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E3: Modern Cold War between US & China, economic recovery, potential mass migration out of San Francisco, pandemic politicization & more with David Sacks & David Friedberg
All-In with Chamath, Jason, Sacks & Friedberg
What's the Incremental Dollar?
The real economy is in the toilet. The earnings power of real companies that do physical things in the world are cheaper and lower than they've ever been. Companies that traffic in bits, so soft for businesses, have a bid. And companies that traffic in atoms have gotten completely decimated, and they are literally worthless. So it's unfair to look 30 or forty businesses, and paint that as a v shaped recovery. It is a equity market that is buyed by said dollars that is not mapping to the reality on the ground.
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