All-In with Chamath, Jason, Sacks & Friedberg Does OpenAI Need a Bailout? Mamdani Wins, Socialism Rising, Filibuster Nuclear Option
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Nov 7, 2025 
Brad Gerstner, an investor, dives into the complex world of AI economics, highlighting OpenAI's spending concerns and revenue projections. He discusses the ramifications of recent comments from Sam Altman and the unsettling notion of a federal bailout. The conversation extends to the geopolitical AI landscape, with insights on China's advancements. On the political front, Gerstner tackles the rise of socialism in America, exemplified by Zohran Mamdani's victory, and how the GOP can reclaim the middle class through tangible policy reforms.
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$1.4T Is A Multi-Year Forecast
- Sam Altman's $1.4T compute figure is the sum of partner obligations and multi-year forecasts, not immediate cash needs.
- Brad and others say revenue growth (> $100B forecast) and deal flexibility can align spend with income.
Backstop Sounded Like Bailout — It Wasn’t
- OpenAI CFO's word 'backstop' sparked bailout fears but was later walked back as a poor choice of words.
- David Sacks argues the focus should be on permitting and infrastructure, not federal bailouts.
Accelerate Infrastructure With Regulatory Reform
- Make permitting and power build-out easier to speed AI infrastructure without federal balance-sheet risk.
- Allow behind-the-meter power generation and streamline approvals to avoid NIMBY backlash.