All-In E56: Constitution DAO, Rittenhouse trial coverage, private sector efficiency vs the government

Episode 56 • 11/20/2021

Constitution DAO Discussion

The group discussed the formation of Constitution DAO which raised $46M in 48 hours to bid on a rare copy of the US Constitution
Chamath argued that while DAOs have potential, this particular case showed many flaws including Ethereum's high gas fees and transparency issues that hurt their bidding strategy
David Sacks suggested the choice of a collectible asset may have been to avoid securities laws, but this limits DAOs' broader applicability
Ken Griffin of Citadel ultimately outbid the DAO by $1 over their publicly declared maximum bid

The group criticized mainstream media coverage of the Rittenhouse trial for pushing false narratives and omitting key facts
Friedberg shared how initial media coverage led him to false assumptions about the racial elements of the case
They discussed how traditional media is losing credibility while alternative media sources like Substack are gaining prominence
The conversation touched on broader media bias issues and the need for more factual, less emotionally-driven coverage

Discussion of SpaceX vs NASA costs - NASA spent $360B over recent years while SpaceX accomplished similar goals with $7-11B
The group criticized Bernie Sanders' attempts to "take back" the space program from private companies
Friedberg explained how government procurement and transparency requirements lead to cost inflation
They discussed how private companies like Amazon and SpaceX are more effective at innovation and cost reduction than government programs