Comments

You can breakdown every Chamath rant to “everyone is stupid”

We need a compilation of Friedberg explaining scientific and other things.

No Epstein is crazy

Friedberg is a legend! Fiscal conservative and science guy! Love it! My idol!

Jason .... you missed the amount the Universities are charging, that's the big reason the student loans are so huge.

I love Friedberg. He is concise and knowledgeable and always on point. I’m surprised he doesn’t get more acknowledgement from the besties.

Friedberg just mic dropped on Burry

Too much respect for David Friedberg & the way he explains science stuff so eloquently

Try going to south korea on an improper visa and see what happens.

10:15 Chamath talking about immoral acts in the stock market is peak hypocrisy 👌

Extra thanks for your continued podcasts. You have the best weekly wrap and interviews are top for finance pods.

Does implementing 50 year mortgages lower the cost of housing? If it doesn't then it's a bad policy. Does forgiving loans make the price of college go down? If it doesn't then it's a bad policy.

Telling people that if they can't afford to live in their hometown then "that's a you problem" is not going to go over well. If we can't afford to live in the city we were born, in the place we grew up, and if there are millions of us that all fit that category then no that's not a "you problem" it's something systemically wrong. It means we've been disenfranchised and telling us to all what, leave the country? No thanks. The height of privilege coming from a guy like Shapiro to say that stuff.

Student loan forgiveness isn’t a solution. Student loans should all be private and all be bankrupt-able. A bank wouldn’t give a loan to an arts major if they didn’t believe the degree would pay it back. As of now, there’s moral hazard for banks since it’s non-bankrupt-able, and with loan forgiveness there’s moral hazard with the borrower. With the government handing out loans, the public is financing loans that don’t make sense. This only increases demand for degrees that don’t make sense.

CNBC did this in 2023 for Burry’s put option similarly. They knew what they were doing. Saying 9 million vs 900 million it’s clickbait more than they did not know.

Well, now I do think these 7 companies are cooking the books.

I was FASCINATED by Friedberg’s explanation of the geomagnetic storm Please put out a short on this segment. THANK YOU❣️

Student loan forgiveness is a gift to the colleges!

never attribute to malice what you can reasonably attribute to stupidity

The vast majority of folks unable to buy homes aren't both working and earning 60K a year. They're probably making half that!

Loved the science corner segment. Thank you

Wow and their whole affordability of housing talk they don't bring up private equity owning 40% of the homes in the country once.

Get the South Korea story right. The Koreans cheated. Not the workers, but the company. Jason always has half the story.

I have not heard anyone talk about corporate buying thousands and thousands of houses that the average home buyer would have had access to. Supply and demand. When someone buys 20,000 houses in your market, it might exacerbate a supply shortage. Just a thought

"France is a country" took me out!!! 😂😂😂

6:28 Friedburg’s accounting corner on deprecation principles was a masterclass. Keep it up folks!

The only real solution to student debt is to eliminate government subsidizing altogether just placing the first $20,000 in the lap of the institution will only increase the tuition of each student by that amount. No subsidies and allow students to file for bankruptcy and then all of this just goes away.

H1-B need to be fixed. There are certain high skills that need to be brought in. If a genius is going to make a big impact, it is OK to pay a million for him/her when their impact is in the billions. However, there are many jobs (especially in tech) we Americans can perform. These jobs need to be given priority to Americans. e.g. Do we need a H1B people to write basic programs or be a project manager? Don't we have have kids graduating from our colleges that can perform these tasks? We need to protect basic jobs for American and also bring in the top talent from the world.

Great to have Friedberg back. You reaaally notice his absence when he misses an episode. Really balances out the show.

Chamath’s take on shorts is spot on.

Thanks for the show.

As it relates to the H1B discussion, one thing these VC types almost never discuss, is the cultural impact recent arrivals have on the local population. Some populations are easier to integrate than others. When a large number of people immigrate somewhere so quickly, and they bring their foreign language, their foreign religion, and show no interest in assimilating, you get major issues.. I think that's part of why there's such a huge backlash to all immigration now. I think most Americans would accept not being the "best in the world" in some categories if it meant having a community they're comfortable living in. Most of the USA isn't New York city yet many cities have been getting New York style immigration and people are feeling it now and they're upset.

Palantir is so unique, that no one can actually explain what it is they do

Thanks, Dave for the science corner

Small question, but if a company buys an amazing boat that catches 1'000 tonnes of fishes a week for 100 mn and after 3 years the boat can still be used to do 10 dollars tourist tours; the fact that they still use it does not justify an equal straight line equal depreciation... Or I am being unreasonable

My once quaint home town has been over-run by corporations doing ARBnB nightly style rentals. Homeownership is being pushed out. They have been so successful, that NOW the city & county govt are making developments that will ALWAYS be rentals. Young or old EVERYONE is being pushed out of home-ownership! Congress needs to pass legislation banning any foreign national, private equity firm (blackrock, statestreet, vangaurd), company, govt, or private individual from owning more than 5% of available housing in any one zipcode. BREAK up these monopolies & give the American TAXPAYERS back their HOMEs. If Congress gave foreigners & private equity 1 month to DIVEST, the "HOUSING CRISIS" would be FIXED by MID-TERMS. 🏡 Does anyone remember when the GOVT used to break up MONOPOLIES instead of ENCOURAGING THEM????

These guys used to give value on this podcast. Now it is just a mouthpiece for their different buddies. It is one thing to just talk, Michael actually put his money on the line.

Thank you Chamath to point it out mainstream media is not as invested and didn't fact check as they do for everything else. They took the hype and dragged down the market 😡

Freiburg is spot on re: housing. Government regulations have Inflated and distorted the market. Ditto for healthcare.

It's just not the same without Sacks schooling Jason 😁

David Friedberg, thank you sooo much for clarifying the point on GPUs. I’m definitely a fan of the Accounting Corner! 😊😂👍🙏🏻

The quote was by Benjamin Graham not by Warren Buffet: "In the short run, the market is a voting machine, but in the long run, it is a weighing machine".

Science progressive and fiscal conservative, Friedburg is mood man ❤

Really like the proposal by Ackman to cut down student debt

My favorite Jason so far

Disagree with Friedberg on the Processor life span. Yes, the processor may remain utilised for 7-8 years but in 4-5 years the CAPEX will still need to be spent on next generation processors or the hyper scaler will be left behind

As someone who grew up in Massachusetts and who could live there work in technology like I did before making $160k That extra money does you absolutely no good because the average house cost $800,000 and you need an income of at least $220,000 just to get the average house which is nothing special and all the money goes to tax because they tax the hell out of you. At this point it really only makes sense to stay in a blue state or a big blue city if you need to live there for a really high paying job like at least $300,000 a year or you have some sort of free housing. For example my brother is a TV weatherman and he could get a job in Oklahoma City for $135,000 or a job doing the same thing in Boston for $240,000 in Oklahoma City he can buy a mansion for that money in Boston he can't even buy the average condo... It is no joke that it's gotten so bad that your average plumber married to a nurse in a small town in Ohio are vastly better off materially than some really high educated person making $200k in a place like NYC or Boston. A few years ago I did the math and figure that out and I moved up to rural upstate New York or my college friend has a big farm and I started a business up here The average house around here cost $120,000 and I can make very good money up here I already started buying land to build on and it was so cheap I bought 13 acres of cash if that was in Massachusetts That would be a couple million dollars.

Loved the casual but energetic energy on today's show. Keep it up!

The day has finally come when I 100% agree with Jason! His frustration with the entitlement of these kids—who think it’s their right to live in the city, in the apartment/house/etc of their choosing, and to have the job they (think they) deserve without ever working for those things or making any sacrifices, adjustments, or good decisions along the way—is completely justified. I blame the parents!

Already up 30% on my PLTR short in 2 weeks

Great science corner on Coronal Mass Ejections. Great insights on a G5 storm, magnetic field strength. Thanks for explaining the northern lights being shown south.

Great science corner thanks Friedberg.

8:20 Bravo Friedberg!!!! 👏👏👏👏

Calling the Big Short "kind of right" is nuts. I mean the guy has underperformed the market since 2007 but give the man his flowers Chamath.

First time I really like this version of JCal. when he's so emotional on people need to be in austerity. I came from borderline poverty and I lived like that throughout my 20s and 30s. Worked, saved, invested, and no vac for all that time... That's how you get out of debt and build wealth. Then you see doctors in their 50s still have 500k student loan....

We are def not prepared for a Carrington level CME.

First of all, no, the old people dont all the houses, the wallstreet hedgefunds buy them up as an ivestmemt buing hundrens of thousands of properties. Second of all, no giving people a one time payment of $2k is not going to help pay for insurance that costs $2 to 4k a month. That does not in any way bypass the insurance companies regardless of the 15% gross profit cap. Just because the government policy had a bad resulr doesnt mean the government should not try to do something to address the issue

One can short the company’s stock if the valuation is too high and would correct as the bet. It doesn’t have to be a fraudulent business. It is a lot harder to make money in short positions because the government’s money printing machine.

That clip of Ben Shapiro clipped out the additional context where he went on to describe methods that the government could use to improve affordability, including increasing supply by regulation cuts

I'm a highly skilled software dev and haven't found work over a year. at this point companies ghost me. but the jobs market is cooked is everyone getting that treatment. H1B needs to go. I don't care what CEOs think about it 😚

What is the point of building a factory in America if it does not employ Americans? GDP? We don't have a GDP problem

Love this episode

Burry’s short was 900m notional exposure and it cost 9m in options premium. How do these guys not clearly understand this?

This is the best Grumpy Chamath and Soapbox Jason Episode so far! Sacks was missed!

Just get a degree from UT with no debt and buy a 500k house? Jason you are so out of touch 😂😂

Definitely need a science corner on photonic computing now

Perfect commentary around student debt and housing. Consistent quality content.

Chamath- Shorting a market that has been forced to inflate & go up the last 20yrs post the last crash is not the same as comparing it to when someone shorted the crash.

So are they going to give me $20K since I couldn't afford to go to college and didn't take out a foolish ampunt of debt?

The person currently in the executive branch of office also needs to end the H1B visa program immediately. The H1B visa bill was signed in the late ~1980s or early ~1990s by George Bush Sr(a Republican). The point is that the H1B visa program has been severely & deliberately abused & it's very corrupt.

At 24:49: Friedburg is right about the dis-incentives for housing construction. Cities don’t need to incentivize housing. The market will do that when demand increases. Cities just need to get out of the way by removing landuse restrictions to multi-unit and mixed-use building.

The media often do math…while on meth lol

Jayson, there is more to the story of that factory workers deportatation.

Good choice to have 3 besties rather than suck in a 'friend of the pod'. We got to hear more of the raw wisdom and fight that attracted us in the first place.

I love the cold open!

My understanding is that if you work at CNBC you cannot trade individual stocks or options. They are limited to ETFs and Mutual Funds

Jason's take on H1B: People are suffering; yada yada.

People who short Palantir generally think it’s a great business without competitors. However, it has a very high valuation and it is hard to predict how its earnings and revenue will play out. Since most of its earnings and revenue are well into the future this uncertainty and time needs to be discounted to a present value. It appears to be priced to perfection. Time really is the only way to know.

Friedberg on fire. A ton of value to be had from these gpus in inference after training

PLTR has a P/E ratio of 1,740 which is in the stratosphere compared to TSLA at 280 and TSLA already broke any sane valuation metric with that.

A reduction in housing costs also requires reducing illegal immigration.

Jason - Not killing, arresting and flying people that entered the country illegally home, is literally the most humane deportation effort ever conducted in human history 🙄

Right but who actually keeps the first house they buy for the duration of the loan? People usually sell and upgrade and at that point would likely be eligible for a shorter loan. This is a nothing-burger, offer the 50yr loan to those who need it.

LMAO "one of these guys is not like the other" this is why I like Jason being on the podcast, he just casually cracks a joke that Chamath is the only brown dude in the picture and is unafraid to say it. Sacks would've had a chuckle if he was on.

The Ben Shapiro point is pretty ignorant. The age of first time home buyer is currently 40 years, it is cheaper to rent than it is to buy in a lot of places, and private equity firms own hundreds of thousands of single family homes.

Jason can’t imagine people wanting to be rooted in the community where they grew up because he is the definition of the rootless cosmopolitan.

Government involvement is why me and my fellow medical people are in so much debt. The schools charge that much because they know the government will give the loans.

This podcast is truly a beacon of light in a world of shadows. Thank you for doing journalism in a world where journalists are illiterate in the topics they are writing about.

Chamath on his phone during Friedberg’s segment. Classic.

it’s a Benjamin Grahams quote, but it’s great that’s the only line people read in security analysis

Building codes also raise prices, the codes make you have to build a very expensive home per sqft

How about we limit the amount of homes corporations could buy so we’re not competing against them when buying a house?

I like the accounting corner. I think it needs to be a weekly staple.

My understanding that Michael Burry did not short PLTR, but had a $9 million worth of put option contract. Buying put option is not the same as shorting a stock. Short is riskier than loosing 9 million dollars if put option price is not reached.

On the 50 year mortgage, when you lower you monthly payments you can submit additional monthly payments to reduce principle on the mortgage and o reduce the duration of the loan.

Wow, well explained Freeberg

Love soap box JCAL! today. he's damn right 👍

Friedberg is brilliant.

It's not just H1-B. The number of international students over the past 20 years has exploded and they get OTP. It's massive immigration by the backdoor. The UK and Canada had the same issue and are fixing it. The US is doing nothing about it.

Government sponsored entities Fanny/Freddie (housing) Salley (Tuition) distorted pricing WAY WAY up on the upside. Wells Fargo didn't have to live with the loan of 2.9% for 30 years. NO for profit company would do this. GSE's are clearing houses. Banks happily mop up a couple points of margin. BAM!! houses prices up

Really appreciate Jason's comments that the problem of housing affordability does not exist in Texas. Or Ohio. Or Iowa. Or Idaho etc etc. The problem of housing unaffordability is that gorgeous NYC Brownstones and LA Hills Mid Century Modern delights are the measure of housing today. Same in Oz. Sydney on the water - need bejillions. But there other spots in Oz and the US that can be bought for a totally affordable sum even as a young and new worker.

Life span vs depreciation are two different things. An H100 Server will last longer than 3years. However, a business may depreciate a H100 and get written off after 3 years.

Someone from the All-In crew please thank David Sacks for birthing the idea of Grokipedia. The single best source of truth next to X. I use it every day... I'm All-In!

Kids in junior high need a quest speaker to break down the cost of a student loan , before they get into one

Doing accounting tricks to decrease depreciation on paper does feel like the housing crisis

Friedberg: "Every time a government gets involved in a market it limits and distorts the market." Hmm. Tariffs? Buying 10% of Intel? Taking 15% of Nvidia? The histrionics here are very inconsistent.

😮 where's Sacks? He's not pouting from last week's debate, right 😂😅

2:38 The spot on Chamath's nose has caught my attention! Sorry Chamath.

Addict Apartment 😂

WOW!!! Jason got really cranked up and sounded like a full-blown conservative! He wants young people to actually take responsibility for their own decisions and not just be entitled brats! WOW!! Good for you, Jason!!! And Chamath is loving it!;-)

Chamath says 155 times sales is a reasonable 😀😀

Chamath made a good point. In a rising market shorts basically don’t make any money. Short sellers fear monger, then cover when people panic. And honestly, the Palantir short happened following last earnings, which was half a year ago IMO. At least the market is saying it’s willing to buy at these prices. Shorts are not a long term investment, but they do well in down markets.

Hey Friedberg, I think the whole point of LA capping rent increases was to stop having investment funds and private equity firms buying up all of the real estate and just renting it out. We want residents of Los Angeles to own their own homes. Disincentivizing the investors from buying up all of the land enables first-time home buyers to get a piece of the action.

CNBC knew what they were doing, the SEC needs to investigate them.

How many of you have the Austin Powers syndrome and can't ignore Chamath's mole lol

32:39 — Absolutely! Make the universities co-sign these student loans!!

Love how Jason keeps saying he lives in an “addict” apartment. When he’s trying to say attic. @34:03

Great show boys…grumpy Chamath was by far my favorite 😁

Great Discussion and Strong Arguments / Insights. NEVER miss an Episode. Cheers 🍻

The jump ahead button was clutch :D

I LOVE soapbox Jason. I could watch that segment on repeat. Preach!!!!

Euclides. The. Hello. You. 🙂👍👍👍💯💯💯💯💯✨

8:00 yes but you also have articles saying they don't have power capacity for new GPUs they have taken delivery of...

Friedberg always brings interesting topics. I read on the news that there were aurora borealis as far south as Alabama. Now I know why.

No one saw the stability of the market resting on depreciation schedules coming…

skin in the game

Freebirds science lesson was great this episode! Would love to see more of this!

Friedberg and mass ejections. I laugh for 4 mins straight!

I’m w Chamath, PLTR is the AI winner

The home comment was so narrow sited by stating it reduces the new builds as what it does is pushes out the companies from buying single family homes and doing so at a premium which jacks the prices and makes them unaffordable. So one would hope we end up with more homes owned as opposed to leased.

These guys rock!! Let’s go Jason!

Chamath your insight is remarkable

44:18 J-Cal and Chamath having a moment while David is talking. Adorable!

To address the home ownership crisis is to limit number of individuals or corporations can hold! Cap it to 10 and more than that you charge them premium tax! And allowing these investors to only own multi family houses if they want 6+ units.

Doesn’t the big beautiful bill permit total depreciation for a few years ago

So people that borrowed responsibly should subsidize those that didn’t?

On housing affordability, we went from all time historically low mortgage interest rates (under 3%) to more typical rates around 6.5%. Interesting on Bill Ackman's suggestion. I have been suggesting we split the debt write off: half by the schools pushing these worthless degrees and half the government. I like Ackman's idea even better: let the schools absorb the first $20K in loss FIRST. Jay Cal has some great ideas on this show.

Can we get Chamaths Obama-Care clip made into a short so we can share it with everyone?!?! Please!

It would be great to hear Chamo comment on Enron because that was a legitimate short that was total corporate mafesence that was cooking the books and a lot of people lost an awful lot of money. That would be a great little talk for the All in podcast to go over

Your editing style is so unique

Friedbeg: love you man and you’re the smartest of the bunch but it was Ben Graham, Buffet’s mentor, who first said “in the short run the market is a voting machine and in long run a weighing machine “

I am sure Chamath has never made a mistake in his life!

Chamath @ 11:55: "...it's extremely hard to impossible to commit financial fraud as a public company in 2025." Oh wow! I feel so much better. Thank you for clearing that up.

Building out electronics with a risk of a Carrington event is like building a mansion at the base of a volcano.

Jason sounds increasingly like Christopher Walken

Is Chamath catching a nap whenever Friedberg speaks?!? 🤣

friedberg corner is the equivalent of my girl best friend explaining mercury retrograde

I have the alarm 🚨 notification on and this pod doesn’t even appears on my recommended videos to watch!! Anyone else??!!

“Wet your beak” intro gone is a bummer. Gets me in the zone

I have a mortgage. When I hear the amounts of money people pay in rent each month, I am stunned, because it is always well above my mortgage. Even when I bought my first house, the hardest part was the initial down payment that was required to get into buying a house.

Competition is good, when there’s two why not get them both! I’m up 510% XA91P and 650% on SUI LG!!! It’s still early people 😊😊 Thanks for the video!

Love how Friedberg explained what a stock is valued. That’s exactly how it works today. Maybe not 20 or 30 years ago. But today yes

One missed point in Austin Texas and other emerging tech areas is rent and other costs are starting from low base, the example given here will cause runaway inflation, which is what has happened in New York, San Francisco, they might need a different model than this, or let creative destruction find new winner cities and loser cities

Depreciation is just another term for ageing assets

Faraday materials to shield from the radiation?

In Singapore, it's normal to travel 1 to 2 hours to work and school.

Great information as usual. Jason rant on young college students was so good that had to rewind 😀

This was incredibly informative. Love your podcast ❤

Nice one, besties!

Thank you guys for doing these pods every week.

Thanks for releasing another episode despite being exhausted from the week. You guys rock.

Glad Chamath read comments.

Love accounting corner and science corner ❤️

Best episode in a LONG time

Great episode boys!

Thankyou!!!! wow, Great advice

Awesome clarification

Another great sessions

Preach it JCal! 👏

Best explanation of the science behind the geomagnetic storms by Fridberg I have ever heard 👍

Great episode - you guys crack me up! But at the same time, you educate us. My favorite pod!

Love these guys

underrated mass ejection on the flight joke by Jason

Excellent comments from David!!!🎉

D. Friedberg…Thank you for the clearest explanation of a solar storm I have ever heard! Well done sir!

Thank you guys so much for all that you do.

I love you guys, I don’t know what you’re saying half the time , but I do learn something every time..was well aware of the sun’s eruptions and actually felt it ….❤

This episode had a ton of great insights. Thanks for running down the Burry short issue—I thought I was the one who was crazy after reading his analysis, and shaking my head thinking there was no way they were going to unplug all of those NVIDIA servers in three years because of lack if use.

The aurora in Alaska from this event was vivid pink - unusual. Normally we just see blue and green northern lights.

Hi All-in , can something be done on reordering the GC priority list? Something like give priority for people who lived and payed the taxes without moving out of country for longer term.

Jason on rent and affordability at 30 minutes should be listened to by everyone in the world!

Thank you for the show.

Always learn a ton about business and markets from you 🤙🏻

It wasn’t that long ago that young people didn’t want to buy a home. They thought it was a joke to saddle yourself with a huge debt, and to get nailed down to living in one place. They wanted mobility and freedom. What happened?

Refreshing takes, no talking points. Keep it up!

10:10 Bravo Chamath!!!! 👏👏👏👏 💯💯

Love Chamath's Palantir take

Another excellent show. 😊

yo yo yo big short deeeez m. burry 🗽🦅📈🇺🇸 appreciate u guys. thx 4 all u do.

@Chamath needs to get the cologne!! I’m goin all in!!

Great One!!

8:32 greater utilization would mean greater wear & tear, which should reduce the useful life of the equipment?

@Friedberg don't the NVDA chips overheat at some percentage and only last 2 years after the usage?

proton is charged positive, magnetic storm would affect it as well....??

26:10 what are we talking about? I understand that it’s a negative for building, but all it means is a longer time for the investment to break even.

Isn’t there upside on sale value? Even with a capped rent, demand will inevitably inflate sale value, won’t it?

Professor Friedberg is an icon.

Fortunately we can recruit those people because we're special. I hear you Friedberg.😊

Great listening

im mad that i did not find this podcast earlier.

41:12 Jason nails it!!! ❤

Great show as usual. And no David Sach’s!!!!!!!!!! 13:08

Thanks

Wow... Jason incensed about something so personal he had to do to get by; much respect sir

Amazing episode. I wish all NYers had the privelege of understanding this before being sucked in by the promise of free everything.

Thank you Chamath for calling out the shorts I agree with you shorting is gross 🤮

whats the guy called in Malaysia with the networking events? Bology? 52:17

3:50

Yay accounting corner! 🎉 5:08

I brought up Carrington Event as risks to my Company's infra during Covid times in a Business Continuity meeting. I was told its low probability event and can be ignored.

That’s perfect 👌 put the university’s on the hook.

Love how Jason jocks Shapiro 😄. Dork!

46:55 No one caught that one from JCal 😆

Funny times in the 3 corners .😅😅😅🎉

So was the NVDA short mis-stated as well?

Yoo are we doing budget cut on the intro ???

The 50 year mortgage only works if the rate for them are lower than the 30 year mortgage