All-In with Chamath, Jason, Sacks & Friedberg

(0:00) Daniel Ek joins the Besties!
(1:14) Starting Spotify: Beating piracy and betting his own money on the record labels
(6:10) Neko Health: The Spotify playbook for healthcare, the $499 body scan, and why US healthcare waits until you're sick
(36:04) AI: Tech's failure to sell the upside, open vs. closed models, and regulating compute
(44:24) Back to Spotify: Podcasting's open standards and the Stardoll origin story



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(0:00) Bestie Intros: Favorite All-In Summit moments
(3:54) Reacting to AI chaos: Liability, competition, and rebranding frontier "labs"
(20:03) Open Source performance and cost: What this means for frontier companies
(29:22) Anthropic and OpenAI postpone IPOs: liquidity risk and open source pressure
(53:11) Political reactions to "Pacing the Frontier": Bernie's AI ban, Trump, Bessent, Obama
(1:07:58) Meta launches Muse, AI "alignment," Oracle's Force Majeure
(1:27:13) Anthropic's bio research and "wet lab" in SF
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Referenced in the show:
https://www.deepseek.com/en/news/deepseek-v4-1-flash
https://x.com/XiaomiMiMo/status/2102138559952290106
https://x.com/0x0SojalSec/status/2101738277049131358
https://prismml.com
https://x.com/SenSanders/status/2102827319123693689
https://x.com/yipitdata/status/2102781268974793023
https://fortune.com/2026/09/12/sam-altman-openai-ipo-delay-ill-advised-moment-safety-concerns/
https://www.wsj.com/tech/ai/anthropic-shifts-planned-ipo-to-november-8874dffc
https://polymarket.com/event/ipos-before-2027
https://www.theinformation.com/articles/anthropic-seeks-palantir-style-voting-control-seven-co-founders-ahead-ipo
https://x.com/rauchg/status/2101186741042663579
https://www.anthropic.com/constitution
https://www.wsj.com/economy/the-ai-build-out-is-becoming-the-biggest-economic-bet-in-u-s-history-c60716dd
https://x.com/mustafasuleyman/status/2100223594534150428
https://freebeacon.com/america/suicidal-compassion-meet-the-anthropic-officials-who-think-ai-might-be-justified-in-going-rogue-against-the-humans-enslaving-it
https://www.anthropic.com/news/claude-discovers-novel-enzyme-system

(0:00) Luca Ferrari joins the Besties!
(1:56) Crashing an AI startup, the $40,000 restart & buying product market fit
(4:59) The in-house tech stack, shrinking the teams & the 10 out of 10 standard
(9:55) Debt as an accelerant, what happens if rates rise & who else is bidding
(14:58) Inside the deal desk: what gets acquired, why they don't build & the founder question
(20:22) Building a tech giant out of Milan, Europe's talent pool & the outsider advantage
 
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Oracle connects the data, applications, and infrastructure that turn AI into business outcomes—with the flexibility, choice, and control to optimize as AI evolves. http://oracle.com/ai
EY helps tech innovators scale from startup to exit to megacap. You build the future. We'll handle the rest. http://www.ey.com
Meta believes the future is for everyone. We're focused on giving every person the tools to reach their full potential and making sure the benefits of technology are distributed to all. http://www.meta.com
Keel Infrastructure owns the power, land, and connectivity that HPC and AI run on - backed by secured energy assets and established grid interconnections across North America. https://keelinfra.com/
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PayPal has been revolutionizing commerce globally for more than 25 years. Creating innovative experiences that make moving money, selling, and shopping simple, personalized, and secure, PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy. For more information, visit https://www.paypal.com
Google for Startups connects founders with the right people, products, and best practices to help startups build faster and go further. https://startup.google.com/
Explore ideas, industries, and technologies worth understanding with Chamath every week on Learn with Me: https://research.socialcapital.com/allin
 
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(0:00) Steve Hilton joins the Besties!
(3:53) How one-party rule broke the state, regulatory bloat & who really writes the laws
(12:09) The path to victory: the persuadable voter, the cost-of-living pitch & the case against Becerra
(21:46) Spencer Pratt joins: the message that cut through & the LA race that flipped
(26:58) The city up close: the parks, small business & who the rules actually reward
(36:54) Ballot harvesting, voter ID & whether the system is rigged or just legal
(47:13) The Palisades: the empty reservoirs, suing the state & what Spencer does next
 
Thanks to our partners for making this possible!
IREN is a vertically integrated AI Cloud platform, delivering data centers, compute and software for AI training and inference. https://iren.com/
Oracle connects the data, applications, and infrastructure that turn AI into business outcomes—with the flexibility, choice, and control to optimize as AI evolves. http://oracle.com/ai
EY helps tech innovators scale from startup to exit to megacap. You build the future. We'll handle the rest. http://www.ey.com
Meta believes the future is for everyone. We're focused on giving every person the tools to reach their full potential and making sure the benefits of technology are distributed to all. http://www.meta.com
Keel Infrastructure owns the power, land, and connectivity that HPC and AI run on - backed by secured energy assets and established grid interconnections across North America. https://keelinfra.com/
Airwallex - Agentic Global Business Accounts. Open local accounts in 70+ countries to accept payments, earn yield, pay globally, and manage spend. http://airwallex.com
PayPal has been revolutionizing commerce globally for more than 25 years. Creating innovative experiences that make moving money, selling, and shopping simple, personalized, and secure, PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy. For more information, visit https://www.paypal.com
Google for Startups connects founders with the right people, products, and best practices to help startups build faster and go further. https://startup.google.com/
Explore ideas, industries, and technologies worth understanding with Chamath every week on Learn with Me: https://research.socialcapital.com/allin
 
Follow the besties: 
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(0:00) Welcome Blake Scholl!
(5:11) Solving the sonic boom & legalizing supersonic flight
(7:59)  The pivot to powering data centers
(10:38) Jason joins: data center demand, private jets & what winning looks like
 
Thanks to our partners for making this possible!
IREN is a vertically integrated AI Cloud platform, delivering data centers, compute and software for AI training and inference. https://iren.com/
Oracle connects the data, applications, and infrastructure that turn AI into business outcomes—with the flexibility, choice, and control to optimize as AI evolves. http://oracle.com/ai
EY helps tech innovators scale from startup to exit to megacap. You build the future. We'll handle the rest. http://www.ey.com
Meta believes the future is for everyone. We're focused on giving every person the tools to reach their full potential and making sure the benefits of technology are distributed to all. http://www.meta.com
Keel Infrastructure owns the power, land, and connectivity that HPC and AI run on - backed by secured energy assets and established grid interconnections across North America. https://keelinfra.com/
Airwallex - Agentic Global Business Accounts. Open local accounts in 70+ countries to accept payments, earn yield, pay globally, and manage spend. http://airwallex.com
PayPal has been revolutionizing commerce globally for more than 25 years. Creating innovative experiences that make moving money, selling, and shopping simple, personalized, and secure, PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy. For more information, visit https://www.paypal.com
Google for Startups connects founders with the right people, products, and best practices to help startups build faster and go further. https://startup.google.com/
Explore ideas, industries, and technologies worth understanding with Chamath every week on Learn with Me: https://research.socialcapital.com/allin
 
Follow the besties: 
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Intro Music Credit:
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https://x.com/yung_spielburg
 
#allin #tech #news