All-In with Chamath, Jason, Sacks & Friedberg cover image

All-In with Chamath, Jason, Sacks & Friedberg

E118: AI FOMO frenzy, macro update, Fox vs Dominion, US vs China & more with Brad Gerstner

Mar 3, 2023

01:56:25

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Brad Gerstner discusses the VC FOMO frenzy in AI, macro update, Fox News lawsuit, US-China competition, and more. Topics also include Marc Benioff's stock-based compensation boom, Ukraine peace proposal, Harvard legacy admissions, and Draymond Green on Black History Month.

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Quick takeaways

CEOs are focusing on operational excellence and profitability by scrutinizing investments, cutting costs, and building shareholder relationships.

Concerns arise regarding the macroeconomic landscape due to rising interest rates and inflation, prompting caution among investors.

Tech CEOs are inspired by leaders like Elon Musk to drive efficiency and innovation within their organizations, shedding fears of negative public perception.

Harvard's admissions process raises concerns about fairness, with 43% of white students benefiting from advantages like legacy admissions or familial connections.

Deep dives

Increased focus on operational excellence and profitability at Salesforce

Salesforce CEO, Marc Benioff, announced a renewed emphasis on driving operational excellence and profitability within the company. He mentioned scrutinizing every dollar of investment, focusing on cost-cutting measures, employee productivity, and building shareholder relationships. Salesforce also reported its Q4 earnings with a small net loss, but the company bought back $2.3 billion worth of its stock and plans to increase its share buyback program to $20 billion.

Which Kind of Companies Will Be The Big Winners in AI?

The Pros and Cons of Stock as an Early Stage Compensation Strategy

CEOs in Silicon Valley Have Unleashed Their Inner-Elon

Venture Investing - 6.5% for a Three Month T-Bill

1.

Introduction

2min

2.

Experiences in Japan and Tokyo

4min

3.

AI FOMO Frenzy and the Generative AI Space

3min

4.

Investing in Big Language Models

17min

5.

Returns and Risks of Private Market Investing

4min

6.

Companies Struggling: Sequoia and Instacart

8min

7.

Abandonment vs. Trade: Private and Public Markets

15min

8.

CEO Agency and the Power of Founder CEOs

11min

9.

Stock-based Compensation in Silicon Valley

10min

10.

Media Elites and the Spread of False Claims on Fox News

9min

11.

TikTok Ban Debate and US-China Relationship

13min

12.

Geopolitical Strategies and the Ukrainian Conflict

13min

13.

Debate on Legacy Admissions and Harvard Students

2min

14.

The Debate over Black History Month

2min

15.

Correction and Implications of Stripe Chart Analysis

2min

16.

Dinner in New York and a Debate on a War Resolution

5min

(0:00) Bestie intros!

(6:47) The VC FOMO frenzy in AI

(25:22) Current LP mindset, VCs leaving boards, startup cram downs and mark downs

(37:23) Macro update: inflation not done, weaker earnings, interest rates

(52:01) Marc Benioff channels his inner Elon Musk, the stock-based compensation boom

(1:11:59) Fox News facing defamation lawsuit over false election fraud claims, TikTok ban heats up, competition with China

(1:34:33) Ukraine update: China's peace proposal, US strategy

(1:46:34) Harvard legacy admissions, Draymond Green on Black History Month

(1:50:01) Stripe chart errata, bestie wrap!

Follow the besties:

https://twitter.com/chamath

https://linktr.ee/calacanis

https://twitter.com/DavidSacks

https://twitter.com/friedberg

https://twitter.com/altcap

Follow the pod:

https://twitter.com/theallinpod

https://linktr.ee/allinpodcast

Intro Music Credit:

https://rb.gy/tppkzl

https://twitter.com/yung_spielburg

Intro Video Credit:

https://twitter.com/TheZachEffect

Referenced in the show:

https://www.wsj.com/articles/why-i-stood-up-to-disney-florida-woke-corporatism-seaworld-universal-esg-parents-choice-education-defa2506

https://www.thedailybeast.com/bill-maher-shares-definition-of-woke-during-jake-tapper-cnn-interview

https://www.economist.com/business/2023/02/28/investors-are-going-nuts-for-chatgpt-ish-artificial-intelligence

https://podcasts.apple.com/ca/podcast/doug-leone-lessons-from-a-titan/id1154105909?i=1000602027979

https://openai.com/blog/introducing-chatgpt-and-whisper-apis

https://twitter.com/heykahn/status/1628453782177865728

https://www.ft.com/content/21420ce2-92a1-43a0-a153-04ac7c872466

https://www.wsj.com/articles/instacart-sees-revenue-profit-boost-ahead-of-public-listing-1d7891d

https://cdn.statcdn.com/Infographic/images/normal/21023.jpeg

https://www.barrons.com/articles/home-prices-dropping-redfin-fac43ede

https://www.google.com/finance/quote/CRM:NYSE

https://s23.q4cdn.com/574569502/files/doc_financials/2023/q4/CRM-Q4-FY23-Earnings-Press-Release-w-financials.pdf

https://seekingalpha.com/article/4583622-salesforce-inc-crm-q4-2023-earnings-call-transcript

https://twitter.com/altcap/status/1631361678582611970

https://www.investopedia.com/articles/06/fas123r.asp

https://www.wsj.com/articles/in-deposition-rupert-murdoch-says-fox-news-hosts-endorsed-false-2020-election-claims-c9348fc0

https://www.reuters.com/technology/tiktok-develop-parental-control-tool-block-certain-videos-2023-03-01

https://www.reuters.com/technology/white-house-gives-agencies-30-days-impose-federal-device-tiktok-ban-2023-02-27

https://www.wsj.com/articles/house-committee-lays-out-case-for-china-threat-ad62c611

https://www.euronews.com/2023/02/27/chinas-peace-plan-russia-says-no-conditions-for-peaceful-solution-or-ukraine-for-now

https://www.wsj.com/articles/ukraine-war-depleting-u-s-ammunition-stockpiles-sparking-pentagon-concern-11661792188

https://twitter.com/wikileaks/status/1496886759665586177

https://twitter.com/deloreshandy/status/1629516350602264582

https://www.nber.org/system/files/working_papers/w26316/w26316.pdf

https://www.tmz.com/2023/03/01/draymond-green-calls-end-black-history-month-celebrate-all-year

https://www.bloomberg.com/news/newsletters/2023-03-02/how-former-fugee-pras-michel-got-involved-in-1mdb-scandal-big-take

https://www.newyorker.com/magazine/2023/03/06/how-the-biggest-fraud-in-german-history-unravelled

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