All-In E47: Facebook's week from hell, Ellen Pao on sexism in Elizabeth Holmes coverage, Newsom wins & more

California Recall Election Post-Mortem

• The recall cost over $300M but Sacks argues this pales in comparison to the $30B EDD fraud scandal
• Newsom won decisively after initially being in a close race, helped by:
  • Consolidating opposition around Larry Elder who became an easy target
  • Successfully nationalizing the election around Trump/COVID
  • Getting schools reopened before the vote
• Group discusses how recall threat helped moderate some of Newsom's COVID policies

Facebook's Instagram Teen Research Controversy

• Wall Street Journal revealed internal Facebook research showing Instagram negatively impacts teen mental health
• Research found "Instagram makes body image issues worse for 1 in 3 teen girls"
• The group debates whether social media impacts are analogous to tobacco industry harms
• Discussion of potential regulatory intervention and age restrictions (consensus supports 16+ age limit)

Elizabeth Holmes Trial & Tech Industry Accountability

• Ellen Pao wrote NYT op-ed arguing Holmes coverage shows gender bias compared to male founders
• Group largely disagrees, noting:
  • Media coverage focused on Holmes' persona because she deliberately modeled herself after Jobs
  • Key difference is Holmes allegedly committed actual fraud by falsifying test results
• Broader discussion of fraud vs "visionary promises" in startup culture
• Chamath notes distinction between aspirational future claims vs lying about past/present capabilities

Mailchimp Acquisition

• Intuit acquiring Mailchimp for $12B in largest bootstrapped exit ever
• Debate around employee equity - Mailchimp opted for high salaries/bonuses instead of equity
• Discussion of pros/cons of bootstrapping vs VC funding in current environment

The episode also touched on AOC's Met Gala appearance and merchandising efforts, with the hosts offering mixed views on the messaging and commercialization aspects.