E29: Coinbase goes public, direct listings vs. IPOs, unions & more with Bestie Guestie Brad Gerstner

ℹ️ EPISODE INFO

Released

April 17, 2021

Duration

1h 18m

Channel

All-In Podcast

Watch on YouTube

▶ Open ↗

📝 EPISODE DESCRIPTION

Follow the besties: https://twitter.com/chamath https://linktr.ee/calacanis https://twitter.com/DavidSacks https://twitter.com/friedberg https://twitter.com/altcap Follow the pod: https://twitter.com/theallinpod https://linktr.ee/allinpodcast Intro Music Credit: https://rb.gy/tppkzl https://twitter.com/yung_spielburg Referenced in the show: Statista - Death rates from coronavirus (COVID-19) in the United States https://www.statista.com/statistics/1109011/coronavirus-covid19-death-rates-us-by-state Tweets: https://twitter.com/bgurley/status/1382737752794353664 https://twitter.com/DavidSacks/status/1382874547179950082 https://twitter.com/DavidSacks/status/1382466963885199362 https://twitter.com/DrewHolden360/status/1382477293797400581 https://twitter.com/chamath/status/1383073577386201094 Show Notes: 0:00 Bestie intro & crowning a new SPAC king 3:01 Coinbase's direct listing, comparing vehicles to go public & lockup periods, Sacks on Coinbase vs. NYT 12:06 David Sacks on running for governor 15:21 Brad & the besties react to the crazy Q1 in the markets, a16z's savvy buying moves with Coinbase, issues with short-term behavioral lock-in 32:37 Top insights from Bezos' letter to shareholders, Amazon employees reject the union in Alabama 50:27 Reacting to Drew Holden's recent thread on media double standards in covering each party 54:28 Federalism's benefits throughout COVID, State-by-state results reveal lockdowns didn't work, vaccine incentives and PR due to J&J decision 1:04:20 Degradation of faith in institutions accelerated by COVID 1:09:26 Republican Senator Josh Hawley calls for big tech antitrust reform, bypassing institutions for progress #allin #tech #news

🎤 SPEAKERS

• Jason Calacanis

  host

• Brad Gerstner

  guest

• David Friedberg

  host

• Chamath Palihapitiya

  host

• Narrator

  other

🧾 EPISODE SUMMARY

In this episode of All-In Podcast, featuring Jason Calacanis and Brad Gerstner, E29: Coinbase goes public, direct listings vs. IPOs, unions & more with Bestie Guestie Brad Gerstner explores coinbase listing, IPO disruption, unions, and failing institutions dissected bluntly The episode centers on Coinbase’s direct listing as a case study in how capital markets are changing, contrasting direct listings, SPACs, and traditional IPOs and their impact on founders, employees, and investors. Brad Gerstner explains how alternative IPO structures like Grab’s SPAC can reduce underpricing, remove unfair lock-ups, and curate better long‑term shareholders. The discussion widens to cover growth vs. value rotations, bubble dynamics in private vs. public tech valuations, and long‑horizon investing behavior. In the back half, the besties debate unions (Amazon and teachers), COVID policy failures, institutional distrust, state‑level “A/B tests,” and populist antitrust proposals, ending with a concrete idea to seed universal investment accounts for every American child.

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