All-In E172: SBF gets 25 years, Trump's meme stock, RFK Jr picks VP, Biden's 2025 budget & more
Episode 172 • 3/29/2024
SBF Sentencing & FTX Update
- Sam Bankman-Fried sentenced to 25 years in prison for FTX fraud
- FTX customers lost $8B, investors lost $1.7B, and lenders lost $1.3B
- Judge noted SBF showed no remorse and knew actions were criminal
- FTX selling majority stake in Anthropic for $884M
- Bankruptcy estate expects to fully repay legitimate customer claims
- Discussion of how SBF made good early investments (Anthropic, Solana) but got caught up in criminal behavior with Alameda
Trump's SPAC & Social Media Platform
- Trump's Truth Social platform has de-SPAC'd under ticker DJT
- Company valued at ~$8.5B despite only $4.5M in revenue and $60M loss
- Not disclosing key metrics like user numbers or engagement
- Chamath compared it to "Bowie bonds" - monetizing personal brand value
- Debate over whether valuation represents protest votes vs fundamental value
RFK Jr's VP Pick
- Selected Nicole Shanahan, 38-year-old Bay Area lawyer, as running mate
- Picked for tech knowledge, health/environmental views, and youth appeal
- Shanahan previously donated $4M to RFK Jr's Super Bowl ad
- Discussion of whether pick helps or hurts campaign viability
Biden's 2025 Budget Analysis
- Proposed $7.3T budget for FY2025, up 18% from 2023
- $1.78T projected deficit
- Interest payments approaching $1T annually
- Detailed discussion of federal spending trends, revenue limitations, and structural challenges
- Debate over potential solutions including spending caps and entitlement reform
Additional Topics
- Cocoa price spike due to supply issues and market dynamics
- Extended movie discussion and reviews of Dune 2
- YouTube channel milestone updates and future plans
The episode concluded with a mix of serious policy discussion and lighter cultural commentary, maintaining the show's signature blend of expertise and entertainment.