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going live hello everybody testing one two testing one two oh my God here we go sup Kevin all right all right we are live we're live hey to our audience Live on YouTube let me make sure turn off some one moment while I turn off somebody's got their sound on okay everybody's got their sound off and we are live here on the YouTube Welcome everybody am I hearing somebody no yeah someone has their sound is that you Jason maybe it's my computer hold on Jam you're live say hi hey what's up everybody I I'm watching you guys here

and then I have it streamed here right but I don't see it live it's not live it's actually delay my other computer it's on a 20 second delay yes we're on a 20 it's on a 20 second delay is that your decision Nick for uh cancellation purposes or no you can press the button at any time if you say something that's worth cancelling all right let me open the show properly uh here we go in three two all right everybody welcome welcome to the Allin live stream celebrating 500,000 subscribers on the YouTube do us a favor uh give us a thumbs up and go ahead and tweet and share we've got about 250 thumbs up this is how you break the algorithm if you give a thumbs up we're

now at 400 thumbs up 3,000 people watching we want to get the number of thumbs up to match the number of people watching live what does that do it breaks the algorithm and then uh it shares the show with everybody go ahead and tweet it we have taken questions for the last I don't know 3 days producer Nick put the stream up early and uh with me today of course your chairman dictator chamal popatia and the Rainman yeah David Sachs at some point the queen of quinoa the prince of panic attacks the Sultan of science will join us but for now uh we're sitting here in the Afterglow of the Trump uh interview where is quino by the way

nobody knows nobody knows we've sent a group out for uh the queen of quinoa and nobody knows where he is did you did you send send somebody to Sweet greens or the organic vegan is at Whole Foods maybe absolutely he's he's oh it's starting already man you you show up late you're gonna get barbecued uh all right let's kick us off here with a little of the Afterglow Sachs I understand that you got a phone call this weekend fill the audience in oh God please don't start giving us tips 100% do not do that I see somebody just gave a $10 tip do not give us any tips don't do that what is that that's real money they just yeah this is like a

thing on YouTube I guess only the people who are subscribers to the channel can be in the chat but you can also give uh what's called a Super Chat uh so Dan Dan the crypto gave us a $10 Super Chat and then that puts their little logo and their chat up on the top but I don't think we want you guys to send us money please don't do that oh top chat oh plus five plus 11 likes wow yeah so it's just a way for you to get uh a little bit more play and but just please don't tip us stop don't um sax fill us in oh looks like Dave has entered the should we let Dave in or no he's in we'll admit him he's in okay oh no here we go Stefano now is giving us a

$5.99 pound I guess he's from a oh my God here he is how you how you doing there buddy we are Live on YouTube right now by the way we are yeah we are yeah how do I see what people are saying have to go to YouTube you have to go to YouTube turn your volum have to go to YouTube and click on the link but then you have to turn off the volume okay I see all right what's going on uh well um apparently we have, 1600 uh thumbs up and 4,412 people watching live already okay everybody go ahead and give us a thumbs up please do not do Hank I just told you guys do not give us super chats he just Hank Leber just gave us a $20 Super Chat

God damn it stop it uh Atomic whooosh gave us a $10 Super Chat stop giving super chats I'm no we're doing in that to the Trump campaign all tips will go to we go to for the Humane Society of the United States oh look at this guy trying to score points how about it goes towards my PC2 how about we do that goes to PC2 all right everybody are you are you reading questions jao oh God bill just gave us a $99 Super Chat stop giving money to US Li give him a trump donation link all right um so I hope this doesn't blow up in your lap but uh sax give us your uh give us what happened post the the Trump thing you got a special phone

call this weekend yeah yeah the president called to say that uh he enjoyed the experience and to thank us and he even said even thank the you know your your co-hosts who who aren't fans of mine he want to say hi to you guys too oh so but talking about me or talking about free well I said to him that the two liberals well I said that even the um you know my co-hosts who aren't fans of his is had to admit he did a good job and he said well tell tell them I said hi too so oh okay so you sbag us with the president got it thank you why did you say that Trump didn't do a good job uh he and I really like each other in fact I think of all of us he was he

called me last November that's how this whole thing started if you remember no he called he called chamath a friend oh there you go and uh well he he he said uh you know one of the other guys is a friend and then he says say hi to the other two as well oh all right well president Trump he like look he he liked the experience and he what he told me is that he's heard nothing but positive things everyone he runs into or talks to says that they saw him on the Pod and I think it's like it's very weighted towards business people so when he meets with business people they're all like go I just saw you on the all-in Pod so uh he was saying he said we have a big hit on our hands

he said uh he said we're like TV stars now it's incredible imagine if uh if we had if we didn't have to push sand uphill with some of these folks I mean try trying to do the obvious things I mean it's unbelievable you guys unbelievable easy to admit in hindsight no well let let's go around the horn here uh we are now uh a couple of days post the interview I'm curious chth uh with a little bit of time between the interview I'm sure a ton of feedback what do you think were um the most important moments of that interview for the audience for Americans and for the voting public um well I thought you saw somebody that was um frankly very presidential um I think he took all

questions and internalized what he wanted to say and gave his version of The Facts where we didn't interrupt we didn't cajo we didn't Pander um we asked a question and then we stopped and we allowed uh the former president and someone running for current president to speak his mind and put it on the record in a way that people can listen to and go back to and I think that that's really the most important thing the second most important thing um is that I really want this platform to become a place that can convene uh these kinds of thoughtful conversations and it takes a lot of investment frankly you know upfront um I

think it takes a lot of effort um and I'm just glad that we were able to get it over the finish line and I feel I feel like we really accomplished something important so I feel really good about the whole thing bber um I'm sure you gotten some good feedback and we've had a little bit of time and I saw you were reading a lot of the press hits and we were talking about that on the back channel uh coming out of it what do you think the the important moments were and what do you think the public uh what resonated with the public I don't know I think people just like a long form conversation with I mean all these guys from Viv to Dean Phillips to RFK Jr to Chris Christie having Trump on

I hope Biden will come on the long form format I think gives everyone a much more kind of authentic and genuine experience with the the person that they're think about or considering in the voting so all the rappers around who this person is can kind of be suspended for a minute and maybe just hear a little bit from their mouth directly about the issues um and allow all you know all the judgment to kind of happen outside of that context but let them speak and let's hear the voice of the person that is running and I'd love to do more of that I think it's super helpful to hear the long format um discussions I've heard so many people by the way reach out to me about Jared

kushner's interview on the show that they were so surprised how different he came across relative to what they've read about him and heard about him and he's never done much long for until the show and that that made a real difference for people so I I hope you know I'm not saying anything positive or negative one way or the other I just think like the format's great so hope we can do more of it and then you can judge if you think they're fullish [ __ ] or you think they're legit you know sax uh a lot of back and forth uh and people perhaps saying the Trump Administration walked

back president Trump's comments on green cards for anybody with a uh college degree he said you staple it right to the degree there was a comment I guess from somebody on the staff hey but these are going to be super vetted uh and you know I guess the cynical folks were saying oh he walked it all back I didn't see it as a full walk back I saw it as yeah probably thought be thoughtful we don't want to let somebody hack the education system to get a green card if they're in fact a terrorist or something so what did you think about that exchange I think that's the one that got covered the most in the media well I think that what they were talking about was adding some sort of

vetting process because if you allow every single college or university even second or third rate ones to give unlimited green cards which is basically citizenship to anybody they could turn into diploma Mills that are used purely to you know circumvent the normal citizenship rules so I get that concern there has to be some sort of vetting proc process there probably does need to be um some sort of limit on the number there probably does need to be a real skills requirement there probably does need to be a limit on which kind of Institutions have this power because you can't just give the um entire immigration system over to our colleges and universities to run yeah maybe not

University of Phoenix yeah so look I think there are legitimate concerns about the ways in which a proposal like this could be abused but does that mean that that uh everything Trump said was invalid I don't think so I think that Trump expressed the right sentiments and the right values which is we want the best and brightest to be able to come over to the United States we want to have create the Dream Team here uh we want to have um High skill immigrants I mean he said all the right things there and I think it's just a matter of figuring out how do you actually Implement that policy but I think he overall helped himself on that question especially in the Tech

Community yeah that was the uh most positive feedback I got was hey thanks for asking that question and pushing him on it uh because it matters and I think there were there were a couple other questions I thought were really important um you know one other one that you asked that turned out to be very important was the one on abortion and he was extremely explicit and clear that he would not support a National Abortion ban just yesterday we got our first uh the all in pod became context for our first Community note correcting the vice president and maybe the president too because Kay Harris was out on X yesterday claiming that Trump would impose a National Abortion ban if he were to win

a second term I think it's really clear that he does not support that and um and so people were uh or you know taking that clip from our show and and putting it on there I tweeted that clip yeah so I think that I think that was very important I think it's another example of um Trump helping himself with that interview by the way he could have given the wrong answer too you know um there are people who who don't like that answer but we think it's the right answer and I think it's the right answer for him electorally but he gave he gave the right answer chances of him coming back sacks I think they're pretty good and pretty good just just one other

question I want to point out so I think the other piece of news and I think it really should have been far bigger news was when I asked him about Ukraine and he said that NATO expansion had played a major role in provoking the war [ __ ] farage in the UK who's running for prime minister on the Reform Party came out the very next day and said the exact same thing and there was a huge firestorm in the UK press because they're even more belligerent and bellicose over there they I mean they are like spoiling for a war and there was an absolute pandemonium and um in the UK press over farage saying that but there's abundant evidence that farage is

correct and there's abundant evidence that Trump is correct and I think that the two of them saying this now almost the same time I think that Trump saying it first actually helped make it acceptable for faraj to say it but I think both of them now saying it um after a lot of academics have said it uh Jeffrey Sachs John mimer I think that just to finish the point I think that it could now break open this uh debate over Ukraine and help us to get to peace solution all right I remain undecided would like to ask Trump a couple more questions I felt like uh the interview flowed really nicely and I appreciate president Trump coming on would love to

have President Biden come on as well I don't know if that's going to happen but let's get to your questions couple of housekeeping uh notes here um we will be having another uh all-in Meetup you can go to more than 50 meetups that are happening around the world on Thursday July 11th go to Allin podcast.co meetups Allin podcast.co meetups uh to join or host an event Nick will drop the links in the YouTube chat and uh as for the summit quick housekeeping before we get to your questions um we uh are holding back a couple of hundred tickets for scholarships am I correct freeberg or anything you want to let people know

about the summit before we get to questions it's GNA be amazing okay it's gonna be awesome we have some really great speakers uh we want to try and announce everyone together which we'll do in a couple of weeks but we just open up 200 more tickets which we were we were holding back so uh the first batch all sold out um we have 200 left if you go to Allin podcast.co or Allin Summit I actually don't know summit. Allin podcast.co summit. Allin podcast.co okay uh can submit an application um we are is the scholarship form up yet or we're GNA put that up couple weeks okay okay so we're gonna put that up last minute I guess all right let's get to your questions

everybody once again give a thumbs up for your squad hit the Subscribe button share it on your socials and uh let's get started uh here's a great question for all the besties Dave's Dynamite asks who's your dream guest for the show who is your dream guest for the show Cham op to dream guest Dave Chappelle oo nice really nice he would be extraordinary Max your dream guest came on last week so I'll just ask you who is your second dream guest to come on the Pod well I like Biden to come on the Pod and submit to the same type of questioning that um Trump did okay at this moment in time you say Biden that was going to be my answer as well freeberg uh tell us which

fictional uh science fixure character from Dune you would most like to see on the program as your guest great question jcal uh but my answer is Javier mle oh great pull great PLL why I think Javier Malay represents the salvation of the West and I think that um much of the West is headed in a kind of direction that he's I think described well which he generally calls kind of socialist policies that negatively impacts productivity and progress and Argentina learned that lesson hard and over a long period of time and he has kind of Superman like gone around the world flying seven times around the Earth in Reverse time and

Tred to kind of revitalize that that that that country and that economy he's gotten foreign dollars to go back into Argentina he's run a government surplus um unemployment is declining all the benefits of having free markets and having capitalism Drive progress for everyone um seems to be playing out in a very short period of time in in Argentina and I think that he kind of represents the the next phase of um you know what what could be a nasty decade or two ahead you know now that I think about it that we're talking about world leaders NBS xiin ping was to be incredible guest as well huh Jim yeah I um I think there's a decent chance we'll get um at least one of

them all right there you have it folks all right Manesh Dev asks us how do you view Ai and how it will influence your kids education saak uh I know you're super involved in this so what are your thoughts you have three kids by the way well I think I think the way that AI is going to influence education is that you could create highly customized AI tutors and so I think the revolution could be that every kid can now receive again specialized bespoke custom education as opposed to being on an assembly line I mean the way that we make education today is the same way that we make you know Fords or uh or McDonald's hamburgers right it's a big assembly

line where you create a large batch and you just move it forward and some people need to go at a different pace some people need to go slower some people need to go faster some people need to be on a completely different type of conveyor belt and you don't get any of that right now and with a die you have the ability to cost effectively deliver again a highly customized education experience for every child so I think that's where it's going uh but it's going to take several years to play out yeah and this is referred to in the industry as adaptive learning if you want to go take a look at that chamat your thoughts on AI and our kids future

I'll I'll expand the question a bit uh not just education but how will it impact our children's career choices and lives generally wow I mean I think that um I think the nature of work is going to change really profoundly and I think that right now we have not equipped people to take advantage of it so the things that are like known knowns to use the Donald Rumsfeld quote will be automated away um unknown knowns will also be automated away because that's just about computational horsepower so any job that you did that's formulaic will get replaced probably by a robot and any job where you're making guesses but the answer can be inferred or known that job will go away as well so what's left over

I think it's judgment where you have to express some error rate and that's acceptable because the job requires you to judge something and people like that um now the question is how do you train kids to have judgment and this is where I think we have really let kids down you know where does judgment come from it comes from experience where does experience comes from it only comes from failure where does failure come from it comes from a culture that celebrates resilience and says go take these risks go try some stuff it's actually really good that it didn't work let's talk about why um instead if you live in a world that's all about coddling folks

and microaggressions and window dressing um the kid won't be resilient the kids don't take risks yep uh and then there's just a parade of Terribles that leave these people inex experienced and without judgment and then I think the computers just run over these folks I have been giving this a lot of thought as well and I have been having my daughters go to the store on their own with money to buy stuff and doing all this kind of you know resilient adventurous activities with them having them take risks do dangerous things or or what maybe helicopter parents would think are dangerous things cuz all that's going to be left if you can get the answer to any question if you can

everybody's a good painter writer photographer designer coder what's left taking risk right like to your point shth and having grit and maybe being a great communicator and a great leader free Berg are you thinking about this at all ai's Impact and and how it's impacting how you parent your children I mean I think it's just finding leverage the um the transitions that are possible with every technology Frontier in human history have been ones of Leverage where the human role can scale up and you know does it really matter if you know how to do good handwriting when everyone's typing uh does it really matter if you know how to type if everyone's dictating

um and what can you really do that differentiates you at that new up level and I think that's really important to think about I think a lot of people transition from a world of um labor to design like you become Architects and um what the implications of that and how to be successful in that environment is how I would kind of think about re-education and how I would think about motivating success okay Ted Zang asks been watching the podcast for years now as a 23-year-old out of college what are your pieces of advice for getting into bigger rooms with more intelligence smarter well-connected and able

individual sax you were part of the PayPal Mafia you got yourself in the room part of the Stanford uh Community as well what's your best advice here for for Ted who's looking to get into the room where it happens it's year four post pandemic kids still on mute okay I think um I I would just I would just generalize the advice a little bit more and just say that the advantage that a young person has is that you have the ability to be obsessed in a way that when you get older it's harder to be that as you get older you get more responsibilities you have family you want more breath in your career I think when you're young you have the ability just to focus on a

particular area be really obsessed with it and um I mean it's kind of a a magical thing it's kind of a superpower that younger people have that it gets hard to maintain level of um you know Focus as you get older so I would lean into that I would say find something that you're excited enough about to be obsessed obsessed with that's that's my kind of generic career advice uh chth uh you came out of nowhere uh to find yourself in you know the room where it happens that AOL room where it happens inventur land and at Facebook you've done it a couple of times how does Ted get into the room where it happens well I think Ted needs to um embrace the idea that his life is going

to be made of chapters and I think that some chapters will work some chapters won't work um some chapters will work incredibly well some chapters will be benign in his life and so you have to just sort of take a shot as best as you can when the shot presents itself the the reason why I say this is that if you view your life as a series of chapters the real problem is going to be everybody else because they're going to want to Define You by one chapter and that's because it allows them to compartmentalize their shitty life so you have to be very careful in not allowing the expectations of other people to drag you down this is like you

should live eight or nine careers you should try seven or eight or 10 or 15 different things in your life um I've had many chapters from cashier at Burger King to entrepreneur to Executive to rank and file worker to investor all of it and it does not one is more important than the other and the only people that will try to make you feel good or bad about anyone chapter are the ones that are just completely impotent and on the sidelines and they can't get out of their own way so don't so just view your life as a series of chapters and just try your best and don't be afraid to take risk

you're saying also don't over index on other people's opinion I think that's something you and I have talked about you fell victim to that maybe a little bit in your career you said well I just think people will try to pull you into a culdesac because they themselves are Frozen all right uh freedberg uh listen yeah ignore the haters uh focus on your your craft and your skills uh freeberg I know that you've been torn 1989 era reputation era lover era what what's your favorite Taylor Swift era at this point I know you've gone back and forth what I'm just [ __ ] with you I'm telling you the Taylor Swift ER is as if you would know I don't know well what is

Taylor Swift's erors I don't know this stuff reputation ER people are just obsessed with Taylor Swift it's it's crazy how much people are obsessed with did you guys see did you guys see that Travis Kelsey went on stage in Wembley with her I I did see that I hope he didn't try to sing No but he did dance and it was pretty good I thought I mean that's got to be a lot of pressure to go there in front of 100 thousand people and not you know totally be two left feet he did a good job I thought yeah uh no but any he saw if you saw what he was wearing at the Super Bowl you know that he doesn't mind uh making a fool of himself so she's a she's she's a star she's such a

I would like to go to the error store just to to soak it in right just to check it out same I I I I would mind going to it either there I I there's a 5050 chance I go to it in Milan oh let me know the doesn't she perform for like three or four hours I mean these things are thing it's a whole thing yeah it's a whole that a long performance and I guess people don't get sick of it what's the total revenue on this sick of four hours it's like more it's like two two two billion three billion right it's like an insane Hall and she owns all the equity like a good it's like a good quarter multiple of okay it's a good C Invidia went up that much in the LA

since we started the live stream all right your donations as you know today if you do a super chat all those donations go to the HW Tua fund to help her find a new job thank you to everybody donating is it true the HW Tua lady got or the girl got fired the woman I don't know this is just a rumor but I mean it's kind of taken over everything no I saw something I don't know if it's true or not but I saw online that apparently she's a preschool teacher and they you know they didn't like I mean I thought she was funny of course it's course hilarious she was super funny what is the big deal why are people so

like uptight I don't know apparently some people think she might be a bad influence on their preschool age kids I don't buy it my God no she's an adult it's an adult kind of goofy thing stop with this pandering look at thisand here's the deal my my wife was really upset because I made it sound like I wasn't happy with these two dogs here they are when they showed up the stre I rescued these rating is going up in in Italian in Italian they're called bardini yeah this is a bardini this is a little Italian Bard that's the bastardino two of them are bastardino oh is that bardino kacho is that what you had the other day the bestard

bardino oh so so wrong um all right let's keep going here oh is there any more of this or no next question all right um oh I'll just give that person Ted um to to um Sax's point about getting focused on your career when you do find the one thing you love building your social media around that your entire online identity whether you have a podcast yourself or you make Tik Tok videos or your socials you know blog substack beehive whatever your jam is just really get focused on one thing that you can excel in I've given this advice multiple times and doing spec work and showing that you're doing work in the world independent of getting paid

is a very powerful very powerful tool we've seen that over and over again with the all-in creators so don't be afraid to just do work online and share it with the world uh around your passion okay hey take another question from the audience here we got the 26y old uh Nick you are also pulling in questions producer Nick is pulling in questions uh from the audience in real time correct yes Nick okay uh let's see what this is Dominic mcder what experience and habits systems from your childhood contributed to making you the skilled individuals you are today uh sax any uh anything from the Rough and Tumble childhood you had in the south of America uh or he's not from the south he

is from the Memphis that's not true yeah I grew up in Tennessee that's right I mean well we moved there when I was five years old I mean I was originally from South Africa and then my family moved to Tennessee when I was five um you know as I look back I read a lot when I was a kid H and I didn't really think of myself as an outlier in that department when I was younger but now I realize that I clearly was and by today's standards it would be you know a huge outlier you know I can't kids today you just can't get them to read there's just too many entertainment options or too addicted to screens um It's actually kind of depressing I read a lot when I

was a kid and you find a lot a book a month a book A Week well it's more like if I got interested in something I would go down the rabbit hole and just kind of read about it until I completely exhausted that I remember I think in like 10th or 11th grade I learned about Darwin and I had never been exposed to that before and so I ended up reading you know the the the the um teacher recommended um Stephen J Gould and Richard Dawkins as W modern authors that I might want to read if I was interested in the subject matter I end up reading every single book by Richard Dawkins every single book by Stephen J gold not one of them like all of them and um at the time is is what I was interested in

so that's why I read it but looking back that was clearly an outlier Behavior must have been tough for you when Tucker told you that all that Darwin stuff was actually not true must have been tough it must been heartbreaking in fact chath anything from uh your childhood on the on the Rough and Tumble streets in Canada that uh you know put a little fire in your belly today yeah I mean the V diagram is growing up on welfare and getting beat mercilessly by my dad it turned out to be incredible incredibly valuable okay there you have it folks uh if you can get your parent to beat you and beat your ass you will be successful well no and and and be on Ware I think those two Ware yeah uh freeberg you lead

you led a Charmed nepo baby life uh tell us how did that inform uh all this great success you've had oh pass you pass he does not want to talk about his childhood you did that three hours this week in here I left home early I was 15 years old when I moved out of my home and went to college and I was like on the road so um I was eager to move on okay so the trauma is real uh we'll leave it at that I you know what I learned I've learned uh you know you got to run in a pack uh and your just safety and numbers when you grow up in Brooklyn and uh I I have no fear uh of getting in any kind of an altercation or fight so I do think like

um I did learn to have a thick skin and be tough uh growing up in a bar in Brooklyn I'll leave it at that uh all right let's take another question here let's see you guys see all these comments coming in I I mean I can't follow it they're too fast and please stop chats yeah live shout outs it's super interesting stop giving super chats stop giving money to US how much money have we collected so far I can't even keep track of it it's just there's like a hundred people have given any amount of money where does that money go Jal how are you gonna Griff that how I'm trying to figure that out I'm trying to figure out how to get that money into my Nick

how do you make sure jcal can't get his rubby paws on that money Nick can you see how much money it's been total so far uh not yet I think I can afterwards um I I just want to know is it is it like half an arm of the sweater is it like most of the sweater is it all the sweater I just want to I think it's like the zipper area I think we're about I think we're about a quarter way through it um but I see a couple of hundies in here some people get Brandon gave a 50 Bill gave a 99 I mean people are giving hundies and stuff like that it's just absurd but well for $1 thousand dollars you can buy the sweater um all right here we go wait you want you want to prioritize superat I

mean the zipper I mean the zipper sorry yeah sure yeah absolutely we we'll we to give all this money yeah get get the Super Chat guys to say what the Super Chat what is the Super Chat anybody who gives money will will do their I got a Super Chat question one dollar Frank kenez just gave a dollar trying to sneak in you can't sneak into the Velvet room for a dollar bro dollar $2 gave the guy outside of just gave the woman at balazar a $1 tip for a table it's not how it works kid that's not gonna get you that's not gonna get you a table David S this question is for you oh here we go $20 from Alex Thomas how is the all in Tequila business coming

along and will you allow your fans and Community to invest wait hold on wait I think that we should answer this on behalf of Sak because Sak has been doing this and every now and then it's like an Easter egg he texts into the group chat and update I am not a tequila drinker but I will say it looks totally [ __ ] amazing I can't wait and I don't drink tequila and I cannot wait that's what I'll say I can all I'll say is I saw it's incred it's really incredible it's really I mean what you have done is really incredible I saw the bottle and the packaging and my PP got hard I'm just leaving it that it's incredible what I mean where are you this this

thing is going to be a it's going to make more money than anything else we're going to do ever is it manufacturable Seck like what you that design like are you going to be a hey hey hey hey hey don't reveal too much it's good it's good it's happening it's happening everything's on track it's one of the most beautiful designs I've really I've ever seen for we're we're hopefully gon to reveal it we're hopefully gonna unveil it at the all- in Summit yeah and then you're at the summit you'll be able to if you're at the summit you be able to pre-order it and probably I don't know exactly when it'll [ __ ] probably give give them the taste of the hierarchy like the super lied and super

limited bottle super lied like it tastes better than what is the thing that you said that's really really good well we're taste testing against like class isil Ultra which is you know $3,000 a bottle or whatever and it's better than that yeah that's the goal yeah I am so excited about Sax's sax you just drink you sip tequila with like an ice cube in it is that how you do it but you would never use this tequila to make like a margarita right no no never okay this is too much Margarita Jam no you want to use like a Blanco or something and a margarita this is a margarita this is uh extra on yo so this been this has been aged in a barrel for five years um how the $3,000 tequila I'm blending it up

with some sugar water you just want to drink it over ice I mean some people will drink it neat but that's way too hot in my opinion that's that's tough but you want to water down a little bit with some ice open it up that's the right way to drink it yeah you open it up a little bit that's how with saak and I when we would hang at the battery we' do that I like Sax's move saak came in you know into the whole muguna of uh this this Enterprise and he said I'll do the tequila give me a quarter million dollars in this LLC and everybody shut the [ __ ] up and I'll be back at six months and you know what everybody shut the [ __ ] up and he brought it he brought the Heat I am so

excited uh for this you want another Super Chat question yeah sure $50 from Eric okay uh what is one thing that makes each of you most optim can we allow sorry can we allow anybody that's given Beyond a certain like the 50 bucks give them a chance to pre-order a bottle I think that's kind of nice how many of those guys are there no like that's tough to track that's tough to track tough to track the why Nick can you tell who's given at least 50 bucks for more if they've done that which we don't want them to do let them at least pre-order a bottle with wait now people are going to do it now people are going to do it don't do that don't do that yes if you

donate $50 we'll get your name and you'll get to pre-order a bottle someone said sent $100 and said this is for the zipper oh okay we have a very wealthy audience listening right now this is pretty crazy anyway $50 from Eric what is one thing that makes each of you most get his name so that we can give him a chance to buy what is one thing that makes each of you most optimistic and motivated about the rest of 2024 and 2025 well I'll tell you something I have my ad board meeting for uh my legacy Venture funds and um I was going to write this up it's hard actually to post a PDF in in an X poost um you can do it in

substack a lot easier but this was the first quarter where in since November since q1 of 22 where I have not had a meaningful draw down in my portfolio so I kind of think things have bottomed so I actually like before I was more optim istic at the beginning of January not knowing where valuations would be um because a lot of these valuations in all these private companies are not obviously set by us they're set by third party firms pricing new rounds or valuation firms that compet to the public markets which are still depressed I mean saaks tweeted about this today about I think gitlab which is like like a Nutty valuation um but despite all of that um you know that portfolio that

little that section of Social Capital has stabilized and uh that was really heartening for me to see that so I'm actually just excited that we're beginning the process of rebounding which if you think there's going to be a bunch of cuts in the back half of this year and into next year um you know these next 18 months um are going to be okay for the private markets the we tend to price those things forward by that amount if not more so um I think that valuations are are in a decent place at least looking at the numbers Zak anything you're looking forward to back half of the Year well I think uh daddy's coming home to the White House that's got me excited

oh your daddy so um but on a personal level I guess I'm you know excited about working on glue so that's a lot of fun right now so we're gonna we're you know we did a a limited release behind a weight list and we're on boarding I don't know about 40 companies a week now and then as we do that we discover more needs and issues issues we knock off those feature requests and then we take the next 40 and so we're just doing this systematically until we can go ga General availability where there'll be no weight list everyone can just sign up and we're kind of racing towards that date over the next two to three months that I think that's exciting for

me freeberg anything that you're looking forward to I'm looking forward to the election being over so we can stop talking about politics number one number two is I'm I'm building a business at ohal I am very excited every day with the progress we make we are building incredible products we are signing deals with customers and partners every Milestone is exciting when you're building something new and novel and seeing it work in the market it's pretty awesome so um that to me is uh just like you know and there's such a long Runway ahead and there's all these great problems to solve so I love it it's great fantastic uh yeah I Echo uh for B

would be great for the election to get resolved um I am uh super excited about um am I super excited about back half of the year I'm excited for ski season again uh and I am super excited about some of the companies we're investing in chamat your point I think the bottoming out has occurred and we're starting to see a lot of secondary offers come in uh for Shar in some of our fund one two and three companies which or fund one and two companies those are the ones that have more time to bake so that is actually I think a sign I don't know if you're starting to see that now some of them are lowball offers where people are offering half off the peak valuation but

it's an offer nonetheless and there was no bid for what 18 months on any of these companies or with the exception of like maybe SpaceX and stripe so yeah feels like it's bottoming out uh let's well I don't know I mean so I think there's a huge gap right now between public and private valuations so retweeted Jason Lumin this morning which choth referred to who pointed at gitlabs numbers I mean this is a company that's got 700 million of ARR it's public it's valued about 6.9 billion so 10 times ARR it's growing 30% year-over-year which means it's going to add over 200 million of ARR over the next year it's got 130%

net dollar retention so basically all of its existing customers are expanding about 30% every year which is amazing um expand that show more just for the rest of the stats Nick click yeah there you go oh no I was if you click show more you can see the rest of Jason Lin's tweet oh there it is on the side yeah anyway it's actually profitable it's generating free 20% free cash margins um and again this is only worth 10 times ARR and then if you look at private markets the last two companies that I talked to which are uh exciting companies they're at 10 million of ARR and they want billion dollar valuations 100 times yeah and I don't know if they're going to get that like it may

land at eight or 900 million but still they want 80 90 100 times er valuations now they're growing a lot faster than 30% year-over year but are they really going to be growing faster than 30% when they're at $700 million of of scale or even 100 million of scale pretty hard to do it's very hard to do so there's still a very big gap between public and private valuations or the question is like which of these would you rather invest in I mean a company that's totally drisk it's already public it's fully liquid and it's growing very nicely it's weathered the storm I don't know I mean I you know buying a basket of uh pretty fast scoring SAS companies at 10 times

AR seems like a fairly attractive strategy to me right now uh we just had our first private Equity Firm come into one of our companies um actually it's happened twice now in the last year private Equity kind of crossover funds asking to buy a percentage of a company and kind of take it over so I think that's the sign perhaps of a healthy Market where you know you have many options of what you do with your funds and some Venture funds are choosing to maybe buy out companies and act more like private Equity because they see maybe you know a better opportunity but there's a lot of venture money out there still huh sax so that's pushing the bid

up people are looking to uh find that 10 million 20 million AR company and place a bet there's just too many funds let's take another question Nick from the audience and what's the record what's the record right now in terms of donations because this is all going to go to charity folks dead serious we'll figure out the charity later I think 200 there are some coming in in different kinds of currencies that I have to convert manually but right now for USD I see 200 from rahill he said I don't want a zipper I'm about the deal sleds respectfully how much for the lower Piana chamath $200 no this is a

sweater I got from the the team at Louis Vuitton because they asked me to wear it um I don't know it's probably a couple thousand bucks okay here's a question from Aditya $50 at the level of money and power you all have as a group how do you think about your legacies if at all I don't um and I think that that is a really really terrible way to live your life um there have been in humanity about a hundred billion people that have ever lived and if you took a sampling of a random thousand people and said who do you remember from history the overlap of the same five or 10 people would be

almost Universal which is to say that 100 billion minus five people are not going to be remembered and so this goal of trying to be remembered uh I'm not sure accomplishes much I think what's important is just to make sure that you don't have have a lot of regrets and that when you have the chance to try something fun or try something memorable or challenging um because you thought you would get something out of it you did it as opposed to how will people judge me for this and how will I be written I just think it's a legacy forget it man like your great grandkids won't know you there's a decent chance your grandkids may not

even know you so like what like just you got to live to be happy today uh that's my personal view I just think this whole Legacy thing is nuts all right 8,000 people watching live 2,800 thumbs up give us a thumbs up right now let's get those thumbs UPS to uh 4,000 and let's break the algorithm uh freberg you think about your legacy much these days no saak any uh any thoughts on Legacy no I mean honestly it's not I agree with jamath it's it seems like it's not something you should be preoccupied with too much yeah I mean you want look you want your kids to be happy you want to have success in business um you know there it is and

then it's done you're done and then you die so Legacy who cares about Legacy what does that mean other people's Judgment of you like some article b or Wikipedia link who cares yeah I I mean I get it as a young person maybe you're you think you might project into older people like they're thinking about their legacy um um I think about like having great experiences and optimizing great experiences with my family my friends uh and then business partners who I love that kind of optimize for family and friends and I had two great experiences this past week I uh I went to Disney on Saturday with our friend Jason Chang and uh went to Club 33 which was like a wonderful fun experience to go in that

like private club and then I pinched myself because I could afford to have a VIP tour guide I don't know if you've ever done that guys um where you just get taken around the park and they you jump on the rides and man that was like I've been to Disney once I stayed at the California Lodge nice I think it must have been what hell looks like and I've never been back did you have the VIP tour or not sure I had the everything and I thought it was just the most horrendous horrible experience ever my kids loved it we did so many rides I had so much fun um but maybe they're of the age all right another question from our amazing audience your donations uh anybody who donates here is

going to have their donation given to charity $50 from Tommy Gano uh oh Tom big Tommy yeah big Tom uh do you see an opportunity for the intersection of blockchains and AI I also want to pre-order for tequila please smiley face crypto is a disaster next question anybody I think that I think that I think that if you take um forget the currencies for a second but um what is a blockchain it's uh an incredibly accurate highly distributed State machine that could be valuable if you wanted to do highly distributed inference so if these AI applications get to scale I think one of the most important problems um is around business risk and

continuity because if all those models run on AWS and somehow you can take down AWS now all of a sudden your app isn't available that's a problem for companies it's also a problem for countries that may want to use these clouds so then all of a sudden you say well I need to have it distributed well then if you can only distribute it across three hyperscalers that's not really a lot of risk management so then you go to a place which is like it needs to be highly distributed but if you run inference in a highly distributed computer environment then all of a sudden you need to have an extremely accurate State machine that can then thread all these

things back together so that's the intersection of AI and crypto that's probably the most logical but there hasn't been any real attempts to figure that out yet um but if there was such a project that did that um now then it be creates a bunch of other issues around like Nvidia lockin and stuff which you also can't support you need to be able to distract it so it could run on CPUs in a really powerful way or other custom silicon but um that would be my answer to that well one of the problems that crypto solves with respect to AI is helping you know what's authentic or real versus what's fake because with AI you're not going to know what's real anymore I mean the AI can create a

perfect forgery of everything or we'll soon be at that point so crypto will be helpful in that regard um I think crypto will be the way that AIS pay each other clearly they're going to pay each other in some sort of analog way uh bology has some really interesting thoughts about this I'd refer you to some of his tweet storms about it yeah I'm just hoping we see a great regulatory environment for these crypto projects in the coming years that might be one of Trump's most brilliant Maneuvers in this past election cycle is to pick up the mantle of Regulation my gosh Nick how many bottles of tequila have we just pre-sold here this is incredible quite a few God oh what's the

demand I many do people there like tens of bottles you've sold tens of bottles you you've sold almost two dozen well I mean I'm sorry to tell people this but it's going to be very limited I think we're only going to produce about a thousand cases which is 6,000 bottles 8,000 tops I would say because there's only so much 5-year-old juice that we can get you know for the for the drink CU normally look these folks are taking time to show up aged well these folks are they're taking the time to show up and and they're and they're donating so but we're going to get first we're going to get first shot attendees at the all-in summit so we're going to unveil and the people that just donated 100

bucks people who just or more I guess all right give us another question Nick let's keep this train moving here we got a time for maybe two more questions here okay this question is questions on the live stream do I pay on chow chowder uh what is one book you would recommend that transformed how you think $100 man search for meaning Victor Frank lers poker Michael Lewis transformed how I think that's a tough one I don't know after may have to come back on that one somebody in the chat mentioned Ein Rand um I did like Atlas Shrugged but I don't know if think writer good Concepts but not a great writer the pros is so brutal the pros is brutal I I I totally agree with you I

mean make it a short story freeberg you got a book that transformed your life I put it in the um Summit gift bag I think last year oh Zen mind beginners Mind by Suzuki which is basically a uh compilation of the Dharma lectures by the found of the SF Zen Buddhism Institute and um like the whole all the lectures are all about like sitting Zen like Buddhist Meditation sitting Zen meditation but the thinking is so broadly applicable around how the human brain has a tendency to always seek uh things that uh this continuing Drive of desire and if you can let go of that drive of Desire like much of your perception reality changes and the second is like

dualis thinking where you think about everything as one or the other everything in the universe that we think about is like in or out this or good or bad and I think um for me changing one's point of view on those two aspects of how the human brain kind of natively Associates the universe within which we live uh can have a huge impact in in decisions and um emotion and and so on in life so uh that's a very important book for me and you could read it a million times and always get something new out of it it's just a copy of his uh lectures all right give us another question Nick as we have a new high donation rapid Mark Hustler $200 oh okay

on Rogan's podcast Neil degrass Tyson made predictions for 2050 examples the human space program will fully transition to a space industry supported not by tax dollars but by tourism we develop a per perfect antiviral serum and cure cancer do you have any predictions for 2050 plus tequila donations for 2050 well we'll definitely have predictions for yeah artificial super intelligence will be here long before that and then the problems and the questions it answers are going to be mindblowing we might figure out like the origins of the universe by that time we might figure out Consciousness I mean there are questions that humans have a really hard

time with so I would say artificial super intelligence anybody else have a prediction for 2050 that's like a 25y year prediction window yeah I mean nobody has any predictions the guy just spent 200 bucks nobody can give him a prediction for 2015 prediction you you would have your $200 would have been worth 188 million if you put when you get out when you get out that far you're basically just talking about science fiction right I mean well I mean if we went back to 2000 Sachs we if said we'd have flying cars in 2000 you would be right I mean Archer and Joby are running sorties right now so yeah but that's not what people meant when they said that that we there's not

been there's like prototypes but there's this hasn't transformed Society they said we'd have self-driving cars and wayo just opened up we should have companion robots by 2050 well say more you know like a robot that works around the house that does kind of the 80% of the human toil that I actually think think that could be really like the HW Tui robot H robot I mean more 2000 the H to a 2000 I I mean no I mean more like it does the gardening it does the dishes it does the vacuum cleaning does the hot toing doing that's just ran greber ran for it he can't even be on air for this that's like that's like a that's like a good on that's a huge unlock for humans

my dogs wanted to go out oh um so there two there two key technologies that I think are long range that I've talked a lot about um we had a conversation last year on the summit about uh Fusion uh Fusion generated power which um you know that's kind of a time frame where we should be kind of if it works right at production scale seeing production steady state output and the other one is uh aging reversal which there's a tremendous amount of research and we will be talking about at the all-in summit this year we're going to have an amazing conversation about the research that's gone on in reversing aging which I think we talked about in the past is fundamentally driven it looks like from

um epigenetic errors in cells so not DNA errors like was originally theorized but like the molecules that sit on top of the DNA that turn genes on and off in a cell and when that becomes unbalanced the cells start to dysfunction organs dysfunction and that is the fundamental driver of aging and there's now a set of systems and molecules that we can apply to cells to reverse that and actually reset the molecules that sit on the DNA so the cells start to become young again um and there are many billions of dollars that have gone into this research and what I've heard in nonpublic discussions is that this is like looking like it could be very real

that would be really amazing so imagine a you drug yeah that's in our window I one one of the things that I'll also just say on this is like I think that there's this intersection between Ai and biology that unlocks like a really like incredible Paradigm for how humans can create things and make things on Earth where you could say I want a molecule or protein that will go in and find this specific cancer cell for me and then you can actually render that protein apply it to a patient and it can immediately wipe out that particular Target where the AI resolves to the molecule that's needed or the genetic structure that's needed to make a let's say a plant that can grow on Mars I want to make a plant

that can grow on Mars the AI renders that the the Genome of that plant you produce it you ship it to Mars and you start growing plants in the really weird environment on Mars's surface so I think that by 2050 we have these kind of intersections that enable some of that stuff that could be really powerful hey uh give us that Mel question if you can that came in for a hyund that's a good one I don't see it I just had a $200 question for you though oh give us a $200 question why are we getting paid money I don't how does this get turned on uh it's just like a feature of of YouTube yeah you can do two things in YouTube

you can do a super chat where you give money and your chat gets uh highlighted in the top of the chat uh and then there's memberships so we could for the next one turn on memberships and people will pay a dollar a month 10 bucks a month to be a member it's kind of fun it gives you like extra features all right I got M's oh okay good $100 from Mel I am reading the comments that's why I'm laughing what are some of the ethical dilemmas that you faced in your careers and how have you overcome them what about some ethical dilemmas you've seen from the startups you've invested in yeah uh I've had maybe two of these situations happened where people

were let's say I'll just make this a composite but you know over 400 Investments we've done we had maybe two instances where people were [Music] um doing things that would be illegal and we had to in both cases I had a sit with the founders and said listen I I can't be on the board of this company if you're going to do this kind of things and in both cases I gave them the option to return our money at par last valuation um and yeah I resigned from the board and took our money back so it does happen sometimes you got to be very careful because you know somebody does something um where they're not upfront or completely honest and they sell

shares in a company it's called Securities fraud you got to be really Vigilant if especially if you found out about it and you went on the board somebody um asked whether trth Hawk how do you pronounce the your wine jama's hwk TOA some of my wine right on the damn floor he did hwk to it on the floor I saw if he doesn't think served is good enough he'll just dump it on the floor he took the he took the glass and he poured it out on the floor like it was a nice aged burgundy too if I remember like oh my God doing it all over a marble floor oh it was I I mean it was the height of stop drinking this [ __ ] wow it was it was there was actually a question about wine shth if

you want to answer it sure oh here we go um John NAB asked and this was a presubmit one I'd like to know what old world and new world wines are each of the besties favorites and then someone else asked great question how do you uh know what a good glass of wine is or something like that well I really think it comes down to your own personal taste I'll give you a perfect example of this so there's uh Mero gets shat upon a lot by fake intellectuals but it creates some of the best wines possible as an example um if you were to go into the old world there's something you probably heard of called chat Petrus those are like5 to $50,000 a bottle but if you go to Italian old growth Mero uh like

massetto that's probably $1 to $3,000 so enormously just an order magnitude cheaper it is incredible and pound-for-pound better than Petrus and if you put it against it in a blind tasting you would prefer the masetto over the Petrus so what what does that mean I think it means that there was a lot of people that just want to demonstrate they can spend money and that's dumb because I think there's just a lot of incredible wine that's much cheaper than that then if you go all the way down to like you know for example last summer I I gave these guys some of this but the most incredible white burgundy I have found is Charles Busan on 80 a bottle absolutely incredible and

it'll run circles around pycm it's running circles around Kosh D which are thousands of dollars so you got to try a lot and you got to go what tastes good and who cares what anybody thinks by the way I will pre-reveal this but uh I think I told you guys this but Joshua and I so my simalia and I we just filed for a liquor license and so when we get it we will be allowed to buy wi wholesale so we are becoming uh so that we can no because like because honestly like the wine is so marked up and we were like well if we have our own liquor license and we have our own storefront so we got a storefront um we're going to be able to buy and import wine at wholesale

prices what's your favorite five to $10 bottle chth like when you go to Trader Joe's what do you really like to I don't I don't go to Trader Joe's it's off brand I will never go there uh no but you have a you already gave an 80 EUR old bottle so that's a $100 8 8 bottle if you can find a Charles Busan white burgundy it's incredible pal Meers a couple hundred bucks consistently excellent um in the New World um if you want to spend sort of between that 5 to 700 colan Sloan Bond all ACR acres is probably my favorite Napa wine and it's not the most expensive I mean it's expensive to be sure but it's not in the Harland category or Screaming

Eagle har like 1,000 bucks a Bott eag like 2 to 3,000 100 acres is like 500 bucks and I think it's the best Napa wine and I like to like I like Sher as well Sher there's a guy yeah there's a guy named sha thri who is a kind of he passed away two years ago I think yeah two years ago um he made all these crazy California wines um but he had this theory that it wasn't just about representing the varietal or representing the particular plot but he really wanted to create a story and an Essence from the wine so every year he had a name for the wine he created a custom label and he would go out and he would Source grapes and he would test

all the grapes at different Vineyards and he would do like a multiv variety um wine that he never kind of disclosed what was in it and then he threw out all of the like the conventional French wisdom on like how do you make good wine and he went back to all of these Franciscan monks books and he translated them from like Latin on how do you make amazing wine where you like leave the grapes out and let them breathe for a night and live under the moon after the franciscans the franciscans have crushed two things one is champagne and if you have a chance to buy an incredibly good bottle of single grape chardonay champagne I encourage you all to do it don't buy the Blends but if you can get

a bottle of Salon or get a bottle of Paul roer these things are unbelievable and the franciscans used to make it they're incredible the method the methods are different because in the French model it's like you crush as soon as you harvest and you know like a lot of the guys you mentioned earlier they'll Harvest at 3 in the morning so that the berries are still cool when they start to crush but vachir and the franciscans they'll like Let The Grapes start to ferment naturally out in the sun in the open before they even do the crush the Italians do the same thing also that's how Amon so anyway check out Sean thri it's his label's called pattis

and he's got like an amazing kind of every year is different every every vintage is different it's really incredible um but he's gone now so all this stuff you got to buy uh okay well I'll second just on the um cheaper say under $100 bottles of wine I'll second Jam's recommendation on white burgundies they are you know these are white wines that come from the burgundy region if you drink Napa whites they tend to they have a lot of sugar in them so they T they either taste like honey or sometimes butterscotch those are the two dominant flavors when you start drinking white burgundies they're just much more complex they they have a lot of minerality from that region and great

nose yeah they're they're less sweet they're more floral sometimes yeah and just very crisp and refreshing especially for the summer that's a really nice bottle of wine to drink on a hot summer day all right that's what we need let's do this next uh live chat when we're outdoors and we can uh have some just nice chilled wine this has been an amazing hour plus with the besties for hitting 500,000 Subs we're now at 528,000 Subs 8,000 of you live thousands of thumbs up thousands of dollars in donations to charity we'll pick a charity I think it's going to be the Jal pc24 Pilatus fund uh and we will see you all when we hit when are we gonna do the next one of these 750 600

we're gonna do a million subscriber party in Vegas that's the party in uh we're GNA do a million subscriber party in Vegas uh but between then and now maybe we'll announce another one of these maybe every 100,000 or 200,000 Subs we'll do this again yeah 750 makes sense I think right maybe do a 750 yeah had 750 we'll do this again thank you yeah there's a recommendation next time we should drink while we do it yeah there you go uh it could get really interesting all right everybody uh for your chairman dictator chamal po haaa go get his substack really good check out glue from your boy David Sachs and uh these giant potatoes that Dave's making you get your hiring over at

ohal you need somebody any any open positions very selective what are you looking for what's the what's the most uh hardcore I have a I have a chief commercial officer role that I'm spending a lot of time on right now Chief commercial officer what is like a chief Revenue officer is that different yeah it's the same thing the same and why don't you make like a cantaloup siiz rusted potato for steakhouses I think people would go wild for that you know yeah watermelon size giant water table slice it open come loaded no but how load potato how do you cook it evenly that's the hard when it's

too you could also make french fries that are the size of like a lightsaber why don't you do that the challenge in the potato I would buy lightsaber size uh french fries that would be double with the duck fat you cook them in duck fat can you make us duck fat french fries d That's that would be incredible can you make yeah absolutely is our audience still there or have they left they're still here they're winding down cuz we're winding down they are winding down but it's still 6700 people in the don't you guys have anything better to do I gotta go not you the audience uh and uh we'll see you all

Nick make sure do do you have everybody yes I have their information I got it you everybody's information and if not just email Nick at the all inod and and if you yeah because we'll just make sure that you you get on the list I got it thanks everybody for your support we love you thank you thanks for tuning in