All-In E183: Elon gets paid, Apple's AI pop, OpenAI revenue rip, Macro debate & Inside Trump Fundraiser
Episode 183 • 6/14/2024
Opening
- The episode kicked off with a surprise guest appearance from Tim, a Kiwi blackjack player now living in Calgary, who played a live hand with the group and won $25K
- The group agreed to roll the winnings into future episodes
David Sacks Hosts Trump Fundraiser
- Sacks provided behind-the-scenes details of hosting Trump at his home for a fundraiser
- Described extensive Secret Service preparations and street closures
- Trump spoke extemporaneously for an hour, showing high energy despite a long day of campaigning
- Chamath noted Trump was polite and intellectually sharp in person, different from media portrayals
- Most attendees were first-time donors who hadn't previously supported Republicans
Tesla & Elon's Pay Package
- Tesla shareholders voted to approve Elon's $56B pay package and move incorporation from Delaware to Texas
- 73% approved the package, matching the original 2018 approval percentage
- Group discussed implications for Delaware's status as premier corporate law state
- Stock popped 6% on the news
Apple's AI Announcements
- Apple announced integration with ChatGPT and various AI features for iOS
- Stock rose 10% adding ~$300B in market cap
- Features include AI-powered message prioritization, transcription, and Siri improvements
- Discussion of privacy implications of OpenAI integration
OpenAI Revenue Growth
- OpenAI hitting $3.4B annual run rate
- Revenue has roughly doubled in past 6 months
- Debate over sustainability of growth and competition from open source alternatives
- Discussion of enterprise vs consumer revenue mix
Macro Economic Discussion
- Inflation down to 3.3% but GDP growth only 1.3%
- Debate over whether economy is actually healthy
- Discussion of Fed policy and Jerome Powell's legacy considerations
- Mixed views on likelihood and timing of rate cuts
The episode concluded with a note about Peter Fenton's sister's rare cancer diagnosis and a call to help find similar cases for a Dana Farber study.