All-In E125: SpaceX launch, Fox News settlement, "Zombie-corn" exodus to AI, late-stage implosion
Episode 125 • 4/21/2023
SpaceX Starship Launch Discussion with Antonio Gracias & Gavin Baker
- SpaceX board member Antonio Gracias and investor Gavin Baker joined to discuss the historic Starship launch
- Launch was considered a huge success despite not reaching orbit, as getting off the launch pad and through max Q was the primary goal
- Starship represents a 50x improvement in cost per kg to orbit - capable of lifting 100+ metric tons for ~$2M in variable costs
- Next launch estimated in 2-3 months after pad rebuilding
- Discussion of long-term implications including:
- Point-to-point Earth transportation
- Revolutionizing cargo shipping
- Technology spinoffs similar to Apollo program
Fox News Settlement & Media Discussion
- Fox News agreed to $787M settlement with Dominion over election fraud claims
- Group discussed how this may embolden more lawsuits against media companies
- Debated whether New York Times v. Sullivan standard needs revision
- Suggested corrections should get same prominence as original incorrect stories
"Zombie-corn" Exodus to AI
- Discussed mass exodus of talent from late-stage startups ("zombie-corns") to AI startups
- Chamath noted 70-80% of Series C+ companies are worth less than their preference stack
- Traditional VC model being challenged as AI startups need much less capital
- Many late-stage companies facing "pay-to-play" rounds forcing existing investors to put in more money
Late-Stage Funding Crisis
- Series C funding has collapsed according to data shown
- Discussion of how AI is enabling companies to cut costs significantly by replacing human labor
- Debate over whether existing late-stage investors will mark down portfolios appropriately
- General agreement that many more late-stage companies will face severe challenges ahead
Other Topics
- Brief discussion of Reddit and Stack Overflow charging for AI training data
- Update on Republican primary polling between Trump and DeSantis
- Discussion of Disney vs DeSantis political battles