All-In E126: Big Tech blow-out, Powell's recession warning, lab-grown meat, RFK Jr shakes up race & more

Big Tech Earnings & Future Outlook

• Google reported mixed earnings with cloud unit profitable for first time, announced $70B stock buyback
• Meta shares up 90% YTD after cost-cutting measures
• Amazon crushed earnings estimates, stock up 10% after hours
• Group discussed how big tech companies are transitioning to "cash cow" status with single-digit growth
• Chamath argued these companies are past peak innovation, now focused on financial engineering

Powell's Economic Warning & Fed Policy

• Powell warned of either sub-1% growth or recession as most likely scenarios
• Indicated need to cool labor market and wages to combat inflation
• Sacks criticized Powell's limited toolset, suggested alternative approaches like addressing supply chain issues
• Discussion of persistently high job openings despite economic uncertainty

Lab-Grown Meat Technology

• Friedberg outlined three categories of alternative proteins:
  1. Plant-based (Beyond/Impossible)
  2. Recombinant DNA protein synthesis
  3. Cellular meat
• Detailed technical challenges in scaling cellular meat production
• Cost remains major barrier, with manufacturing capacity constraints
• Group debated whether lab-grown products can match natural meat taste/quality

RFK Jr Presidential Campaign

• Sacks strongly endorsed RFK Jr for Democratic primary
• Currently polling at 19% despite just launching campaign
• Campaign focuses on anti-war stance, CIA criticism, environmental issues
• Group discussed controversy around his vaccine positions
• Drew parallels to his father's 1968 campaign against incumbent president during unpopular war