-white-men-white-women-gap-gender-gap-rcna196791

(0:00) Chamath and Friedberg welcome Commerce Secretary Howard Lutnick! (1:10) Howard describes his 30+ year relationship with President Trump and his road from business to politics (14:44) Running Trump's transition team, DOGE origin story, what it's like working for Trump (38:01) Balancing the budget and fixing GDP (52:21) Tariff history and strategy, global trade (1:10:34) Trump Cards, building better government software, AI thoughts (1:22:49) Sovereign Wealth Fund strategy (1:37:16) How his family reacted to his new role Thanks to our partners for making this happen: Gemini: https://www.gemini.com/allin Hims: https://www.hims.com | https://www.forhers.com iTrustCapital (use code allin): https://www.itrustcapital.com/allin Follow Secretary Lutnick: https://x.com/howardlutnick Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect

(0:00) Chamath and Friedberg describe their adventures in DC and welcome Treasury Secretary Scott Bessent! (2:12) Scott's background, what drew him to equities, the role of macro investors (7:22) The legendary trade that broke the Bank of England in 1992, and how it relates to Main Street vs Wall Street today (21:30) Scott explains the Trump Administration's economic strategy (32:45) How this administration plans to de-regulate the economy, Fed relationship, re-financing debt (42:06) DOGE, DC grifts, shakeup at the IRS (50:51) Re-engineering social security through the US SWF, how energy factors in (1:00:02) Surprises, fixing affordability, thoughts on President Trump Thanks to our partners for making this happen: Gemini: https://www.gemini.com/allin Hims: https://www.hims.com | https://www.forhers.com iTrustCapital (use code allin): https://www.itrustcapital.com/allin Follow Secretary Bessent: https://x.com/SecScottBessent Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect

(0:00) The Besties intro Andrew Schulz! (3:29) Friedberg hits a quick Science Corner on the future of fertility (9:35) Reacting to Gavin Newsom's new podcast: genius or pandering? (19:36) Tariff experiment so far: risks, communication issues, and more (30:44) Why the American Dream is broken and how to fix it: cracking the housing market, social security reform (55:45) Aligning upside via increased stock market participation (1:11:23) How Andrew blew up in comedy, going direct via YouTube, building a cancel-proof following (1:22:25) State of America, conspiracy obsession, thoughts on Trump and DOGE GET TICKETS for All-In Live: Miami https://allin.com/events Follow Andrew: https://x.com/andrewschulz Check out Andrew's new special LIFE: https://www.netflix.com/title/81741999 Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://x.com/chamath/status/1895948351516131515 https://x.com/ChineseEmbinUS/status/1897132043362034153 https://electrek.co/2025/02/07/renewables-90-percent-new-us-capacity-2024-ferc https://www.wsj.com/opinion/bidens-mortgage-relief-fuels-higher-housing-prices-policy-loans-risk-cb0a1974

(0:00) The Besties welcome Joe Lonsdale! (3:51) Jason recaps an eventful week in Washington (8:29) Trump's tariffs: endgame, impact, chaos, master plan (26:25) DOGE, IRA grifting, do campaign contributions need to be capped? (53:42) CoreWeave IPO (1:03:36) Trump 2.0 favoring Main Street over Wall Street, bond market breakdown, re-balancing the economy (1:14:19) State of Ukraine/Russia, the Western alliance, and how techno-optimism plays into the future of defense pacts (1:24:31) GPT-4.5, Grok 3 on X, and the Golden Age of language models (1:33:47) All-In for F1 Miami! (1:37:34) David Sacks joins Jason to break down the Strategic Bitcoin Reserve and Digital Asset Stockpile (1:48:30) Sacks addresses clearing all of his crypto-related positions prior to Inauguration Day (1:57:23) Importance of disclosures and updates on a market structure bill GET TICKETS for All-In Live: Miami https://allin.com/events Follow Joe: https://x.com/JTLonsdale Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://truthsocial.com/@realDonaldTrump/posts/114093526901586124 https://x.com/JTLonsdale/status/1896245689488920748 https://x.com/Jason/status/1896235076456739138 https://truthsocial.com/@realDonaldTrump/posts/114093946326587357 https://www.reuters.com/technology/tsmc-ceo-meet-with-trump-tout-investment-plans-2025-03-03 https://x.com/AutismCapital/status/1896655215899893968 https://x.com/USATODAY/status/1897248477081460849 https://www.nbcnews.com/politics/supreme-court/supreme-court-rejects-trump-administrations-bid-avoid-paying-usaid-con-rcna194230 https://truthsocial.com/@realDonaldTrump/posts/114116432894994278 https://truthsocial.com/@realDonaldTrump/posts/114112015891353323 https://www.reuters.com/business/autos-transportation/trump-auto-tariff-rate-will-be-around-25-2025-02-18 https://fred.stlouisfed.org/series/USGOVT https://x.com/DOGE/status/1897464303428755692 https://electrek.co/2025/02/07/renewables-90-percent-new-us-capacity-2024-ferc https://www.thefp.com/p/a-20-billion-slush-fund-nonprofits https://x.com/bariweiss/status/1896992192197013888 https://truthsocial.com/@realDonaldTrump/posts/114117008305421663 https://x.com/chamath/status/1895948351516131515 https://x.com/chamath/status/1895948351516131515 https://x.com/unusual_whales/status/1897737394964906437 https://x.com/great_martis/status/1897194563800064153 https://x.com/great_martis/status/1897581115952804248 https://www.sec.gov/Archives/edgar/data/1769628/000119312525044231/d899798ds1.htm https://x.com/chamath/status/1896052861500604884 https://www.newsweek.com/map-global-thorium-reserves-country-2039893 https://apnews.com/article/donald-trump-bitcoin-cryptocurrency-stockpile-6f1314f5e99bbf47cc3ee6fc6178588d https://www.whitehouse.gov/presidential-actions/2025/01/strengthening-american-leadership-in-digital-financial-technology https://www.whitehouse.gov/presidential-actions/2025/03/establishment-of-the-strategic-bitcoin-reserveand-united-states-digital-asset-stockpile https://x.com/dmartkc/status/1896260059640025113 https://x.com/ryangrim/status/1896306748052623852 https://x.com/_Andre_Ellis/status/1896935969041104981 https://x.com/KyleSamani/status/1897130321021411750 https://x.com/pbartstephens/status/1897008176467468349 https://x.com/HHorsley/status/1897461451675328879

(0:00) Bestie intros (1:41) Epstein files first release underwhelms (4:40) Friedberg recaps his experience on Celebrity Jeopardy! (14:22) State of autonomous robots (21:06) Comparing annual reports from Stripe and Adyen; Stripe's network effects, stablecoin infra, and the pace of AI company building (29:12) State of the market: stocks, tariffs, spending bill, the "great reset" (49:07) Trump's Gold Card (56:19) Sophisticated investor test, changing accreditation laws (1:06:57) USPS, Bezos refocuses the WaPo's opinion page Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn:  https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://x.com/bennyjohnson/status/1895195194947183047 https://x.com/adcock_brett/status/1895175400160133543 https://x.com/markjeffrey/status/1892735775550406828 https://x.com/pitdesi/status/1895117427480109238 https://x.com/jmover/status/1895129169882661100 https://coinmarketcap.com/currencies/tether https://coinmarketcap.com/currencies/usd-coin https://fred.stlouisfed.org/series/UNRATE https://www.cnbc.com/2025/02/12/cpi-january-2025.html https://x.com/StealthQE4/status/1894227465616171361 https://www.youtube.com/watch?v=7-ttACozP8s https://www.cnbc.com/quotes/US10Y https://x.com/chamath/status/1888371069322686895 https://polymarket.com/event/how-many-gold-cards-will-trump-sell-in-2025/will-trump-sell-2pt5k-5k-gold-cards-in-2025?tid=1740688723350 https://x.com/Jason/status/1706067572226244789 https://www.washingtonpost.com/business/2025/02/20/trump-usps-takeover-dejoy/ https://x.com/Jason/status/1894412028279693546 https://x.com/JeffBezos/status/1894757287052362088

(0:00) The Besties welcome John and Patrick Collison! (4:28) Stripe's business evolution: $1T in volume/year, stablecoins, challenging the Visa/Mastercard duopoly, publishing economic indicators (20:31) Jamie Dimon's leaked rant on remote work and bureaucracy (34:22) DOGE for Defense: Trump ordered the Pentagon to look at cutting the defense budget by 8%/year over the next five years (43:51) Crypto Corner: Milei's Memecoin embarrassment (1:00:18) John and Patrick break down the Arc Institute and its new Evo 2 AI model (1:18:04) Grok 3 takes the LLM lead, lessons learned from Elon's Colossus scale up (1:30:22) Science Corner: Asteroid update (1:35:42) Why Stripe hasn't gone public yet, despite great metrics Register for All-In at SXSW: https://allin.com/events Follow John: https://x.com/collision Follow Patrick: https://x.com/patrickc Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://www.cnbc.com/2024/10/23/stripes-1point1-billion-deal-for-bridge-marks-much-needed-win-for-vc.html https://x.com/Zigmanfreud/status/1890202488596492620 https://www.coworker.org/petitions/professional-dignity https://www.bloomberg.com/news/articles/2023-01-03/shopify-ceo-tobi-lutke-tells-employees-to-just-say-no-to-meetings https://www.washingtonpost.com/national-security/2025/02/19/trump-pentagon-budget-cuts https://www.amazon.com/Boyd-Fighter-Pilot-Who-Changed/dp/0316796883 https://www.cnn.com/2025/02/16/americas/argentina-milei-libra-cryptocurrency-impeachment-calls-intl-latam/index.html https://www.cnn.com/2025/02/18/americas/argentina-milei-defends-libra-crypto-tweet-intl-latam/index.html https://arcinstitute.org https://blogs.nvidia.com/blog/evo-2-biomolecular-ai https://artificialanalysis.ai/models/grok-3 https://x.com/GavinSBaker/status/1891721991444447343 https://www.amazon.com/Henry-J-Kaiser-Builder-American/dp/0292742266 https://x.com/AsteroidWatch/status/1892338055354159256 https://x.com/AsteroidWatch/status/1892631907646447746

(0:00) The Besties intro Naval Ravikant! (9:07) Naval reflects on his thoughtful tweets and reputation (14:17) Unique views on parenting (23:20) Sacks joins to talk AI: JD Vance's speech in Paris, Techno-Optimists vs Doomers (1:11:06) Tariffs and the US economic experiment (1:21:15) Thomson Reuters wins first major AI copyright decision on behalf of rights holders (1:35:35) Chamath's dinner with Bryan Johnson, sleep hacks (1:45:09) Tulsi Gabbard, RFK Jr. confirmed Follow Naval: https://x.com/naval Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://x.com/naval/status/1002103360646823936 https://x.com/CollinRugg/status/1889349078657716680 https://www.whitehouse.gov/presidential-actions/2025/01/removing-barriers-to-american-leadership-in-artificial-intelligence https://www.cnn.com/2021/06/09/politics/kamala-harris-foreign-trip/index.html https://www.cnbc.com/2025/02/11/anduril-to-take-over-microsofts-22-billion-us-army-headset-program.html https://x.com/JDVance/status/1889640434793910659 https://www.youtube.com/watch?v=QCNYhuISzxg https://www.wired.com/story/thomson-reuters-ai-copyright-lawsuit https://admin.bakerlaw.com/wp-content/uploads/2023/11/ECF-1-Complaint.pdf https://www.youtube.com/watch?v=7xTGNNLPyMI https://polymarket.com/event/which-trump-picks-will-be-confirmed?tid=1739471077488

(0:00) The Besties intro Antonio Gracias! (3:11) DOGE takes on USAID (31:44) Sacks breaks in to talk USAID (34:00) Sacks explains what he's working on: Crypto/AI Frameworks (46:41) The Democratic Party's shrinking base (52:33) US Sovereign Wealth Fund + Breaking DOGE/Tax News (1:09:07) Google to spend $75B on AI buildout in 2025, future of work in the age of AI (1:23:21) Science Corner: GLP-1 macro study Follow Antonio: https://x.com/AntonioGracias Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://en.wikipedia.org/wiki/United_States_Agency_for_International_Development https://www.wsj.com/opinion/usaid-donald-trump-elon-musk-marco-rubio-state-department-foreign-aid-8d2a1920 https://www.usa.gov/agencies/u-s-agency-for-international-development https://www.usaspending.gov/agency/agency-for-international-development?fy=2024 https://www.whitehouse.gov/fact-sheets/2025/02/at-usaid-waste-and-abuse-runs-deep https://www.wsj.com/finance/banks-sell-5-5-billion-of-x-loans-after-investor-interest-surges-4b84f89c https://www.usaspending.gov https://www.foxnews.com/media/ex-politico-reporters-reveal-editors-quashed-slow-walked-negative-biden-stories-with-no-explanation https://www.usaspending.gov/recipient/fa0cefae-7cfb-881d-29c3-1bd39cc6a49e-C/2024 https://www.bbc.co.uk/mediaaction/about/funding https://www.whitehouse.gov/presidential-actions/2025/01/reevaluating-and-realigning-united-states-foreign-aid https://x.com/susancrabtree/status/1884034727046226317 https://x.com/elonmusk/status/1886627783138316442 https://www.nbcnews.com/politics/national-security/usaid-security-leaders-removed-refusing-elon-musks-doge-employees-accercna190357 https://x.com/Jason/status/1885082871074886110 https://x.com/anc_aesthetics/status/1886176995433763188 https://x.com/wikileaks/status/1887501752213409919 https://x.com/pm_viktororban/status/1887224829352280505 https://x.com/daily_romania/status/1887883017550430435 https://x.com/kanekoathegreat/status/1887261736618893636 https://www.whitehouse.gov/presidential-actions/2025/01/strengthening-american-leadership-in-digital-financial-technology https://x.com/davidsacks47/status/1886878016183394403 https://www.banking.senate.gov/newsroom/majority/scott-hagerty-lummis-gillibrand-introduce-legislation-to-establish-a-stablecoin-regulatory-framework https://www.washingtonpost.com/opinions/2025/02/02/rahm-emanuel-democrats-voters-kitchen-table https://www.whitehouse.gov/presidential-actions/2025/02/a-plan-for-establishing-a-united-states-sovereign-wealth-fund https://www.americanprogress.org/article/scott-bessents-3-percent-deficit-target-would-require-massive-cuts-to-anti-poverty-programs-and-middle-class-tax-increases https://abcnews.go.com/US/judge-weigh-block-doge-accessing-treasury-department-records/story?id=118498817 https://en.wikipedia.org/wiki/United_States_DOGE_Service https://x.com/libsoftiktok/status/1887585824218509380 https://fedscoop.com/wp-content/uploads/sites/5/2025/02/show_temp.pdf https://www.cnbc.com/2025/02/05/alphabet-shares-fall-7percent-on-revenue-miss-heightened-ai-investments.html https://abc.xyz/assets/a3/91/6d1950c148fa84c7d699abe05284/2024q4-alphabet-earnings-release.pdf https://x.com/SawyerMerritt/status/1886899315735507255 https://www.nature.com/articles/s41591-024-03412-w

(0:00) The Besties intro Travis Kalanick! (2:11) Travis breaks down the future of food and the state of CloudKitchens (13:34) Sacks breaks in! (15:38) DeepSeek panic: What's real, training innovation, China, impact on markets and the AI industry (50:14) US vs China in AI, the Singapore backdoor (1:01:51) OpenAI reportedly in talks to raise ~$40B with Masa as the lead investor (1:10:37) DOGE's first 10 days (1:25:13) Future of Self Driving: Uber, Waymo, Tesla (1:38:04) Fed holds rates steady, how DOGE can impact rate cuts (1:44:17) Fatal DC plane crash Follow Travis: https://x.com/travisk Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://github.com/deepseek-ai/DeepSeek-R1/blob/main/DeepSeek_R1.pdf https://www.tomshardware.com/tech-industry/artificial-intelligence/chinese-company-trained-gpt-4-rival-with-just-2-000-gpus-01-ai-spent-usd3m-compared-to-openais-usd80m-to-usd100m https://www.cnbc.com/2025/01/27/nvidia-sheds-almost-600-billion-in-market-cap-biggest-drop-ever.html https://x.com/shrihacker/status/1884414667503853749 https://x.com/balajis/status/1884975064283812270 https://www.fool.com/earnings/call-transcripts/2025/01/29/meta-platforms-meta-q4-2024 earnings-call-transcri https://x.com/mrexits/status/1885017400308806121 https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-01-28-2025/card/deepseek-s-ai-learned-from-chatgpt-trump-s-ai-czar-says-LoCYvz2Lm0riS0AuEoB5 https://www.wsj.com/tech/ai/why-distillation-has-become-the-scariest-wordfor-ai-companies-aa146ae3 https://techcrunch.com/2024/12/27/why-deepseeks-new-ai-model-thinks-its-chatgpt https://x.com/rauchg/status/1875627666113740892 https://www.ft.com/content/a0dfedd1-5255-4fa9-8ccc-1fe01de87ea6 https://x.com/satyanadella/status/1883753899255046301 https://en.m.wikipedia.org/wiki/Jevons_paradox https://x.com/pitdesi/status/1883192498274873513 https://x.com/rihardjarc/status/1884263865703358726 https://x.com/austen/status/1884444298130674000 https://www.cnbc.com/2025/01/30/openai-in-talks-to-raise-up-to-40-billion-at-340-billion-valuation.html https://x.com/america/status/1884372526144598056 https://x.com/DOGE/status/1884396041786524032 https://fred.stlouisfed.org/series/FYFSD https://www.whitehouse.gov/presidential-actions/2025/01/establishing-and-implementing-the-presidents-department-of-government-efficiency https://x.com/Jason/status/1884671945800573018 https://abcnews.go.com/538/trump-starts-term-weak-approval-rating/story?id=118146633 https://www.cnbc.com/2025/01/15/cpi-inflation-december-2024-.html https://x.com/chamath/status/1885068981905875241

(0:00) Ray Dalio joins Friedberg! (0:50) The current US fiscal situation (6:23) Breaking down "The Big Debt Cycle," a potential US debt spiral, and the impact on real wealth (24:54) USD vs other currencies and assets, best hedges against the dollar (33:20) Portfolio construction, how China increases risk for US AI companies, why this market reminds Ray of 1998-1999 (41:45) How the US can avoid a debt crisis (53:29) DOGE, Trump, and AI's greatest risk (1:05:31) Chances of conflict between the US and China Follow the Besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow Ray Dalio: https://x.com/RayDalio Read Part 1 of "How Countries Go Broke": https://x.com/RayDalio/status/1878840018770210979 Pre-order "How Countries Go Broke": https://www.amazon.com/Principles-Investment-Economic-Ray-Dalio/dp/1501124064 Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://tradingeconomics.com/united-states/government-debt-to-gdp https://www.crfb.org/press-releases/treasury-confirms-calendar-year-2024-deficit-tops-20-trillion https://www.cbo.gov/publication/61172 https://www.institutionalinvestor.com/article/2bstne1l09npgdk1s5yww/corner-office/ray-dalio-makes-his-exit-from-bridgewater https://fred.stlouisfed.org/series/M2SL https://www.jpmorgan.com/insights/outlook/economic-outlook/fed-meeting-september-2024 https://www.forbes.com/sites/robertfarrington/2024/11/08/fed-cut-interest-rates-so-why-do-mortgage-rates-keep-climbing https://www.chathamfinancial.com/insights/fomc-recap-december-2024 https://www.cnbc.com/2025/01/14/a-global-bond-sell-off-is-deepening-as-hopes-for-multiple-fed-rate-cuts-fizzle.html

(0:00) The Besties intro Thomas Laffont! (6:22) Behind the scenes: Inauguration Weekend recap! (15:58) Biggest takeaways from DC during the Inauguration (31:38) Trump Executive Action breakdown (33:39) TikTok's grace period extended, valuing the business, US new equity strategy? (57:01) Jan 6th pardons, birthright citizenship (1:09:49) Stargate: $500B AI investment, is Masa the GOAT?, bull case for OpenAI (1:23:41) How electricity production capacity plays into the global AI race (1:36:20) Netflix's stock rise correlates with some alarming societal trends (1:47:40) BREAKING: AI/Crypto Czar David Sacks joins to discuss the President's three new EOs Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow Thomas Laffont: https://www.linkedin.com/in/thomas-laffont-02430914 Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://x.com/dontcallmeraylo/status/1882444994264629402 https://x.com/craigkellyXXX/status/1882170281722339700 https://www.wdsu.com/article/donald-trump-executive-orders-inauguration-parade/63486993 https://www.whitehouse.gov/presidential-actions https://www.nytimes.com/2025/01/21/us/trump-birthright-citizenship.html https://constitution.congress.gov/constitution/amendment-14 https://avalon.law.yale.edu/18th_century/fed74.asp https://x.com/OpenAI/status/1881830103858172059 https://x.com/sama/status/1882106524090482701 https://x.com/GavinSBaker/status/1882081746877063677 https://x.com/elonmusk/status/1881923570458304780 https://x.com/elonmusk/status/1882303826214162580 https://x.com/satyanadella/status/1882340818289307954 https://x.com/GregKamradt/status/1881762305152872654 https://x.com/chamath/status/1881773205498876255 https://x.com/documentingbtc/status/1882530869010989287 https://www.whitehouse.gov/presidential-actions/2025/01/strengthening-american-leadership-in-digital-financial-technology https://www.whitehouse.gov/presidential-actions/2025/01/removing-barriers-to-american-leadership-in-artificial-intelligence https://www.whitehouse.gov/presidential-actions/2025/01/presidents-council-of-advisors-on-science-and-technology https://www.goodreads.com/quotes/489251-in-this-age-in-this-country-public-sentiment-is-everything https://x.com/SpeakerJohnson/status/1882083118032846868

(0:00) House Whip Tom Emmer on Trump's political talent, the Biden conspiracy, taking back the Democratic party, immigration, the role of Whip (33:53) California Rep. Eric Swalwell on where Democrats went wrong, how to rebrand the party, TikTok ban, and more (1:08:01) California Rep. Ro Khanna on reforming the Democratic party, Bob Iger as LA Mayor, CA Leadership, TikTok ban Follow the Besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow Whip Emmer: https://x.com/GOPMajorityWhip Follow Rep. Swalwell: https://x.com/ericswalwell Follow Rep. Khanna: https://x.com/RoKhanna Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect

(0:00) Besties intro Senator Ted Cruz; history of the "Come and take it" flag (2:21) Texas vs. California: how to approach building and entrepreneurship (10:25) Thoughts on immigration, serving in the Senate, over-politicization (16:55) How to create a bipartisan consensus on immigration, increasing prosperity through opportunity (23:54) How Sen. Cruz would approach Trump's first two weeks of his second term (29:02) DOGE's two major challenges, unlimited Congressional terms, ideology over party, the great political flip (35:22) Trump's strategy on Greenland/Denmark, Panama Canal, and Canada (42:45) Thoughts on Senate confirmation hearings Follow the Besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow Senator Cruz: https://x.com/tedcruz Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect

(0:00) The Besties welcome Mark Pincus! (3:53) Mark's background (6:02) How Mark got red-pilled for Trump, maintaining friendships despite political differences (23:21) LA Wildfires update: Newsom's EOs, market impact of price controls (51:32) Congestion pricing in NYC, fixing broken cities (1:08:33) TikTok ban: origin and potential outcomes (1:19:15) MBA hiring downturn (1:34:37) Conspiracy Corner: Mark's take on UFOs and UAPs! Follow the Besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow Mark Pincus: https://x.com/markpinc Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://www.piratewires.com https://x.com/micsolana https://www.athena.com https://nypost.com/2024/11/04/us-news/tech-billionaire-mark-pincus-reveals-hes-voting-for-trump https://x.com/TheTechnXMedia/status/1878459564980392410 https://www.gov.ca.gov/wp-content/uploads/2025/01/EO-N-4-25-Rebuilding-Final-signed.pdf https://www.gov.ca.gov/wp-content/uploads/2025/01/EO-N-7-25-_-Land-Speculation-1.14.25-bl-_GGN-Signed_.pdf https://x.com/MayorOfLA/status/1878630125786566664 https://congestionreliefzone.mta.info https://www.nytimes.com/2025/01/13/nyregion/congestion-pricing-nyc.html https://x.com/friedberg/status/1652334973586915328 https://x.com/markpinc/status/1878575249505333606 https://www.youtube.com/watch?v=T72DfPEBn0A&t=29s https://www.bloomberg.com/news/articles/2025-01-14/china-discusses-sale-of-tiktok-us-to-musk-as-one-possible-option https://www.wsj.com/lifestyle/careers/harvard-mba-employment-rate-job-hunt-difficulty-addfc3ec

(0:00) The Besties welcome Cyan Banister! (9:16) Reacting to the LA wildfires: broken incentives, leadership failures, lessons learned (36:51) Insurance issues, rebuilding headwinds, reclaiming the government (59:44) Zuck goes full free speech, fires third-party fact-checkers, opts for Community Notes model (1:20:19) Nvidia goes consumer at CES: market cap impact, most interesting vertical (1:34:49) Why Trump wants Greenland (1:40:05) Conspiracy Corner: Who built the pyramids? Follow the Besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow Cyan Banister: https://x.com/cyantist Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://www.youtube.com/watch?v=_SQ_myzmV_Q https://www.cnrfc.noaa.gov/awipsProducts/RNORR4RSA.php https://x.com/JonVigliotti/status/1877020919475884110 https://x.com/FearedBuck/status/1877355797245514085 https://www.youtube.com/watch?v=vKJ5WeBc7Us https://x.com/CrazyyHub/status/1823574726738092402 https://www.latimes.com/visuals/photography/la-me-fw-archives-the-1961-bel-air-brush-fire-20170419-story.html https://www.rainmaker.com https://www.ksbw.com/article/california-fire-evacuation-maps/63382651 https://x.com/shaunmmaguire/status/1877366727547433382 https://x.com/WorldTimesWT/status/1876887200526111017 https://x.com/ericabbenante/status/1877207054105886836 https://x.com/laurapowellesq/status/1877143625588682940 https://x.com/jeremykauffman/status/1877128641802285064 https://x.com/deb8rr/status/1877539354802876576 https://x.com/Jason/status/1877183155821494513 https://about.fb.com/news/2025/01/meta-more-speech-fewer-mistakes https://www.americanrhetoric.com/speeches/PDFFiles/Mark-Zuckerberg-Letter-on-Govt-Censorship.pdf https://x.com/townhallcom/status/1876684277787873397 https://www.wsj.com/tech/ai/nvidia-ceo-pitches-robotics-cars-as-growth-areas-to-consumer-electronics-audience-68905f2d https://www.nvidia.com/en-us/project-digits https://polymarket.com/markets/creators/all-in