All-In Summit 2022 Recap
00:00:00.000 | We open sourced it to the fans and they've just gone crazy with one big huge or love you bet a queen of Kinwam
00:00:06.020 | I
00:00:10.520 | Cannot believe what Jake has pulled off here
00:00:14.680 | We are witnessing our first Theranos moment. I got great news. I took all the money I put in Luna
00:00:21.920 | From an undisclosed location. Mr. Elon Musk
00:00:27.280 | People actually fucking listen to us talking over Zoom. This is like way more work than I thought I was signing up for
00:00:32.700 | I
00:00:37.300 | Want to talk about a lot of stuff that's broken right now that we know how to fix but we aren't
00:00:41.880 | Bad customer service and health care the defense industry in America is fundamentally broken
00:00:47.240 | There's no doubt that it's a left-wing monoculture that's suppressing ideas and someone needs to fix that that these
00:00:52.920 | Prestige outlets like the New York Times have so much credibility in our culture
00:00:57.600 | They have the power to destroy people's careers what went wrong that this would happen
00:01:01.620 | Journalism has adjusted. We've gone from being
00:01:05.000 | people whose primary job is to be curious about why things happen to being
00:01:09.460 | Advocates a government shouldn't be running a hundred billion dollar surplus. It's not a for-profit organization. No
00:01:15.920 | That means something is wrong. The obvious reason for inflation is that the government printed more money than it had
00:01:23.100 | Because so many people just want a yes-or-no answer. They want to say this is the future this isn't they don't want to think
00:01:28.080 | About a distribution of outcomes, which is really the way the world works. Let me just start by saying that investing is really fucking hard
00:01:34.580 | [Applause]
00:01:36.580 | So we get to approach these problems but often the solution is east meets west
00:01:59.780 | For women to believe in themselves
00:02:02.060 | We make amazing founders people who are true
00:02:05.180 | Entrepreneurs and think at scale and think and think very very big
00:02:09.400 | We're very much into freedom here in Miami and we try to facilitate people's growth and success. That's it
00:02:15.340 | That's all we do. I think sometimes
00:02:17.340 | We have to think very deeply about
00:02:19.580 | The suffering people have had especially when it's different than the suffering that you and I have had
00:02:24.300 | Yeah, if you remember your physics velocity has a direction and sometimes going really really fast is actually negative velocity because you're going the wrong way
00:02:30.540 | I mean I get trashed by the media all the time. It's fine
00:02:33.180 | I don't care but it's indicative of the fact that even though I have like a lot of resources
00:02:37.580 | I do not actually have the ability to stop the media from trashing me and that's actually a good thing
00:02:42.220 | Well, you just broke the fucking internet with Elon. He was in a great mood. Yeah, I was
00:02:47.500 | He likes hanging with his besties like say when does prestige matter most?
00:02:51.980 | It's when someone you don't like saying something you don't like what drives the country forward
00:02:56.460 | This is what drives knowledge forward is people able to disagree. Russia isn't aggressive because it's surrounded by NATO
00:03:01.420 | It's surrounded by NATO because it's aggressive but to sacrifice Ukraine in pursuit of this broader geopolitical for him
00:03:06.980 | It was a game. It was his show and for me, of course, I'm a jerk. I'm not a coward
00:03:11.300 | You're gonna take me on straight up as a man. I appreciate it
00:03:14.560 | You just kind of have to say like fuck you and move on with your life
00:03:20.060 | If you're sitting on excess liquidity right now and want to invest for a long
00:03:26.780 | Was that a transition from war 3 -
00:03:29.740 | The best way to protect yourself against the downside is to enjoy every last bit of the upside and now we have inflation
00:03:38.300 | But we also have lots of business formation and we have a new ways of doing work
00:03:42.220 | The trends that existed for 20 years
00:03:47.540 | Still exist that inflation will roll over so I'm willing to underwrite to that
00:03:53.660 | There is going to be a big beautiful bull market in real stuff and it is just beginning
00:04:00.260 | Best entrepreneurs are incredible storytellers as a way of attracting the best talent and then as a way of attracting customers
00:04:08.900 | And I don't want to die without having used whatever influence I have to proselytize for ideas
00:04:19.340 | I believe it you need strong leadership companies are there to make products that people and organizations want to need not
00:04:26.240 | Necessarily to fight over political ideals the world's never gonna run out of new ideas for business software
00:04:31.740 | And there will always be an opportunity there for new companies
00:04:34.340 | But we cannot debate is how important it is that the United States win and that democracy wins and that freedom comes to all
00:04:42.100 | these countries
00:04:44.100 | You
00:04:46.100 | You
00:04:48.260 | Thank you
00:04:51.260 | You
00:04:53.260 | (audience applauds)