E148: McCarthy ousted, border chaos, Cruise's robotaxi "accident" & more

1. 0:00 – 1:57

   Bestie intros: Jason's operation!

   1. JCJason Calacanis0:00

      How was your colonoscopy, by the way?

   2. DSDavid Sacks0:01

      (laughs) Oh, yeah.

   3. CPChamath Palihapitiya0:01

      Oh, well, uh, that was, uh-

   4. DSDavid Sacks0:03

      Talk about your anus.

   5. CPChamath Palihapitiya0:05

      Talk about my anus?

   6. DSDavid Sacks0:06

      (laughs)

   7. CPChamath Palihapitiya0:07

      Have you guys had yours recently? Who's had a colonoscopy?

   8. JCJason Calacanis0:10

      I had mine in December, my first one.

   9. CPChamath Palihapitiya0:11

      Was that your first one?

   10. JCJason Calacanis0:12

       I had it... Yeah, my first one.

   11. CPChamath Palihapitiya0:13

       Yeah, I was delinquent on mine too.

   12. JCJason Calacanis0:14

       They... It used to be 50, and they moved the age down to 45.

   13. CPChamath Palihapitiya0:17

       Yeah, they did move the age down. Friedberg, have you had one yet? That's a yes. We got a yes.

   14. DSDavid Sacks0:22

       I'm due.

   15. CPChamath Palihapitiya0:23

       Sacks, have you had yours?

   16. DSDavid Sacks0:24

       I'm due.

   17. CPChamath Palihapitiya0:25

       By the way, I got a report, because, uh, actually, Sacks, you did have one, and they found, uh, a bunch of DeSantis merchandise up there.

   18. JCJason Calacanis0:31

       (laughs)

   19. DSDavid Sacks0:31

       (laughs)

   20. CPChamath Palihapitiya0:31

       They found a DeSantis hat, a DeSantis pin. Tons of DeSantis stuff right up your ass. (laughs)

   21. DSDavid Sacks0:36

       (laughs)

   22. CPChamath Palihapitiya0:37

       At our age, we should be four for four on the colonoscopies. We're one for four. They gotta get that stat up. Every week, I wanna check in here. Propofol, uh, Mi-... Shout out Michael Jackson, is the greatest drug ever. I counted 15 seconds, I was knocked out. I woke up, and the next thing I know, I was in m- the recovery room.

   23. JCJason Calacanis0:53

       Were you groggy?

   24. CPChamath Palihapitiya0:54

       I was not groggy. No, I was fine. You literally don't remember anything, no pain, no suffering. I did have-

   25. JCJason Calacanis0:59

       But were you able to have a regular schedule the rest of the day?

   26. CPChamath Palihapitiya1:02

       Not really. So, uh, I don't wanna dissuade anybody from having this, but you do have to take a drink called Prep, which clears you out. And when I say clears you out-

   27. JCJason Calacanis1:11

       Oh, I love that. Oh, I love it. I love that.

   28. CPChamath Palihapitiya1:12

       ... it clears you out. Yeah, I hit a record low weight. I'm 168 now, so that was the one benefit, but I di-

   29. JCJason Calacanis1:17

       Well, how much weight did you lose?

   30. CPChamath Palihapitiya1:18

       Three pounds, maybe?
2. 1:57 – 5:03

   Airtable correction

   1. DFDavid Friedberg1:57

      in.

   2. CPChamath Palihapitiya1:58

      All right, everybody. Welcome to another amazing episode of the All In podcast, Episode 148. The docket is absurd. Uh, the number of lawsuits and the amount of news that has happened in just the last week has been insane. Uh, but we wanna, at the top of the show, do a quick correction, right? It's an all-in correction. If we make a mistake here, we don't hide it in the show notes. We just talk about it right up front. Sacks, you were in touch with the Airtable CEO, Howie Liu, who's been a guest on This Week in Startups. I'm gonna have him on again, actually, soon. Maybe you could just discuss what we got wrong, e- and how we got it wrong-

   3. DSDavid Sacks2:34

      Yeah.

   4. CPChamath Palihapitiya2:34

      ... and then what the correct facts are about Airtable, just quickly, here at the top of the show.

   5. DSDavid Sacks2:38

      Yeah. Well, we had a segment a couple weeks ago where we were talking about these high-priced, late-stage unicorn rounds needing to get revalued. And the IPO of Instacart was a good example of this, where, yes, it IPO'd at about 10 billion, but the last private round was at 39 billion. So, there is a big wave of revaluations or down rounds coming, and we cited some numbers off the internet regarding Airtable. As it turns out, not everything on the internet is true.

   6. CPChamath Palihapitiya3:07

      (laughs) And you're talking about-

   7. DSDavid Sacks3:08

      Um... (laughs)

   8. CPChamath Palihapitiya3:08

      ... specific journalists might've gotten it wrong? We would say which ones?

   9. DSDavid Sacks3:11

      Well, this was actually a, a tweet storm on X-

   10. CPChamath Palihapitiya3:14

       Uh-huh.

   11. DSDavid Sacks3:14

       ... that-

   12. CPChamath Palihapitiya3:14

       Mm.

   13. DSDavid Sacks3:14

       ... from a financial account that, you know, appeared on the surface to be correct. And in fact, it did have some correct information, but it was outdated. It was stale. So, just the, the quick correction here is that the, the amount of ARR that we cited, which I think was around 150 million, was accurate as of the time they did the last round, but that was like three years ago. Furthermore, the growth rate that was cited, which I think was around 15%, that was off. That was off by about a, a 3X, uh, multiple. So, when you put all these things together, I wasn't able to get the exact numbers, but if you just do a little bit of napkin math here, my guess is that Airtable is somewhere in the half a billion of ARR club, with pretty decent growth. And if you look at the public comps for that, I think the public comps would be something like a, a Monday, you know, which is doing-

   14. CPChamath Palihapitiya4:08

       Sure.

   15. DSDavid Sacks4:09

       ... five to 600 million of ARR coming off a 50% growth rate, maybe forecasting 30% for the next year. That company has been hovering around the seven or eight billion dollar valuation range.

   16. CPChamath Palihapitiya4:22

       12X.

   17. DSDavid Sacks4:23

       Yeah, the claim that was made on X was that Airtable wasn't even worth the 1.4 billion that it's raised in, uh, VC money. I think that's way off. I mean...

   18. CPChamath Palihapitiya4:31

       Yeah.

   19. DSDavid Sacks4:32

       And furthermore, you know, what we heard is that Airtable still has something like two-thirds of the money that it's raised in the bank. So, look, is Airtable worth the 11 billion that it was valued at at the peak? Probably that's not what the public comps indicate. Would I be a buyer, personally, at roughly half that price? For sure.

   20. CPChamath Palihapitiya4:51

       For sure.

   21. DSDavid Sacks4:51

       And I think it'll-

   22. CPChamath Palihapitiya4:53

       Yeah, go right ahead.

   23. DSDavid Sacks4:53

       ... have a nice IPO at some point when they decide they wanna do it.

   24. CPChamath Palihapitiya4:56

       So, just an important reminder for everybody is, uh, you know, listen, if information's on the interwebs, it may not be correct.

3. 5:03 – 25:20

   McCarthy ousted as Speaker of the House, what the eight Republicans are looking for, solving the omnibus spending problem

   1. CPChamath Palihapitiya5:03

      But the top news story in the country is, uh, unequivocally, Kevin McCarthy being ousted as Speaker of the House. On Tuesday, he was voted out in a 216 to 210 vote, with eight far-right Republicans, uh, joining all of the Democrats, uh, so those eight GOP members include, or are led by, Matt Gaetz, obviously, a group of, I guess, what would be best described, Sacks, as Tea Party-esque members of, um, the, the GOP contingent? They, they care mostly about spending and curtailing spending. Am I correct, Sacks?

   2. JCJason Calacanis5:38

      Well, don't for- don't forget all the Democrats.

   3. CPChamath Palihapitiya5:40

      Well, yeah, I'm putting the Democrats on... We're already accounting them. I'm just talking about the eight who made this tip over.

   4. DSDavid Sacks5:44

      The media is trying to portray them as these far right, you know, wingers, and I don't think you can necessarily say that, because I don't think Nancy Mace fits in that group. I think she does care about spending, but she's not this like, MAGA-

   5. CPChamath Palihapitiya5:54

      Is it far right to care about spending? I mean, far right, to me, would be more MAGA.

   6. DSDavid Sacks5:56

      Well, that's exactly right. I mean, anything that the media-

   7. CPChamath Palihapitiya5:58

      Yeah.

   8. DSDavid Sacks5:58

      ... doesn't like, they label far right.But I think, you know, Nancy Mace is a good example of somebody who is very concerned about spending discipline-

   9. CPChamath Palihapitiya6:08

      Huh.

   10. DSDavid Sacks6:08

       ... but is not like a MAGA-type Republican.

   11. CPChamath Palihapitiya6:11

       But, but is the... and just to, to just refine this one more time before I keep going, those eight would... the common thread would be control spending. "We're out- we have out of control spending" is, is the reason-

   12. DSDavid Sacks6:22

       Well-

   13. CPChamath Palihapitiya6:22

       ... they're voting a no vote for Kevin McCarthy.

   14. DSDavid Sacks6:25

       I think that there are a couple other pieces to this. Um, if you listen to Nancy Mace and some of the other people that were involved here, a lot of the issue comes down to trust. They felt like they could no longer trust Kevin McCarthy. They felt like the things that he had told them-

   15. CPChamath Palihapitiya6:38

       Hmm.

   16. DSDavid Sacks6:38

       ... in private were not matching up with the things that he would then later do or that he would say in public or that he would tell the Biden administration. So I think that-

   17. CPChamath Palihapitiya6:48

       And their main issues were?

   18. DSDavid Sacks6:50

       Well, I think there's a couple.

   19. CPChamath Palihapitiya6:52

       Yeah.

   20. DSDavid Sacks6:52

       One was on spending. He had promised that he would stop doing these giant omnibus spending bills where everything would be lumped into one bill. You get, like, 24 hours to read it and then you gotta vote up or down on whether you pass this giant spending bill or shut down the government. Everyone feels forced to vote for it. He had promised to do single-subject spending bills.

   21. CPChamath Palihapitiya7:11

       So military, education, welfare, whatever.

   22. DSDavid Sacks7:14

       Yeah, that goes through a regular budget process. So, the, th- they felt like he had broke his promise on that. I think, also, on the issue of Ukraine, there were some trust issues there because what he was telling Republicans in private was not what he was telling the Biden administration in private, where he was telling the Biden administration, "Don't worry, we're gonna get the Ukraine funding through." But then he was sounding different notes with various Republicans. And I think his true feelings on the matter came out in this press conference he did after he was ousted, in which he goes on this long rant about how Putin's the second coming of Adolf Hitler and if we don't stop him now, he's gonna be, you know, marching into Paris. And, I mean, it was sort of this, like, unhinged, second-grade, American history-style, uh, view of, of the war, which regardless of what y- your view is on it, I think it expressed his true feelings on the matter, which is that when push came to shove, he's more hawkish than Joe Biden-

   23. CPChamath Palihapitiya8:12

       Yeah.

   24. DSDavid Sacks8:12

       ... on the issue of Ukraine. He feels that Biden has not done enough. It's safe to say that that position is now very out of step with the Republican caucus. So, he is pushing a view on Ukraine that is now very out of step. Moreover, I think that if he had just acted as an honest broker on the issue, which is to say, "Listen, I'm just going to represent the views of my caucus, my caucus is divided on the issue, I'm just gonna let them have an up or down vote on it," then I think he could have survived on that issue. But instead, again, I think he was trying to manipulate things in a direction of continuing Ukraine funding regardless of the views of his caucus.

   25. CPChamath Palihapitiya8:49

       Gaetz wants to end CRs, continuing resolutions. Uh, those extend the funding deadline from October 1st to the holidays, claiming this buys Congress time to lump all those individual appropriation bills into the omnibus bill, as you correctly pointed out. Gaetz wants to end that practice and return to regular order, passage of individual annual spending bills, not the omnibus.

   26. JCJason Calacanis9:09

       The context that I think is important that I think is... that the American public should understand is, how is this actually supposed to work so that we don't normalize what these CRs are? So, the way that it's supposed to work is that Congress is authorized by law to create 12 spending bills a year, and each of those bills have to map to the large parts of the government. So, there's a military bill, there's an education bill, there's a, you know, HHS bill, et cetera, et cetera, and those are supposed to be negotiated on the House floor and passed. The Senate is allowed to do a version of the same. If those two things are different, meaning the Senate doesn't take the House bill and creates their own, the law says that you have to create what's called a conference, and a h- a group of people, half senators and half congresspeople, sit in a room, hash out and mediate a resolution, and that is what goes to the president's desk to be signed. That's how it used to be done. But about a decade ago, all of that broke down. And now what happens is you have this thing that Sachs mentioned, which is called the CR, which is essentially a backdoor. It's this release valve that is supposed to be a in-emergency break glass-type measure that has become fundamentally normalized. And I think what's important to call out is what happened here isn't getting the just attention because it's being characterized on party lines and not actually being characterized with how America is legally supposed to work as defined in the Constitution. So, the Congress is supposed to pass 12 spending bills a year. It's then supposed to get negotiated or approved by the Senate, and then it should go to the president. When you override that with these continuing resolutions, this is the issue that Friedberg's been talking about. You balloon the deficit, you balloon the debt, you have all kinds of pork barrel spending, there's zero accountability, the bullets cost $6,000, the umbrella holders cost $15,000, all of this nonsense that just brings us closer and closer to some sort of default or economic contagion. So, I actually look at this issue not as Republican versus Democrat, the far right wing. I think that's misguided interpretation by the mainstream media. I think what this is is the first chance in a while where you're not allowed to pass a continuing resolution, where you will have to propose 12 bills the way the law says you're supposed to. And what that'll mean is that you'll have to negotiate a compromise to get those 12 bills passed. Now, what's crazy is the Senate actually has six of those bills on their desk, and they haven't even negotiated it. And I think the reason is because they know that the CR is always in the offing. But if this continuing resolution is not allowed because you fired the speaker...... then they'll have to negotiate those bills. And part of what McCarthy did to get elected was say, "We will return to the law and not use the in-emergency break glass." And I think that's what's not... it's not understood well, I think, by Americans as that is the actual process. We haven't been doing it for a decade. And I'm not a fan of Gaetz, but I'm glad that somebody did this because somebody has to draw a line in the sand. The Republicans and Democrats equally have been responsible for breaking the way the American government spends money. And so, this is the best way to fix it.

   27. CPChamath Palihapitiya12:37

       Freeberg, you agree with what's gone down here and that, th-

   28. DSDavid Sacks12:40

       I hope.

   29. CPChamath Palihapitiya12:40

       ... and that this is worth shutting the government down, et cetera, or do you think this is, like, uh, where to make the stand? 'Cause you've been very pro-controlling spending, uh, as have I. And so do you think that this is the, the best way to do it, I guess?

   30. DSDavid Sacks12:55

       It's more about the United States is facing a fiscal emergency. National debt reported by the Treasury Department increased by $275 billion in a one-day report yesterday. $275 billion in a day.
4. 25:20 – 44:39

   US Southern Border: Understanding the situation based on data

   1. CPChamath Palihapitiya25:20

      Let's go to another troubling situation, what's happening at the southern border. Obviously, videos of migrants crossing the southern border are all over X, Reddit, YouTube, et cetera. One side saying it's chaos, the other side, uh, arguably been ignoring it. So let's start with the two numbers that we actually know, put a bunch of time into trying to figure out if there are any accurate numbers, talked to a bunch of people on Twitter and other places. There are only, uh, we have very, very flawed data on what's actually happening there, we do have anecdotal videos. Obviously, uh, our friend, Elon, went down to the border and did a video himself. The best data, with the caveat that it's very flawed, is the count of encounters. This is not folks who get through, (laughs) this is folks who were encountered. So this is the official southern land, uh, border encounters from the US Customs and Border Protection Agency since 2022. 2020 and 2021, there were obviously COVID issues on the border so it was much more locked down. Uh, half a million people in 2020, 1.7 in 2021, 2.4, rounding up there, and in 2023, supposedly rounding up, two million through 10 months, tracking on pace for 2.3, the exact same as last year. However, it certainly doesn't look like that it's the exact same. Again, that's from the Border Patrol, and that is encounters, not actually people who got through. And then the border states are saying that those numbers are wrong and there's a lot more people getting through, and Eric Adams in New York, where a lot of these people are being sent, and this has obviously been the most politicized issue, I think, of the last decade. Governor Abbott in August of 2022, quote, "New York City is the ideal destination for these migrants who can receive the abundance of city services and housing that Mayor Adams has boasted about within the sanctuary city." Here are the clips, and then I'll get your responses from those when we get back.

   2. NANarrator27:17

      This is horrific when you think about, uh, what, uh, the governor, uh, is doing, the governor of Texas, but we are going to set the right message, the right tone of being here for these families.

   3. NANarrator27:29

      Before we began busing illegal immigrants up to New York, it was just Texas and Arizona that bore the brunt of all of the chaos and all the problems that come with it. Now the rest of America is understanding exactly what is going on.

   4. CPChamath Palihapitiya27:46

      All right. So this is obviously something that New York City is unable to handle. Those are from August of last year when this was flaming up. According to Abbott, Texas has given bus tickets to 42,000 migrants, and, uh, as of late September, 119 migrants have arrived in New York City since the spring of '22. About 13% of New York City migrants have been bused in from Texas. I'll stop there and just get your general reactions to what you all believe is happening at the border since we're getting a highly politicized take on each of these, it's become super polarized, and the numbers, uh, any accurate numbers do not exist. Sachs?

   5. DSDavid Sacks28:24

      I don't think it's hard to understand what's going on at the border. I think there are people who want to-

   6. CPChamath Palihapitiya28:30

      Well, I said it's hard to understand the numbers of what's going on at the border, yeah.

   7. DSDavid Sacks28:32

      I don't even think the numbers are that hard.

   8. CPChamath Palihapitiya28:34

      You have a better source of numbers?

   9. DSDavid Sacks28:35

      I have some numbers that are similar to yours, but-

   10. CPChamath Palihapitiya28:37

       Okay.

   11. DSDavid Sacks28:38

       So Statista goes back to 2019. So the numbers I have are about, in 2019, which is when Remain in Mexico went into effect, the number was 851,000. Then it went down to 400,000 because of COVID and Title 42. Then in 2021, we had about 1.7 million, which was a new record. Then in 2022, we were up to 2.7 million, which was a new record. And the question is what is happening in 2023. Obviously, we don't have a full year of data, but given that we've eliminated Remain in Mexico and Title 42, I don't think anybody seriously doubts that we're headed for a new record. And in fact, The Washington Post had articles in August and September saying that those months were all-time records and now they're surpassing 11,000 daily migrant encounters at the border just twice last week. So, and, you know, what- what Elon reported from the border-

   12. CPChamath Palihapitiya29:31

       Can you send that link? Can you send that link so we can pull it up?

   13. DSDavid Sacks29:33

       Yeah, I'll have to-

   14. CPChamath Palihapitiya29:34

       And then also, just so you know, Statista-

   15. DSDavid Sacks29:34

       No, that was NBC News, that was NBC News.

   16. CPChamath Palihapitiya29:36

       Okay. I was about to say, Statista is, um, an aggregator. They don't do primary research, as you know. So, uh, which one are we using for primary researching?

   17. DSDavid Sacks29:41

       Yeah, but tho- those numbers were pretty similar to- to yours.

   18. CPChamath Palihapitiya29:44

       Yeah. Maybe from the same source, who knows?

   19. DSDavid Sacks29:45

       We also have the video evidence-

   20. CPChamath Palihapitiya29:47

       Yeah.

   21. DSDavid Sacks29:47

       ... we have the fact that, you know, Elon went down there and reported exactly what we're seeing in other contexts, which is new records virtually every day and every week and every month. The Border Patrol agents are basically being overrun, and so you made the correct point that this only measures encounters, it doesn't m- uh, measure the actual number of people going through. Well, if Border Patrol is overrun, then the number of encounters relative to the number of people getting through is obviously gonna be very understated. So-I think we're on track for another huge record in 2023. And the point is that the pace is accelerating. Elon gave the simple math. There's eight billion people in the world. How many of them would want to be in the United States if they could? Probably billions.

   22. CPChamath Palihapitiya30:29

       At least half of them, yeah.

   23. DSDavid Sacks30:30

       At least half of them, and I don't blame them. Okay? I wanna be in their instance too.

   24. CPChamath Palihapitiya30:34

       Best country in the world. Yeah, yeah.

   25. DSDavid Sacks30:35

       Okay. But obviously, we can't handle all the people who wanna be here. And the word has gone out via social media, via word of mouth that the border is effectively open and we've seen numerous videos. It wasn't just Elon. When RFK went down there to Yuma, Arizona, they-

   26. CPChamath Palihapitiya30:51

       It was 100 different countries.

   27. DSDavid Sacks30:51

       ... there was a big hole in the wall-

   28. CPChamath Palihapitiya30:53

       Yeah.

   29. DSDavid Sacks30:53

       ... and people were just lining up and, and e-

   30. CPChamath Palihapitiya30:54

       But it was 100 different countries, right? I mean, we, we, it was not just Mexico.
5. 44:39 – 1:09:09

   Cruise robotaxi "accident" in SF, lack of risk tolerance limiting technological progress in the West

   1. DSDavid Sacks44:39

      of that divide.

   2. CPChamath Palihapitiya44:40

      All right. So moving on to our next topic, uh, there was a notable accident with a Cruise robo-taxi in San Francisco this week, or not. This is being framed by some as the first automated Cruise vehicle to get in an accident, but what actually happened is not accurate. So there was a hit-and-run incident in San Francisco when it was struck by a human driver. That human driver fled the scene. The hit and run launched, tragically, the woman underneath a Cruise vehicle. The Cruise vehicle braked aggressively, according to Cruise, but stopped with its rear tire on top of the woman's leg. Police asked Cruise to keep the vehicle in place and lock it, which they did. Emergency respondents arrived and used the jaws of life to get the car off the woman's leg. Local media picked this story up, and they reported-

   3. DSDavid Sacks45:27

      So wait. The police asked Cruise to leave the car, leave the car on the woman's leg?

   4. CPChamath Palihapitiya45:33

      Yes. I, I think-

   5. DSDavid Sacks45:34

      Why would they do that?

   6. CPChamath Palihapitiya45:36

      Well, I think actually, um, sometimes-

   7. DSDavid Sacks45:38

      That doesn't make sense at all.

   8. CPChamath Palihapitiya45:39

      ... moving... No, no. I, I, I do think, um, from my time as an EMT, sometimes moving the person can cause more damage than leaving it until you have the emergency services on the scene. So they like to wait for emergency services unless... Because moving it-

   9. DSDavid Sacks45:51

      Oh, 'cause they could bleed out.

   10. CPChamath Palihapitiya45:52

       ... you could have a broken bone hit your fem-

   11. DSDavid Sacks45:53

       Oh, right, right, right.

   12. CPChamath Palihapitiya45:53

       ... your femoral artery, and then you could bleed out. So they just say, "Stay where you are. Don't make any more movements until the EMTs are here."

   13. DSDavid Sacks45:59

       Dude, and leave the car on top of them? That's ridiculous. Oh, God.

   14. CPChamath Palihapitiya46:02

       It's on the person's leg, so that-

   15. DSDavid Sacks46:04

       Yeah.

   16. CPChamath Palihapitiya46:04

       ... would mean that they're not in any danger. It might be painful, but if you were to move them... I was taught this when I was an EMT. You... If you move people, you have to be very careful because you could cause a spine injury, they could become paralyzed, or you could cut a major artery. You gotta be very-

   17. DSDavid Sacks46:18

       How long were you an EMT?

   18. CPChamath Palihapitiya46:19

       I was the first class of what was called EMTFRs, first responders, and I worked at Bravo Ambulance in Brooklyn as... on a volunteer one for about three or four years.

   19. DSDavid Sacks46:28

       Did you have, like, a tight outfit, like a tight polo?

   20. What did you wear?

   21. Like skinny jeans? Did you have skinny jeans?

   22. CPChamath Palihapitiya46:33

       You wear green pants and a white-collared shirt, and, um... Yeah, I never told you that's the first call I ever got? I never told you that story?

   23. DSDavid Sacks46:41

       But were you, like... Were you, like, a sexy paramedic or were you just, like, a paramedic

   24. CPChamath Palihapitiya46:44

       I can be whatever you want me to be, Shamov. Whatever works for your fantasies, I'll be.

   25. DSDavid Sacks46:48

       He's blushing. Look, he's blushing.

   26. CPChamath Palihapitiya46:49

       But I'll tell you my first call. (laughs)

   27. DSDavid Sacks46:50

       You are. You were a sexy paramedic.

   28. CPChamath Palihapitiya46:52

       I was a little sexy as a paramedic.

   29. DSDavid Sacks46:53

       Shamov got him blushing.

   30. CPChamath Palihapitiya46:55

       Here's my first call. I swear to God. It's the night before Thanksgiving, Wednesday night. It's a big night in Brooklyn. I don't know for other places, but the night before Thanksgiving, everybody goes out and parties. So big Wednesday happens, first call comes in. It's... I was, I was originally the person who picked up the... I was the operator at the 911. But then my second job, I was on the bus. And so first call, first shift is big Wednesday. Guy gets... We get a call that a guy got stabbed. We go. The guy is outside TJ Bentley's, and I kid you not, the guy who was in charge of the ambulance says, "Cut the jacket off." I take my shears, and we have these really sharp scissors, and boom, we go right up the sleeve, we cut his jacket. He goes, "Oh, my members-only jacket!"
6. 1:09:09 – 1:11:12

   JSX facing potential regulatory capture from incumbent airlines and Friedberg's trip to The Sphere

   1. CPChamath Palihapitiya1:09:09

      I think. Okay. In, uh, Bill Gurley's Regulatory Capture Corner, we have an interesting story about JSX. If you don't know JetsuiteX, that's what the JSX stands for, this is an airline that offers hop on public charter flights out of FBOs, uh, tiny airports usually reserved for private jets, and they give passengers the private jet experience for the cost of roughly a first class ticket at major airlines, maybe double the cost of a coach ticket. 700 bucks one way from Westchester to Miami, $1400 round trip. Not a bad deal. By comparison, United on the same day are between 5 and 800 for first class from Newark to Miami. JetsuiteX has 47 airplanes with 1200 crew members.

   2. DSDavid Sacks1:09:56

      Let me cut in and give you my anecdote. On Saturday I took a JSX flight from-

   3. CPChamath Palihapitiya1:10:00

      Okay.

   4. DSDavid Sacks1:10:01

      ... Vegas to Oakland.

   5. CPChamath Palihapitiya1:10:03

      What were you doing in Vegas?

   6. DSDavid Sacks1:10:05

      I went to the opening night of the U2 concert at The Sphere.

   7. CPChamath Palihapitiya1:10:07

      Opening night at The Sphere? At The Sphere?

   8. DSDavid Sacks1:10:09

      It was incredible. Yeah, The Sphere.

   9. CPChamath Palihapitiya1:10:11

      I looked at the photos and the videos. I wasn't super impressed. Is it impressive in person? 'Cause it didn't come across in the videos.

   10. DSDavid Sacks1:10:17

       Yeah. It's incredible. You gotta go see it. I think it's the first-

   11. CPChamath Palihapitiya1:10:19

       Incredible how?

   12. DSDavid Sacks1:10:20

       So it's the first, like, live experience that I think you have kind of live analog elements like a band and this incredibly immersive digital experience because it's a-

   13. CPChamath Palihapitiya1:10:30

       Mm-hmm.

   14. DSDavid Sacks1:10:30

       ... 360-foot tall dome and the entirety of the interior of the dome is a digital screen. So, there were these scenescapes that they created that were, like, dynamic video on these walls that-

   15. CPChamath Palihapitiya1:10:42

       Mm-hmm.

   16. DSDavid Sacks1:10:42

       ... it's hard... It... I don't think the videos do it justice. Like, when you're actually-

   17. CPChamath Palihapitiya1:10:46

       Yeah, it didn't do it justice, yeah.

   18. DSDavid Sacks1:10:46

       When you're in this room during this shot right here, and I was kinda sitting center. I was also... I went down on the floor for a while.

   19. CPChamath Palihapitiya1:10:51

       Looks like you're in the desert or something.

   20. DSDavid Sacks1:10:53

       It's like you're there. Dude, I mean, it's-

   21. CPChamath Palihapitiya1:10:55

       Wow.

   22. DSDavid Sacks1:10:55

       ... it's, it's inexplicable. It's more real than VR. It's like you're in this world and-

   23. CPChamath Palihapitiya1:11:01

       Mm.

   24. DSDavid Sacks1:11:01

       They even did these amazing integrated scenes where they had like helicopters flying overhead and then they had spotlights coming out of the ceiling while the helicopters were flying in the video above you. They did-

Episode duration: 1:18:45