All-In with Chamath, Jason, Sacks & Friedberg E54: Spread trading big tech, capital allocation, Zillow's misfire, Progressives suffer losses
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Nov 6, 2021 Discover the world of big tech trading as market dynamics of companies like Google and Microsoft are unraveled. The discussion swings to Zillow’s ambitious yet flawed iBuying strategy and explores the role of decentralized autonomous organizations in capital allocation. Political shifts in recent elections cast a spotlight on voters' desires for moderation, while innovative climate solutions emerge from surprising new research. Unpack it all with humor and insightful analysis!
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Spread Trading Big Tech
- Spread trade by longing Microsoft and Google, and shorting other big tech companies.
- This mitigates market risk by betting on relative outperformance.
Google and Microsoft's Advantages
- Google is the safest bet due to its platform dominance and payment to Apple for search.
- Microsoft benefits from distribution advantages, enabling them to outcompete with feature parity.
Microsoft vs. Notion
- Microsoft's competitive edge is demonstrated in its attack on Notion, leveraging its bundling and distribution power.
- Similar to Slack, Notion's long-term success is threatened by Microsoft's market dominance.