CEOs in Silicon Valley have been inspired by Elon Musk's approach and have started to unleash their own inner-Elon. Companies like Salesforce have significantly increased their employee count in a short period of time. The growing number of employees in these large companies has created challenges in governing and making decisions. There have been protests and revolts within these businesses, with employees voicing their discontent and resistance to certain policies. However, in recent months, courage has gained momentum in Silicon Valley, with companies like Meta and Facebook focusing on efficiency and making tough choices to improve productivity. This change has sparked conversations and is seen as an important development that will drive innovation and unleash engineers to start the next wave of advancements.
(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!
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Referenced in the show:
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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
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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
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https://www.tmz.com/2023/03/01/draymond-green-calls-end-black-history-month-celebrate-all-year
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https://www.newyorker.com/magazine/2023/03/06/how-the-biggest-fraud-in-german-history-unravelled