Episodes
Socialists Sweep NYC, China Catches Up in Coding, AI Memory Crunch, Micron's Blowout Quarter
All-In Podcast
6/26/2026
The podcast features a dynamic conversation among Jason Calacanis, Chamath Palihapitiya, David Sacks, Gavin Baker, and Travis Kalanick. They begin by analyzing the recent political sweep in New York City by the Democratic Socialists of America (DSA), driven by figures like Zoran Mamdani. The hosts debate the societal implications, contrasting the DSA's platform with the potential of AI (Artificial Intelligence) as an economic equalizer. The discussion shifts to the global stage, specifically the technology race with China. The panel observes that Chinese firms are catching up rapidly in Open source AI. For instance, Z.AI recently released the highly capable GLM 5.2 model, which heavily relied on Distillation (AI) techniques and hardware from Huawei, similar to how DeepSeek operates. This rapid progress challenges US incumbents like OpenAI and anthropic. The latter, led by CEO Dario Amodei, recently saw its Fable 5 model delayed due to regulatory caution surrounding Cybersecurity in the AI era. The panel predicts a shift toward Composable Models, which combine open-source solutions with proprietary models, thereby expanding the entire AI Infrastructure market currently dominated by Nvidia and its CEO Jensen Huang. The panel then dissects the hardware bottleneck. Micron recently smashed earnings expectations thanks to massive demand for High-bandwidth memory (HBM). Alongside SK Hynix and Samsung, Micron is struggling to meet demand, while Chinese manufacturer CXMT
GameStop CEO Ryan Cohen’s $56B Plan to Take Over eBay
All-In Podcast
6/23/2026
Sponsored by AppLovin, an episode of the All-In Podcast features host David Friedberg interviewing Ryan Cohen, the CEO of GameStop. The conversation begins with Cohen's entrepreneurial journey, detailing how Chewy, a company he founded, was built to compete directly with Amazon in E-commerce. Cohen achieved success by mastering Supply Chain logistics, managing Negative working capital, and focusing on Recurring revenue. Following the sale of Chewy, Cohen transitioned to Activist Investing. He discusses filing a 13D form with the SEC, a shift from passive 13G investing, to actively engage with GameStop management. This occurred around the time of the next Console cycle featuring new PlayStation and Xbox releases. The Wall Street Bets community propelled GameStop into the center of the Meme Stocks phenomenon. Upon becoming CEO, Cohen had to quickly learn Physical Retail operations. He initiated an aggressive Cost Cutting strategy and pivoted the company's focus toward the Collectibles market, particularly Trading cards, leveraging a strong Trade-in model. These efforts led to impressive Free cash flow and enabled Share Buybacks. The core of the discussion revolves around GameStop's $56 billion M&A bid for eBay. Cohen criticizes eBay's current Corporate Governance, noting a lack of Skin in the game among executives, and emphasizes the superiority of Founder-led companies. While acknowledging eBay's First-mover advantage and
World's First Trillionaire, Anthropic Fable Banned, The New Oligarchs, Iran Peace Deal
All-In Podcast
6/19/2026
In this episode, the hosts Jason Calacanis, David Sacks, Chamath Palihapitiya, and David Friedberg discuss major market shifts, tech disruptions, and geopolitical events. The conversation opens with a critique of the "new oligarchs," calling out Elizabeth Warren, Bernie Sanders, and Ro Khanna for pushing policies that undermine Capitalism and erode Private property rights. They point to legislation backed by JB Pritzker as a specific example of this state-level overreach. The focus then shifts to Elon Musk, who has been dubbed the world's first trillionaire following the record-breaking IPO of his aerospace company, SpaceX. This historic public offering was highly democratized, offering retail allocations via Robinhood and Charles Schwab. SpaceX's new valuation surpasses tech giants like Amazon and Microsoft, ranking it just behind TSMC. Additionally, SpaceX acquired the coding startup Cursor for $60 billion, which leverages Musk's massive Colossus compute cluster. A major portion of the discussion covers the intense regulatory clash surrounding anthropic. The White House and the Department of Commerce, led by Howard Lutnick, forced the shutdown of Anthropic's restricted AI model, Fable 5. This intervention occurred after Amazon CEO Andy Jassy reported severe jailbreaks in the model. National security concerns were heightened because SK Telecom had been granted preview access to Mythos, an even more powerful base model. anthropic CEO Dario Amodei
Anthropic's Fable Backlash, Nationalizing AI, Inflation Heats Up & California’s Broken Elections
All-In Podcast
6/12/2026
The All-In Podcast episode reunites the core host quartet of Jason Calacanis, Chamath Palihapitiya, David Sacks, and David Friedberg for an extensive discussion spanning technology, finance, and politics. They begin by unpacking the backlash surrounding anthropic and its newly released Fable 5 AI model. With CEO Dario Amodei back to blogging, the hosts analyze the model's performance—which exceeds the older Opus 4.8—and its rigorous safety safeguards. Though praised for its capabilities (having been validated by the CEO of Palo Alto Networks), the model's 30-day data retention and aggressive monitoring for frontier AI research have sparked major concerns over AI Censorship. Chamath Palihapitiya notes the significant business risk of accidental censorship. In response, David Friedberg highlights how companies are being forced to adopt Open source AI, noting that currently the best models are coming from China. The hosts discuss the hardware implications, touching on the value of running models locally on Apple Silicon. They also reference Meta's competitive fumble and subsequent recovery with Llama, which stands as a prime example of accessible AI. Debating the necessity of guardrails, the hosts compare the evolution of AI to the dual-use nature of the Manhattan Project and question why basic KYC/AML checks aren't used instead of opaque algorithmic downgrading. The conversation then shifts to the political response to AI's rapid ascent. They discuss a controversial proposal by Senator Bernie Sander
All-In's Best Ideas Pitch Competition: 4 Investors Present Their Top Trades Live
All-In Podcast
6/11/2026
During a special live segment of the All-In Podcast, co-hosts Chamath Palihapitiya and David Friedberg, joined by guest judge Gavin Baker (filling in for the absent David Sacks), evaluated four compelling investment pitches. First, Aaron Cowen of Suvretta Capital Management pitched MGM Resorts. While primarily known for its Las Vegas casinos and heavy competition with Caesars, the company contains massive hidden upside. This includes an exclusive upcoming casino license in Osaka targeting wealthy gamblers from China, as well as real estate optionality in Dubai. Barry Diller has been aggressively acquiring the stock, creating a robust price floor. Next, Dan Dreyfus of Bornite Capital pitched Talen Energy, a provider of Nuclear Power and Base Load Power operating heavily in the PJM grid. Spotlighting the explosive power demand driven by AI Data Centers, he invoked Sam Zell's strategy of buying below replacement cost and echoed Jensen Huang's warnings regarding impending energy shortages. Big tech firms like Microsoft and Amazon are rapidly locking down grid capacity through Power Purchase Agreements, highlighted by a deal with Constellation Energy to revive the Three Mile Island reactor. The third pitch came from Oleg Nodelman of EcoR1 Capital, who highlighted Aktis Oncology, a highly innovative Biotech firm focusing on Radiopharmaceuticals. Utilizing complex Radioisotopes (specifically Actinium), their therapies execute pinpoint strikes
Senators John Fetterman and Dave McCormick: Bipartisanship, Money in DC, Datacenters, Graham Platner
All-In Podcast
6/10/2026
In a recent episode of the All-In Podcast, co-hosts David Friedberg, Chamath Palihapitiya, David Sacks, and Jason Calacanis interviewed Pennsylvania Senators John Fetterman and Dave McCormick. A central theme of the discussion was the urgent need for Bipartisanship within the US Senate to effectively tackle pressing national issues. They highlighted collaborative efforts on combating the Fentanyl crisis and the alarming rise of Anti-Semitism. The group discussed the struggles of the K economy, which widens the Wealth gap and alienates the Working Class. To counter this, McCormick championed free-market strategies like the Invest America Act to restore true Upward Mobility. Fetterman passionately defended Capitalism as the best mechanism for prosperity and strongly condemned the growing embrace of Socialism in the Democratic Party, pointing out that mainstream politicians like Chuck Schumer and Elizabeth Warren have moved uncomfortably far left. In contrast, McCormick, representing the Republican Party, and Fetterman both praised pragmatic governance, pointing to centrist leaders like Josh Shapiro and emphasizing the need to preserve the Filibuster to prevent pure political tribalism. The senators also celebrated a massive Blue-collar Boom currently unfolding in urban centers like Philadelphia and Pittsburgh. This boom is driven by heavy Infrastructure investments, AI buildouts, and new Data Centers. Major corporations like US Steel and Eli Lilly}
Dan Dreyfus: The Next AI Bottleneck is Copper
All-In Podcast
6/9/2026
In this episode, guest Dan Dreyfus discusses the looming crisis surrounding Critical minerals and Commodities. He argues that the United States is exiting its Capital Light Era—a period where immense wealth was created by software platforms like Google, Meta, WhatsApp, and Apple without massive physical investments. As the nation shifts toward Reshoring Manufacturing and Reindustrializing the United States, the global Supply Chain faces unprecedented shocks. This shift, combined with the rapid expansion of AI and Data Centers relying on advanced CPUs and High-bandwidth memory (HBM), places immense strain on the aging Electricity Grid, particularly in regions like Texas and California. The demand is further amplified by the transition to Sustainable Energy, heavily involving Solar Energy and Wind Energy, alongside the rapid adoption of the Electric Vehicle (EV) and autonomous Robotaxi fleets. Concurrently, geopolitical tensions drive up material demands, with Taiwan, Japan, and Europe increasing defense spending, while the conflict between Russia and Ukraine consumes massive amounts of materials. Commercial aerospace companies like Boeing and Airbus also face a massive backlog, competing directly with the emerging Space Economy. Dan Dreyfus highlights Copper as the most critical bottleneck for global GDP Growth, requiring unprecedented extraction rates. Meanwhile, China holds a dominant grip on Rare earths and processing, which
Bill Maris: How Google Could Crush AI Competitors, Why Small Funds Win, and AI's Atari Stage
All-In Podcast
6/9/2026
In a comprehensive episode of the All-In Podcast, guest Bill Maris joins co-hosts David Friedberg and David Sacks to unpack his career and investment philosophies. Bill Maris shares how he started by running Data Centers from his apartment, a move that seemed unconventional but captured his vision of the future—a concept he illustrated using historical photos provided by Stewart Butterfield. Maris later collaborated with Rich Miner, co-founder of Android, to launch Google Ventures under the umbrella of Google. By relying heavily on data and Machine Learning—the approved corporate nomenclature for early AI—he developed a highly successful portfolio strategy, earning accolades in TechCrunch. He proved that applying Computer Science yields major results, evident in GV’s investment in Climate Corp, founded by David Friedberg, which achieved a massive exit to Monsanto. Transitioning to modern Venture Capital, Bill Maris explains his rationale for creating Section 32. He argues that giant entities like Andreessen Horowitz and Founders Fund distort the market. These mega-funds require colossal M&A and IPOs to generate meaningful DPI, ultimately pressuring the Startup Founder with inflated valuations. In contrast, Section 32 deliberately maintains smaller fund sizes, successfully backing companies like CrowdStrike, Cohere, and Coinbase. On the topic of artificial intelligence, Maris warns that Google could deploy Capital as a weapon by dramatically disco
Palo Alto Networks CEO: "AI Found 5 Years of Bugs in 6 Weeks"
All-In Podcast
6/8/2026
In this episode of the All-In Podcast, Palo Alto Networks CEO Nikesh Arora joins hosts David Friedberg, Jason Calacanis, and Chamath Palihapitiya to discuss the massive implications of AI on business. Arora, who previously held leadership roles at Google and SoftBank and sits on the board of Uber, shares how his company utilized the highly capable generative AI model Mythos to discover five to seven years' worth of code vulnerabilities in just six weeks. This breakthrough fundamentally redefines Cybersecurity in the AI era, turning the race between cyber defenders and attackers on its head. However, Arora notes that Hallucination rates (like a 30% false positive rate seen in testing) remain a major hurdle for fully automated digital defense. The discussion heavily focuses on the massive disruption coming to the traditional SaaS industry. Arora points out AI as a technology equalizer and predicts that Analytical SaaS is effectively dead. Instead, AI agents will handle data querying and backend tasks natively through Automation, rendering legacy visual Computing Interfaces obsolete. In contrast, Infrastructure Software such as Data Bricks, Snowflake, and MongoDB are highly undervalued because enterprises will need 10x the data storage to power AI Infrastructure. Consequently, foundational Systems of Record like Salesforce, Oracle, and SAP will have to be completely re-engineered for an AI-native world. The panel explores evolving software business models, observin