All-In with Chamath, Jason, Sacks & Friedberg

(0:00) Bestie intros! (1:53) EA acquired for $55B in biggest LBO ever, why PE is in trouble (17:42) IPO market, SPAC 2.0 (27:41) The AI rollup opportunity (36:01) Sacks joins the show! (38:27) OpenAI and Meta launch short-form video apps: "AI Slop" or the future of content? (45:04) Open source AI: DeepSeek's new model, pressure on US AI industry (1:05:11) State AI regulation frenzy: States' rights vs Federal control, overregulation Follow the besties: https://x.com/chamath [https://x.com/chamath] https://x.com/Jason [https://x.com/Jason] https://x.com/DavidSacks [https://x.com/DavidSacks] https://x.com/friedberg [https://x.com/friedberg] Follow on X: https://x.com/theallinpod [https://x.com/theallinpod] Follow on Instagram: https://www.instagram.com/theallinpod [https://www.instagram.com/theallinpod] Follow on TikTok: https://www.tiktok.com/@theallinpod [https://www.tiktok.com/@theallinpod] Follow on LinkedIn: https://www.linkedin.com/company/allinpod [https://www.linkedin.com/company/allinpod] Intro Music Credit: https://rb.gy/tppkzl [https://rb.gy/tppkzl] https://x.com/yung_spielburg [https://x.com/yung_spielburg] Intro Video Credit: https://x.com/TheZachEffect [https://x.com/TheZachEffect] Referenced in the show: https://apnews.com/article/ea-electronic-arts-video-game-silver-lake-pif-d17dc7dd3412a990d2c0a6758aaa6900 [https://apnews.com/article/ea-electronic-arts-video-game-silver-lake-pif-d17dc7dd3412a990d2c0a6758aaa6900] https://www.ign.com/articles/xbox-game-pass-ultimate-price-rises-to-30-a-month-microsoft-adds-more-day-one-games-and-throws-in-fortnite-crew-and-ubisoft-classics-to-help-justify-the-cost [https://www.ign.com/articles/xbox-game-pass-ultimate-price-rises-to-30-a-month-microsoft-adds-more-day-one-games-and-throws-in-fortnite-crew-and-ubisoft-classics-to-help-justify-the-cost] https://x.com/Jason/status/1973461806585966655 [https://x.com/Jason/status/1973461806585966655] https://www.npr.org/2025/09/05/nx-s1-5529404/anthropic-settlement-authors-copyright-ai [https://www.npr.org/2025/09/05/nx-s1-5529404/anthropic-settlement-authors-copyright-ai] https://x.com/scaling01/status/1972650237266465214 [https://x.com/scaling01/status/1972650237266465214] https://www.insidetechlaw.com/blog/2025/09/californias-transparency-in-frontier-artificial-intelligence-act [https://www.insidetechlaw.com/blog/2025/09/californias-transparency-in-frontier-artificial-intelligence-act] https://www.datacenterdynamics.com/en/news/google-withdraws-rezoning-proposal-for-468-acre-data-center-project-in-franklin-township-indianapolis [https://www.datacenterdynamics.com/en/news/google-withdraws-rezoning-proposal-for-468-acre-data-center-project-in-franklin-township-indianapolis]

(0:00) Chamath and Jason welcome Rep. Ro Khanna! (1:10) H-1Bs and immigration (8:40) Giving Trump credit as a Progressive Democrat, why bipartisanship is broken, future Democratic leaders (15:08) Tech industry: Can Democrats win back tech?; Economic patriotism, protection vs proliferation of AI (24:25) Government shutdown, what actually happens? (30:25) Extreme rhetoric: Importance of dialing this down (36:29) Censorship and lawfare on both sides (40:32) Crime issues in major cities, why Democrats are losing on safety, common sense solutions (47:46) Mamdani's surge: is Zohran the future of the party? (51:15) Congressional stock trading ban Follow Ro Khanna: https://x.com/rokhanna [https://x.com/rokhanna] Follow the besties: https://x.com/chamath [https://x.com/chamath] https://x.com/Jason [https://x.com/Jason] https://x.com/DavidSacks [https://x.com/DavidSacks] https://x.com/friedberg [https://x.com/friedberg] Follow on X: https://x.com/theallinpod [https://x.com/theallinpod] Follow on Instagram: https://www.instagram.com/theallinpod [https://www.instagram.com/theallinpod] Follow on TikTok: https://www.tiktok.com/@theallinpod [https://www.tiktok.com/@theallinpod] Follow on LinkedIn: https://www.linkedin.com/company/allinpod [https://www.linkedin.com/company/allinpod] Intro Music Credit: https://rb.gy/tppkzl [https://rb.gy/tppkzl] https://x.com/yung_spielburg [https://x.com/yung_spielburg] Intro Video Credit: https://x.com/TheZachEffect [https://x.com/TheZachEffect]

(0:00) Introducing Kyle Samani (1:07) History of modern capital markets (3:25) What a redesigned capital market structure would look like in 2025 (8:22) Examples of the future of internet capital markets Thanks to our partners for making this happen! Solana - Solana is the high performance network powering internet capital markets, payments, and crypto applications. Connect with investors, crypto founders, and entrepreneurs at Solana’s global flagship event during Abu Dhabi Finance Week & F1: https://solana.com/breakpoint [https://solana.com/breakpoint] OKX - The new way to build your crypto portfolio and use it in daily life. We call it the new money app. https://www.okx.com/ [https://www.okx.com/] Google Cloud - The next generation of unicorns is building on Google Cloud's industry-leading, fully integrated AI stack: infrastructure, platform, models, agents, and data. https://cloud.google.com/ [https://cloud.google.com/] IREN - IREN AI Cloud, powered by NVIDIA GPUs, provides the scale, performance, and reliability to accelerate your AI journey. https://iren.com/ [https://iren.com/] Oracle - Step into the future of enterprise productivity at Oracle AI Experience Live. https://www.oracle.com/artificial-intelligence/data-ai-events/ [https://www.oracle.com/artificial-intelligence/data-ai-events/] Circle - The America-based company behind USDC — a fully-reserved, enterprise-grade stablecoin at the core of the emerging internet financial system. https://www.circle.com/ [https://www.circle.com/] BVNK - Building stablecoin-powered financial infrastructure that helps businesses send, store, and spend value instantly, anywhere in the world. https://www.bvnk.com/ [https://www.bvnk.com/] Polymarket - https://www.polymarket.com/ [https://www.polymarket.com/] Follow Kyle: https://x.com/KyleSamani [https://x.com/KyleSamani] Follow the besties: https://x.com/chamath [https://x.com/chamath] https://x.com/Jason [https://x.com/Jason] https://x.com/DavidSacks [https://x.com/DavidSacks] https://x.com/friedberg [https://x.com/friedberg] Follow on X: https://x.com/theallinpod [https://x.com/theallinpod] Follow on Instagram: https://www.instagram.com/theallinpod [https://www.instagram.com/theallinpod] Follow on TikTok: https://www.tiktok.com/@theallinpod [https://www.tiktok.com/@theallinpod] Follow on LinkedIn: https://www.linkedin.com/company/allinpod [https://www.linkedin.com/company/allinpod] Intro Music Credit: https://rb.gy/tppkzl [https://rb.gy/tppkzl] https://x.com/yung_spielburg [https://x.com/yung_spielburg]

(0:00) Introducing Rick Caruso (1:03) Reflecting on the disastrous LA Wildfires: Karen Bass failure, saving the Palisades Village, failure to rebuild (11:20) California’s incompetence, running for CA Governor vs LA Mayor (14:21) Attention to detail (17:04) State of California: What it should be, homelessness, National Guard, policing Thanks to our partners for making this happen! Solana - Solana is the high performance network powering internet capital markets, payments, and crypto applications. Connect with investors, crypto founders, and entrepreneurs at Solana’s global flagship event during Abu Dhabi Finance Week & F1: https://solana.com/breakpoint [https://solana.com/breakpoint] OKX - The new way to build your crypto portfolio and use it in daily life. We call it the new money app. https://www.okx.com/ [https://www.okx.com/] Google Cloud - The next generation of unicorns is building on Google Cloud's industry-leading, fully integrated AI stack: infrastructure, platform, models, agents, and data. https://cloud.google.com/ [https://cloud.google.com/] IREN - IREN AI Cloud, powered by NVIDIA GPUs, provides the scale, performance, and reliability to accelerate your AI journey. https://iren.com/ [https://iren.com/] Oracle - Step into the future of enterprise productivity at Oracle AI Experience Live. https://www.oracle.com/artificial-intelligence/data-ai-events/ [https://www.oracle.com/artificial-intelligence/data-ai-events/] Circle - The America-based company behind USDC — a fully-reserved, enterprise-grade stablecoin at the core of the emerging internet financial system. https://www.circle.com/ [https://www.circle.com/] BVNK - Building stablecoin-powered financial infrastructure that helps businesses send, store, and spend value instantly, anywhere in the world. https://www.bvnk.com/ [https://www.bvnk.com/] Polymarket - https://www.polymarket.com/ [https://www.polymarket.com/] Follow Rick Caruso: https://x.com/RickCarusoLA [https://x.com/RickCarusoLA] Follow the besties: https://x.com/chamath [https://x.com/chamath] https://x.com/Jason [https://x.com/Jason] https://x.com/DavidSacks [https://x.com/DavidSacks] https://x.com/friedberg [https://x.com/friedberg] Follow on X: https://x.com/theallinpod [https://x.com/theallinpod] Follow on Instagram: https://www.instagram.com/theallinpod [https://www.instagram.com/theallinpod] Follow on TikTok: https://www.tiktok.com/@theallinpod [https://www.tiktok.com/@theallinpod] Follow on LinkedIn: https://www.linkedin.com/company/allinpod [https://www.linkedin.com/company/allinpod] Intro Music Credit: https://rb.gy/tppkzl [https://rb.gy/tppkzl] https://x.com/yung_spielburg [https://x.com/yung_spielburg]

(0:00) Introducing Arm CEO Rene Haas (1:08) Lessons from working with Jensen Huang (3:20) Arm’s history, understanding Nvidia’s dominance in AI, training vs inference, physical AI market size (10:01) China’s AI ecosystem, the US-Intel deal, rare earths, creating a US “national champion” (15:35) Manufacturing in America: how to create a culture of excellence? (18:34) US export controls, building in the UK (23:42) US-China AI arms race Thanks to our partners for making this happen! Solana - Solana is the high performance network powering internet capital markets, payments, and crypto applications. Connect with investors, crypto founders, and entrepreneurs at Solana’s global flagship event during Abu Dhabi Finance Week & F1: https://solana.com/breakpoint [https://solana.com/breakpoint] OKX - The new way to build your crypto portfolio and use it in daily life. We call it the new money app. https://www.okx.com/ [https://www.okx.com/] Google Cloud - The next generation of unicorns is building on Google Cloud's industry-leading, fully integrated AI stack: infrastructure, platform, models, agents, and data. https://cloud.google.com/ [https://cloud.google.com/] IREN - IREN AI Cloud, powered by NVIDIA GPUs, provides the scale, performance, and reliability to accelerate your AI journey. https://iren.com/ [https://iren.com/] Oracle - Step into the future of enterprise productivity at Oracle AI Experience Live. https://www.oracle.com/artificial-intelligence/data-ai-events/ [https://www.oracle.com/artificial-intelligence/data-ai-events/] Circle - The America-based company behind USDC — a fully-reserved, enterprise-grade stablecoin at the core of the emerging internet financial system. https://www.circle.com/ [https://www.circle.com/] BVNK - Building stablecoin-powered financial infrastructure that helps businesses send, store, and spend value instantly, anywhere in the world. https://www.bvnk.com/ [https://www.bvnk.com/] Polymarket: https://www.polymarket.com [https://www.polymarket.com] Follow Rene: https://x.com/renehaas237 [https://x.com/renehaas237] Follow the besties: https://x.com/chamath [https://x.com/chamath] https://x.com/Jason [https://x.com/Jason] https://x.com/DavidSacks [https://x.com/DavidSacks] https://x.com/friedberg [https://x.com/friedberg] Follow on X: https://x.com/theallinpod [https://x.com/theallinpod] Follow on Instagram: https://www.instagram.com/theallinpod [https://www.instagram.com/theallinpod] Follow on TikTok: https://www.tiktok.com/@theallinpod [https://www.tiktok.com/@theallinpod] Follow on LinkedIn: https://www.linkedin.com/company/allinpod [https://www.linkedin.com/company/allinpod] Intro Music Credit: https://rb.gy/tppkzl [https://rb.gy/tppkzl] https://x.com/yung_spielburg [https://x.com/yung_spielburg]