E146: Did the Fed break the VC model? Plus IPOs, M&A, revaluing unicorns & more

[@thebitcoincafé]

JCal was stunningly good this episode. The focused VC was present; the disrupter was absent.

[@SteveMarzo-ti7fy]

Alright this was a good episode. Love when they go deep into startups and markets. Really the sweet spot for this podcast.

[@mr.chocolaterobot]

And When CP don't know how to not handle not getting a shout out and all the attention is given to Friedburg and Sacks

[@zachhoog]

The intro was equally amazing as well

[@SteveMarzo-ti7fy]

@@bobbyaxelrod5959many people are saying this

[@milaandahiya]

Yeah feels like the early pod episodes. First pod episode I've watched in a while.

[@rootabager]

Aa

[@djg450]

This is the best episode of 2023. IPO, rates, market insights. Thanks guys.

[@milaandahiya]

Yeah, just like the older episodes... Missed this.

[@TrendyContent]

Good job this episode Jcal. You were a part of the group, not trying to force the group. Great *additional* insights, instead of dictating the whole flow. This was the group in their prime. Fantastic science corner. All in all, the team hitting all cylinders

[@nicholasmartel2350]

Completely agree

[@chrisheist652]

Friedberg was hilarious when he said, "We should have a great degree of optimism with technology and where it's taking us." while in front of the Wargames ending backdrop.

[@PazLeBon]

@@NN-pe6ip dis what?

[@johns.777]

I'm with Sacks on the cold plunge temp.

[@kcorreia86]

Jerome Powell: Now I am become Fed. Creator and destroyer of startups.

[@markhux13]

This is one of my favourite episodes. The dynamic between the besties is so good and the part on IPOs was really interesting. I had to go back and listen to it twice.

[@thesw9k]

Truly cannot wait for a long for 2hr+ episode with Dalio. Dude drops knowledge bombs and nuggets of insight

[@patrick3926]

Agree and Alison summers gurley etc

[@Dedicated_.1]

Didn’t they already drop it from the summit? Or do you mean another episode?

[@patrick3926]

@@Dedicated_.1 separate 1-2 hour longer conversations.

[@Dedicated_.1]

@@patrick3926just got to it around 18:00

[@jesseholliday3480]

Oddly, you can hear almost Dalio's entire presentation via a KZbin add. "Has anyone else noticed this?" Once I wasn't near my phone and let his ad play, was like an hour-long add with everything he said at the summit presentation

[@GLMERS]

Thank you for mentioning reality vs price. The supply demand perspective of buyers to sellers is more important in pricing in the short term than the long term business value.

[@maryamshabani4858]

Freeberg, keep it up with the science corner. I love it and in fact I sometime get upset with the other folks. Once a while joking about this corner is ok but with this frequency, it has become disturbing in my view. Other than that I listen to you guys every week and I love it. It has become part of my weekend's ritual.

[@markdin2988]

@@farzana6676Americans love science

[@maryamshabani4858]

@@farzana6676 I am a proud Iranian. However, my comment was from love of science corner point of view and being human. It has nothing to do being American or not. Sorry for late reply. I just saw it. Anyway, I like the podcast though.

[@farzana6676]

@@maryamshabani4858 Proud Iranian? Don't they make small children in Iranian school sing "Death to America, Marg bar Amrika"?

[@maryamshabani4858]

@@farzana6676 this will be my last response as I do not have much time for this. I am a proud Iranian due to its rich culture and beautiful places and ... I don't usually question someone who says he/she is a proud American about slavery and political mess and .... My initial comment was because I love the science corner presented by Freeberg and in that episode, other folks ruined it by excess jokes. So, my comment was a request to let him run science corner nicely and once a while jokes are acceptable. I now wonder whether you truly understood my comment!

[@maryamshabani4858]

@@markdin2988 so as Iranians:)

[@johnanderson3731]

Big few days from the besties, thank you for all the gold you’ve been sharing 🎉

[@willzsportscards]

You guys HAVE TO bring Dalio back. Great minds look at long sweep of history for topic X. It's not easy, but he's trying to do it. So much better than the typical myopic topic(s) du jour discussion.

[@alexf7414]

Amazing Summit guys. The best of the besties so far. Watched all the videos, Excellent gests, questions and insights

[@mr.chocolaterobot]

And Still Now People of Color with Money....👀👀👀

[@TheJoshGalt]

Excellent episode. Great points by Sachs re revaluing unicorns. Thanks guys.

[@allin]

speed watching at its finest

[@metaverseb]

1 hours and 48 minutes consumed in 1 minute, W

[@patrickgarrity5529]

My favorite pod, never gets boring . Always interesting because of the debate factor

[@arifrupani]

This is No.1 podcast .. every single person should listen .. great job guys ❤

[@sp3hdtv]

Great episode as always. Thank you so much for providing amazing value to your viewers

[@sanesanyo]

Around 29 minutes mark, Chamath is explaining how he scammed his SPAC investors 😂😂😂

[@BinHexOctal]

Explain the scam and explain if you know how markets work

[@enteyedos]

Chammi is going to be very very disapointed by your comment , wait at the arena ,line up :O

[@miguelrodriguez7253]

Bestie no!

[@simrans3675]

Well said - silver tongues devil; this guy is such a snake; how he lives with himself is beyond the sane folks

[@jamesjensen5000]

Heads I win tails you loose… typical IPO process… banks win and retail buyers bail them out.

[@payalpatel6357]

I really like it where Chamath Palihapitiya bring up the investor's mindset point of view which starts at 46:43 👍

[@lexxon11]

This is going to be interesting because I personally think VC's ruined the current model circa 2011. The Fed just responded

[@MolotovBg]

No way, VCs are such a small market compared to the power and resource of the Fed. VCs don't print money and don't institute lock downs which rocket inflation.

[@raa729]

Clearly this generation of vcs are grifters, chamaz is one of them. So much people ruined with his scam listings

[@tuckerbugeater]

Their friend Larry Summers helped cause the collapse and their boy Bernanke opened up the cash chute. But I'm sure it wasn't coordinated to drive the majority of the economy into the tech sector and government. @@MolotovBg

[@PazLeBon]

@@raa729 everythng is upside down for sure. similar to elon musk fandom

[@MatiAllin]

Sup to all the friends I made at All-in summit 2023!

[@voltart8008]

I agree with Chamath: Vivek and Kennedy are the best possible candidates. I don’t think Americans are smart enough to see that.

[@nellyfrittata8319]

Vivek has a shot, but sadly, I don't think Kenedy stands a chance against the Democrat complex.

[@mr.chocolaterobot]

Americans don't control who is elected...Are you smart enough to understand that?

[@nellyfrittata8319]

@@mr.chocolaterobot elaborate

[@jake20581]

A smart person would see Vivek’s professional track record of grifting and zero political experience (after observing the Trump admin and it’s unqualified leadership) and see that he is a horrible choice for President. People like Vivek are wolves in the henhouse, they get into the office, destroy institutions to their own benefit and benefit of their inner circle and the fuck over the middle class. Regan is another prime example.

[@kingade2931]

Vivek is about to get the birther treatment from Trump

[@aapp7726]

Why are there so many ads? Quite irritating when the conversation is going well to be suddenly interrupted. 😠👿

[@rretlaw1]

Ads showing on this stream. Don't recall that happening for prior episodes.

[@davidblocher2397]

This episode is so much better than most since only a small amount of time was spent discussing politics!

[@isaacdarko25]

“My 2 year old does 54 degree”- Chamath. The besties opening convos alone deserve a Netflix special.

[@ahsanmohammed1]

Guys, please tell us about your house(s), cars, private planes, networths. Thanks!

[@videowatching9576]

Cool to hear your commentary on the Summit. Incredible videos from Summit, and yes would be great for Dalio 2 hour episode on the pod.

[@danmccoy7107]

You guys are my favorite podcast. By far. The education. The entertainment. The friendship between all of you. The digs you make at each other. Listen to everything. Now, Friedberg. Randomly noticed tonight, your upper lips never moved when you talk. Are you a ventriloquist?

[@thefunexaminedlife1145]

Great pod. As markets tighten, the value of visibility increases. So, you titans are sitting pretty.

[@mastershoe5162]

Vivek and RFK. Team up and get rid of the establishment.

[@jake20581]

Yeah that worked in 2016-2020🤡. The first disaster would crumble Vivek, he’s got no empathy and could not unify the country. Making money is not the mindset for a presidential candidate.

[@PazLeBon]

but vivek is a scammy pharma guy

[@stanleypreschutti8542]

Did JCAL win on the lets put ads in the pod discussion ! come on guys. push back.

[@20thcenturyboy85]

Thank You for the show. ALSO, BIG THANKS for all the recent All In summit content. Its very much appreciated.

[@20thcenturyboy85]

Sacks laughing like "Muttley" (the Hanna-Barbera Production cartoon dog) in this episode

[@mattthompson8329]

A bunch of folks who attended said they waaaaay overpaid for what was delivered. The guest speakers were very good. The "besties" were inaccessible, standoff-ish, and stayed isolated.

[@simbaroberts8210]

Very interesting take.

[@vickylorenzo2606]

Favorite part of my weekend . Please never stop!

[@cassandrakitty1639]

On IPOs in the Past, the Banks would warn institutions against Flipping... Flippers would get lower or no allocations on the next IPO. Given the Deluge in VC backed Tech, the Bankers are probably just happy to get the deal done so aren't riding the backs of Flippers.

[@mr.chocolaterobot]

Deal flow is Deal Flow Now....

[@sherrydionisio4306]

Graham Allison was my A #1! We need to listen to more wise old men and women. Thank you, gentlemen.

[@3quarter]

Governor Chris Christie stands out as the sole Republican candidate with a verifiable history of collaboration with a Democrat-majority legislature. Under his leadership, significant bipartisan achievements were made, most notably, the substantial reduction of New Jersey's budget deficit. This accomplishment addresses the fiscal concerns that you hold dear. Regarding foreign policy and the consistent assertions from Mr. Saks that assisting Ukraine could precipitate World War III, there is no concrete evidence to support this claim. It's worth noting that some historians argue World War II was a consequence of the international community's failure to promptly counteract Hitler's early aggressions. In regards to Mr. Vivek's outsider/business candidacy, there's an old saying: "Fool me once, shame on you; fool me twice, shame on me." He just another great showman. Lastly, I deeply appreciated the insights from Graham Allison during the recent conversation. Love to see him on the show for a longer conversation. Great show as always!

[@TheDapperInvestor]

Thumbs up for an epic summit and a superb return episode. Substance for the mind. Emotional dynamic. Hungry for more. Keep up the good work. Respect.

[@EssentiallyAI]

DF, great background today! WarGames was not only the first movie about hacking -- and it still remains the hacker's classic -- but it was also the first to engage with AI in its current reality, in contrast to 2001, for example.

[@brilliantvoiceovers]

You guys are legends man 😂 science corner shorts would be a vibe from every episode just saying, chamath wealth jokes as shorts would be great also

[@4LoveOfOllie]

That science corner was huge! I hadn't heard of that before, and I'm grateful for the the heads-up.

[@applecab123]

Thank God you guys are here, and not there. Best, Gregory

[@Robyn-Hood]

@JCal love the pod🎉🎉 but KZbin is interrupting this one at least 8 times and it’s ridiculous. Can you please turn the interruption off. I never experienced it before today.

[@charlesguo165]

it's because the video plays a copyright song

[@Robyn-Hood]

@@charlesguo165 no it would do the opposite

[@aacowboy12]

it was some nice conversation of history and the new way of changes to come.

[@lmncsay]

I love the opening jokes 😂😂😂 they make up for all the stress during the week.

[@shiv.seeking]

Thank you for the Science Corner ! I have an Autoimmune Disease and this is awesome to hear about !

[@R4tm1B29]

As someone who's not in the US or a US citizen, Bill Gurley is a fave. He's so funny and what he presented actually apply to what my local Goverment is doing. It's great to actually put a face on an inclination.

[@dooley-t6l]

Well done guys from down-under… is so much better when you all leave your egos, moods and personal quips, at the door (so to speak). Some people may find that the nitpicking/personal attacks is good entertainment, but I think you’ll find that, like me, it makes people uncomfortable and somewhat insecure (for want of a better word), on how long this podcast is going to last. Today, you were all bouncing off each other bringing different angles to some dead serious subjects. It was just like watching a well oiled team going to work… and yes, you do have a quarterback, who just might be realising that he (and the show), is “only as good as the players he is throwing to!” Well done to you all, yes… and you to JCal, I do appreciate your expertise… many thanks, Sutto 😉

[@aiyerk]

Wow… not buying a second model X is an austerity measure for jCal

[@ThePandaGuitar]

Best episode!

[@allanellias1361]

Guys, just do it ! Organise these debats with candidates on X platforms. This will be the most interesting and real debate we could get

[@brandonyonke]

Science Corner was great this week.

[@sarimkamal5649]

Can someone explain why are youtube ads on the pod?

[@mikeweber8402]

You guys could invite Vivek and Bobby to debate. Throw Joe Manchin in too. An All-In presidential debate.

[@brett310]

Outstanding guys.

[@knowledgelover2736]

Today the V4 was firing on all cylinders. Great guest!! Phenomenal insights.

[@videosuperhero100]

great convo!

[@alen85]

Turn the damn ads off JCal

[@willbillray]

A big consumer dynamic that’s missed is people with multiple jobs. Jobs reports don’t pick up all of us with multiple 1099 side hustles buffering a downturn

[@brian782]

Vivek!!! Love it!!

[@olga_b344]

Sachs is the best 😂😂😂❤❤❤

[@grant4011]

David Sacks for president!!!

[@gauravsahilrodrigues5593]

Wowww….Chamath Palihapitiya, the “King of SPACs,” lost his investors more than $12B with his 6 SPAC IPOs. Today, Clover and Akili have 0 enterprise value. Virgin Galactic’s is barely hovering at ~$100M.

[@waynewallace2061]

Love this content. Don't forget that we can hear one person speak at a time.

[@AndrewEaddy]

Hey Chamath, save yourself the dinner and read Essence of Decision. It cemented my passion for geopolitics!

[@marypegahi9679]

So on point w regards to the debate platform. I tend to lean left or liberal yet I'm not opposed to a republican I certainly like you would love to hear a debate. I don't understand why we're not able to have that I think the American people are entitled to that how else can we possibly make an informed decision

[@PazLeBon]

thats what we call a 'flake' in europe. You cant be left and accept a right as they are fundamentally opposed

[@angeloeliopoulos7980]

The parallels with Arthur c Clarkes foundation novels and our times is pretty amazing.

[@Driven-Productions]

Bring them all back - all so good.

[@beary0418]

Whats with the ads you guys stuck for money

[@poulticegeist]

Are ads on now?

[@Geniusproduction]

Excellent show, minute for minute, heavyweight episode right here.

[@CarlGenius]

Great Pod!

[@malifestro3319]

Solving autoimmune diseases would be amazing and a huge blessing to millions of people and families. This is actually an incredible break through.

[@PvMLad]

I fucking love this podcast

[@biancamare1]

Great news on the autoimmune issues!

[@thekevinknox]

One of the best episodes in a while fellas

[@isaiah4510]

100% RFK is getting hoesd. Literally. Yes hoesd.. Democrats f up not allowing RFK in. I'd vote for him and I'm a republican

[@t_share8032]

YESSS! EVERYONES' favorite part of the show!!!

[@t_share8032]

swwwwing and a miss for jason and sacks!!!

[@t_share8032]

ur all anuses! to the science!

[@killkandle4276]

Thank you for the extra long episode 1 hr a week isnt long enough. I agree with Sacks Dalio and Graham have to do a regular episode on the pod.

[@simbaroberts8210]

Chamath is great at explaining complex financial issues. Better than any Harvard business school professors.

[@attention_shopping]

incredible science!

[@nimeshx]

have they monetize the channel now? I see ads running

[@VirtualTourPhotographer]

Interesting how a company like Zoho won’t get mentioned here as they have no intention to ever going public

[@wademcalister4401]

HGH can be boosted with a simple fast. A few years back my bloodwork showed an increase of 15% after 22hrs. Good for muscle retention, bone density and skin elasticity.

[@tlanimass952]

They are talking about high HGH dosage, Bezos levels. The regiment you take in cycles. We are talking ~200+% boosts in HGH taken every day.

[@wademcalister4401]

Understood but seems to be associated prostate cancer. Multiple day fasts have come in @ and above + 500%

[@JscottMays]

​@@wademcalister4401Spotted the Hubberman viewer

[@ttimothytran]

Science corner needs to be in the beginning for now on lmao

[@zeemak74]

I was hoping for some discussion on the India-Canada diplomatic spat. Too contraversial for this podcast or perhaps next week?

[@mikestormmagic]

In regards to IPO's, SPAC's etc. - Clearingbid looks like they're trying to change that shite process. Hopefully they can do it! Good stuff as usual guys.

[@Zickafoose2024]

What are the current working conditions!?

[@dontaruffin659]

Best podcast hands down!

[@OdysseusAres5500]

It feels like Jason's insecurity is this constant force, that the other besties and us have to deal with the whole time... I'm not a fan. Would rather just replace him with Gurley. I seriously enjoy the other 3 so much, so I guess it doesn't matter. But maybe we need someone that's closer to a midwit, and consequently this caricature of the average normie leftie in the US that just misses all this shit. Maybe that's what we need, just to relate to our own frustration.

[@maxgetuba7577]

Great great episode!

[@aethermass]

I skip past all political discussion. I listen to every single science corner. Let Sacks nap through science corner.

[@muktauday]

Science corner is the best (btw: don’t care for juvenile jokes)

[@fbmg8547]

Great episode following a great weekend

[@joenoles1100]

Awesome show ! I agree with Chamath that the US should have issued longer duration (50,100 yr) bonds when everyone thought rates would stay low but it seems that we missed the chance. Can he explain why anyone would buy a 50 yr or 100 yr bond at some low rate (2 %?) when it his highly likely that rates will go up as the fed is forced to monetize the debt. This is an earnest question, not a criticism.

[@jrbedolla10]

Can I please host you all in Healdsburg at a winery for an episode?

[@r10651]

36:00 in Friedberg points out the most important: the real yardstick is not the IPO, it's the performance of the business.

[@garrettser1]

I love the podcast, first and foremost. But with that said, why haven’t you guys discussed Vivek’s shady history in the pharmaceutical industry… it wasn’t brought up during the pod interview and he keeps getting discussed since then. We all appreciate the open discussion you four have together and I think, it would be great to have some light shine on this topic. If anything to clarify misinformation, if there is any. Thanks for all you guys do 🤙🏼

[@PazLeBon]

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