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All In Podcast Episode 143 Recap and Notes August 25 2023

August 25 2023



  • Friedberg NASA chat

    • Astro Woody
      • Berkeley PhD, MIT prof, now astronaut, leading Artemis mission, All in Fan!
    • Uranus jokes

  • Besties want to make their own Tequila

    • People said they’d pay ~100
    • Index towards quality instead of price
      • Example 21seeds
        • Diageo bought it
    • The Rock can play the volume game so his tequila’s price is a little less
    • Chamath recommends Villa D’Este at Lake Como
      • Candidate for AIS 2025

  • Nvidia smashes earnings

    • Incredible performance

    • Closing in on Amazon and Google in valuation

      • $1.4T

    • Board is approving a $25B share buy back

      • Very large

    • Tesla making their own supercomputer (Dojo)

    • Everyone is spending all they can on compute

    • Similar to fiber expenditure during dotcom era?

    • There was a telecom collapse in 2002

    • Nvidia is the dominant shovel provider

    • Computational biology could leverage this

    • 2015 Chart - product of gold rush was state of California



    • OpenAI released fine tuning for their models (GPT-3.5-turbo)

      • All enterprises want to control their own models
      • Everyone wants their own ChatGPT
      • So no one wants to share their data with OpenAI and instead use Open source

    • Facebook did a great thing with OpenCompute

    • So now open source for software and hardware will be great

    • CoreWeave just raised a lot of money to do basically an AWS of GPUs

    • Common crawl

      • Was 80%+ weighting of OpenAI’s GPT training
      • Open source, funded by Gil Elbaz
        • He will be at AIS 2023
        • He was mentioned in the Google S-1
        • Jason’s Weblogs Inc was also in the Google S-1

  • ARM filed F-1

    • (like S-1 for foreign company)
    • Softbank has massive liquidity needs because they have so much debt
      • Also exited Alibaba position mostly
    • Going public does allow you to reset your preference stack
      • Can get to a real valuation that reflects reality
    • Less a sign of opening IPO window and more like a forced decision
    • M&A market is more dead than the IPO market
    • The only candidate to go IPO is like Starlink or something

  • Sacks talk on VC vs PE



    • If you’re a startup that’s in the danger zone, then cut expenses and pivot to PE model
    • Jason’s dealflow doubled since AllIn
    • Profitable companies are very rare

  • GOP debate

    • Rate candidate on content, dynamic they are (personality), smart

    • Nikki Haley did well

    • Vivek did well

    • Chris Christie did well

    • Tim Scott did well

    • Vivek strategy of threading needle of being close enough to Trump but slowly building credibility with Trump loyalists could really help him later

      • Very smart, brilliant, dynamic, great orator

    • He’s positioning himself as the backup plan to Trump

    • Polls - he has done well



    • Nate Silver also said he won

    • Lot of diversity in Republican party was displayed

    • Democrats not even having a debate

      • No space to RFK Jr

    • Good moderation from Fox

    • Trump didn’t participate and didn’t suffer from it

      • Played the trump card

    • Even CNN poll shows people have turned on providing more aid to Ukraine

    • Even conservative event showed people are against providing more aid

    • Signature policy of Biden’s presidency

    • Interesting that so many republicans agree with him and against the wishes of the people of their own party

    • Mario Cuomo - You campaign in poetry and govern in prose (or campaign in tweets)

    • How important are the debates - do they just test oration skills?

    • Vivek has a lane because establishment wing of the party is out of touch with the people

      • This is what helped Trump when he won

    • Would be nice to have other systems beyond debates to show how qualified the candidate is to become President

    • What’s the contrast with hiring people (or CEO) for your company?

    • So we don’t want career politicians on the one hand but we want to test their experience on the other hand?

    • Trump nailed the 3 biggest themes of our latest political lifetime

      • China competition (hitting american middle class)
      • No wars
      • Border closure

    • Christie and Pence had an almost personal reaction to Vivek

      • They seemed dismissive and resentful

    • Trump has high negatives where he won’t be able to flip some of the swing states

    • DeSantis strategy seemed to be appealing to all factions of Republican party

      • But that might not win - coz factions are trying to beat each other

  • Vivek’s climate position

    • Reflection on lack of trust in government and elites, especially in light of what they did with covid
    • News drummed up fears of hurricane to california and there was nothing
    • Maui was hit more by dogma and incompetence and not actual climate change issues
    • Renewables help with geopolitics, no pollution, etc

  • Prigozhin (apparent) crash

    • Beware the dog that doesn’t bark

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