E75: Fast shuts down, board culpability, Elon buys 9% of Twitter, deplatforming's evolution & more
- Apr 8, 2022
- 1:17:38
- Full Episode
0:00 Bestie intros, All-In Summit update, and more 8:01 Layoffs and shutdowns: Fast, Better.com, GoPuff; Chamath gives a macro- and micro- overview for startups 14:09 Preventing layoffs, culpability in Fast's shutdown, VC diligence strategy, VC/founder model 41:51 Elon buys a 9% stake in Twitter and joins the board: what does this mean for Twitter, free speech online, evolution of deplatforming 1:03:24 Food shortage update, ideal US objectives going forward
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://www.theinformation.com/articles/live-fast-die-young-behind-the-fall-of-a-one-click-wonder https://techcrunch.com/2022/04/08/better-com-cto-steps-down-agrees-to-voluntary-separation-in-wake-of-mass-layoffs https://techcrunch.com/2022/04/06/better-com-offering-employees-60-days-severance-losing-tens-of-millions-per-month-per-sources https://www.theinformation.com/articles/gopuff-plans-hundreds-of-layoffs-to-cut-40-million-in-costs https://articles.sequoiacap.com/rip-good-times https://sacks.substack.com/p/the-saas-board-meeting https://medium.com/craft-ventures/blitzfail-how-not-to-go-off-the-rails-24ccaf92c410 https://www.bloomberg.com/news/articles/2022-04-04/musk-takes-9-2-stake-in-twitter-after-questioning-platform https://twitter.com/paraga/status/1511320953598357505 https://twitter.com/jack/status/1511329369473564677 https://twitter.com/elonmusk/status/1507259709224632344 https://twitter.com/micsolana/status/1511360061670662149 https://twitter.com/micsolana/status/1511674851202945024 https://www.cnn.com/2022/04/06/tech/pinterest-climate-change-misinformation-policy/index.html https://gro-intelligence.com/insights/gro-predicts-us-corn-stocks-will-drop-sharply-in-2022-23 https://www.theamericanconservative.com/articles/the-state-department-failed-to-prevent-the-war-will-it-now-prevent-the-peace
Brief Summary
Tech layoffs, Ukraine's food crisis, and Elon Musk's Twitter role discussed.
Key points
- The All-In Summit. The All-In Summit is sold out with exciting parties planned, including a poker tournament and themed nights.
- Tech Layoffs. Major tech companies are facing layoffs, with Fast.com shutting down after rapid growth.
- Market Predictions. The Fed is expected to increase interest rates aggressively, impacting startups' fundraising capabilities.
- Governance in Silicon Valley. Discussion on the lack of proper governance and its consequences in Silicon Valley.
- Diligence in Venture Capital. The importance of thorough diligence in evaluating startups and their founders.
- The Influence of VCs. Good VCs can influence companies positively through advice rather than governance.
Episode highlights
- The All-In SummitThe All-In Summit is sold out with exciting parties planned, including a poker tournament and themed nights.“The world needs some good parties in my opinion.”3:31Apr 8, 2022
- Tech LayoffsMajor tech companies are facing layoffs, with Fast.com shutting down after rapid growth.“Fast was burning 10 million dollars a month.”8:44Apr 8, 2022
- Market PredictionsThe Fed is expected to increase interest rates aggressively, impacting startups' fundraising capabilities.“You have to start planning for the worst.”13:38Apr 8, 2022
- Governance in Silicon ValleyDiscussion on the lack of proper governance and its consequences in Silicon Valley.“We haven't had proper governance for a long time in Silicon Valley.”20:47Apr 8, 2022
- Diligence in Venture CapitalThe importance of thorough diligence in evaluating startups and their founders.“The easiest off-sheet references are when your own portfolio companies are using something.”29:38Apr 8, 2022
- The Influence of VCsGood VCs can influence companies positively through advice rather than governance.“The good VCs can still have that influence but it's in the form of advice.”33:32Apr 8, 2022
- Elon Musk Joins Twitter BoardElon Musk buys a 9% stake in Twitter and joins the board, emphasizing free speech.“This is fabulous!”45:06Apr 8, 2022
- Censorship on AutopilotCensorship is becoming automatic, affecting even non-controversial platforms.“Censorship is on autopilot now.”53:20Apr 8, 2022
