All-In with Chamath, Jason, Sacks & Friedberg IPOs and SPACs are Back, Mag 7 Showdown, Zuck on Tilt, Apple's Fumble, GENIUS Act passes Senate
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Jun 21, 2025 
Thomas Laffont, a Coatue investor and host of East Meets West, joins David Sacks, a prominent entrepreneur and political commentator, for a lively discussion. They dive into the resurgence of IPOs and SPACs, exploring what 2025 might hold. The duo debates AI front-runners in the Mag 7 and questions Apple's innovation strategy, suggesting it needs a serious overhaul. Additionally, they discuss the passing of the GENIUS Act, highlighting its implications for the evolving crypto landscape and regulatory clarity.
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Meta's Aggressive AI Strategy
- Mark Zuckerberg is spending aggressively on AI to avoid losing half of Meta's market cap.
- Buying Scale AI for talent and data is a strategic move to catch up in AI development.
Facebook's HTML5 Mistake
- Chamath recalled the Facebook HTML5 wrapper debacle where native apps should have been the focus.
- Politics led to the wrong bet on HTML5, which was later admitted as a major mistake by Zuckerberg.
Decoding Meta's AI Acquisition
- Meta needs to acquire secrets around labeling, apps, and infrastructure to compete in AI.
- Buying Scale and recruiting top talent targets these secrets to improve Meta's AI model quality and usability.