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E146: Did the Fed break the VC model? Plus IPOs, M&A, revaluing unicorns & more

All-In with Chamath, Jason, Sacks & Friedberg

All-In Podcast, LLC

Coronavirus, Startups, Learn, Chamath, Investing, Davidsacks, Business, Alllin, Iq, Calacanis, Poker, Health, Jason, Technology, Sacks, Grow, Entrepreneurship, Friedberg, Money, Covid19, Gambling, Davidfriedberg, Allin, Palihapitiya, Tech, Tips

4.45.8K Ratings

🗓️ 22 September 2023

⏱️ 103 minutes

🧾️ Download transcript

Summary

(0:00) Bestie intros!

(3:05) GOP Primary update: polling, acceptable candidates, tentpole issues

(11:56) All-In Summit 2023 recap

(24:12) IPOs and M&A heat up: Arm, Instacart, and Klaviyo go public, Cisco acquires Splunk for $28B, but did the "great reopening" fall short?

(42:34) Did the Fed break the VC model? How LPs will evaluate fund managers going forward

(50:45) Breaking down Instacart and Klaviyo's businesses

(1:01:12) Revaluing Airtable and the path forward for ZIRP-era unicorns

(1:13:14) Fed pauses rate hikes, but says rates will stay higher for longer, plus: what breaks next in the economy?

(1:32:51) Science Corner: new "inverse-vaccine" treatment is a potential game changer for autoimmune diseases

Follow the besties:

https://twitter.com/chamath

https://linktr.ee/calacanis

https://twitter.com/DavidSacks

https://twitter.com/friedberg

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://projects.fivethirtyeight.com/polls/president-primary-r/2024/new-hampshire

https://youtu.be/yjj1QjZlQMM

https://www.bloomberg.com/news/articles/2023-09-21/cisco-to-buy-splunk-for-157-a-share-in-28billion-deal

https://twitter.com/pitdesi/status/1704874017357025499

https://www.google.com/finance/quote/ARM:NASDAQ?comparison=NASDAQ%3ACART%2CNYSE%3AKVYO&window=5D

https://twitter.com/aswathdamodaran/status/1704246090198036914

https://cloudedjudgement.substack.com/p/clouded-judgement-81823-q2-earnings

https://www.lendingtree.com/content/uploads/2023/08/ccs-chart-3-3.jpg

https://fred.stlouisfed.org/series/MORTGAGE30US

https://www.ey.com/en_gl/ipo/trends

https://stockanalysis.com/ipos/statistics

https://www.google.com/finance/quote/COIN:NASDAQ

https://www.google.com/finance/quote/EXPE:NASDAQ

https://www.axios.com/2023/09/19/instacarts-ipo-venture-capital

https://www.sec.gov/Archives/edgar/data/1579091/000119312523221345/d55348ds1.htm

https://influencermarketinghub.com/amazon-ad-revenue

https://twitter.com/jasonlk/status/1704212644402540573

https://www.saastr.com/5-interesting-learnings-from-klaviyo-at-650000000-in-arr

https://twitter.com/DavidSacks/status/1078755080478715904

https://i.insider.com/4dd4d1cf4bd7c8c90f000000

https://twitter.com/asanwal/status/1703492397739516068

https://www.cnbc.com/2023/09/20/fed-rate-decision-september-2023-.html

https://tradingeconomics.com/commodity/crude-oil

https://kalshi.com/markets/fed/fed-interest-rates#fed-23nov

https://www.popularmechanics.com/cars/hybrid-electric/a42558850/tesla-price-cuts-worth-buying

https://hellometer.io

https://www.nature.com/articles/s41551-023-01086-2

Audio player

Transcript

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0:00.0

Did you just finish a good cry because you have this wetness right here on your eye?

0:03.8

Oh, sorry, I just got out of my cold plunge and my sauna because you know I hit a new record

0:07.7

low weight 169 this week. Oh, what's your temperature on?

0:12.9

Oh, I don't want to say it's embarrassing. It's embarrassing. I don't want to say it.

0:16.4

No, what is it? I've been doing like 56, 58, but it's great. It's okay. I mean, all these lunatics

0:23.2

like, I don't know, there are 45 degrees, 48 degrees. I think it's unnecessary. You get the

0:27.2

same value, I think, 50. No, my two-year-old does 56. It's really impressive.

0:32.0

I consider an 80-degree pool to be a cold plunge. I don't get it unless it's like 85.

0:39.0

That's actually, I've been to full parties at Sachs's house. There's no difference between

0:44.4

now. It's like a shfitz. It's a shfitz. It's a shfitz. It's a shfitz. If it's not the temperature

0:49.2

bath water, I don't get it.

1:08.1

Yeah, it's like a shfitz. It's crazy. And then I went in my infrared

1:11.6

sinus and I've been going in. You do the cold, then the warm. I think you're supposed to do warm

1:16.1

then cold, no? They say end on cold. And so I've been ending on cold. I just do like a cycle now.

1:22.2

Cold, warm cold. Cold, warm cold. What are you doing? Like two minutes, 10 minutes, two minutes,

1:28.3

or what are you doing? Yeah, exactly. Like one or two minutes, cold plunge, four minutes,

1:32.5

you warm up, you get back to it, and then you jump back in. It works pretty good. I have to say,

1:37.6

my energy level goes way up. Have you been tracking your blood pressure? I have not, but I have

1:44.2

this executive health coach that I'm using. And so that's where I got those ridiculous glasses,

1:50.3

the blue lights and my sleep's better. I got some, I've taken some supplements. I'm eating.

1:56.3

Estrogen. Are you taking the estrogen, bro? No, Estrogen levels are at an all-time high for

2:06.2

you guys. It just oozes on to me. No, it turns out, even at 52, my testosterone is very high.

...

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