All-In with Chamath, Jason, Sacks & Friedberg E126: Big Tech blow-out, Powell’s recession warning, lab-grown meat, RFK Jr shakes up race & more
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Apr 28, 2023 The latest discussion highlights Google's shaky growth phase and the challenges it faces within the tech sector. Lab-grown meat takes center stage, exploring its potential benefits and significant hurdles. There's an analysis of the job market's disconnect, along with a dive into AI's transformative impact on knowledge work. The political landscape is shifting as Robert F. Kennedy Jr. enters the presidential race, prompting questions about voter sentiment and U.S. policy. A lively debate unfolds over food ethics and environmental concerns surrounding meat production alternatives.
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Big Tech's Peak
- Big tech, like Google, Facebook, Microsoft, and Apple, may be past peak growth.
- Their valuations might rise due to cash flow, but core organic innovation has been lacking.
Tech Earnings vs. Economy
- Tech companies are showing strong earnings despite economic uncertainty, possibly due to cost-cutting and buybacks.
- This contrasts with the overall economic outlook, which seems to be heading towards a recession.
Combating Inflation
- Combat inflation by reducing money printing, cutting government spending, and addressing supply-side issues like energy costs.
- Focus on increasing productivity instead of suppressing demand through job and wage reduction.