September 6 2025
- Jason/Sacks banter
- White House Tech dinner
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Lot of big leaders - representing ~half the tech industry by market cap
- Gates, Zuck, Cook, Brin, Pichai, Altman, etc
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Big moment for Sacks
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Lot of comity in the room - largely on the same page wrt what was happening in the economy and world and what they needed for the tech industry to do well in the world
- Pro innovation, pro exports, pro energy, pro worker
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Friedberg had a good podcast with Rand Paul
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Sacks, Chamath, Friedberg got to hang with the President in the White House and chill
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Karoline Leavitt etc seemed very competent
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Incredible scenes
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Melania Trump championing AI for education for kids
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Consensus in the room seemed to be that current administration is doing a better job letting the leaders do their work vs the Biden administration
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Biden/Kamala didn’t pursue this group and didn’t engage with them
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Trump 2.0 is engaging the business community and meeting them where they are
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This doesn’t mean they become republicans but folks have to engage
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- Trump tariffs not legal ruled by US appeals court
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President does have 5 statutes in his favor
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Lot of folks don’t like them
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Tariffs maybe have forced a stabilization of the dollar?
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$500B raised due to tariffs
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Will be hard for future presidents to turn off this revenue source
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Can Presidents keep their right to declare emergencies to push forward their legislative agendas?
- Democratic Presidents did that too in the past according to Rand Paul - it was hard to deal with
- Republicans not interested right now because Trump is in power - what will happen when a Democrat is in charge?
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- Trump executive actions and legal battles
- DC crime
- Weak jobs report
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Lots of revisions
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Low numbers added
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Mostly part time being added
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Crazy numbers
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Has always been a problem in terms of inaccuracy
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Have historically low unemployment
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Wage growth 3.7% this year vs 2.7% inflation
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- Google anti-trust case
- Vindication of free market capitalism and competition
- Sacks admits he was wrong to call for Google being broken up a couple of years ago
- Google is in the fight of its life
- 90% of AI consumer revenue going to OpenAI - they also have a lot of competition
- All in Summit 2025
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