E89: GDP growth negative in Q2, $SHOP layoffs, Alzheimer's fraud, Ginkgo acquires Zymergen & more
- Jul 28, 2022
- 1:27:55
- Full Episode
Show Notes: 0:00 Bestie intros! 2:19 GDP growth is negative for a second consecutive quarter, but is the US actually in a recession? How has the White House controlled the narrative? 22:45 Looking at COVID trends with a post-COVID view: e-commerce, remote work, and how they correlate 36:33 "Inflation Reduction Act", how government subsidies can stifle innovation 59:50 Alzheimer's fraud, Ginkgo acquires Zymergen for $300M 1:17:36 Democrats backing MAGA candidates in primaries vs. more moderate republicans: savvy and cynical or too risky?
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.bea.gov/news/2022/gross-domestic-product-second-quarter-2022-advance-estimate#:~:text=Real%20gross%20domestic%20product%20 https://news.shopify.com/changes-to-shopifys-team https://www.google.com/finance/quote/TDOC:NYSE https://www.wsj.com/articles/whats-in-joe-manchin-and-chuck-schumers-reconciliation-deal-on-climate-health-and-tax-policy-11658973323 https://twitter.com/jamiedupree/status/1552406981637545993 https://www.nytimes.com/2022/07/24/world/africa/congo-oil-gas-auction.html https://www.science.org/content/article/potential-fabrication-research-images-threatens-key-theory-alzheimers-disease https://www.nature.com/articles/s41380-022-01661-0 https://www.pharmaceutical-technology.com/news/ginkgo-acquire-zymergen/ https://www.nytimes.com/2022/07/26/us/politics/democrats-john-gibbs-peter-meijer.html https://twitter.com/ConanOBrien/status/1552358211986006019 https://twitter.com/maga_cy/status/1552360064693915648
Brief Summary
The episode analyzes economic trends, recession definitions, and government spending impacts with guests David Sacks, Chamath Palihapitiya, and David Friedberg.
Key points
- Defining Recession. A debate on the changing definitions of recession in political contexts.
- CEO's Honest Admission. A CEO takes responsibility for a miscalculated bet on market behavior.
- Zuckerberg's Ultimatum. Zuckerberg expresses frustration over underperformance and suggests firing non-performers.
- The Rise of Telehealth. Telehealth usage surged during COVID, with significant adoption rates among women.
- Ghost Quitting Explained. Ghost quitting is when employees do the bare minimum to avoid being fired.
- The Ugly Reality of Fossil Fuels. Despite the push for energy independence, we remain heavily reliant on fossil fuels.
Episode highlights
- Defining RecessionA debate on the changing definitions of recession in political contexts.“The big news this morning is that we no longer know what a recession is.”6:26Jul 28, 2022
- CEO's Honest AdmissionA CEO takes responsibility for a miscalculated bet on market behavior.“I made a huge bet that all of this behavior changed was going to be discontinuous and permanent.”20:40Jul 28, 2022
- Zuckerberg's UltimatumZuckerberg expresses frustration over underperformance and suggests firing non-performers.“If people are not performing at a high level, maybe they shouldn't be here.”22:28Jul 28, 2022
- The Rise of TelehealthTelehealth usage surged during COVID, with significant adoption rates among women.“36% of patients used a telehealth service in 2021, a 420% increase over 2019.”24:17Jul 28, 2022
- Ghost Quitting ExplainedGhost quitting is when employees do the bare minimum to avoid being fired.“You basically get off the corporate rat race by doing the bare minimum.”29:11Jul 28, 2022
- The Ugly Reality of Fossil FuelsDespite the push for energy independence, we remain heavily reliant on fossil fuels.“We are dependent on fossil fuels for a very long time.”41:39Jul 28, 2022
- The Future of EV AdoptionWith EVs crossing the 5% adoption mark, the transition to electric is gaining momentum.“The best thing about EV adoption is never having to go to the gas station.”46:58Jul 28, 2022
- Ingenuity Over Government SolutionsThe speaker emphasizes that human ingenuity is the key to solving problems, not government handouts.“The biggest solution to our problems is our ingenuity.”50:00Jul 28, 2022
