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All In Podcast Episode 220 Recap and Notes March 2 2025

March 21 2025

  • Intro

    • Chamath learning about normal people soda machine
    • Sacks joins
    • Cyan Bannister joins

  • Chamath and Friedberg in DC

    • Chamath, Friedberg, Chamath’s wife and Sunny Madra
    • West Wing is disarmingly small
    • Met Elon
    • Happy workforce
    • Met POTUS
    • Scott Bessent episode
    • Howard Lutnick episode
    • Administration seems very transparent
    • Impressed by President’s energy and ability to make decisions
    • Need people with high executive function and have proven it to step into government and trade money for purpose

  • Cyan new fund

    • Early stage, seed checks, etc

  • Tim Walz Tesla comments

    • Shows Dem is 2 parties

      • With beliefs

        • Communists, Marxists

      • Without beliefs

        • Moderates have no idea what their beliefs are

      • Shows in the results of polling

  • Google acquires Wiz

    • $32B cash
    • Largest Google deal
    • Clearly new administration has helped with this
    • Dem admin if it came was feared to be anti-M&A and anti-tech so when Google wanted to do this a few months ago - the deal didn’t happen
    • Based on what Lutnick said in the interview - (can conclude that it seems lot of M&A might happen)
      • Providers make stuff for US govt for free - use that as the reference client
      • If its gratis then don’t need approval
    • Design matters and having taste matters
      • Even if others are doing the same thing - if you make something with good design it can create $32B value
    • Google agrees $3.2B breakup fee
    • Bet that they can expand this into their install base
    • Google’s ROIC is about 30%
    • Can use this as a trojan horse into the other clouds
    • Largest security company exit maybe ever

  • Fed and interest rates

    • Fed not going to cut as much as expected
    • When rates are low you should borrow for long term, else you’re stuck when rates rise
    • Scott Bessent agrees Fed should be independent of government
    • Unprecedented condition of federal government budget cuts and tariff regime - not clear how Fed can lean on past cases
    • Bond market in the last month has dropped rates so in some ways its hinting at the Fed to cut rates too
    • Fed was complicit in what Yellen did

  • Space race

    • SpaceX astronaut rescue
      • Discussed Boeing Starliner program disaster E192 - more money spent on Starliner than on SpaceX - Crew Dragon has had so many successful missions
      • Sad that America abandoned these people for political reasons
      • Astronauts had trouble walking after coming back
    • Firefly lunar landing

      • SpaceX vs China

      • Their rocket seems like a clone of Starship

      • Chinese industrial and manufacturing base is so much superior to America at this time that US has to catch up

        • So its lazy to say China’s lead is due to slave labor - they have amazing automation that is very advanced

      • American decline can be described using this poll

      • American left has attacked math, reading, etc and have hamstrung our kids

 

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