All-In with Chamath, Jason, Sacks & Friedberg

Ray Dalio: Our System Is in Jeopardy - Debt, AI & the Cycle That Destroyed Rome

(0:00) Friedberg Introduces Ray Dalio (1:29) 5 Forces That Will Decide America's Future (7:26) Why Government Reform Is Nearly Impossible (11:19) Gold vs. Bitcoin (28:16) What Economists Got Wrong About Tariffs (41:11) Is America Heading Towards Collapse? Airwallex is a leading global payments and financial platform for modern businesses, offering trusted solutions to manage everything from business account, payments, treasury, and spend management to embedded finance. Check it out: https://airwallex.com/allin [https://airwallex.com/allin] Ray Dalio joins the All-In Podcast for the third time to break down why America's debt crisis is worse than most people realize, and what comes next. Dalio covers the five forces reshaping the global order, why DOGE faced structural limits, what's driving gold to all-time highs while Bitcoin stumbles, the real story behind tariffs and trade deficits, and why he believes the US might be approaching a collapse. Follow Ray Dalio: https://x.com/RayDalio [https://x.com/RayDalio] 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]

Software Stocks Implode, Claude's Hit List, State of the Union Reactions, Trump's Tariff Pivot

(0:00) Bestie intros (1:22) Claude's hit list, SaaS crash, and Citrini's AI letter (30:39) Why Doomer narratives are more popular, valuable new AI jobs (40:19) Understanding the Rate Payer Protection Pledge, what's behind datacenter opposition? (52:13) State of the Union reactions (1:03:58) Science Corner: Cure for blindness via Yamanaka Factors? (1:10:17) SCOTUS strikes down tariffs, Trump pivots Apply for Liquidity: https://allinliquidity.com [https://allinliquidity.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://www.investing.com/news/stock-market-news/wolters-kluwer-relx-shares-slip-after-anthropic-unveils-aienhanced-legal-tool-4481124 [https://www.investing.com/news/stock-market-news/wolters-kluwer-relx-shares-slip-after-anthropic-unveils-aienhanced-legal-tool-4481124] https://www.barrons.com/articles/ibm-stock-had-worst-day-in-25-years-ai-disruption-fears-5f632d6c [https://www.barrons.com/articles/ibm-stock-had-worst-day-in-25-years-ai-disruption-fears-5f632d6c] https://www.forbes.com/sites/daniellechemtob/2026/02/24/forbes-daily-ibm-suffers-its-worst-day-since-the-dot-com-bubble [https://www.forbes.com/sites/daniellechemtob/2026/02/24/forbes-daily-ibm-suffers-its-worst-day-since-the-dot-com-bubble] https://x.com/chamath/status/2027077786503164260 [https://x.com/chamath/status/2027077786503164260] https://www.citriniresearch.com/p/2028gic [https://www.citriniresearch.com/p/2028gic] https://thedefiant.io/news/tradfi-and-fintech/credit-card-stocks-fall-after-citrini-ai-report [https://thedefiant.io/news/tradfi-and-fintech/credit-card-stocks-fall-after-citrini-ai-report] https://x.com/TurnerNovak/status/2026332990914101699 [https://x.com/TurnerNovak/status/2026332990914101699] https://x.com/anistotle_/status/2026306126674108788 [https://x.com/anistotle_/status/2026306126674108788] https://www.notyourtypicalfinancebro.com/p/vibe-laundering-pt-2-citrini-the [https://www.notyourtypicalfinancebro.com/p/vibe-laundering-pt-2-citrini-the] https://www.goodreads.com/quotes/457097-nobody-knows-anything-not-one-person-in-the-entire-motion [https://www.goodreads.com/quotes/457097-nobody-knows-anything-not-one-person-in-the-entire-motion] https://www.derekthompson.org/p/nobody-knows-anything [https://www.derekthompson.org/p/nobody-knows-anything] https://x.com/kalshi/status/2027040345419129166 [https://x.com/kalshi/status/2027040345419129166] https://x.com/StockMarketNerd/status/2019837212515528730 [https://x.com/StockMarketNerd/status/2019837212515528730] https://www.citadelsecurities.com/news-and-insights/2026-global-intelligence-crisis/ [https://www.citadelsecurities.com/news-and-insights/2026-global-intelligence-crisis/] https://x.com/DavidSacks/status/2027087693327237251 [https://x.com/DavidSacks/status/2027087693327237251] https://x.com/levie/status/2026885050411745491 [https://x.com/levie/status/2026885050411745491] https://x.com/typesfast/status/2026998028222013679 [https://x.com/typesfast/status/2026998028222013679] https://x.com/cboyack/status/2021647373571862952 [https://x.com/cboyack/status/2021647373571862952] https://x.com/chamath/status/2025369318696124859 [https://x.com/chamath/status/2025369318696124859] https://x.com/pat_hedger/status/2026742424471560636 [https://x.com/pat_hedger/status/2026742424471560636] https://x.com/SemiAnalysis_/status/2026719180284666046 [https://x.com/SemiAnalysis_/status/2026719180284666046] https://x.com/WesternLensman/status/2024661247296172486 [https://x.com/WesternLensman/status/2024661247296172486] https://www.bloomberg.com/opinion/articles/2026-02-20/supreme-court-s-tariffs-ruling-finally-holds-trump-accountable [https://www.bloomberg.com/opinion/articles/2026-02-20/supreme-court-s-tariffs-ruling-finally-holds-trump-accountable] https://polymarket.com/event/will-the-court-force-trump-to-refund-tariffs-2026-06-30 [https://polymarket.com/event/will-the-court-force-trump-to-refund-tariffs-2026-06-30] https://polymarket.com/event/will-congress-pass-any-tariffs-by-march-31 [https://polymarket.com/event/will-congress-pass-any-tariffs-by-march-31]

Epstein Files Special: Prince Andrew Arrested, Global Network, Mythology, Reid Hoffman Files

(0:00) David Sacks introduces Saagar Enjeti and Michael Tracey (1:04) Reacting to the arrest of Prince Andrew in the UK, Epstein's global finance network (11:24) Who was Jeffrey Epstein, and what is this story really about? (34:10) Michael Tracey explains "Epstein Mythology" (1:14:23) Kevin Bass joins to discuss Reid Hoffman's history with Epstein (1:32:52) Michael Tracey responds to criticism Follow Saagar: https://x.com/esaagar [https://x.com/esaagar] Follow Michael: https://x.com/mtracey [https://x.com/mtracey] Follow Kevin: https://x.com/kevinnbass [https://x.com/kevinnbass] 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/kevinnbass/status/2024276079888732649 [https://x.com/kevinnbass/status/2024276079888732649] https://www.nytimes.com/live/2026/02/19/world/uk-prince-andrew-arrest-epstein [https://www.nytimes.com/live/2026/02/19/world/uk-prince-andrew-arrest-epstein] https://signalohio.org/les-wexner-deposed-by-house-oversight-committee-over-epstein-ties [https://signalohio.org/les-wexner-deposed-by-house-oversight-committee-over-epstein-ties] https://www.nytimes.com/2025/12/16/magazine/jeffrey-epstein-money-scams-investigation.html [https://www.nytimes.com/2025/12/16/magazine/jeffrey-epstein-money-scams-investigation.html] https://www.axios.com/2019/09/12/reid-hoffman-jeffrey-epstein-mit-donations [https://www.axios.com/2019/09/12/reid-hoffman-jeffrey-epstein-mit-donations] https://x.com/kevinnbass/status/2023941188588290502 [https://x.com/kevinnbass/status/2023941188588290502] https://x.com/kevinnbass/status/2024276084401828260 [https://x.com/kevinnbass/status/2024276084401828260] https://x.com/kevinnbass/status/2023941213951512966 [https://x.com/kevinnbass/status/2023941213951512966] https://x.com/presentwitness_/status/2024522531542356447 [https://x.com/presentwitness_/status/2024522531542356447]

Debt Spiral or NEW Golden Age? Super Bowl Insider Trading, Booming Token Budgets, Ferrari's New EV

(0:00) Bestie intros (0:23) AI updates: On-prem comeback, token budgets surpass salaries (19:19) Prediction markets: Super Bowl insider trading, how to police? (28:44) All-In Liquidity: The ultimate investor conference (32:48) CBO report: Death spiral, growth opportunity, or golden age? (48:06) State of the economy and US jobs (1:03:22) Ferrari's fully electric car goes viral Apply for Liquidity: https://allinliquidity.com [https://allinliquidity.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://hbr.org/2026/02/ai-doesnt-reduce-work-it-intensifies-it?ab=HP-latest-text-3 [https://hbr.org/2026/02/ai-doesnt-reduce-work-it-intensifies-it?ab=HP-latest-text-3] https://x.com/mattshumer_/status/2021256989876109403 [https://x.com/mattshumer_/status/2021256989876109403] https://x.com/Jason/status/2021272988100984862 [https://x.com/Jason/status/2021272988100984862] https://x.com/chamath/status/2022009107964899755 [https://x.com/chamath/status/2022009107964899755] https://x.com/chamath/status/2021991383327027322 [https://x.com/chamath/status/2021991383327027322] https://lobstertank.co/?v=1 [https://lobstertank.co/?v=1] https://www.cbo.gov/system/files/2026-02/61882-Executive-Summary.pdf [https://www.cbo.gov/system/files/2026-02/61882-Executive-Summary.pdf] https://www.covers.com/industry/prediction-markets-sportsbooks-super-bowl-nevadabetting-handle-february-2026 [https://www.covers.com/industry/prediction-markets-sportsbooks-super-bowl-nevadabetting-handle-february-2026] https://defirate.com/news/insider-trading-claims-hit-super-bowl-prediction-markets/ [https://defirate.com/news/insider-trading-claims-hit-super-bowl-prediction-markets/] https://www.wsj.com/world/middle-east/israeli-soldiers-accused-of-using-polymarket-to-bet-on-strikes-72d53012 [https://www.wsj.com/world/middle-east/israeli-soldiers-accused-of-using-polymarket-to-bet-on-strikes-72d53012] https://www.youtube.com/watch?v=SzuvVcH2amc [https://www.youtube.com/watch?v=SzuvVcH2amc] https://www.cbo.gov/system/files/2026-02/61882-Executive-Summary.pdf [https://www.cbo.gov/system/files/2026-02/61882-Executive-Summary.pdf] https://fred.stlouisfed.org/series/FYONGDA188S [https://fred.stlouisfed.org/series/FYONGDA188S] https://fred.stlouisfed.org/series/FYFRGDA188S [https://fred.stlouisfed.org/series/FYFRGDA188S] https://x.com/RealEJAntoni/status/2021608233866027065 [https://x.com/RealEJAntoni/status/2021608233866027065] https://www.ice.gov/news/releases/asplundh-tree-experts-co-pays-largest-civil-settlement-agreement-ever-levied-ice [https://www.ice.gov/news/releases/asplundh-tree-experts-co-pays-largest-civil-settlement-agreement-ever-levied-ice] https://www.justice.gov/usao-edpa/pr/asplundh-tree-expert-co-charged-recruiting-hiring-and-employing-unauthorized-aliens [https://www.justice.gov/usao-edpa/pr/asplundh-tree-expert-co-charged-recruiting-hiring-and-employing-unauthorized-aliens] https://www.nbcnews.com/news/us-news/tree-company-pay-record-fine-immigration-practices-n805756 [https://www.nbcnews.com/news/us-news/tree-company-pay-record-fine-immigration-practices-n805756] https://www.kff.org/racial-equity-and-health-policy/kff-la-times-survey-of-immigrants/#d53efe98-31a4-48f1-944f-b1b1aff36c06 [https://www.kff.org/racial-equity-and-health-policy/kff-la-times-survey-of-immigrants/#d53efe98-31a4-48f1-944f-b1b1aff36c06]

CZ's Untold Story: The Rise, Fall, and Redemption of Binance's Founder

(0:00) From China to Canada (6:13) CZ's Early Career: Shockingly Normal (17:39) First Company in Shanghai (23:08) Discovering Bitcoin (30:11) Going All-In on Crypto (41:27) Founding Binance (1:03:57) The FTX Story: SBF Relationship and Collapse (1:09:46) Facing Biden's Anti-Crypto DOJ (1:25:25) Inside Federal Prison (1:40:10) Life After Binance and New Ventures Follow CZ: https://x.com/cz_binance [https://x.com/cz_binance] 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]