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4min chapter
E121: Macro update, Fed hike, CRE debt bubble, Balaji's Bitcoin bet, TikTok's endgame & more
All-In with Chamath, Jason, Sacks & Friedberg
The Low Hanging Fruit of Private Credit
Shimov: Banks have become much better at risk management post Dodd-Frank. He says banks need to protect 100% of deposits and that if they want to have extracurricular activities, should be able to raise money from investors. Shimov: The incentives created by this crazy system we call banking create a weird incentive for them to gamble because they're so levered.
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