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All In Podcast Episode 196 Recap and Notes September 20 2024

September 20 2024

  • All In Summit 2024 after glow
    • 20M views for content released so far across YouTube and X
  • Debrief
    • Friedberg did great
    • Team did well
    • Jason was amazing moderator
    • Mearsheimer Sachs was the best panel
  • Fed cuts rates 50 basis points
    • Markets are up
    • Last 3 times rates were cut (~2000, ~2008, ~2020), markets crashed (though 2020 was briefer)
    • If the market is good, why not cut just 0.25% to begin with? Why 0.5%?
    • This could affect hiring badly in the middle class
    • Tech hiring is benefitting if you’re in AI - but otherwise its bad
  • AI disruption
    • Call centers will probably be hit
    • Customer support makes sense for AI - they can rise through the levels of support (tier1, etc)
    • What’s important is minimizing the error rate
    • As the models get so much better - why can’t we just use the models coming next year with a smaller team
    • So this will get commoditized soon
    • So you need to target super highly regulated industries - where you need 0% error rate
    • Klarna claim of removing Salesforce, Workday - interesting
    • Now you won’t be able to spend $1B like NYC public college system did apparently on Oracle/Peoplesoft, etc
  • Rural broadband and EV charging
    • $42B and $7.5B - government is wasting money
    • 0 people connected, 8 chargers built in 2.5 years
    • SpaceX has connected ~2500 United airplanes
    • Private sector has built 1000+ of chargers
    • Naked retaliation vs Elon
    • Was Kamala Harris the broadband czar?
    • We need a 60 minutes type segment of Waste Fraud and Abuse
  • Rough times in VC
    • Hard to return capital
    • Tried SPACs - didn’t really work out in the end
    • Secondary markets play a big role
    • Lina Khan FTC killed the M&A industry - now big tech just copies startups instead of acquiring them - so everyone loses
    • Covid - 2020-2021 just increased crazy amount of liquidity
    • Things could turn for the better
  • Trump vs Kamala debate
    • She seems to have officially won
    • But moderation didn’t seem even
    • She has strong media advantage in her favor
    • Second assassination attempt isn’t even a big story anymore

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