All the crap you never needed

February 24 2023 Jason is in Japan Stripe Needs $4B for RSUs 4square is letting early employee stock options expire Does it make sense to wait as long as possible before going public? Apparently if stock options are granted and its been 10 years they have to refresh it or something and so IRS deems that an event and so you need money to cover it Apparently ADYEN is very profitable Stripe has added way too many employees Stripe has to hire a lot more people to fund tons of features to go after tail customers Adyen goes after head customers so they have to build fewer features So in hindsight Stripe should have gone public 2018-2019 Not clear if there is long term profitability in tail products Sacks post on Enterprises vs SMBs Enterprises provide better Annual Contract Value but SMBs are better early adopters Both strategies are good Its about founder market fit - better sales founder = Enterprise, better product founder = SMBs If you start with SMBs and do well then

February 17 2023 Besties Charity Poker Friedberg raised $80K for Humane Society of Animals Chamath won $361K for ~Beast Philanthropy - one of the largest food philanthropies in the US Lebron playing against 4 year olds 🙂 Poker game Alan Keating, Phil Hellmuth, etc Backlash against Mr Beast paying for cataract surgery - mainstream people are also calling it ableist - they are saying the people are being exploited Crazy wokeism, virtue signalism Ridiculous to call it ableism People are doing for others - acknowledge it and congratulate them This is equality taken to its extreme - “everyone is equal” and ignore differences Publications are tickling people’s outrage to get clicks against rich people We can hate this billionaire We can hate society We can sympathize for the victim He even gave $10K to some of those people Ohio train derailment More outrage against Mr Beast donation vs no outrage against this train derailment There was phosgene gas released due

February 11 2023 Chamath - gave his son grief about answering the phone JCal - Sacks balloon disagreement Media is reflexively hawkish Nordstream Balloon got more attention Made for TV (news) moment Why is the Nordstream story not being covered? Its not made for TV Or has news media already picked a side? When it happened, US state said Russia did it - and media raced so quickly to the conclusion But it was Russia’s main leverage over Europe Seymoure Hersh story is very detailed Legendary pulitzer prize winning journalist - 85+ years old Broke Vietnam war story - that military denied until he was proven right Broke Abu Ghraib prison abuses - military denied it again Now here he is with another report of covert military action Does Europe know? Military/authorities/CIA spokesman have said this is a fiction? Ukraine don’t have this capability But probably Norway and US and UK have the capability Before war, Biden said if Russia invades, Nordstream will be no mor

February 3 2023 Last 2 shows got lower ratings 😛 Markets up Fed raised rates slowly so market ripped Added 517000 jobs, Jan jobs report is good Wage growth data is good Powell went from hawkish in December to more benign now - only 2 more 0.25% rate hikes coming He said disinflation 11 times in his speech He capitulated and markets knew this Markets are off to the races in the short term End of last year people were tax loss harvesting - lot of stocks Tesla effectively doubled in the last small bit of time This is similar to end of 2018, start of 2019 Next 30-90 days, seems trade is to go up Maybe whipsaw economy here Risk of inflation is higher but recession maybe lower Hard to predict future Odds of soft landing this year are quite a bit better Are people finally taking jobs and going to work having burnt through their savings (trillion in savings lost apparently)? US needs to have 5-6% jobless rate for 2-3 years to get inflation