All-In E85: SBF's crypto bailout, Zendesk sells for ~$10B, buyout targets, US diplomacy, AlphaFold & more

Key topics discussed in this episode:

Crypto Market Collapse

• Three Arrows Capital (3AC) ordered to liquidate after defaulting on loans
• Sam Bankman-Fried (SBF) providing bailouts to crypto companies like Voyager Digital ($200M) and BlockFi ($250M)
• Chamath explained how off-chain trading and unregulated leverage led to systemic risks
• Discussion of how retail investors were particularly hurt by the $2T crypto collapse
• Gary Gensler (SEC Chair) signaling increased regulation, viewing most crypto tokens as securities

Zendesk Acquisition & Tech Valuations

• Zendesk agrees to $10.2B private equity buyout after rejecting $17B offer earlier
• Discussion of shift from growth-at-all-costs to focus on profitability and cash flow
• Analysis of stock-based compensation practices in tech companies
• Prediction of more take-private deals for public tech companies struggling with new market reality

Russia-Ukraine Conflict

• Debate between Jason and David Sacks on NATO expansion and diplomatic approaches
• Discussion of impact on global markets, inflation, and energy prices
• Concerns about prolonged conflict leading to recession and food security issues

AlphaFold Breakthrough

• Recent paper showing how AlphaFold helped map nuclear pore complex structure
• Importance for understanding disease mechanisms and developing therapeutics
• Demonstration of AI's growing impact on biological research and drug discovery

Important moments:

Chamath explains systemic risks in crypto

David Sacks and Jason debate Russia-Ukraine conflict

Friedberg details AlphaFold breakthrough

The episode highlighted major shifts in markets, geopolitics and technology while showcasing some disagreement between the hosts on international relations and policy approaches.