All-In E53: Wealth tax, inflation as a capital allocator, big tech earnings, paternity leave & more
Episode 53 • 10/30/2021
Paternity Leave Debate
- Discussion sparked by Joe Lonsdale's controversial tweet calling men who take 6 months paternity leave "losers"
- Group generally disagreed with Lonsdale's harsh language but acknowledged challenges of extended leave for leaders/founders
- Chamath shares personal experience, planning to take 3-4 weeks for his newborn daughter
- Group discusses how resources and circumstances affect ability to take leave
Inflation & Economic Concerns
- Sacks warns about persistent inflation concerns and challenges with addressing it given high government debt levels
- Discussion of inflation disproportionately hurting middle/lower class while benefiting those with assets
- Concerns about potential asset bubbles across stocks, crypto, real estate
- Group debates investment strategies given current market conditions
Big Tech Earnings
- Strong praise for Google's Q3 earnings ($65B revenue, up 41% YoY)
- Friedberg details Google's technical advantages and infrastructure moat
- Discussion of Meta (Facebook) rebrand and VR/AR strategy
- Debate about whether Meta rebrand signals defensive concerns about core business
Meta Rebrand & VR/AR Future
- Mixed reactions to Facebook's Meta rebrand and metaverse presentation
- Jason highly skeptical of Zuckerberg's vision and control
- Discussion of whether AR will ultimately be more important than VR
- Debate about potential winners in AR/VR space (Apple, Google, Microsoft vs Meta)
Key Insights
- Concerns about current market conditions with everything at all-time highs
- Debate about whether inflation is temporary or persistent
- Strong performance of big tech companies but questions about sustainability
- Mixed views on Facebook's strategic pivot to Meta and the metaverse