(0:00) The Besties welcome Gavin Baker back on the show!

(1:20) Nvidia balance sheet questions, CoreWeave IPO, M&A/IPO bounce back

(16:22) US vs China in AI: Manus, China building its own Nvidia, and more

(28:37) The Administration's endgame for tariffs

(53:05) Signalgate: context and fallout

(1:09:42) El Salvador deportations

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Intro Music Credit:

https://rb.gy/tppkzl

https://x.com/yung_spielburg

Intro Video Credit:

https://x.com/TheZachEffect

Referenced in the show:

https://www.reuters.com/technology/coreweave-planning-cut-us-ipo-size-price-below-range-source-says-2025-03-27

https://www.reuters.com/world/us/us-adds-dozens-entities-export-restriction-list-2025-03-25

https://modelcontextprotocol.io/introduction

https://www.theinformation.com/articles/openai-plots-charging-20-000-a-month-for-phd-level-agents?rc=pxkrxo

https://www.youtube.com/watch?v=A8wJc7vHcTs

https://x.com/JohnArnoldFndtn/status/1905296181208416744

https://x.com/chamath/status/1904547884877701610

https://www.theatlantic.com/politics/archive/2025/03/trump-administration-accidentally-texted-me-its-war-plans/682151

https://www.whitehouse.gov/presidential-actions/2025/03/invocation-of-the-alien-enemies-act-regarding-the-invasion-of-the-united-states-by-tren-de-aragua

https://www.statista.com/statistics/696152/homicide-rate-in-el-salvador

https://x.com/Sec_Noem/status/1905034256826408982

(0:00) Welcoming Cyan Banister and David Sacks!

(3:23) Behind the scenes of the Besties in DC: White House, cabinet interviews, and more

(33:00) How M&A will be unleashed, Google buys Wiz for $32B, Tim Walz on Tesla

(49:09) Deep dive on Google/Wiz: breakup fee, impact on VC, ROIC, cloud advantage

(1:00:28) Treasury vs Fed tension, Bond markets, consumers, deregulation

(1:12:57) Space rescue, SpaceX vs China, lunar landing

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Intro Music Credit:

https://rb.gy/tppkzl

https://x.com/yung_spielburg

Intro Video Credit:

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Referenced in the show:

Bessent interview: https://youtu.be/lSma9suyp24

Lutnick interview: https://youtu.be/182ckTL2KBA

https://www.cnbc.com/2025/03/18/google-to-acquire-cloud-security-startup-wiz-for-32-billion.html

https://x.com/Tim_Walz/status/1902197581586833643

https://www.nbcnews.com/politics/politics-news/democratic-party-hits-new-polling-lowvoters-want-fight-trump-harder-rcna196161

https://x.com/elonmusk/status/1519735033950470144

https://www.ft.com/content/e6f516e8-2262-44d2-a030-7071b62b0be7

https://x.com/thesamparr/status/1902385138308104685

https://www.wsj.com/economy/central-banking/interest-rates-decision-federal-reserve-ed172223

https://www.cnbc.com/quotes/US10Y

https://www.nytimes.com/2025/03/10/technology/eric-schmidt-relativity-space.html

https://arstechnica.com/space/2024/11/chinas-long-term-lunar-plans-now-depend-on-developing-its-own-starship

https://www.nbcnews.com/politics/elections/steve-kornacki-white-men-white-women-gap-gender-gap-rcna196791

(0:00) Chamath and Friedberg welcome Commerce Secretary Howard Lutnick!

(1:10) Howard describes his 30+ year relationship with President Trump and his road from business to politics

(14:44) Running Trump's transition team, DOGE origin story, what it's like working for Trump

(38:01) Balancing the budget and fixing GDP

(52:21) Tariff history and strategy, global trade

(1:10:34) Trump Cards, building better government software, AI thoughts

(1:22:49) Sovereign Wealth Fund strategy

(1:37:16) How his family reacted to his new role

Thanks to our partners for making this happen:

Gemini: https://www.gemini.com/allin

Hims: https://www.hims.com | https://www.forhers.com

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Follow Secretary Lutnick:

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Intro Music Credit:

https://rb.gy/tppkzl

https://x.com/yung_spielburg

Intro Video Credit:

https://x.com/TheZachEffect

(0:00) Chamath and Friedberg describe their adventures in DC and welcome Treasury Secretary Scott Bessent!

(2:12) Scott's background, what drew him to equities, the role of macro investors

(7:22) The legendary trade that broke the Bank of England in 1992, and how it relates to Main Street vs Wall Street today

(21:30) Scott explains the Trump Administration's economic strategy

(32:45) How this administration plans to de-regulate the economy, Fed relationship, re-financing debt

(42:06) DOGE, DC grifts, shakeup at the IRS

(50:51) Re-engineering social security through the US SWF, how energy factors in

(1:00:02) Surprises, fixing affordability, thoughts on President Trump

Thanks to our partners for making this happen:

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Follow Secretary Bessent:

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Intro Music Credit:

https://rb.gy/tppkzl

https://x.com/yung_spielburg

Intro Video Credit:

https://x.com/TheZachEffect

(0:00) The Besties intro Andrew Schulz!

(3:29) Friedberg hits a quick Science Corner on the future of fertility

(9:35) Reacting to Gavin Newsom's new podcast: genius or pandering?

(19:36) Tariff experiment so far: risks, communication issues, and more

(30:44) Why the American Dream is broken and how to fix it: cracking the housing market, social security reform

(55:45) Aligning upside via increased stock market participation

(1:11:23) How Andrew blew up in comedy, going direct via YouTube, building a cancel-proof following

(1:22:25) State of America, conspiracy obsession, thoughts on Trump and DOGE

GET TICKETS for All-In Live: Miami

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Follow Andrew:

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Check out Andrew's new special LIFE:

https://www.netflix.com/title/81741999

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Intro Music Credit:

https://rb.gy/tppkzl

https://x.com/yung_spielburg

Intro Video Credit:

https://x.com/TheZachEffect

Referenced in the show:

https://x.com/chamath/status/1895948351516131515

https://x.com/ChineseEmbinUS/status/1897132043362034153

https://electrek.co/2025/02/07/renewables-90-percent-new-us-capacity-2024-ferc

https://www.wsj.com/opinion/bidens-mortgage-relief-fuels-higher-housing-prices-policy-loans-risk-cb0a1974

(0:00) Bestie intros

(1:41) Epstein files first release underwhelms

(4:40) Friedberg recaps his experience on Celebrity Jeopardy!

(14:22) State of autonomous robots

(21:06) Comparing annual reports from Stripe and Adyen; Stripe's network effects, stablecoin infra, and the pace of AI company building

(29:12) State of the market: stocks, tariffs, spending bill, the "great reset"

(49:07) Trump's Gold Card

(56:19) Sophisticated investor test, changing accreditation laws

(1:06:57) USPS, Bezos refocuses the WaPo's opinion page

Follow the besties:

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Follow on Instagram:

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Follow on LinkedIn:

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Intro Music Credit:

https://rb.gy/tppkzl

https://x.com/yung_spielburg

Intro Video Credit:

https://x.com/TheZachEffect

Referenced in the show:

https://x.com/bennyjohnson/status/1895195194947183047

https://x.com/adcock_brett/status/1895175400160133543

https://x.com/markjeffrey/status/1892735775550406828

https://x.com/pitdesi/status/1895117427480109238

https://x.com/jmover/status/1895129169882661100

https://coinmarketcap.com/currencies/tether

https://coinmarketcap.com/currencies/usd-coin

https://fred.stlouisfed.org/series/UNRATE

https://www.cnbc.com/2025/02/12/cpi-january-2025.html

https://x.com/StealthQE4/status/1894227465616171361

https://www.youtube.com/watch?v=7-ttACozP8s

https://www.cnbc.com/quotes/US10Y

https://x.com/chamath/status/1888371069322686895

https://polymarket.com/event/how-many-gold-cards-will-trump-sell-in-2025/will-trump-sell-2pt5k-5k-gold-cards-in-2025?tid=1740688723350

https://x.com/Jason/status/1706067572226244789

https://www.washingtonpost.com/business/2025/02/20/trump-usps-takeover-dejoy/

https://x.com/Jason/status/1894412028279693546

https://x.com/JeffBezos/status/1894757287052362088