The AI industry is creating a radical realization that many businesses reliant on services may be replaced by AI in the future. Industries that can quickly benefit from AI, such as chip demand, are experiencing higher valuations and multiples due to the current high discount rate. However, businesses such as services, law firms, and investment banks that are further down the line in leveraging AI face a longer timeframe for potential improvement, resulting in a higher discount rate being applied to their valuation. Different industries will be affected at varying time horizons, and investors consider these timelines to assess the potential improvement to earnings and determine stock value.
(0:00) Bestie intros: Chamath flies public + Poker recap
(8:12) FED pauses hikes momentarily, IPO window status, state of the market
(25:10) Film, cold plunge, and sauna talk
(33:25) AI's impact on tech and growth stocks surging, Google's position, AI's "$20T question"
(50:27) Jay Trading beating the market, how Brad formulates and sizes public bets, how GPs should handle distributions, CalPERS mistakes
(1:04:22) Reddit moderators in revolt and how this issue might reshape the future of social apps
(1:15:11) Funding landscape for AI startups is overheating: Mistral's $100M+ Seed round, importance of constraints, and more
(1:44:17) Science corner: Understanding the Bill Gates-funded mosquito project in Colombia
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.cnbc.com/2023/06/14/fed-rate-decision-june-2023.html
https://fred.stlouisfed.org/series/FEDFUNDS
https://www.reuters.com/markets/deals/intel-talks-be-anchor-investor-arm-ipo-source-2023-06-13
https://www.reuters.com/markets/deals/softbanks-arm-registers-blockbuster-us-ipo-sources-2023-04-29
https://nvidianews.nvidia.com/news/nvidia-to-acquire-arm-for-40-billion-creating-worlds-premier-computing-company-for-the-age-of-ai
https://www.bloomberg.com/news/articles/2023-06-13/databricks-hits-1-billion-in-annual-sales-while-adding-data-warehouse-tool
https://www.gamesindustry.biz/nvidias-acquisition-of-arm-cancelled-due-to-significant-regulatory-challenges
https://bard.google.com
https://coda.io/@presh-dineshkumar/jay-trading
https://www.ft.com/content/86b49e10-3dd2-4427-b70b-993bad47b061
https://www.cnbc.com/2023/06/14/calpers-to-increase-venture-capital-investments-despite-tech-turmoil.html
https://www.theverge.com/2023/6/12/23755974/reddit-subreddits-going-dark-private-protest-api-changes
https://reddark.untone.uk
https://www.nytimes.com/2023/04/18/technology/reddit-ai-openai-google.html
https://www.bbc.com/news/technology-20554441
https://digiday.com/media/twitters-third-party-app-problem
https://www.wired.com/2015/07/reddit-ceo-ellen-pao-steps-down-huffman-replacement
https://www.platformer.news/p/meta-is-building-a-decentralized
https://www.ft.com/content/cf939ea4-d96c-4908-896a-48a74381f251
https://twitter.com/natfriedman/status/1668650915505803266
https://www.kickstarter.com/projects/1523379957/oculus-rift-step-into-the-game
https://openai.com/blog/function-calling-and-other-api-updates
https://twitter.com/RobertKennedyJr/status/1667616444996104196
https://www.womenshealthnetwork.com/hormonal-imbalance/sunscreen-ingredients-that-mess-with-your-hormones
