All-In with Chamath, Jason, Sacks & Friedberg

(0:00) Bestie intros! Gavin Baker, Ben Shapiro, and Phil Deutch join the show (7:32) GPT-5 underwhelms, benchmark saturation, OpenAI's product excellence (18:14) AI's TAM, ROIC, and energy implications (27:27) China's major advantage and how the US can counter it (43:46) Political parties picking winners, energy subsidy reversal, how the bureaucratic branch was created and how to fix it (52:38) Socialism, OBBB impact on energy, does socialism in the US rely on Mamdani in NYC? (1:10:00) Tariffs update: $125B+ revenue so far, India and Switzerland hit hard, Trump's ad hoc approach (1:27:51) Nvidia chips being smuggled to China (1:31:13) Apple's $700B in buybacks since 2015 and failing AI strategy (1:40:09) Summer reading recommendations Join us at the All-In Summit: https://allin.com/summit [https://allin.com/summit] Summit scholarship application: http://bit.ly/4kyZqFJ [http://bit.ly/4kyZqFJ] Get The Besties All-In Tequila: https://tequila.allin.com [https://tequila.allin.com] Follow Ben: https://x.com/benshapiro [https://x.com/benshapiro] Follow Gavin: https://x.com/GavinSBaker [https://x.com/GavinSBaker] Follow Phil: https://x.com/pdeutch [https://x.com/pdeutch] 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://www.bloomberg.com/news/articles/2025-08-08/openai-s-gpt-5-met-with-mixed-reviews-confusion-in-first-day [https://www.bloomberg.com/news/articles/2025-08-08/openai-s-gpt-5-met-with-mixed-reviews-confusion-in-first-day] https://www.anthropic.com/news/build-ai-in-america [https://www.anthropic.com/news/build-ai-in-america] https://www.youtube.com/watch?v=whE75zEFBpU [https://www.youtube.com/watch?v=whE75zEFBpU] https://www.census.gov/library/visualizations/time-series/demo/historic.html [https://www.census.gov/library/visualizations/time-series/demo/historic.html] https://www.justice.gov/opa/pr/two-chinese-nationals-arrested-complaint-alleging-they-illegally-shipped-china-sensitive [https://www.justice.gov/opa/pr/two-chinese-nationals-arrested-complaint-alleging-they-illegally-shipped-china-sensitive] https://www.ft.com/content/6f806f6e-61c1-4b8d-9694-90d7328a7b54 [https://www.ft.com/content/6f806f6e-61c1-4b8d-9694-90d7328a7b54]

(0:00) Bestie intros! (1:44) Recapping "Winning the AI Race" in DC: Trump's speech, best moments, key takeaways (16:39) AI Executive Orders, unbiased AI, spiciest moments (34:32) Copyright, fair use, and patents in the Age of AI (56:37) Sam Altman highlights AI chatbot privacy issues (1:02:48) Hot GDP print, Fed refuses to cut, major US-EU trade deal Join us at the All-In Summit: https://allin.com/summit [https://allin.com/summit] Summit scholarship application: http://bit.ly/4kyZqFJ [http://bit.ly/4kyZqFJ] Get The Besties All-In Tequila: https://tequila.allin.com [https://tequila.allin.com] 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://x.com/chamath/status/1950673622059667764 [https://x.com/chamath/status/1950673622059667764] https://www.newsweek.com/microsoft-layoffs-h1b-visa-applications-2094370 [https://www.newsweek.com/microsoft-layoffs-h1b-visa-applications-2094370] https://www.wsj.com/business/media/amazon-to-pay-new-york-times-at-least-20-million-a-year-in-ai-deal-66db8503 [https://www.wsj.com/business/media/amazon-to-pay-new-york-times-at-least-20-million-a-year-in-ai-deal-66db8503] https://x.com/simonw/status/1950592653047062578 [https://x.com/simonw/status/1950592653047062578] https://fred.stlouisfed.org/series/A191RL1Q225SBEA [https://fred.stlouisfed.org/series/A191RL1Q225SBEA] https://www.youtube.com/watch?v=aYn8VKW6vXA [https://www.youtube.com/watch?v=aYn8VKW6vXA] https://www.cnbc.com/2025/07/30/gdp-q2-2025-.html [https://www.cnbc.com/2025/07/30/gdp-q2-2025-.html] https://www.cnn.com/business/live-news/federal-reserve-interest-rate-07-30-25 [https://www.cnn.com/business/live-news/federal-reserve-interest-rate-07-30-25] https://www.weforum.org/stories/2025/07/the-eu-us-trade-deal-explained-eu-competitiveness [https://www.weforum.org/stories/2025/07/the-eu-us-trade-deal-explained-eu-competitiveness] https://apps.bea.gov/iTable/?reqid=19&step=3&isuri=1&1921=survey&1903=84 [https://apps.bea.gov/iTable/?reqid=19&step=3&isuri=1&1921=survey&1903=84] https://www.google.com/finance/quote/SPY:NYSEARCA [https://www.google.com/finance/quote/SPY:NYSEARCA]

(0:00) President Trump on the AI Agenda (54:14) Executive Order signing Thanks to our partners for making this happen: NYSE : https://www.nyse.com [https://www.nyse.com] Visa: https://usa.visa.com [https://usa.visa.com] 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) Scott Bessent, Treasury Secretary (17:44) Doug Burgum, Secretary of the Interior and Chris Wright, Energy Secretary (35:11) Howard Lutnick, Commerce Secretary Thanks to our partners for making this happen: NYSE : https://www.nyse.com [https://www.nyse.com] Visa: https://usa.visa.com [https://usa.visa.com] 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) James Litinsky, MP Materials (13:32) Lisa Su, AMD (29:45) Chase Lochmiller, Crusoe (43:26) Jensen Huang, Nvidia Thanks to our partners for making this happen: NYSE : https://www.nyse.com [https://www.nyse.com] Visa: https://usa.visa.com [https://usa.visa.com] 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]