All-In with Chamath, Jason, Sacks & Friedberg

(0:00) Jensen Huang joins the show!
(0:26) Acquiring Groq and the inference explosion
(8:53) Decision making at the world's most valuable company
(10:47) Physical AI's $50T market, OpenClaw's future, the new operating system for modern AI computing
(16:38) AI's PR crisis, refuting doomer narratives, Anthropic's comms mistakes
(20:48) Revenue capacity, token allocation for employees, Karpathy's autoresearch, agentic future
(30:50) Open source, global diffusion, Iran/Taiwan supply chain impact
(39:45) Self-driving platform, facing competition from active customers, responding to growth slowdown predictions
(47:32) Datacenters in space, AI healthcare, Robotics
(56:10) OpenAI/Anthropic revenue potential, how to build an AI moat
(59:04) Advice to young people on excelling in the AI era
Follow the besties:
https://x.com/chamath
https://x.com/Jason
https://x.com/DavidSacks
https://x.com/friedberg
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Intro Music Credit:
https://rb.gy/tppkzl
https://x.com/yung_spielburg
Intro Video Credit:
https://x.com/TheZachEffect

(0:00) David Friedberg welcomes Senator John Fetterman; SAVE Act thoughts
(1:08) The broken Democratic Party: TDS, what he stands for, why the party changed, losing bipartisanship, popularity with Republicans
(11:42) Iran exit strategy, NATO allies bail on the US
(17:42) Israel's influence, AIPAC, growing anti-Israel sentiment
(20:16) SAVE Act, why he supports voter ID but not this bill, election fraud
(26:41) Government shutdown, red lines with ICE and immigration, birthright citizenship, why Biden opened the border
(32:49) Debt death spiral, government fraud
(37:38) Why he's still a Democrat, national wealth tax, anti-AI sentiment, state of agriculture
Follow Sen. Fetterman:
https://x.com/SenFettermanPA
Follow the besties:
https://x.com/chamath
https://x.com/Jason
https://x.com/DavidSacks
https://x.com/friedberg
Follow on X:
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Follow on Instagram:
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Intro Music Credit
https://rb.gy/tppkzl
https://x.com/yung_spielburg
Intro Video Credit:
https://x.com/TheZachEffect

(0:00) Travis Kalanick: Officially exiting stealth mode, what he's been working on
(5:52) How to automate the physical world, markets to go after
(11:00) Return to self-driving: Tesla, Waymo, and the autonomous race
(16:17) Leaving Los Angeles for Austin, the decline of truth and justice in California
(25:51) Actuators, robot hands, "Capital as a weapon," Middle East SWF impacted by Iran War
(36:00) Michael Dell: Dorm room to $140B in annual revenue, why Texas attracts founders
(43:46) Dell's $50B AI infrastructure bet
(1:03:50) Invest America: Michael Dell's $6.25B gift - A 401k from birth for 25M kids
This podcast was recorded LIVE at Arena Hall in Austin, Texas.
Thanks to our partners for making this event possible!:
EY:
Austin vibes meet AI innovation. Thanks to EY for co‑hosting with us at #SXSW.
Discover what executives are saying about AI transformation in the latest AI Pulse Survey.
https://ey.com/en_us/insights/emerging-technologies/pulse-ai-survey
Forge Global:
We're proud to highlight our partners at Forge Global, who are helping the world's most innovative private companies and their teams gain #liquidcourage on their terms.
Learn more here: https://forgeglobal.com/who-we-serve/private-companies/
De'Longhi
Athena
Polymarket

(0:00) The Besties welcome Brad Gerstner!
(3:48) Economic fallout of the Iran War, escalation scenarios, impact on midterms
(19:18) Off ramp strategies, Gulf state involvement, the China angle
(27:05) Anthropic and OpenAI scaling revenue faster than any company ever
(46:11) AI's PR disaster, open source's future
(1:07:51) Washington passes "Millionaire Tax," Howard Schultz bails for Miami
Follow Brad:
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Take the survey:
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Apply for Liquidity:
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Apply for Summit:
https://theallinsummit.com
Follow the besties:
https://x.com/chamath
https://x.com/Jason
https://x.com/DavidSacks
https://x.com/friedberg
Follow on X:
https://x.com/theallinpod
Follow on Instagram:
https://www.tiktok.com/@theallinpod
Follow on LinkedIn:
https://www.linkedin.com/company/allinpod
Intro Music Credit:
https://rb.gy/tppkzl
https://x.com/yung_spielburg
Intro Video Credit:
https://x.com/TheZachEffect
Referenced in the show:
https://www.google.com/finance/quote/BZW00:NYMEX
https://www.cnbc.com/2026/03/11/cargo-ship-struck-strait-of-hormuz-uk-iran-war.html
https://www.cnn.com/world/live-news/iran-war-us-israel-trump-03-12-26?post-id=cmmnhwyod000l3b6wdinc1dw5
https://www.wsj.com/world/middle-east/ending-iran-war-quickly-carries-big-risks-for-the-u-s-and-allies-60c003de
https://polymarket.com/event/us-forces-enter-iran-by
https://x.com/altcap/status/2029223717356879931
https://www.wsj.com/business/energy-oil/iea-proposes-largest-ever-oil-release-from-strategic-reserves-275f4e5c
https://www.wsj.com/opinion/iran-war-oil-operation-epic-fury-mojtaba-khamenei-0d2edb9c
https://www.cnn.com/world/live-news/iran-war-us-israel-trump-03-12-26
https://x.com/sentdefender/status/2031827082934665293
https://polymarket.com/event/balance-of-power-2026-midterms
https://polymarket.com/event/march-inflation-us-annual
https://www.ft.com/content/7cab4ec7-4712-4137-b602-119a44f771de
https://www.axios.com/2025/05/28/ai-jobs-white-collar-unemployment-anthropic
https://www.axios.com/2026/03/06/pentagon-anthropic-amodei-apology
https://www.ft.com/content/97bda2ef-fc06-40b3-a867-f61a711b148b
https://x.com/WallStreetMav/status/2032115119879045512
https://x.com/TheChiefNerd/status/2032012809433723158
https://www.nbcnews.com/politics/politics-news/poll-majority-voters-say-risks-ai-outweigh-benefits-rcna262196
https://hai.stanford.edu/news/most-read-the-stanford-hai-stories-that-defined-ai-in-2025
https://x.com/DrTechlash/status/2030734402339365220
https://www.semafor.com/article/12/07/2025/ai-critics-funded-ai-coverage-at-top-newsrooms
https://www.cbsnews.com/news/howard-schultz-starbucks-ceo-leaving-seattle-washington-millionaire-tax/
https://www.politico.com/story/2019/02/13/howard-schultz-2020-taxes-1167363
https://x.com/chamath/status/2032135944284094910
https://www.hoover.org/research/net-present-value-billionaire-tax-act-assessment-fiscal-effects-californias-proposed
https://www.visualcapitalist.com/mapped-which-u-s-states-gained-the-most-residents-in-2025
https://www.sanders.senate.gov/press-releases/news-sanders-and-khanna-introduce-legislation-to-tax-billionaire-wealth-and-invest-in-working-families

(0:00) Jason and Chamath welcome SEC's Paul Atkins and CFTC's Michael Selig
(0:53) Atkins on how US markets have changed over his 40 year career
(3:04) Top priorities across both agencies: Fixing the IPO drought, crypto regulation, cutting unnecessary rules
(8:16) AI trading bots, autonomous hedge funds, and investing with leverage
(15:30) Ending the "Turf War" between the SEC and CFTC, super app vision
(19:15) Prediction markets, insider trading, gray area
(26:56) Trump advocates for changing quarterly earnings to bi-annual
(30:30) Changing the accreditation rules a priority for 2026
(34:56) HFT firms that dominate the futures markets, swap reporting
(40:36) VC fund formation
(46:18) US markets vs the world, crypto classification
(52:54) Biggest risks: Market manipulation, crypto scams, and the Gen Z gambling crisis
 
SEC Chair Paul Atkins:
https://x.com/SECPaulSAtkins
CFTC Chair Michael Selig:
https://x.com/ChairmanSelig
Follow the besties:
https://x.com/chamath
https://x.com/Jason
https://x.com/DavidSacks
https://x.com/friedberg
Follow on X:
https://x.com/theallinpod
Follow on Instagram:
https://www.instagram.com/theallinpod
Follow on TikTok:
https://www.tiktok.com/@theallinpod
Follow on LinkedIn:
https://www.linkedin.com/company/allinpod
Intro Music Credit:
https://rb.gy/tppkzl
https://x.com/yung_spielburg
Intro Video Credit:
https://x.com/TheZachEffect