all-in
Chamath, Jason, Sacks & Friedberg. Weekly conversations about tech, markets, politics. Trades are attributed to the speaker who made the call.
Speakers
Recent episodes
The Trillion-Dollar Industries AI Is Disrupting: Voice, Law & the End of the Billable Hour
youtube/Jul 14
"We've never seen anything like this." - Brad Gerstner on Anthropic's Historic Revenue Ramp
youtube/Jul 11
More Trillion Dollar IPOs, Anthropic $3T, Zuck's Price War, China Ends Open Source?, Trump Accounts
youtube/Jul 11
Open Source Wins, AGI Is Here, and Scorsese’s AI Toolkit with CEOs of Cerebras & Black Forest Labs
youtube/Jul 10
Don't trust OpenAI. Use your own models.
youtube/Jul 4
AI Sovereignty Wars, Palantir-Nvidia Deal, SCOTUS Birthright Ruling, Newsom’s CA Budget Lie
youtube/Jul 3
$50B Fund Manager Breaks Down SpaceX’s Soaring Valuation
youtube/Jul 2
Nate Silver Predicts: Democrats Take the House, Newsom Is Fading & AOC Might Win It All in 2028
youtube/Jun 29
Latest calls
TRI/short/@jason
Legacy legal research duopoly is getting crushed as AI-native rivals eat their data moat
Westlaw and LexisNexis, exactly. But yeah, if you look at how their stock is doing, I think—
Peak+5.3%
RELX/short/@max-junestrand
AI does the billable legal work, so the paid legal-research toll booth that rode those hours loses its base.
There's a lot of anxiety and a lot of fear. And these law firms are enormously profitable and big businesses. Kirkland Ellis turns around $10 billion a year.
Peak+3.4%
VRSK/short/@max-junestrand
AI commoditizes proprietary data, so data-moat incumbents lose their premium and re-rate lower.
at the outset of AI, many believed and made a bet that those organizations who had all the data was gonna be the winners. As we're starting to see in the market, that's no longer the case.
Peak+3.1%
GOOGL/long/@chamath
AI's frontier labs are riding the biggest market ever seen, revenue set to triple or more next year
If these guys end the year over $100 billion, I think that they're on a revenue trajectory that they could 3 to 5x again next year. We've never seen anything like this. Never.
Peak+2.1%
SPCX/long/@altcap
SpaceX at $2T still has room to run, a durable compounder growing revenue over 30% a year.
the SpaceX IPO where we were also investors and we also bought in the IPO, I mean, it was textbook. It was a hugely successful IPO. They raised $75 billion at $1.75 trillion.
Peak+0.1%
TAO/long/@jason
Bittensor gives cheap distributed AI inference, cutting token costs 95% and unlocking massive usage.
I talked a little bit about Bitsensor on the program known as TAO, $TAO. It's a crypto project. Somebody who is creating a subnet that is putting GLM 5.2 and other models available at really cheap prices.
Peak+1.2%
PLTR/short/@chamath
AI token costs explode while enterprise ROI sits at 0-2%; the richest AI-software multiple re-rates down.
Our token costs are doubling every 45 days... My upside is essentially flat... you need to use a lot more tokens to get to this next iteration of improvement because we've effectively already asymptoted.
Peak+3.1%
MSFT/long/@altcap
OpenAI can IPO over $1T on renewed momentum, but likely goes public after Anthropic.
OpenAI's kind of got its swagger and mojo back. It's coming out just today with a whole new set of models... revenue has really ticked back up. The most recent kind of rumors I see on Twitter is around $70 billion next year.
Peak+2.4%
AMZN/long/@altcap
Anthropic IPO will be a blockbuster, buyable at scale even near $3T on triple-digit revenue growth.
If they exit the year at $100 billion, that means their GAAP revenue next year could be well over $100 billion. So based on the SpaceX success, I think it would be a blockbuster IPO.
Peak+3.3%
URNM/long/@chamath
The energy shortage, not chips or software, becomes the binding constraint on US AI growth.
the throttle, paradoxically to all of this, might not be the software, might not be the chips, it might be energy.
Peak+0.0%