Skip to main content

All In Podcast Episode 190 Recap and Notes August 2 2024

August 2 2024


  • Chamath frees the button
  • Jason out sick with Covid
  • Friedberg moderates!!
  • Kamala Harris is doing well in the polls
    • Nate Silver’s model is quite favorable to Harris now, she’s gaining on Trump

    • Biden dropped out of the race - he was a surefire loser, so Dems were divided, now there’s euphoria for Kamala, so they’re united and happy

    • Biden was down because he couldn’t campaign

    • This will be a close race

    • But Kamala hasn’t done any real interview or press conferences, no tough questions, has only read from a teleprompter, done scripted appearances and has reversed policy

    • Switched on single payer, court packing, fracking, border, crime, gun buybacks, fund raising for rioters from 2020 (now distancing herself)

    • So she’s getting a free pass because MSM is basically part of DNC

    • But is it sustainable for 100 days leading up to the election?

    • J D Vance

    • Dems called Mitt Romney a fascist

    • Hopefully Trump and Harris can do 2-3 debates

    • Nate Silver analysis - these are the most competitive states



    • 5 camps of voters before Biden dropped out

      • Anything but Biden
      • Anything but Trump
      • Pro Biden
      • Pro Trump
      • Middle
    • Now the first camp is up for grabs - a lot of them could be switching into the Harris bucket

    • What’s the difference between Biden and Harris?

      • She also doesn’t make any unscripted appearances
      • So its just a construct in charge - same handlers are handling her now instead of Biden
      • Trump walks into a hostile interview at NABJ, but Harris didn’t come
      • Biden staff is still running for President
    • Harris’s campaign has come out separate from Biden’s position

      • When Netanyahu came here, she issued a pro-Israel statement
      • But she also boycotted Netanyahu when he came
    • Dem establishment is pro-Israel, but progressive base and youth vote is pro-Palestine

    • Dems are trying to have it both ways so they’re trying to thread the needle

    • Harris wants to separate herself from her Biden-Harris administration

    • We are in a recessionary stance - that will have to get put on the feet of sitting President and VP

    • So its smart for her to stay quiet

    • She will get all the pent-up goodwill for an no-Trump candidate

  • Trump NABJ interview
    • Rachel Scott tried to ambush him and he pushed back very effectively
    • Harris chickened out on her part
    • You want a President who is willing to engage and has a capacity to deal with adversity and conflict
    • Trump’s power - for good or bad - is that he authentic
    • Audience reaction shows you how well he was doing
    • When Mitt Romney spoke at this forum many years ago, he was booed
    • Rise of authenticity is a general trend now anyway - CEOs, founders, celebrities - so it will hold him in good stead
    • Harris will be a prompter President - a lot like Biden - this is similar to criticism to hired CEOs, in contrast with founder CEOs
    • This election is a good test of what kind of President people want - a Chief Executive or someone who represents their staff
    • In any large organization if you don’t have a strong Chief Executive, the org gets run from the bottom
  • Market rate cuts to come maybe in the Fall
    • Market is expecting a 50bps rate cut at some probability or a 25bps rate cut at higher probability
    • We might be in a recession
    • WFJ series on folks affected by inflation is quite poignant
    • This could hurt the Democrats in the election
    • The problem is the deficit
    • Federal government spending is > 2 x - all combined state spending
    • 30% of US employment is direct govt employment or indirect
    • The govt is an integral part of maintaining flow of money through the economy
    • Hard industries like food, agriculture, industrial production - situation is very hard
    • 100% of job creation in the last few months is govt
  • Company earnings
    • AMD up
    • Nvidia
    • Now crash
    • Meta rally - given up all their gains
    • Best AI enabled companies in the future will have 70-80% margins
      • They will be in much smaller markets, there will be many such companies
  • Ismail Haniyeh Assassination
    • Killed by a bomb smuggled into the guest house he was staying at
    • Was hidden there 2 months ago
    • Set off once he stayed in the guest house
    • Crazy intelligence capacity demonstration
    • Deeply humiliating to Iran that it happened on their soil
    • Israeli airforce is second only to the US
      • 90000 active and reserve personnal
    • 400 nuclear weapons in Israel
    • Mossad is unrivalled anywhere in the world basically
    • Israel’s military and intelligence strength is their biggest asset and their biggest liability also
    • They also did Stuxnet a long time ago
    • This seems like a reaction to Israel’s earlier failed strategy of attacking Gaza in response to Oct 7
    • Seems we’re on a path to a regional war in the Middle East
    • US is now in 3 wars/conflicts
  • Bill Ackman withdraws Pershing Square IPO
    • Attempted $25B raise, dropped to $2B, order books came < $1B, so he withdrew plans

Comments

Popular posts from this blog

All In Podcast Episode 195 Recap and Notes September 6 2024

September 6 2024 Founder Mode!!! AIS 2024 Lineup Announcements Elon! Marc Benioff Bari Weiss Kristen Sinema John Mearsheimer and Jeffrey Sachs Nikesh Arora Peter Thiel Michael Ovitz (read his book) Panels Tech Robotics Jobee, Archer, Whisk Gecko Robotics - product demo Waymo CEO Altos Labs CEO Adyen - Ingo Megyn Kelly Woody Hoburg Astronaut Thomas Lafont - Coatue cofounder Sponsors Accel Events Merch.com Etc Google Cloud $350K per AI startup Paul Graham Founder Mode essay Brian Chesky YC advice talk Inspired by how Jobs ran Apple maybe Manager mode vs Founder mode There are managers like Nikesh Arora, Shantanu Narayen, Satya Nadella who have created more value than almost all founders bar 1-2 Similar prior art High Output Management - Andy Grove Demon mode at Elon’s companies (from Walter Isaacson book) How novel is this concept really - but also how true is it Silicon Valley ecosystem revolves around Founders But Founders aren’t always rig

All In Podcast Episode 193 Recap and Notes August 23 2024

August 23 2024 Sit to pee BLS revises job numbers down ~30% 818000 down - March 2023 - Mar/Apr 2023 2.9M → 2.1M Largest revision since 2009 (GFC) Professional and business services down Sacks called it MIT publishes admissions data post affirmative action end Racial composition has changed from previously Tier 2 schools’s students might be better than Tier 1 schools’s because they are not corrupted by woke DEI nonsense, are less entitled and work harder Election Kamala doing better in the polls (Silver Bulletin shows her kinda in the lead) But Polymarket has Trump ahead Polling vs Prediction Markets is interesting Comparison of tickets Private vs Public JD Vance is historically the most unpopular VP pick Media coverage of Harris is 84% +ve and Trump is 89% -ve Walz and Harris have only ever worked for the government Vance and Trump have worked in private business Gina Raimundo caught being unaware of BLS - reacted with shock to jobs repo

All In Podcast Episode 197 Recap and Notes September 27 2024

September 27 2024 OpenAI memoriam parody Chamath on Joe Rogan OpenAI $150B valuation Converting to B corp - benefit corp - kinda like C corp - so fiduciary for not just shareholders but some external factors that’s more than just profits Patagonia is similar - for profit with a mission Non profit is a minority shareholder - much smaller now Profit cap will be removed Probably raising $6.5B Altman might get 7% stake Bull case Can probably invest the capital well - they have lead in model performance, etc Could become a true global player Maybe computing extensions stuff Revenue growth seems strong Some rumors have it higher than 3.4B so closer to 5B maybe? So valuation might be warranted Bear case Underlying technology could be replaced by open source (is Llama really good?) Meta could incorporate AI assistants into their app eco system - Google could do the same thing - so you don’t have to go to ChatGPT maybe Competing with large companies will b