500K Subscriber Livestream!

00:00:00.000 | going live. Hello everybody. Testing one, two. Testing one, two. Oh my god. Here we go. Sup,

00:00:10.240 | Kevin. All right. All right. We are live. We're live. Hey to our audience. Live on YouTube.

00:00:18.720 | Let me make sure. Turn off some. One moment while I turn off. Somebody's got their sound on. Okay.

00:00:29.840 | Everybody's got their sound off. And we are live here on the YouTube. Welcome everybody.

00:00:35.680 | Am I hearing somebody? No. Yeah, someone has their sound on. Chamath, is that you, Jason?

00:00:43.040 | Maybe it's my computer. Hold on.

00:00:45.200 | Chamath, you're live. Say hi. Hey, what's up everybody?

00:00:59.600 | I am watching you guys here, and then I have it streamed here.

00:01:03.280 | But I don't see it live. It's not live. It's actually delayed. It's definitely my other

00:01:09.200 | computer. It's on a 20 second delay. Yes, we're on a 20 second delay. Oh, it's on a 20 second

00:01:13.360 | delay. Is that your decision, Nick, for cancellation purposes? No. You can press

00:01:19.680 | the button at any time. If you say something that's worth canceling. All right. Let me open

00:01:23.920 | the show properly. Here we go. In three, two. All right, everybody. Welcome to the all in live

00:01:32.560 | stream, celebrating 500,000 subscribers on the YouTube. Do us a favor. Give us a thumbs up,

00:01:41.840 | and go ahead and tweet and share. We've got about 250 thumbs up. This is how you break

00:01:48.160 | the algorithm. If you give a thumbs up, we're now at 400 thumbs up, 3,000 people watching.

00:01:53.040 | We want to get the number of thumbs up to match the number of people watching live.

00:01:56.880 | What does that do? It breaks the algorithm, and then it shares the show with everybody.

00:02:01.040 | Go ahead and tweet it. We have taken questions for the last, I don't know, three days. Producer

00:02:06.800 | Nick put the stream up early. With me today, of course, your chairman dictator, Chamath

00:02:14.560 | Palihapitiya, and the rain man, yeah, David Sachs. At some point, the queen of quinoa, the prince of

00:02:23.840 | panic attacks, the sultan of science will join us. For now, we're sitting here in the afterglow of

00:02:30.240 | the Trump interview. Where is the quinoa button? Nobody knows. Nobody knows. We've sent a group out

00:02:37.360 | for the queen of quinoa, and nobody knows where he is. Did you send somebody to Sweet Greens

00:02:44.960 | or the organic vegan aisle at Whole Foods? Absolutely. It's starting already, man. You

00:02:52.720 | show up late. You're going to get barbecued. All right. Let's kick us off here with a little

00:02:58.080 | of the afterglow. Sachs, I understand that you got a phone call this weekend.

00:03:06.320 | Fill the audience in. Oh, God, please don't start giving us tips. 100% do not do that. I see

00:03:11.280 | somebody just gave a $10 tip. Do not give us any tips. Don't do that. What is that? That's real

00:03:16.640 | money? Yeah. This is like a thing on YouTube, I guess. Only the people who are subscribers to the

00:03:22.480 | channel can be in the chat, but you can also give what's called a super chat. Dan, Danthacrypto,

00:03:32.080 | gave us a $10 super chat, and then that puts their little logo and their chat up on the top,

00:03:37.440 | but I don't think we want you guys to send us money. Please don't do that.

00:03:40.800 | Oh, top chat. Oh, plus 11 likes. Wow. Yeah. It's just a way for you to get a little bit more play,

00:03:47.840 | but just please don't tip us. Stop. Don't. Sachs, fill us in. Oh, looks like Dave has entered.

00:03:55.920 | Should we let Dave in or no? He's in. We'll admit him. He's in. Okay. Oh, no. Here we go. Stefano

00:04:01.680 | now has given us a $5.99 pound. I guess he's from... Oh my God. Here he is. How are you doing

00:04:10.160 | there, buddy? We are live on YouTube right now, by the way. We are? Yeah, we are. How do I see

00:04:16.000 | what people are saying? Click to go to YouTube. You have to go to YouTube. You have to go to

00:04:21.520 | YouTube and click on the link, but then you have to turn off the volume. Okay. I see. What's going

00:04:27.040 | on? Well, apparently we have 1,600 thumbs up and 4,412 people watching live already. Everybody go

00:04:38.720 | ahead and give us a thumbs up. Please do not do... Hank, I just told you guys, do not give us super

00:04:44.800 | chats. Hank Lieber just gave us a $20 super chat. God damn it. Stop it. Atomics Woosh gave us a $10

00:04:52.240 | super chat. Stop giving super chats. I'm telling you now. No, we're doing that to the Trump

00:04:56.000 | campaign. All tips will go to... No. For the Humane Society of the United States.

00:05:02.320 | Oh, look at this guy trying to score points. How about it goes towards my PC12? How about we do

00:05:07.520 | that? Goes to PC12. All right, everybody. Are you reading questions, Jacob?

00:05:12.000 | Oh God. Bill just gave us a $99 super chat. Stop giving money to us.

00:05:17.520 | Give him a Trump donation link.

00:05:21.360 | All right. So I hope this doesn't blow up in your lap, but Sax, give us what happened post the Trump

00:05:31.120 | thing. You got a special phone call this weekend? Yeah. Yeah. The president called to say that he

00:05:36.960 | enjoyed the experience and to thank us. And he even said, "Even thank your co-hosts who aren't

00:05:43.280 | fans of mine." He wanted to say hi to you guys too. Oh, okay. Is he talking about me or talking

00:05:48.480 | about Freebo? Well, I said to him that even... He said the two liberals.

00:05:53.680 | Well, I said that even my co-hosts who aren't fans of his had to admit he did a good job.

00:06:02.080 | And he said, "Well, tell them I said hi too." Oh, okay. So you're saying that

00:06:06.320 | to us with the president. Got it. Okay. Thank you. Chamath, why did you say that Trump did do a good

00:06:11.360 | job? He and I really like each other. In fact, I think of all of us, he called me last November.

00:06:20.320 | That's how this whole thing started, if you remember. No, he called Chamath a friend.

00:06:27.200 | And well, he said, "One of the other guys is a friend." And then he says,

00:06:32.160 | "Say hi to the other two as well." Oh, all right. Well, thank you, President Trump.

00:06:36.480 | Look, he liked the experience. And what he told me is that he's heard nothing but positive things.

00:06:42.960 | Everyone he runs into or talks to says that they saw him on the pod. And I think it's very weighted

00:06:49.680 | towards business people. So when he meets with business people, they're all like, "Oh, I just

00:06:53.920 | saw you on the All In pod." So he said, "We have a big hit on our hands." He said, "We're like TV

00:07:01.920 | stars now." That's incredible. Imagine if we didn't have to push sand uphill with some of these

00:07:07.440 | folks. Trying to do the obvious things. I mean, it's unbelievable, you guys. Unbelievable. Easy

00:07:14.880 | to admit in hindsight, no? Well, let's go around the horn here. We are now a couple of days post

00:07:21.120 | the interview. I'm curious, Chamath, with a little bit of time between the interview, I'm sure a ton

00:07:27.360 | of feedback, what do you think were the most important moments of that interview for the

00:07:34.880 | audience, for Americans, and for the voting public? Well, I thought you saw somebody that was,

00:07:44.720 | frankly, very presidential. I think he took all questions and internalized what he wanted to say,

00:07:53.360 | and gave his version of the facts where we didn't interrupt, we didn't cajole, we didn't

00:08:01.040 | pander. We asked the question, and then we stopped, and we allowed

00:08:07.360 | the former president and someone running for current president to speak his mind,

00:08:13.600 | and put it on the record in a way that people can listen to and go back to. I think that that's

00:08:18.880 | really the most important thing. The second most important thing is that I really want this

00:08:25.600 | platform to become a place that can convene these kinds of thoughtful conversations. It takes a lot

00:08:33.040 | of investment, frankly, upfront. I think it takes a lot of effort. I'm just glad that we were able

00:08:41.120 | to get it over the finish line. I feel like we really accomplished something important,

00:08:45.760 | so I feel really good about the whole thing. Bruber, I'm sure you got some good feedback.

00:08:50.400 | We've had a little bit of time, and I saw you were reading a lot of the press hits,

00:08:55.280 | and we were talking about that on the back channel. Coming out of it, what do you think

00:08:59.280 | the important moments were, and what do you think the public, what resonated with the public?

00:09:07.120 | I don't know. I think people just like a long-form conversation with all these guys from

00:09:11.920 | Vivek to Ian Phillips to RFK Jr. to Chris Christie having Trump on. I hope Biden will come on. The

00:09:20.560 | long-form format, I think, gives everyone a much more authentic and genuine experience with the

00:09:28.480 | person that they're thinking about or considering in the voting. All the wrappers around who this

00:09:33.840 | person is can be suspended for a minute and maybe just hear a little bit from their mouth directly

00:09:38.720 | about the issues and allow all the judgment to happen outside of that context. Let them speak,

00:09:46.320 | and let's hear the voice of the person that is running. I'd love to do more of that. I think

00:09:50.960 | it's super helpful to hear the long-format discussions. I've heard so many people,

00:09:55.200 | by the way, reach out to me about Jared Kushner's interview on the show that they were so surprised

00:09:59.520 | how different he came across relative to what they've read about him and heard about him.

00:10:03.760 | He's never done much long-form until the show, and that made a real difference for people. I'm not

00:10:10.480 | saying anything positive or negative one way or the other. I just think the format's great. I hope

00:10:14.320 | we can do more of it. Then you can judge if you think they're full of shit or you think they're

00:10:18.240 | legit. Sax, a lot of back and forth and people perhaps saying the Trump administration walked

00:10:26.320 | back President Trump's comments on green cards for anybody with a college degree. He said,

00:10:35.840 | "You staple it right to degree." There was a comment, I guess, from somebody on the staff,

00:10:40.400 | "Hey, but these are going to be super vetted." I guess the cynical folks were saying, "Oh,

00:10:47.280 | he walked it all back." I didn't see it as a full walk back. I saw it as, "Yeah,

00:10:51.280 | probably be thoughtful." We don't want to let somebody hack the education system to get a green

00:10:56.800 | card if they're in fact a terrorist or something. What did you think about that exchange? I think

00:11:01.040 | that's the one that got covered the most in the media. Well, I think that what they were talking

00:11:06.880 | about was adding some sort of vetting process because if you allow every single college or

00:11:12.320 | university, even second or third rate ones to give unlimited green cards, which is basically

00:11:17.440 | citizenship to anybody, they could turn into diploma mills that are used purely to circumvent

00:11:24.560 | the normal citizenship rules. So I get that concern. There has to be some sort of vetting

00:11:29.120 | process. There probably does need to be some sort of limit on the number. There probably does need

00:11:35.440 | to be a real skills requirement. There probably does need to be a limit on which kind of institutions

00:11:41.280 | have this power because you can't just give the entire immigration system over to our colleges

00:11:47.760 | and universities to run. Yeah, maybe not University of Phoenix. Yeah. So look, I think there are

00:11:52.240 | legitimate concerns about the ways in which a proposal like this could be abused. But

00:11:57.440 | does that mean that everything Trump said was invalid? I don't think so. I think that Trump

00:12:03.360 | expressed the right sentiments and the right values, which is we want the best and brightest

00:12:09.120 | to be able to come over to the United States. We want to create the dream team here. We want to

00:12:14.400 | have high skill immigrants. I mean, he said all the right things there. And I think it's just a

00:12:19.360 | matter of figuring out how do you actually implement that policy. But I think he overall

00:12:24.480 | helped himself on that question, especially in the tech community. Yeah, that was the most positive

00:12:29.920 | feedback I got was, hey, thanks for asking that question and pushing him on it because it matters.

00:12:36.320 | And I think there were a couple other questions I thought were really important. You know,

00:12:40.080 | one of the one that you asked that turned out to be very important was the one on abortion.

00:12:43.760 | And he was extremely explicit and clear that he would not support a national abortion ban.

00:12:49.520 | Just yesterday, we got our first, the All in Pod became context for our first community note,

00:12:55.680 | correcting the vice president and maybe the president too, because Kamala Harris was out

00:13:00.720 | on X yesterday claiming that Trump would impose a national abortion ban if he were to win a second

00:13:07.440 | term. I think it's really clear that he does not support that. And so people were taking that clip

00:13:16.240 | from our show and putting it on there. I tweeted that clip. So I think that was very important. I

00:13:21.440 | think it's another example of Trump helping himself with that interview. By the way,

00:13:25.920 | he could have given the wrong answer too, you know. There are people who don't like that answer,

00:13:31.440 | but we think it's the right answer. And I think it's the right answer for him electorally,

00:13:35.600 | but he gave the right answer. Chances of him coming back, Sax?

00:13:39.360 | I think they're pretty good. I'm pretty good. Just one other question I want to point out. So

00:13:44.400 | I think the other piece of news, and I think it really should have been far bigger news, was

00:13:48.400 | when I asked him about Ukraine, and he said that NATO expansion had played a major role in provoking

00:13:54.000 | the war. Nigel Farage in the UK, who's running for prime minister on the Reform Party, came out the

00:14:01.200 | very next day and said the exact same thing. And there was a huge firestorm in the UK press because

00:14:07.280 | they're even more belligerent and bellicose over there. I mean, they are like spoiling for a war.

00:14:13.680 | And there was an absolute pandemonium in the UK press over Farage saying that. But there's

00:14:20.400 | abundant evidence that Farage is correct, and there's abundant evidence that Trump is correct.

00:14:25.680 | And I think that the two of them saying this now, almost at the same time, I think that Trump saying

00:14:30.960 | it first actually helped make it acceptable for Farage to say it. But I think both of them now

00:14:37.360 | saying it after a lot of academics have said it, Jeffrey Sachs, John Mearsheimer. I think that,

00:14:45.360 | just to finish the point, I think that it could now break open this debate over Ukraine and help

00:14:53.040 | us to get to a peace solution. All right. I remain undecided. I would

00:14:57.360 | like to ask Trump a couple more questions. I felt like the interview flowed really nicely,

00:15:01.360 | and I appreciate President Trump coming on. I would love to have President Biden come on as

00:15:06.880 | well. I don't know if that's going to happen. But let's get to your questions. A couple of

00:15:11.600 | housekeeping notes here. We will be having another All In Meetup. You can go to more than 50 meetups

00:15:21.520 | that are happening around the world on Thursday, July 11th. Go to allinpodcast.co/meetups. Allin

00:15:27.600 | podcast.co/meetups to join or host an event. Nick will drop the links in the YouTube chat.

00:15:35.200 | And as for the summit, quick housekeeping before we get to your questions. We are holding back a

00:15:43.760 | couple of hundred tickets for scholarships. Am I correct, Friedberg? Anything you want to

00:15:47.120 | let people know about the summit before we get to questions?

00:15:49.600 | It's going to be amazing. It's going to be awesome. We have some really great speakers. We

00:15:54.880 | want to try and announce everyone together, which we'll do in a couple of weeks. But we did just

00:15:59.120 | open up 200 more tickets, which we were holding back. So the first batch all sold out. We have

00:16:05.760 | 200 left. If you go to allinpodcast.co or allinsummit, I actually don't know.

00:16:12.000 | Summit.allinpodcast.co.

00:16:14.960 | Summit.allinpodcast.co. You can submit an application. We are going to have-

00:16:21.040 | Is the scholarship form up yet or we're going to put that up in a couple of weeks?

00:16:24.320 | Okay. So we're going to put that up last minute, I guess. All right. Let's get to your questions,

00:16:30.240 | everybody. Once again, give a thumbs up for your squad. Hit the subscribe button,

00:16:34.080 | share it on your socials, and let's get started. Here's a great question for all the besties.

00:16:41.920 | Dave's Dynamite asks, "Who is your dream guest for the show?" Who is your dream guest

00:16:48.960 | for the show, Chamath Palihapitiya? Dream guest.

00:16:51.440 | Dave Chappelle.

00:16:53.840 | Oh, nice. Really nice. He would be extraordinary. Sax, your dream guest came on last week,

00:17:00.800 | so I'll just ask you, who is your second dream guest to come on the pod?

00:17:03.920 | Well, I'd like Biden to come on the pod and submit to the same type of questioning that Trump did.

00:17:09.440 | Okay. At this moment in time, you say Biden. That was going to be my answer as well.

00:17:13.680 | Freeberg, tell us which fictional science fiction character from Dune you would most

00:17:20.640 | like to see on the program as your guest.

00:17:22.880 | Great question, J. Cal, but my answer is Javier Millet.

00:17:26.080 | Oh, great pull. Great pull. Why?

00:17:30.400 | I think Javier Millet represents the salvation of the West. I think that much of the West is headed

00:17:41.760 | in a direction that he's, I think, described well, which he generally calls socialist policies

00:17:51.120 | that negatively impact productivity and progress. Argentina learned that lesson hard and over a long

00:17:59.680 | period of time, and he has kind of Superman-like gone around the world, flying seven times around

00:18:06.960 | the earth in reverse time, and tried to revitalize that country and that economy. He's gotten foreign

00:18:14.400 | dollars to go back into Argentina. He's run a government surplus. Unemployment is declining.

00:18:20.560 | All the benefits of having free markets and having capitalism drive progress for everyone

00:18:26.160 | seems to be playing out in a very short period of time in Argentina. I think that he kind of

00:18:31.520 | represents the next phase of what could be a nasty decade or two ahead.

00:18:38.160 | You know, now that I think about it that we're talking about world leaders,

00:18:41.040 | MBS, Xi Jinping, should be incredible guests as well, huh, Chamath?

00:18:47.280 | Yeah. I think there's a decent chance we'll get at least one of them.

00:18:53.360 | All right. There you have it, folks. All right. Minesh Deva asks us, "How do you view AI

00:19:00.560 | and how it will influence your kids' education?" Saks, I know you're super involved in this,

00:19:08.480 | so what are your thoughts? You have three kids, by the way.

00:19:11.600 | Well, I think the way that AI is going to influence education is that you could create

00:19:17.120 | highly customized AI tutors. And so I think the revolution could be that every kid can now receive,

00:19:26.000 | again, specialized, bespoke, custom education as opposed to being on an assembly line.

00:19:31.760 | I mean, the way that we make education today is the same way that we make, you know,

00:19:36.560 | Fords or McDonald's hamburgers, right? It's a big assembly line where you create a large batch

00:19:43.440 | and you just move it forward. And some people need to go at a different pace. Some people

00:19:48.800 | need to go slower. Some people need to go faster. Some people need to be on a completely different

00:19:54.240 | type of conveyor belt. And you don't get any of that right now. And with AI, you have the ability

00:20:00.800 | to cost-effectively deliver, again, a highly customized education experience for every

00:20:06.000 | child. So I think that's where it's going, but it's going to take several years to play out.

00:20:11.520 | Yeah. And this is referred to in the industry as adaptive learning, if you want to go

00:20:15.200 | take a look at that. Chamath, your thoughts on AI and our kids' future? I'll expand the question a

00:20:20.080 | bit, not just education, but how will it impact our children's career choices and lives generally?

00:20:27.520 | Wow. I mean, I think that the nature of work is going to change really profoundly.

00:20:38.000 | And I think that right now we have not equipped people to take advantage of it. So

00:20:46.160 | the things that are known knowns, to use the Donald Rumsfeld quote, will be automated away.

00:20:53.040 | Unknown knowns will also be automated away, because that's just about computational horsepower.

00:21:00.880 | So any job that you did that's formulaic will get replaced probably by a robot. And any job

00:21:08.240 | where you're making guesses, but the answer can be inferred or known, that job will go away as

00:21:13.920 | well. So what's left over? I think it's judgment, where you have to express some error rate. And

00:21:21.440 | that's acceptable, because the job requires you to judge something, and people like that.

00:21:25.440 | Now the question is, how do you train kids to have judgment? And this is where I think we

00:21:30.560 | have really let kids down. Where does judgment come from? It comes from experience. Where does

00:21:35.360 | experience comes from? It only comes from failure. Where does failure come from? It comes from a

00:21:41.440 | culture that celebrates resilience and says, go take these risks, go try some stuff. It's actually

00:21:48.160 | really good that it didn't work. Let's talk about why. Instead, if you live in a world that's all

00:21:53.360 | about coddling folks and microaggressions and window dressing, the kid won't be resilient.

00:22:00.640 | The kids don't take risks. And then there's just a parade of terribles that leave these people

00:22:06.160 | inexperienced and without judgment. And then I think the computers just run over these folks.

00:22:11.760 | I have been giving this a lot of thought as well. And I have been having my daughters go to the

00:22:17.840 | store on their own with money to buy stuff and doing all this kind of resilient, adventurous

00:22:24.320 | activities with them, having them take risks, do dangerous things, or what maybe helicopter

00:22:29.680 | parents would think are dangerous things. Because all that's going to be left, if you can get the

00:22:33.680 | answer to any question, if everybody's a good painter, writer, photographer, designer, coder,

00:22:39.760 | what's left? Taking risks, to your point, Shamath, and having grit, and maybe being a great

00:22:44.480 | communicator and a great leader. Freeberg, are you thinking about this at all, AI's impact and

00:22:50.160 | how it's impacting how you parent your children? I think it's just finding leverage. The transitions

00:23:02.800 | that are possible with every technology frontier in human history have been ones of leverage where

00:23:09.200 | the human role can scale up. And does it really matter if you know how to do good handwriting

00:23:15.200 | when everyone's typing? Does it really matter if you know how to type if everyone's dictating?

00:23:20.480 | And what can you really do that differentiates you at that new up level? And I think that's

00:23:27.280 | really important to think about. I think a lot of people transition from a world of

00:23:32.480 | labor to design, like you become architects and what the implications of that and how to

00:23:41.520 | be successful in that environment is how I would think about re-education and how I would think

00:23:46.080 | about motivating success. Fantastic. Okay. Ted Zhang asks, "Been watching the podcast for years

00:23:51.520 | now. As a 23-year-old out of college, what are your pieces of advice for getting into bigger rooms

00:23:57.520 | with more intelligent, smarter, well-connected, and able individual sacks?" You were part of the

00:24:02.960 | PayPal mafia. You got yourself in the room, part of the Stanford community as well. What's your

00:24:09.840 | best advice here for Ted who's looking to get into the room where it happens?

00:24:13.680 | You're on mute, Sax. It's year four of post-pandemic,

00:24:20.000 | kids still on mute. Okay. I think I would just generalize the advice

00:24:25.120 | a little bit more and just say that the advantage that a young person has is that you have the

00:24:33.120 | ability to be obsessed in a way that when you get older, it's harder to be. That as you get older,

00:24:39.360 | you get more responsibilities, you have family, you want more breadth in your career. I think

00:24:44.480 | when you're young, you have the ability just to focus on a particular area, be really obsessed

00:24:49.920 | with it. It's a magical thing. It's a superpower that younger people have that it gets hard to

00:24:57.680 | maintain that level of focus as you get older. I would lean into that. I would say find something

00:25:05.120 | that you're excited enough about to be obsessed with. That's my generic career advice.

00:25:11.920 | Chamath, you came out of nowhere to find yourself in the room where it happens at AOL,

00:25:22.720 | room where it happens in Ventureland and at Facebook. You've done it a couple of times.

00:25:28.160 | How does Ted get into the room where it happens? Well, I think Ted needs to

00:25:33.520 | embrace the idea that his life is going to be made of chapters. I think that some chapters will work,

00:25:45.360 | some chapters won't work. Some chapters will work incredibly well. Some chapters will be benign

00:25:52.880 | in his life. You have to just take a shot as best as you can when the shot presents itself.

00:26:02.960 | The reason why I say this is that if you view your life as a series of chapters,

00:26:09.840 | the real problem is going to be everybody else because they're going to want to define you by

00:26:14.560 | one chapter. That's because it allows them to compartmentalize their shitty life.

00:26:20.880 | You have to be very careful in not allowing the expectations of other people to drag you down.

00:26:26.480 | You should live eight or nine careers. You should try seven or eight or 10 or 15 different things in

00:26:35.760 | your life. I've had many chapters from cashier at Burger King to entrepreneur to executive to

00:26:44.400 | rank and file worker to investor, all of it. Not one is more important than the other.

00:26:51.280 | The only people that will try to make you feel good or bad about any one chapter are the ones

00:26:57.040 | that are just completely impotent and on the sidelines and they can't get out of their own

00:27:02.400 | way. Just view your life as a series of chapters and just try your best. Don't be afraid to take

00:27:07.760 | risk. You're saying also don't over-index on other people's opinion. I think that's something you and

00:27:12.000 | I have talked about. You fell victim to that maybe a little bit in your career, you said?

00:27:16.080 | Well, I just think people will try to pull you in a cul-de-sac because they themselves are frozen.

00:27:20.080 | All right, Friedberg. Ignore the haters. Focus on your craft and your skills.

00:27:28.560 | Friedberg, I know that you've been torn, 1989 era, reputation era, lover era. What's your

00:27:34.800 | favorite Taylor Swift era at this point? I know you've gone back and forth.

00:27:38.800 | What? I'm talking with you. I'm telling you the Taylor Swift era is as if you would know-

00:27:44.160 | I don't know. Well, what is Taylor Swift's era? I don't know this stuff.

00:27:48.240 | Reputation era. People are just obsessed with Taylor Swift. It's crazy how much people are

00:27:53.920 | obsessed with Taylor Swift. Did you guys see that Travis

00:27:56.400 | Kelsey went on stage and Wembley with her? I did see that.

00:28:00.240 | I hope he didn't try to sing. No, but he did dance and it was pretty good,

00:28:03.440 | I thought. That's got to be a lot of pressure to go there in front of 100,000 people and not

00:28:08.720 | totally be two left feet. He did a good job, I thought.

00:28:11.120 | No, but any advice? If you saw what he was wearing at the

00:28:15.280 | Super Bowl, you know that he doesn't mind making a fool of himself.

00:28:18.160 | She's a star. She's such a star. I would like to go to the Aeros store just to

00:28:24.880 | soak it in, right? Just to check it out. Same. I wouldn't mind going to it either.

00:28:28.880 | There's a 50/50 chance I go to it in Milan. Oh, let me know the date.

00:28:34.960 | Doesn't she perform for like three or four hours? I mean, these things are-

00:28:38.320 | That's the thing, it's the Aeros store. It's a whole thing.

00:28:40.800 | That is a long performance. And I guess people don't get sick of it.

00:28:45.360 | What's the total revenue on this thing? I would get sick of four hours.

00:28:47.760 | It's like two billion, three billion, right? It's like an insane haul.

00:28:51.920 | And she owns all the equity? It's like a good quarter.

00:28:55.840 | Multiple of them. Okay, it's a good quarter.

00:28:59.040 | InVideo went up that much since we started the live stream.

00:29:02.480 | It's a good quarter. It's a good quarter.

00:29:04.560 | All right, your donations as you know today, if you do a super chat, all those donations go to

00:29:08.480 | the Haktua Fund to help her find a new job. Thank you to everybody donating.

00:29:13.760 | Is it true the Haktua lady got, or the girl got fired?

00:29:16.480 | The woman? I don't know. This is just a rumor, but I mean, it's kind of taken over everything

00:29:21.920 | for the last 72 hours. Is it true that-

00:29:23.120 | No, I saw something. I don't know if it's true or not, but I saw online that apparently she

00:29:26.560 | was a preschool teacher and they didn't like- I mean, I thought she was funny.

00:29:31.360 | Of course, it's hysterical. Of course.

00:29:33.040 | Hilarious. She's super funny.

00:29:34.720 | What is the big deal? Why are people so like uptight?

00:29:36.960 | I don't know. Apparently some people think she might be a bad influence on their

00:29:40.480 | preschool age kids. I don't buy it. Oh my God. No, I don't buy it.

00:29:43.040 | She's an adult. It's an adult kind of goofy thing. Stop with this pandering. Look at this-

00:29:46.960 | Okay, so here's the deal. My wife was really upset because I made it sound like I wasn't

00:29:52.080 | happy with these two dogs. Here they are when they showed up off the street.

00:29:57.040 | I rescued these. What do you think?

00:29:59.200 | My IQ rating is going up. In Italian, they're called Bastardini.

00:30:03.680 | Yeah, this is a Bastardini. This is a little Italian Bastardini.

00:30:06.800 | No, that's a Bastardino. Two of them are Bastardini.

00:30:09.600 | Oh, is that Bastardino Carpaccio? Is that what you had the other day? The Bastardino?

00:30:12.880 | The Bastardino. Thank you.

00:30:14.880 | So wrong. All right, let's keep going here.

00:30:20.400 | Oh, is there any more of this or no? Next question.

00:30:22.960 | All right. Oh, I'll just give that person, Ted, to Sax's point about getting focused

00:30:28.960 | on your career. When you do find the one thing you love, building your social media around that,

00:30:34.000 | your entire online identity, whether you have a podcast yourself, or you make TikTok videos,

00:30:39.760 | or your socials, blogs, Substack, Beehive, whatever your jam is, just really get focused

00:30:46.000 | on one thing that you can excel in. I've given this advice multiple times, and doing spec work

00:30:50.480 | and showing that you're doing work in the world independent of getting paid is a very powerful,

00:30:55.440 | very powerful tool. We've seen that over and over again with the all-in creators,

00:30:59.120 | so don't be afraid to just do work online and share it with the world around your passion.

00:31:05.120 | Okay, let's take another question from the audience here. We got the 26-year-old. Nick,

00:31:13.520 | you are also pulling in questions. Producer Nick is pulling in questions

00:31:16.640 | from the audience in real time, correct? Yes.

00:31:19.920 | Yes, Nick. Okay. Let's see. This is Dominic McDermott. "What experience and habit systems

00:31:28.800 | from your childhood contributed to making you the skilled individuals you are today?"

00:31:33.280 | Sax, anything from the rough and tumble childhood you had in the South of America?

00:31:40.400 | He's not from the South. He is from the South.

00:31:44.640 | I grew up in Memphis.

00:31:45.440 | That's not true. Yeah, I grew up in Tennessee.

00:31:47.440 | Oh, that's right.

00:31:48.400 | I mean, well, we moved there when I was five years old. I mean, I was originally from South

00:31:51.360 | Africa, and then my family moved to Tennessee when I was five. As I look back, I read a lot

00:31:56.640 | when I was a kid, and I didn't really think of myself as an outlier in that department when I

00:32:02.000 | was younger, but now I realize that I clearly was, and by today's standards, it would be a huge

00:32:08.320 | outlier. Kids today, you just can't get them to read. There's just too many entertainment options

00:32:13.280 | or too addicted to screens. It's actually kind of depressing. I read a lot when I was a kid.

00:32:19.040 | Define a lot, a book a month, a book a week?

00:32:22.240 | Well, it's more like if I got interested in something, I would go down the rabbit hole

00:32:27.840 | and just kind of read about it until I completely exhausted that. I remember,

00:32:32.240 | I think in like 10th or 11th grade, I learned about Darwin, and I had never been exposed to

00:32:38.960 | that before. And so I ended up reading, the teacher recommended Stephen Jay Gould and Richard

00:32:48.960 | Dawkins as other authors that I might want to read if I was interested in the subject matter.

00:32:53.440 | I ended up reading every single book by Richard Dawkins, every single book by Stephen Jay Gould,

00:32:58.960 | not one of them, like all of them. And at the time, this is what I was interested in, so that's

00:33:04.480 | why I read it. But looking back, that was clearly an outlier behavior.

00:33:08.800 | Must have been tough for you when Tucker told you that all that Darwin stuff was

00:33:12.240 | actually not true. It must have been tough. It must have been heartbreaking, in fact.

00:33:18.000 | Chamath, anything from your childhood on the rough and tumble streets in Canada

00:33:23.200 | that put a little fire in your belly today?

00:33:26.320 | Yeah, I mean, the Venn diagram is growing up on welfare and

00:33:31.920 | getting beat mercilessly by my dad. It turned out to be incredible, incredibly valuable.

00:33:37.760 | Okay, there you have it, folks. If you can get your parent to beat you,

00:33:42.000 | beat your ass, you will be successful.

00:33:44.240 | Well, no, and be on welfare. I think those two-

00:33:46.640 | And be on welfare, yeah. Freeberg, you led a charmed Nepo baby life. Tell us,

00:33:51.280 | how did that inform all this great success you've had?

00:33:53.840 | Pass.

00:33:55.520 | You pass? He does not want to talk about his childhood. You did that three hours this week

00:34:00.000 | in therapy. Why do a fourth here?

00:34:01.920 | I left home early. I was 15 years old when I moved out of my home and went to college.

00:34:06.000 | I was on the road, so I was eager to move on.

00:34:10.000 | Okay, so the trauma is real. We'll leave it at that. You know what I learned? I've learned

00:34:15.040 | you've got to run in a pack and your safety in numbers when you grow up in Brooklyn.

00:34:21.440 | I have no fear of getting in any kind of an altercation or fight. I do think

00:34:30.240 | like I did learn to have a thick skin and be tough growing up in a bar in Brooklyn.

00:34:37.440 | I'll leave it at that. All right, let's take another question here. Let's see.

00:34:43.200 | You guys see all these comments coming in?

00:34:47.440 | I mean, I can't follow it. They're too fast. And please, stop giving us superchats.

00:34:50.480 | There's like live trolling. Yeah, live shout outs. It's super interesting.

00:34:55.680 | Stop giving superchats. Stop giving money to us.

00:34:58.640 | How much money have we collected so far? I can't even keep track of it. It's just

00:35:02.400 | there's like a hundred people have given any amount of money.

00:35:04.800 | Where does that money go, J. Cal? How are you going to grift that?

00:35:06.560 | I'm trying to figure that out. I'm trying to figure out how to get that money into my-

00:35:10.400 | Nick, how do you make sure J. Cal can't get his rubby paws on that money?

00:35:13.440 | Nick, can you see how much money it's been total so far?

00:35:15.760 | Not yet. I think I can afterwards.

00:35:18.560 | I just want to know, is it like half an arm of the sweater? Is it like most of the sweater?

00:35:24.320 | Is it all the sweater? I just want to get a sense of it.

00:35:25.520 | Yeah, I think it's like the zipper area.

00:35:27.200 | That's the zipper. Okay.

00:35:29.040 | I think we're about a quarter way through it, but I see a couple of hundies in here.

00:35:32.720 | Some people gave Brandon gave a 50, Bill gave a 99.

00:35:36.160 | I mean, people are giving hundies and stuff like that. It's just absurd, but-

00:35:39.520 | Well, for a thousand dollars, you can buy the sweater.

00:35:41.440 | All right. Here we go.

00:35:45.840 | Wait, you want to prioritize superchat questions?

00:35:47.920 | I mean the zipper. I mean the zipper. Sorry, not the sweater.

00:35:49.600 | Yeah, sure. Yeah, absolutely. We're going to give all this money-

00:35:52.320 | Yeah, get the superchat, guys, to say something.

00:35:54.640 | What is a superchat? What is a superchat?

00:35:56.080 | Anybody who gives money will do their question.

00:35:58.400 | Okay. I got a superchat question.

00:35:59.600 | $1. Frank Jimenez just gave a dollar trying to sneak in.

00:36:02.400 | You can't sneak into the Velvet Rope for a dollar, bro.

00:36:04.560 | $1.

00:36:05.280 | $20 from Alex Thomas.

00:36:06.640 | No, he gave a dollar.

00:36:07.520 | I just gave the woman at Balthazar a $1 tip for a table. It's not how it works, kid.

00:36:13.760 | That's not going to get you a table.

00:36:17.120 | David Sachs, this question is for you.

00:36:18.720 | Oh, here we go.

00:36:19.520 | $20 from Alex Thomas. How is the all in tequila business coming along?

00:36:23.280 | And will you allow your fans and community to invest?

00:36:26.080 | Wait. Hold on. Wait. I think that we should answer this on behalf of Sachs,

00:36:29.680 | because Sachs has been doing this. And every now and then, it's like an Easter egg.

00:36:34.000 | He texts into the group chat an update. I am not a tequila drinker, but I will say

00:36:38.800 | it looks totally fucking amazing. I can't wait. And I don't drink tequila, and I cannot wait.

00:36:47.280 | That's what I'll say.

00:36:48.560 | All I'll say is, I saw the bottle-

00:36:50.560 | It's really incredible. I mean, what you have done is really incredible.

00:36:54.400 | I saw the bottle and the packaging, and my pee pee got hard. I'm just leaving it at that.

00:36:58.800 | It's incredible. I mean, where are you in this whole thing?

00:37:02.560 | It's going to make more money than anything else we're going to do ever.

00:37:05.040 | Is it manufacturable, Sachs? That design? Are you going to be like, "Hey, don't reveal too much."

00:37:10.880 | Yes, it's good. It's good. It's good. It's happening. It's happening. Everything's on track.

00:37:15.680 | It's one of the most beautiful designs I've ever seen.

00:37:18.080 | We're hopefully going to unveil it at the All In Summit.

00:37:22.880 | If you're at the Summit, you'll be able to pre-order it.

00:37:28.480 | I don't know exactly when it'll ship.

00:37:31.920 | Give them the taste of the hierarchy.

00:37:34.560 | There's a super limited bottle.

00:37:37.760 | It tastes better than what is the thing that you said that's really, really good?

00:37:42.160 | Well, we're taste testing against Class Visual Ultra, which is $3,000 a bottle or whatever.

00:37:48.160 | And it's better than that?

00:37:48.960 | Yeah. That's the goal. Yeah.

00:37:52.880 | I am so excited about Sachs's-

00:37:56.400 | Sachs, you just drink, you sip tequila with like an ice cube in it. Is that how you do it?

00:38:00.160 | Yeah.

00:38:00.720 | But you would never use this tequila to make like a margarita, right?

00:38:03.600 | No, no, never.

00:38:04.480 | This is too much.

00:38:06.000 | Margarita is too much.

00:38:07.360 | You'd want to use like a Blanco or something and a margarita.

00:38:11.440 | A margarita.

00:38:13.360 | This is extra on Yeho.

00:38:15.200 | So this has been aged in a barrel for five years.

00:38:19.040 | How's the $3,000 tequila?

00:38:21.840 | I'm blending it up with some sugar water.

00:38:23.680 | Yeah, you just want to drink it over ice.

00:38:25.040 | I mean, some people will drink it neat, but that's way too hot in my opinion.

00:38:28.960 | That's tough.

00:38:29.600 | But you want to water down a little bit with some ice.

00:38:32.480 | Open it up.

00:38:32.880 | That's the right way to drink it.

00:38:34.000 | Yeah.

00:38:34.240 | Open it up a little bit.

00:38:35.120 | That's how Sachs and I, when we would hang at the battery, we'd do that.

00:38:38.000 | I like Sachs's move.

00:38:39.040 | Sachs came in into the whole mashugana of this enterprise.

00:38:44.640 | And he said, "I'll do the tequila.

00:38:46.080 | Give me a quarter million dollars in this LLC and everybody shut the fuck up.

00:38:50.480 | And I'll be back in six months."

00:38:51.840 | And you know what?

00:38:53.040 | Everybody shut the fuck up and he brought it.

00:38:56.480 | He brought the heat.

00:38:57.600 | I am so excited for this.

00:38:59.840 | You want another super chat question?

00:39:01.600 | Yeah, sure.

00:39:02.400 | $50 from Eric.

00:39:04.240 | Okay.

00:39:05.440 | What is one thing that makes each of you most optimistic?

00:39:08.560 | Can we allow, sorry, can we allow anybody that's given beyond a certain, like the 50 bucks,

00:39:13.520 | give them a chance to pre-order a bottle?

00:39:15.280 | I think that's kind of nice.

00:39:16.720 | How many of those guys are there?

00:39:18.320 | No, like-

00:39:19.120 | That's tough to track.

00:39:20.080 | That's tough to track.

00:39:20.560 | It's tough to track.

00:39:21.600 | Why, Nick, can you tell who's given at least 50 bucks or more?

00:39:24.160 | If they've done that, which we don't want them to do, let them at least pre-order a

00:39:26.880 | bottle with it.

00:39:27.760 | Now people are going to do it.

00:39:29.040 | Now people are going to do it.

00:39:30.000 | Yes, if you donate $50, we'll get your name and you'll get to pre-order a bottle.

00:39:35.360 | Someone sent $100 and said, "This is for the zipper."

00:39:38.640 | Oh, okay.

00:39:39.120 | We have a very wealthy audience listening right now.

00:39:40.960 | This is pretty crazy.

00:39:42.000 | Anyway, $50 from Eric.

00:39:43.600 | What is one thing that makes each of you most optimistic?

00:39:45.360 | Nick, get his name so that we can give him a chance to-

00:39:47.520 | Eric Somerville.

00:39:48.800 | Okay.

00:39:49.040 | What is one thing that makes each of you most optimistic and motivated about the rest of

00:39:52.560 | 2024 and 2025?

00:39:54.000 | Well, I'll tell you something.

00:39:56.400 | I have my advisory board meeting for my legacy venture funds, and I was going to write this

00:40:05.280 | up.

00:40:05.760 | It's hard actually to post a PDF in an ex post.

00:40:10.160 | You can do it in Substack a lot easier, but this was the first quarter since Q1 of '22

00:40:18.720 | where I have not had a meaningful drawdown in my portfolio.

00:40:23.040 | So I kind of think things have bottomed.

00:40:24.800 | So before I was more optimistic at the beginning of January, not knowing where valuations would

00:40:30.400 | be, because a lot of these valuations in all these private companies are not obviously

00:40:34.800 | set by us.

00:40:35.360 | They're set by third-party firms pricing new rounds or valuation firms that comp it to

00:40:40.640 | the public markets, which are still depressed.

00:40:42.240 | Saks tweeted about this today about, I think, GitLab, which is like a nutty valuation.

00:40:47.600 | But despite all of that, that portfolio, that section of social capital has stabilized.

00:40:55.760 | And that was really heartening for me to see that.

00:40:58.960 | So I'm actually just excited that we're beginning the process of rebounding, which if you think

00:41:03.280 | there's going to be a bunch of cuts in the back half of this year and into next year,

00:41:06.800 | these next 18 months are going to be okay for the private markets.

00:41:13.440 | We tend to price those things forward by that amount, if not more.

00:41:17.760 | So I think that valuations are in a decent place, at least looking at the numbers.

00:41:22.400 | Saks, anything you're looking forward to back half of the year?

00:41:27.840 | Well, I think daddy's coming home to the White House.

00:41:32.240 | That's got me excited.

00:41:33.760 | But on a personal level, I guess I'm excited about working on Glue.

00:41:41.920 | So that's a lot of fun right now.

00:41:43.280 | So we did a limited release behind a waitlist, and we're onboarding,

00:41:52.000 | I don't know, about 40 companies a week now.

00:41:54.320 | And then as we do that, we discover more needs and issues.

00:41:57.440 | We knock off those feature requests, and then we take the next 40.

00:42:02.240 | And so we're just doing this systematically until we can go GA, general availability,

00:42:06.880 | where there'll be no waitlist, everyone can just sign up.

00:42:08.800 | And we're kind of racing towards that date over the next two to three months.

00:42:12.080 | I think that's exciting for me.

00:42:13.840 | Freeberg, anything that you're looking forward to?

00:42:19.520 | I'm looking forward to the election being over so we can stop talking about politics, number one.

00:42:22.880 | Number two is I'm building a business at O'Halo.

00:42:27.200 | I am very excited every day with the progress we make.

00:42:30.800 | We are building incredible products.

00:42:32.960 | We are signing deals with customers and partners.

00:42:36.720 | Every milestone is exciting when you're building something new and novel.

00:42:40.480 | And seeing it work in the market, it's pretty awesome.

00:42:43.440 | So that to me is just like, you know, and there's such a long runway ahead.

00:42:49.760 | And there's all these great problems to solve.

00:42:51.360 | So I love it.

00:42:52.560 | It's great.

00:42:53.060 | Fantastic.

00:42:54.800 | Yeah, I echo Freeberg.

00:42:57.360 | It'll be great for the election to get resolved.

00:43:00.800 | I am super excited about, hmm, am I super excited about back after the year?

00:43:09.680 | I'm excited for ski season again.

00:43:12.800 | And I am super excited about some of the companies we're investing in.

00:43:18.160 | Chamath, to your point, I think the bottoming out has occurred and we're starting to see

00:43:22.320 | a lot of secondary offers come in for shares in some of our Fund 1, 2, and 3 companies,

00:43:30.640 | which are Fund 1 and 2 companies.

00:43:32.240 | Those are the ones that have more time to bake.

00:43:33.920 | So that is actually, I think, a sign.

00:43:35.440 | I don't know if you're starting to see that.

00:43:36.480 | Now, some of them are lowball offers where people are offering half off the peak valuation,

00:43:40.560 | but it's an offer nonetheless.

00:43:42.080 | And there was no bid for, what, 18 months on any of these companies or with the exception

00:43:46.800 | of maybe SpaceX and Stripe.

00:43:49.040 | So yeah, it feels like it's bottoming out.

00:43:50.560 | Well, I don't know.

00:43:52.240 | I mean, so I think there's a huge gap right now between public and private valuations.

00:43:55.760 | So I retweeted Jason Lemkin this morning, which Chamath referred to,

00:44:00.720 | who pointed at GitLab's numbers.

00:44:03.440 | I mean, this is a company that's got $700 million of ARR.

00:44:05.680 | It's public.

00:44:06.320 | It's valued at about $6.9 billion, so 10 times ARR.

00:44:10.000 | Scoring 30% year over year, which means it's going to add over $200 million of ARR over

00:44:15.600 | the next year.

00:44:16.160 | It's got 130% net dollar retention.

00:44:19.360 | So basically, all of its existing customers are expanding about 30% every year, which

00:44:24.400 | is amazing.

00:44:25.040 | Expand that, show more, just for the rest of the stats.

00:44:28.960 | If you click show more, you can see the rest of Jason Lemkin's tweet.

00:44:37.040 | Oh, there it is on the side.

00:44:38.480 | Yeah, anyway, it's actually profitable.

00:44:40.000 | It's generating 20% free cash margins.

00:44:43.040 | And again, this is only worth 10 times ARR.

00:44:46.960 | And then if you look at private markets, the last two companies that I talked to, which

00:44:52.320 | are exciting companies, they're at 10 million of ARR, and they want billion dollar valuations.

00:44:58.880 | 100 times.

00:45:00.720 | Yeah.

00:45:01.040 | And I don't know if they're going to get that.

00:45:02.400 | Like, it may land at $800 or $900 million, but still, they want 80, 90, 100 times ARR

00:45:08.400 | valuations.

00:45:09.360 | Now, they're growing a lot faster than 30% year over year, but are they really going

00:45:13.520 | to be growing faster than 30% when they're at $700 million of scale, or even $100 million

00:45:19.040 | of scale?

00:45:19.760 | Pretty hard to do.

00:45:20.800 | It's very hard to do.

00:45:21.760 | So there's still a very big gap between public and private valuations.

00:45:25.520 | Or the question is, which of these would you rather invest in?

00:45:29.040 | I mean, a company that's totally de-risked, it's already public, it's fully liquid, and

00:45:34.400 | it's growing very nicely.

00:45:35.600 | It's weathered the storm.

00:45:36.800 | I don't know.

00:45:38.080 | I mean, buying a basket of pretty fast-growing SaaS companies at 10 times ARR seems like

00:45:46.160 | a fairly attractive strategy to me right now.

00:45:48.000 | We just had our first private equity firm come into one of our companies.

00:45:53.760 | Actually, it's happened twice now in the last year.

00:45:57.120 | Private equity kind of crossover funds, asking to buy a percentage of a company and kind

00:46:02.240 | of take it over.

00:46:03.040 | So I think that's a sign, perhaps, of a healthy market where you have many options of what

00:46:09.680 | to do with your funds.

00:46:11.280 | And some venture funds are choosing to maybe buy out companies and act more like private

00:46:16.000 | equity because they see maybe a better opportunity.

00:46:19.840 | But there's a lot of venture money out there still, huh, Zach?

00:46:22.000 | So that's pushing the bid up.

00:46:24.160 | People are looking to find that 10 million, 20 million ARR company and place a bet.

00:46:30.080 | There's just too many funds.

00:46:31.200 | Let's take another question, Nick, from the audience.

00:46:33.040 | And what's the record right now in terms of donations?

00:46:36.960 | Because this is all going to go to charity, folks.

00:46:38.480 | Dead serious.

00:46:38.960 | We'll figure out the charity later.

00:46:40.560 | I think 200.

00:46:42.000 | There are some coming in in different kinds of currencies that I have to convert manually.

00:46:45.760 | But right now for USD, I see 200.

00:46:48.160 | From Rahil, he said, "I don't want a zipper.

00:46:50.480 | I'm about to deal sleds.

00:46:52.000 | Respectfully, how much for the Laura Piana chamath?"

00:46:54.640 | $200.

00:46:55.040 | No, this is a sweater that I got from the team at Louis Vuitton because they asked me

00:46:59.920 | to wear it.

00:47:00.800 | I don't know.

00:47:01.120 | It's probably a couple thousand bucks.

00:47:02.640 | OK.

00:47:02.960 | Here's a question from Aditya, $50.

00:47:05.360 | "At the level of money and power you all have as a group, how do you think about your

00:47:11.200 | legacies, if at all?"

00:47:12.320 | I don't.

00:47:17.920 | And I think that that is a really, really terrible way to live your life.

00:47:22.080 | There have been in humanity about 100 billion people that have ever lived.

00:47:29.040 | And if you took a sampling of a random thousand people and said, "Who do you remember from

00:47:36.800 | history?"

00:47:37.280 | the overlap of the same five or 10 people would be almost universal, which is to say

00:47:43.200 | that 100 billion minus five people are not going to be remembered.

00:47:47.920 | And so this goal of trying to be remembered, I'm not sure accomplishes much.

00:47:52.960 | I think what's important is just to make sure that you don't have a lot of regrets and that

00:47:58.800 | when you have the chance to try something fun or try something memorable or challenging

00:48:04.320 | because you thought you would get something out of it, you did it, as opposed to, "How

00:48:08.960 | will people judge me for this and how will I be written?"

00:48:11.280 | I just think it's a legacy.

00:48:13.360 | Forget it, man.

00:48:15.440 | Your great grandkids won't know you.

00:48:17.760 | There's a decent chance your grandkids may not even know you.

00:48:22.400 | You got to live to be happy today.

00:48:26.720 | That's my personal view.

00:48:28.640 | I just think this whole legacy thing is nuts.

00:48:30.400 | All right.

00:48:31.440 | 8,000 people are watching live.

00:48:32.960 | 2,800, thumbs up.

00:48:34.080 | Give us a thumbs up right now.

00:48:35.520 | Let's get those thumbs ups to 4,000 and let's break the algorithm.

00:48:40.560 | Freebird, are you thinking about your legacy much these days?

00:48:42.640 | No.

00:48:44.560 | Sax, any thoughts on legacy?

00:48:47.760 | No.

00:48:48.880 | I mean, honestly, it's not...

00:48:49.920 | I agree with Jamath.

00:48:51.920 | It seems like it's not something you should be preoccupied with too much.

00:48:55.760 | Yeah.

00:48:57.280 | I mean, look, you want your kids to be happy.

00:48:59.280 | You want to have success in business.

00:49:00.880 | There it is.

00:49:04.640 | And then it's done.

00:49:05.360 | You're done and then you die.

00:49:07.200 | So legacy, who cares about legacy?

00:49:11.600 | What does that mean?

00:49:12.640 | Other people's judgment of you, like some article or book or your Wikipedia link?

00:49:17.200 | Who cares?

00:49:17.920 | Yeah.

00:49:19.040 | I mean, I get it as a young person.

00:49:21.120 | Maybe you'd think you might project into older people.

00:49:24.160 | Like they're thinking about their legacy.

00:49:25.920 | I think about having great experiences and optimizing great experiences with my family,

00:49:31.840 | my friends, and then business partners who I kind of optimize for family and friends.

00:49:36.960 | And I had two great experiences this past week.

00:49:39.600 | I went to Disney on Saturday with our friend Jason Chang and went to Club 33,

00:49:47.760 | which was like a wonderful, fun experience to go in that private club.

00:49:50.960 | And then I pinched myself because I could afford to have a VIP tour guide.

00:49:55.200 | I don't know if you've ever done that, guys,

00:49:56.640 | where you just get taken around the park and you jump on the rides.

00:50:01.280 | And man, that was a lifetime experience.

00:50:03.200 | I've been to Disney once.

00:50:05.280 | I stayed at the California Lodge.

00:50:07.360 | Nice.

00:50:07.840 | I think it must have been what hell looks like.

00:50:11.520 | And I've never been back since.

00:50:13.200 | Did you have the VIP tour or not?

00:50:14.960 | Sure.

00:50:15.200 | I had everything.

00:50:16.080 | And I thought it was just the most horrendous, horrible experience ever.

00:50:19.040 | My kids loved it.

00:50:20.320 | We did so many rides and it's so much fun.

00:50:22.080 | But maybe they're of the age.

00:50:24.000 | All right.

00:50:25.360 | Another question from our amazing audience, your donations.

00:50:28.240 | Anybody who donates here is going to have their donation given to charity.

00:50:33.040 | $50 from Tommy Gufano.

00:50:35.040 | Oh, Tom, Big Tommy?

00:50:37.680 | Yeah, Big Tom.

00:50:38.720 | Do you see an opportunity for the intersection of blockchains and AI?

00:50:43.920 | I also want a pre-order for Tequila, please.

00:50:46.000 | Smiley face.

00:50:46.560 | Crypto is a disaster.

00:50:48.560 | Next question.

00:50:49.200 | I think that if you take...

00:50:52.720 | Forget the currencies for a second, but what is a blockchain?

00:50:59.840 | It's an incredibly accurate, highly distributed state machine.

00:51:03.600 | That could be valuable if you wanted to do highly distributed inference.

00:51:10.240 | So if these AI applications get to scale, I think one of the most important problems

00:51:14.720 | is around business risk and continuity.

00:51:18.400 | Because if all those models run on AWS and somehow you can take down AWS,

00:51:22.320 | now all of a sudden your app isn't available.

00:51:24.160 | That's a problem for companies.

00:51:27.360 | It's also a problem for countries that may want to use these clouds.

00:51:30.480 | So then all of a sudden you say, "Well, I need to have it distributed."

00:51:34.160 | Well, then if you can only distribute it across three hyperscalers,

00:51:37.200 | that's not really a lot of risk management.

00:51:39.200 | So then you go to a place which is like it needs to be highly distributed.

00:51:42.640 | But if you run inference in a highly distributed compute environment,

00:51:45.920 | then all of a sudden you need to have an extremely accurate state machine

00:51:50.080 | that can then thread all these things back together.

00:51:52.320 | So that's the intersection of AI and crypto.

00:51:54.480 | That's probably the most logical,

00:51:56.160 | but there hasn't been any real attempts to figure that out yet.

00:51:58.640 | But if there was such a project that did that,

00:52:02.240 | now then it creates a bunch of other issues around like NVIDIA lock-in and stuff,

00:52:07.520 | which you also can't support.

00:52:08.720 | You'd need to be able to extract it so it could run on CPUs in a really powerful way

00:52:12.000 | or other custom silicon.

00:52:14.000 | But that would be my answer to that.

00:52:16.240 | Well, one of the problems that crypto solves with respect to AI

00:52:20.880 | is helping you know what's authentic or real versus what's fake.

00:52:26.320 | Because with AI, you're not going to know what's real anymore.

00:52:29.920 | I mean, AI can create a perfect forgery of everything,

00:52:33.840 | or we'll soon be at that point.

00:52:35.120 | So crypto will be helpful in that regard.

00:52:37.440 | I think crypto will be the way that AIs pay each other.

00:52:40.880 | Clearly, they're going to pay each other in some sort of analog way.

00:52:43.280 | Balaji has some really interesting thoughts about this.

00:52:46.240 | I'd refer you to some of his tweets about it.

00:52:49.680 | Yeah, I'm just hoping we see a great regulatory environment

00:52:54.160 | for these crypto projects in the coming years.

00:52:57.920 | That might be one of Trump's most brilliant maneuvers

00:53:01.600 | in this past election cycle is to pick up the mantle of regulation.

00:53:05.600 | My gosh, Nick, how many bottles of tequila have we just pre-sold here?

00:53:08.720 | This is incredible.

00:53:09.840 | Quite a few.

00:53:10.400 | Well, what's the demand?

00:53:12.720 | How many do people want?

00:53:13.920 | There's like tens of bottles.

00:53:15.200 | You've sold tens of bottles.

00:53:16.320 | You've sold almost two dozen.

00:53:19.200 | Well, I mean, I'm sorry to tell people this, but it's going to be very limited.

00:53:22.560 | I think we're only going to produce about 1,000 cases, which is 6,000 bottles.

00:53:26.080 | 8,000 tops, I would say, because there's only so much

00:53:30.000 | five-year-old juice that we can get for the drink, because normally tequila aren't aged.

00:53:38.480 | Well, these folks are taking the time to show up, and they're donating.

00:53:42.800 | But we're going to get first shot attendees at the Olin Summit.

00:53:46.640 | So we're going to unveil it.

00:53:47.440 | And the people that just donated $100.

00:53:48.880 | And the people who just donated $50 or more, I guess.

00:53:51.200 | All right.

00:53:52.240 | Give us another question, Nick.

00:53:53.360 | Let's keep this train moving here.

00:53:54.560 | We've got time for maybe two more questions here.

00:53:56.400 | Okay.

00:53:56.640 | This question is from-

00:53:57.120 | Two more questions on the live stream.

00:53:58.880 | Do I pay on chowdery?

00:54:01.440 | What is one book you would recommend that transformed how you think $100?

00:54:05.280 | I'm going to search for meaning, Victor Frank.

00:54:10.880 | Liars, Poker, Michael Lewis.

00:54:16.160 | "Transformed how I think."

00:54:20.480 | That's a tough one.

00:54:21.280 | I don't know.

00:54:24.960 | I may have to come back on that one.

00:54:26.720 | Somebody in the chat mentioned Ayn Rand.

00:54:30.640 | I did like Atlas Shrugged, but I don't know if it transformed my thinking.

00:54:35.680 | The concept's a bad writer.

00:54:36.240 | Good concepts, but not a great writer.

00:54:38.640 | The prose is so brutal.

00:54:40.000 | The prose is brutal.

00:54:41.280 | I totally agree with you.

00:54:44.080 | I mean, make it a short story.

00:54:46.160 | Freeberg, you got a book that transformed your life?

00:54:48.560 | I put it in the Summit gift bag, I think, last year.

00:54:53.760 | Zen Mind, Beginner's Mind by Suzuki, which is basically a compilation of the Dharma lectures

00:55:00.720 | by the founder of the SF Zen Buddhism Institute.

00:55:03.600 | All the lectures are all about sitting Zen, like Buddhist meditation, sitting Zen meditation,

00:55:12.080 | but the thinking is so broadly applicable around how the human brain has a tendency

00:55:18.400 | to always seek things, this continuing drive of desire.

00:55:22.640 | And if you can let go of that drive of desire, much of your perception of reality changes.

00:55:27.360 | And the second is dualistic thinking, where you think about everything as one or the other.

00:55:31.280 | Everything in the universe, everything that we think about is in or out, this or good or bad.

00:55:37.280 | And I think, for me, changing one's point of view on those two aspects of how the human

00:55:44.000 | brain kind of natively associates the universe within which we live can have a huge impact

00:55:50.720 | in decisions and emotion and so on in life.

00:55:54.560 | So it's a very important book for me.

00:55:56.960 | And you can read it a million times and always get something new out of it.

00:56:00.160 | It's just a copy of his lectures.

00:56:02.800 | All right.

00:56:03.760 | Give us another question, Nick.

00:56:05.040 | We have a new high donation.

00:56:06.560 | Rapid fire.

00:56:07.360 | Oh.

00:56:07.600 | Mark Hossler, $200.

00:56:08.800 | Oh, okay.

00:56:10.080 | On Rogan's podcast, Neil deGrasse Tyson made predictions for 2050.

00:56:14.000 | Examples, the human space program will fully transition to a space industry

00:56:17.280 | supported not by tax dollars, but by tourism.

00:56:19.840 | We develop a perfect antiviral serum and cure cancer.

00:56:22.320 | Do you have any predictions for 2050 plus tequila?

00:56:25.360 | Donations for 2050?

00:56:28.560 | Well, we'll definitely have-

00:56:30.240 | Predictions for 2050.

00:56:31.760 | Yeah.

00:56:32.160 | Artificial superintelligence will be here long before that.

00:56:34.960 | And then the problems and the questions it answers are going to be mind-blowing.

00:56:40.800 | We might figure out the origins of the universe by that time.

00:56:45.600 | We might figure out consciousness.

00:56:48.240 | I mean, there are questions that humans have a really hard time with.

00:56:51.200 | So I would say artificial superintelligence.

00:56:53.520 | Anybody else have a prediction for 2050?

00:56:58.640 | That's like a 25-year prediction window.

00:57:01.120 | Yeah.

00:57:05.680 | Nobody has any predictions?

00:57:08.080 | The guy just spent 200 bucks.

00:57:09.280 | Nobody could give him a prediction for 2050.

00:57:11.680 | There's a prediction.

00:57:12.560 | Your $200 would have been worth 18 million if you put it in the S&P.

00:57:17.840 | When you get out that far, you're basically just talking about science fiction, right?

00:57:21.760 | I mean-

00:57:22.160 | Well, I mean, if we went back to 2000, Sax, if you said we'd have flying cars in 2000,

00:57:28.160 | you would be right.

00:57:29.520 | I mean, Archer and Joby are running sorties right now.

00:57:33.120 | Yeah, but that's not what people meant when they said that.

00:57:35.120 | There's like prototypes, but this hasn't transformed society.

00:57:41.360 | They said we'd have self-driving cars and Waymo just opened up.

00:57:44.880 | We should have companion robots by 2050.

00:57:47.120 | Well, say Marchmont.

00:57:48.880 | Like a robot that works around the house that does kind of the 80% of the human toil.

00:57:54.320 | I actually think that that could be really-

00:57:56.720 | Like the Hawk 2A robot?

00:57:58.160 | You think we'll have a Hawk 2A robot?

00:58:00.720 | No, I mean more like the-

00:58:01.280 | The Hawk 2A 2000?

00:58:02.480 | The Hawk 2A 2000.

00:58:04.800 | I mean more like it does the gardening, it does the dishes, it does the vacuum cleaning.

00:58:10.320 | It does the Hawk 2A.

00:58:11.360 | It does the Hawk 2A.

00:58:13.440 | That's like a really-

00:58:13.840 | Freedberg just ran.

00:58:14.800 | Freedberg ran for it.

00:58:16.320 | He can't even be on air for this.

00:58:17.600 | That's a huge unlock for humans.

00:58:21.440 | My dogs want it to go out.

00:58:25.440 | There are two key technologies that I think are long range that I've talked a lot about.

00:58:29.440 | We had a conversation last year on the summit about fusion, fusion-generated power, which

00:58:36.480 | that's kind of a timeframe where we should be kind of, if it works right at production scale,

00:58:43.200 | seeing production steady state output.

00:58:44.720 | And the other one is aging reversal, which there's a tremendous amount of research.

00:58:50.240 | And we will be talking about at the All In Summit this year.

00:58:52.480 | We're going to have an amazing conversation about the research that's gone on in reversing

00:58:56.720 | aging, which I think we've talked about in the past is fundamentally driven.

00:58:59.840 | It looks like from epigenetic errors in cells, so not DNA errors like was originally theorized,

00:59:06.240 | but like the molecules that sit on top of the DNA that turn genes on and off in a cell.

00:59:11.600 | And when that becomes unbalanced, the cells start to dysfunction, organs dysfunction.

00:59:15.680 | And that is the fundamental driver of aging.

00:59:17.920 | And there's now a set of systems and molecules that we can apply to cells to reverse that and

00:59:22.080 | actually reset the molecules that sit on the DNA.

00:59:24.880 | So these cells start to become young again.

00:59:26.480 | And there are many billions of dollars that have gone into this research.

00:59:31.520 | And what I've heard in non-public discussions is that this is like looking like it could

00:59:37.520 | be very real.

00:59:38.400 | That would be really amazing.

00:59:39.520 | So I imagine taking a fap fap to the e-drug.

00:59:43.040 | Yeah, that's in our window.

00:59:44.080 | One of the things that I'll also just say on this is like, I think that there's this

00:59:48.400 | intersection between AI and biology that unlocks like a really like incredible paradigm for

00:59:55.440 | how humans can create things and make things on earth where you could say, I want a molecule

01:00:02.320 | or protein that will go in and find this specific cancer cell for me.

01:00:07.680 | And then you can actually render that protein, apply it to a patient, and it can immediately

01:00:12.720 | wipe out that particular target where the AI resolves to the molecule that's needed

01:00:17.360 | or the genetic structure that's needed to make, let's say, a plant that can grow on

01:00:20.880 | Mars.

01:00:21.520 | I want to make a plant that can grow on Mars.

01:00:23.120 | The AI renders the genome of that plant.

01:00:26.000 | You produce it, you ship it to Mars, and you start growing plants in the really weird

01:00:29.440 | environment on Mars' surface.

01:00:31.040 | So I think that by 2050, we have these kind of intersections that enable some of that

01:00:35.520 | stuff that could be really powerful.

01:00:37.200 | Hey, give us that McHale question if you can.

01:00:40.960 | That came in for a Hyundai.

01:00:41.920 | That's a good one.

01:00:42.480 | I don't see it.

01:00:46.080 | I just had a $200 question for you, though.

01:00:47.600 | Oh, give us a $200 question.

01:00:48.880 | McHale.

01:00:51.280 | Why are we getting paid money?

01:00:52.320 | I don't know.

01:00:52.560 | How does this get turned on?

01:00:53.680 | It's just like a feature of YouTube?

01:00:56.800 | Yeah, you can do two things in YouTube.

01:00:58.480 | You can do a super chat where you give money, and your chat gets highlighted in the top

01:01:03.680 | of the chat.

01:01:04.720 | And then there's memberships.

01:01:06.560 | So we could, for the next one, turn on memberships, and people will pay $1 a month, $10 a month

01:01:10.640 | to be a member.

01:01:11.280 | It's kind of fun.

01:01:12.000 | It gives you extra features.

01:01:13.360 | All right, I got McHale's.

01:01:15.280 | Oh, OK, good.

01:01:16.080 | $100 from McHale.

01:01:17.760 | I am reading the comments.

01:01:18.720 | That's why I'm laughing.

01:01:19.520 | What are some of the ethical dilemmas that you faced in your careers, and how have you

01:01:24.160 | overcome them?

01:01:24.880 | What about some ethical dilemmas you've seen from the startups you've invested in?

01:01:28.880 | Yeah, I've had maybe two of these situations happen where people were, let's say, I'll

01:01:37.840 | just make this a composite, but over 400 investments we've done.

01:01:42.080 | We had maybe two instances where people were doing things that would be illegal, and we

01:01:50.800 | had to, in both cases, I had to sit with the founders and said, listen, I can't be on the

01:01:57.040 | board of this company if you're going to do this kind of things.

01:01:58.960 | And in both cases, I gave them the option to return our money at par, last valuation.

01:02:03.840 | And yeah, I resigned from the board and took our money back.

01:02:08.160 | So it does happen sometimes.

01:02:10.240 | You got to be very careful because somebody does something where they're not upfront or

01:02:17.200 | completely honest, and they sell shares in a company.

01:02:19.840 | It's called securities fraud.

01:02:21.040 | You got to be really vigilant, especially if you found out about it and you're on the

01:02:24.160 | board.

01:02:24.660 | Somebody asked whether Chamath Hawke-- how do you pronounce this?

01:02:30.880 | You say Hawke Tua.

01:02:33.120 | I think it's Tua.

01:02:34.400 | Hawke Tua, your wine.

01:02:36.640 | Chamath has Hawke Tua'd some of my wine right on the damn floor.

01:02:40.320 | He did Hawke Tua it on the floor.

01:02:42.560 | I saw it.

01:02:43.040 | If he doesn't think the wine that's been served is good enough, he'll just dump it on the

01:02:47.200 | floor.

01:02:48.080 | He took the glass and he poured it out on the floor.

01:02:50.640 | It was a nice aged burgundy, too, if I remember.

01:02:54.400 | He Hawke Tua'd it all over a marble floor.

01:02:57.760 | It was, I mean, it was the height of--

01:03:01.200 | Chamath's not drinking this shit.

01:03:02.240 | Wow.

01:03:03.540 | There's actually a question about wine, Chamath, if you want to answer it.

01:03:07.040 | Oh, here we go.

01:03:08.000 | John Knab asked, and this was a pre-submitted one, "I'd like to know what Old World and

01:03:12.320 | New World wines are each of the besties favorites?"

01:03:14.720 | And then someone else asked--

01:03:15.760 | Great question.

01:03:16.800 | --how do you know what a good glass of wine is or something like that?

01:03:20.960 | Well, I really think it comes down to your own personal taste.

01:03:24.160 | I'll give you a perfect example of this.

01:03:25.760 | Merlot gets shat upon a lot by fake intellectuals, but it creates some of the best wines possible.

01:03:34.480 | As an example, if you were to go into the Old World, there's something you've probably

01:03:39.600 | heard of called Chateau Petrus.

01:03:41.200 | Those are like $5,000 to $50,000 a bottle.

01:03:44.800 | But if you go to Italian old-growth Merlot, like Masetto, that's probably $1,000 to $3,000.

01:03:52.960 | So enormously, just an order of magnitude cheaper.

01:03:56.480 | It is incredible and pound-for-pound better than Petrus.

01:04:00.000 | And if you put it against it in a blind tasting, you would prefer the Masetto over the Petrus.

01:04:05.520 | So what does that mean?

01:04:07.280 | I think it means that there is a lot of people that just want to demonstrate they can spend

01:04:10.480 | money, and that's dumb, because I think there's just a lot of incredible wine that's much

01:04:14.800 | cheaper than that.

01:04:15.440 | Then if you go all the way down to like, for example, last summer, I gave these guys some

01:04:20.560 | of this, but the most incredible white burgundy I have found is Charles Boussaint, 80 euros

01:04:26.960 | a bottle, absolutely incredible.

01:04:29.520 | And it'll run circles around PYCM.

01:04:32.160 | It's running circles around Cocherie, which are thousands of dollars.

01:04:35.600 | So you've got to try a lot, and you've got to go with what tastes good, and who cares

01:04:41.120 | what anybody thinks.

01:04:42.320 | By the way, I will pre-reveal this, but I think I told you guys this, but Joshua and

01:04:46.560 | I, so my sommelier and I, we just filed for a liquor license.

01:04:49.600 | And so when we get it, we will be allowed to buy wine wholesale.

01:04:55.760 | So we are becoming, because honestly, the wine is so marked up, and we were like, well,

01:05:02.800 | if we have our own liquor license, and we have our own storefront, so we got a storefront,

01:05:06.320 | we're going to be able to buy and import wine at wholesale prices.

01:05:10.080 | What's your favorite five to $10 bottle, Chema?

01:05:13.520 | Like when you go to Trader Joe's, what do you really like to explore?

01:05:16.800 | I don't go to Trader Joe's, it's off-brand.

01:05:18.640 | I will never go there.

01:05:19.440 | No, but you have a, you already gave an 80 euro bottle, so it's a $100 bottle.

01:05:24.880 | $80, $80 bottle.

01:05:26.240 | If you can find a Charles Busson white burgundy, it's incredible.

01:05:29.840 | Pallmeyer is a couple of hundred bucks, consistently excellent.

01:05:32.720 | In the new world, if you want to spend sort of between that five to 700, Colgan, Sloan,

01:05:40.400 | Bond, all these are great.

01:05:42.080 | A hundred acres.

01:05:42.960 | A hundred acres.

01:05:43.600 | A hundred acres is probably my favorite Napa wine, and it's not the most expensive.

01:05:47.280 | I mean, it's expensive to be sure, but it's not in the Harlan category or Screaming Eagle.

01:05:51.440 | Harlan's like a thousand bucks a bottle.

01:05:52.800 | Harlan's a thousand.

01:05:53.440 | And Screaming Eagle's like two or three thousand.

01:05:56.080 | A hundred acres is like 500 bucks, and I think it's the best Napa wine.

01:05:59.520 | And I like Colgan too, and I like Schrader as well.

01:06:02.640 | Schrader's excellent.

01:06:03.120 | There's a guy named Sean Thackeray, who is a kind of, he passed away two years ago, I think.

01:06:12.480 | Yeah, two years ago.

01:06:13.920 | He made all these crazy California wines, but he had this theory that it wasn't just about

01:06:20.560 | representing the varietal or representing the particular plot, but he really wanted

01:06:26.560 | to create a story and an essence from the wine.

01:06:28.240 | So every year he had a name for the wine.

01:06:30.720 | He created a custom label, and he would go out and he would source grapes, and he would

01:06:34.080 | test all the grapes at different vineyards, and he would do like a multivariety wine that

01:06:39.280 | he never kind of disclosed what was in it.

01:06:41.520 | And then he threw out all of the conventional French wisdom on how do you make good wine,

01:06:46.480 | and he went back to all of these Franciscan monks books, and he translated them from

01:06:50.480 | Latin on how do you make amazing wine, where you like leave the grapes out and let them

01:06:55.120 | breathe for a night and live under the moon after you harvest them.

01:06:59.040 | The Franciscans have crushed two things.

01:07:01.440 | One is champagne, and if you have a chance to buy an incredibly good bottle of single

01:07:07.440 | grape Chardonnay champagne, I encourage you all to do it.

01:07:11.120 | Don't buy the blends, but if you can get a bottle of Salon or get a bottle of Paul Roger,

01:07:18.400 | these things are unbelievable, and the Franciscans used to make it.

01:07:22.720 | They're incredible.

01:07:23.520 | The methods are different, because in the French model, it's like you crush as soon

01:07:26.480 | as you harvest, and like a lot of the guys you mentioned earlier, they'll harvest at

01:07:30.240 | three in the morning so that the berries are still cool when they start to crush.

01:07:33.440 | But Thackeray and the Franciscans, they'll like let the grapes start to ferment naturally

01:07:36.880 | out in the sun in the open before they even do the crush.

01:07:38.720 | The Italians do the same thing.

01:07:39.920 | Also, that's how Amarone is made.

01:07:41.600 | So anyway, check out Sean Thackeray.

01:07:43.360 | His label is called Pleiades, and he's got like an amazing kind of...

01:07:46.560 | Every year is different.

01:07:47.360 | Every vintage is different.

01:07:49.040 | It's really incredible.

01:07:49.840 | But he's gone now, so all this stuff you got to buy.

01:07:52.800 | Okay.

01:07:54.320 | Well, I'll second just on the cheaper, say under $100 bottles of wine, I'll second Jamal's

01:08:00.320 | recommendation on white burgundies.

01:08:02.160 | These are white wines that come from the burgundy region.

01:08:06.000 | If you drink Napa whites, they have a lot of sugar in them, so they either taste like

01:08:12.880 | honey or sometimes butterscotch.

01:08:14.640 | Those are the two dominant flavors.

01:08:16.640 | When you start drinking white burgundies, they're just much more complex.

01:08:20.880 | They have a lot of minerality from that region.

01:08:24.400 | Great nose.

01:08:25.600 | Yeah, they're less sweet.

01:08:26.800 | They're more floral sometimes and just very crisp and refreshing, especially for the summer.

01:08:32.640 | That's a really nice bottle of wine to drink on a hot summer day.

01:08:36.080 | All right.

01:08:36.480 | That's what we need.

01:08:37.360 | Let's do this next live chat when we're outdoors and we could have some just nice chilled wine.

01:08:44.720 | This has been an amazing hour plus with the besties for hitting 500,000 subs.

01:08:49.600 | We're now at 528,000 subs.

01:08:51.520 | 8,000 of you live, thousands of thumbs up, thousands of dollars in donations to charity.

01:08:57.680 | We'll pick a charity.

01:08:58.480 | I think that's going to be the J-Cal PC24 Pilatus Fund.

01:09:02.480 | We will see you all when we hit...

01:09:06.560 | When are we going to do the next one of these?

01:09:07.760 | 750, 600,000?

01:09:09.440 | We're going to do a million subscriber party in Vegas.

01:09:12.400 | That's the party in...

01:09:14.400 | We're going to do a million subscriber party in Vegas.

01:09:18.800 | But between then and now, maybe we'll announce another one of these.

01:09:21.520 | Maybe every 100,000 or 200,000 subs, we'll do this again.

01:09:25.360 | Yeah, 750 makes sense, I think, right?

01:09:27.040 | Maybe do a 750.

01:09:28.080 | Yeah, when we hit 750, we'll do this again.

01:09:29.920 | Thank you.

01:09:30.160 | Yeah, there's a recommendation.

01:09:31.280 | Next time we should drink while we do it.

01:09:32.800 | Yeah.

01:09:33.280 | There you go.

01:09:34.160 | It could get really interesting.

01:09:35.440 | All right, everybody.

01:09:36.160 | For your chairman, dictator, Chamath Palihapitiya.

01:09:40.080 | Go get his sub stack.

01:09:41.200 | Really good.

01:09:42.480 | Check out Glue from your boy, David Sachs.

01:09:45.600 | And these giant potatoes that Dave's making.

01:09:49.760 | You get your hiring over at O'Halo?

01:09:51.360 | You need somebody?

01:09:53.680 | Any open positions?

01:09:54.720 | Selectively.

01:09:55.680 | Very selectively.

01:09:56.320 | What are you looking for?

01:09:56.880 | What's the most hardcore position?

01:09:59.280 | I have a chief commercial officer role that I'm spending a lot of time on right now.

01:10:02.880 | Chief commercial officer?

01:10:04.240 | Is that like a chief revenue officer?

01:10:05.520 | Is that different?

01:10:06.080 | Yeah.

01:10:06.960 | It's the same thing?

01:10:08.720 | Yeah.

01:10:09.680 | And it's the same thing.

01:10:10.480 | Why don't you make like a cantaloupe size russet potato for steakhouses?

01:10:14.960 | I think people would go wild for that, you know?

01:10:16.800 | Yeah.

01:10:17.200 | Watermelon size, giant.

01:10:18.480 | Watermelon size, yeah.

01:10:18.880 | Put it in the middle of the table, slice it open.

01:10:20.320 | And it could come loaded.

01:10:21.120 | No, but how do you-

01:10:22.160 | Loaded potato.

01:10:23.360 | How do you cook it evenly?

01:10:24.640 | That's the hard part.

01:10:25.600 | When it's too big, it's hard to cook.

01:10:26.720 | You could also make French fries that are the size of like a lightsaber.

01:10:29.760 | Why don't you do that?

01:10:30.480 | The challenge of the potato-

01:10:32.560 | I would buy lightsaber size French fries.

01:10:35.520 | That would be amazing.

01:10:36.080 | Double with the duck fat?

01:10:37.200 | You cook them in duck fat.

01:10:38.240 | Can you make us duck fat French fries, Dave?

01:10:40.400 | Oh my God, that would be incredible.

01:10:42.320 | Can you make us-

01:10:45.280 | Put it on a spit.

01:10:46.320 | Yeah, absolutely.

01:10:46.880 | Is our audience still there or have they left?

01:10:48.800 | They're still here.

01:10:49.520 | They're still here.

01:10:50.160 | They're winding down because we're winding down.

01:10:51.680 | They are winding down, but it's still 6,700 people in the live.

01:10:55.920 | Don't you guys have anything better to do?

01:10:58.000 | I got to go.

01:10:58.560 | Not you, the audience.

01:11:00.640 | And we'll see you all-

01:11:04.320 | Nick, make sure, do you have everybody?

01:11:06.080 | Yes, I have their information.

01:11:07.360 | I got it.

01:11:07.600 | You have everybody's information?

01:11:08.560 | And if not, just email nick@theallimpod.com.

01:11:11.360 | And if you, yeah, because we'll just make sure that you get on the list.

01:11:15.280 | I got it.

01:11:16.000 | Thanks everybody for your support.

01:11:17.120 | We love you.

01:11:18.000 | Thank you.

01:11:18.500 | - Thanks for tuning in.

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