All-In with Chamath, Jason, Sacks & Friedberg E85: SBF's crypto bailout, Zendesk sells for ~$10B, buyout targets, US diplomacy, AlphaFold & more
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Jun 30, 2022 This discussion kicks off with a lively banter before delving into the intricate web of a potential crypto bailout and the market's current state. The sale of Zendesk for around $10 billion is scrutinized, linking tech valuations to stock-based compensation. Geopolitical tensions are addressed, particularly the Russia-Ukraine conflict's economic fallout. Finally, groundbreaking AlphaFold research opens the door to exciting advancements in gene therapy, blending science with a sprinkle of humor.
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Crypto's Easy Rewards
- Cryptocurrencies benefited from reduced friction due to technology advancements.
- This allowed easy creation, trading, and high rewards, even before product launches, unlike traditional startups.
Market Regime Change
- Zendesk's sale, despite strong financials, signals a market shift.
- Investors now prioritize cash flow and margins over growth at all costs, impacting founders' strategies.
Yammer vs. Zendesk
- David Sacks recounts Yammer and Zendesk's shared office space a decade ago.
- Both companies needed to expand, leading to a standoff over who would move first.