All-In E123: Trump indictment, de-dollarization, should VCs back Chinese AI? RIP Bob Lee
Episode 123 • 4/7/2023
Trump Indictment
- Trump charged with 34 felony counts of falsifying business records by Manhattan DA Alvin Bragg
- The group largely agreed this was a weak case, with Sacks arguing it was politically motivated
- Notable that even critics of Trump like Preet Bharara viewed this as the weakest of Trump's four major legal challenges
- Concerns raised that pursuing this weak case could undermine future stronger cases against Trump
- Discussion of whether the prosecution helps Trump politically by rallying Republican support
De-dollarization Discussion
- Recent China-Brazil deal to trade in their own currencies sparked debate about "de-dollarization"
- Chamath argued this is overblown since yuan remains pegged to USD
- Friedberg noted China's growing trade relationships globally as US reduces engagement
- Sacks highlighted $32T US debt as a key risk factor for dollar's future status
- Group discussed potential solutions including:
- Austerity measures
- Increased productivity through technology
- Intelligent immigration
- Higher taxes (Friedberg predicted 70% top rate could return)
Chinese AI Investments
- Debate over whether US VCs should back Chinese AI companies
- Chamath argued strongly against it, saying CFIUS needs to regulate this
- Sacks proposed simple rule: OK to work with US allies, not with adversaries
- Discussion of whether economic interdependence with China has helped or hurt US interests
Bob Lee's Death in San Francisco
- Cash App creator Bob Lee tragically stabbed to death in San Francisco
- Group discussed broader implications for San Francisco's public safety crisis
- Friedberg and Sacks criticized city's approach to crime and homelessness
- Lengthy discussion on San Francisco governance and need for regime change
- Chamath noted America's deep divisions make addressing crime politically difficult
The episode ended with agreement that San Francisco needs major reforms but skepticism about political will to achieve them.