Socialists Sweep NYC, China Catches Up in Coding, AI Memory Crunch, Micron's Blowout Quarter

(0:00) Gavin Baker and Travis Kalanick join the show! (1:05) Mamdani-endorsed socialists sweep congressional primaries in NYC (22:51) Future of the Democratic Party, the Israel issue, social media bans (45:12) China's open-source AI catch up, distillation, OpenAI's new chip (1:01:46) Micron smashes earnings, AI's memory crunch hitting Apple and consumer hardware (1:10:17) The math behind distributed compute and datacenters in space (1:27:22) IPO update: Anthropic at $3T, SpaceX float, Cerebras drops after breaking deal price Follow Gavin: https://x.com/GavinSBaker Follow Travis: https://x.com/travisk Apply for Summit 2026: https://allin.com/events Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://abcnews.com/Politics/clean-sweep-3-candidates-endorsed-mamdani-win-primaries/story?id=134152579 https://polymarket.com/event/mamdani-team-sweeps-primaries-20260618232357710 https://x.com/thestustustudio/status/2067356255916536120 https://www.nbcnews.com/politics/2026-election/espaillat-ny-house-primary-loss-district-13-avila-chevalier-rcna351127 https://x.com/EndWokeness/status/2069645066252034288 https://x.com/america/status/2069622732279402804 https://x.com/realmaalouf/status/2069433391162798337 https://x.com/JoshBlockDC/status/2070108811851882691 https://x.com/EndWokeness/status/2069776474429624684 https://x.com/EndWokeness/status/2068829255786803368 https://www.pewresearch.org/short-reads/2026/04/07/negative-views-of-israel-netanyahu-continue-to-rise-among-americans-especially-young-people https://x.com/PirateWires/status/2069146641266094417 https://www.wsj.com/economy/the-data-center-boom-is-sparking-a-third-wave-of-inflation-926adc6e https://x.com/jietang/status/2067580270078030088

(0:00) David Friedberg intros GameStop CEO Ryan Cohen! (1:56) Building and selling Chewy for $3.35B, how to compete with Amazon in e-commerce (11:58) Post-Chewy life, activist investing, the road to GameStop CEO, expanding into collectibles (26:39) Why he wants to buy eBay for $56B: Massive potential, poor execution (slow growth, rising expenses, seller relationship failure) (43:58) Ryan's three-part vision for eBay: Cut costs, expand live commerce, create digital in-game collectible marketplace (49:33) Why eBay has rejected the offer, media bias against GameStop Thanks to our partners! AppLovin Ads — AppLovin's AI advertising platform reaches over a billion daily active users across mobile games. Full-screen video ads with a 35-second median watch time. Advertisers are profitably spending hundreds of thousands of dollars a day and advertiser access is still in closed beta. The window is open at https://applovin.com/ALLIN Nasdaq - Positioned at the nexus of technology and the capital markets, Nasdaq provides premier platforms and services for global capital markets and beyond with unmatched technology, insights and markets expertise. https://www.nasdaq.com Follow Ryan: https://x.com/ryancohen Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect

(0:00) Bestie intros! (2:41) The New Oligarchs, America's incoming politburo, and learned helplessness (14:18) SpaceX's record breaking IPO, $60B Cursor acquisition, and trillionaire reactions (33:34) Behind the scenes of Anthropic's Fable ban (1:01:18) Claude psychoanalyzes its creator, Dario Amodei (1:14:31) Iran War MOU and the market impact Apply for Summit 2026: https://allin.com/events Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://finance.yahoo.com/markets/crypto/articles/illinois-set-begin-taxing-bitcoin-172237413.html https://www.wsj.com/livecoverage/spacex-ipo-stock-market-06-12-2026 https://www.cnbc.com/2026/06/16/spacex-spcx-cursor-acquisition-ipo.html https://www.bbc.com/news/articles/cgrk21wnvy9o https://www.wsj.com/livecoverage/fed-meeting-warsh-interest-rate-06-17-2026/card/musk-swaps-300-million-tesla-options-for-shares-he-can-vote-qPrqq5tcKEzb2vkcqiXg https://www.cbsnews.com/news/spacex-spcx-stock-ipo-welder-employee-millionaire https://www.semafor.com/article/06/13/2026/white-house-move-to-limit-anthropic-linked-to-concerns-about-chinese-access-to-mythos https://www.wired.com/story/sk-telecom-anthropic-mythos-export-controls https://www.washingtonpost.com/technology/2026/06/15/how-anthropic-lost-white-houses-trust-then-its-flagship-product https://x.com/DavidSacks/status/2065853007619588171 https://www.wsj.com/tech/ai/amazon-ceos-talks-with-u-s-officials-triggered-crackdown-on-anthropic-models-dcc90578 https://www.anthropic.com/news/fable-mythos-access https://stratechery.com/2026/anthropics-safety-superpower https://www.nist.gov/news-events/news/2024/08/us-ai-safety-institute-signs-agreements-regarding-ai-safety-research https://www.cnbc.com/2026/03/05/anthropic-pentagon-ai-claude-iran.html https://www.nytimes.com/2026/06/17/opinion/ai-dangerous-openai-anthropic.html

(0:00) Besties are back! (0:19) Anthropic gets massive backlash over secret Fable nerfing and privacy concerns (29:16) The AI regulatory capture trap, pragmatic safety solutions (37:59) Nationalizing AI: Trump/Sanders, justifications, and AI's "Capitalist Cucks" (59:22) Liquidity recap: Best moments and takeaways (1:05:39) Inflation heats up: CPI and PPI see 3+ year highs (1:12:27) California's loose election laws creating integrity doubts Apply for Summit 2026: https://allin.com/events Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod 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.anthropic.com/news/claude-fable-5-mythos-5 https://x.com/Scobleizer/status/2064641097310335294 https://x.com/GergelyOrosz/status/2064618497150210391 https://x.com/cremieuxrecueil/status/2064433331970720187 https://x.com/Yuchenj_UW/status/2064524668208545955 https://stratechery.com https://x.com/peter_szilagyi/status/2064620043896291671 https://darioamodei.com/post/policy-on-the-ai-exponential https://screendna.org https://x.com/DavidSacks/status/2065120386660880765 https://www.nytimes.com/2026/06/01/opinion/artificial-intelligence-bernie-sanders.html https://polymarket.com/event/ipos-before-2027 https://polymarket.com/event/how-high-will-inflation-get-in-2026 https://polymarket.com/event/fed-rate-hike-in-2026 https://x.com/robbystarbuck/status/2063602942637158423 https://www.justice.gov/opa/pr/california-man-pleads-guilty-orchestrating-270m-medication-reimbursement-fraud-scheme https://www.dol.gov/newsroom/releases/osec/osec20260218 https://www.secretservice.gov/newsroom/behind-the-shades/2025/05/secret-service-cracks-down-ebt-fraud-southern-california-sweep https://www.justice.gov/usao-cdca/pr/8-arrested-health-care-fraud-takedown-including-owners-hospices-billed-taxpayers https://www.foxnews.com/us/california-man-arrested-allegedly-stealing-millions-homeless-funds https://x.com/californiapost/status/2064362900098048386

(0:00) Chamath explains the Best Ideas format (2:31) Suvretta Capital Management's Aaron Cowen pitches MGM Resorts (13:07) Bornite Capital's Dan Dreyfus pitches Talen Energy (27:19) EcoR1 Capital's Oleg Nodelman pitches Aktis Oncology (40:20) Multicoin Capital's Kyle Samani pitches GEODNET (54:50) The Besties recap the pitches and announce winners Thanks to our partners for making this possible! EY - EY helps private equity firms turn market insight into action, navigating complexity and unlocking new paths to growth and long-term value. https://www.ey.com/en_us/industries/private-equity?WT.mc_id=3501315&AA.tsrc=sponsorship NYSE - Thank you to our partner, the New York Stock Exchange - a modern marketplace and exchange for building the future. It all happens at the NYSE. https://www.nyse.com Plaud - Never miss a moment. Plaud, our official wearable AI note-taking partner at All-In Liquidity Summit, captured every insight. https://www.plaud.ai Follow Aaron: https://www.linkedin.com/in/aaron-cowen-0a44a450 Follow Dan: https://x.com/dreyfd https://www.linkedin.com/in/daniel-dreyfus-b65554209 Follow Oleg: https://www.linkedin.com/in/oleg-nodelman-375131 Follow Kyle: https://x.com/KyleSamani https://www.linkedin.com/in/kylesamani Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg

(0:00) PA Senators Fetterman and McCormick join the Besties (0:33) Bipartisanship in 2026, rejecting extremism (6:37) All-time unpopularity in the Senate, the filibuster question, tribalism (13:33) Fixing wealth concentration in the US (19:51) Graham Platner, why extremism wins primaries, and what it means for the future (28:12) How AI and energy are playing a part in PA's blue collar boom, dark money funding misinformation (41:05) Insane level of money in politics, fixing the broken system Follow Senator Fetterman: https://x.com/SenFettermanPA Follow Senator McCormick: https://x.com/SenMcCormickPA Thanks to our partners for making this possible! EY - EY helps private equity firms turn market insight into action, navigating complexity and unlocking new paths to growth and long-term value. https://www.ey.com/en_us/industries/private-equity?WT.mc_id=3501315&AA.tsrc=sponsorship NYSE - Thank you to our partner, the New York Stock Exchange - a modern marketplace and exchange for building the future. It all happens at the NYSE. https://www.nyse.com Plaud - Never miss a moment. Plaud, our official wearable AI note-taking partner at All-In Liquidity Summit, captured every insight. https://www.plaud.ai Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg

(0:00) Dan Dreyfus Presents: The Future of Critical Minerals (0:33) America's "Capital Light Era" is over, rapid supply/demand shocks (5:40) Impact of China cutting off the US from critical minerals (8:18) Copper's Rise: The next 18 years need as much as the last 10,000 (12:00) Dollar Debasement: $140T in debt and why hard assets win (13:50) The Grid is Dying: Blackouts, bottlenecks, and the craft labor crisis (19:10) How to invest in the commodity supercycle Follow Dan: https://x.com/dreyfd Thanks to our partners for making this possible! EY - Liquidity, growth, and what's next for organizations were front and center at the Summit. EY helps turn liquidity challenges into sustainable value. https://www.ey.com/en_us/services/strategy-transactions/liquidity-working-capital-advisory?WT.mc_id=3501316&AA.tsrc=sponsorship NYSE - Thank you to our partner, the New York Stock Exchange - a modern marketplace and exchange for building the future. It all happens at the NYSE. https://www.nyse.com Plaud - Never miss a moment. Plaud, our official wearable AI note-taking partner at All-In Liquidity Summit, captured every insight. https://www.plaud.ai Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg

(0:00) Bill Maris joins the Besties! (0:33) Four critical lessons from a career in technology (5:58) Building Google Ventures with data and machine learning (9:51) Why small VC funds beat big ones on average (14:36) OpenAI's valuation problem and the AI price war (19:09) AI's "Atari Stage": what comes next? (25:23) VC's broken incentives and the future of deep tech Thanks to our partners for making this possible! EY - Agentic AI is introducing a new investment discipline. As AI shifts to consumption-based models, EY connects spend to enterprise value. https://www.ey.com/en_us/insights/ai/agentic-ai-token-costs?WT.mc_id=3501318&AA.tsrc=sponsorship NYSE - Thank you to our partner, the New York Stock Exchange - a modern marketplace and exchange for building the future. It all happens at the NYSE. https://www.nyse.com Plaud - Never miss a moment. Plaud, our official wearable AI note-taking partner at All-In Liquidity Summit, captured every insight. https://www.plaud.ai Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg

(0:00) Palo Alto Networks CEO Nikesh Arora joins the Besties! (0:47) Claude Mythos found years of vulnerabilities in Palo Alto's code in weeks (5:15) Are cyber defenders losing the race against AI attackers? (6:50) Analytical SaaS is dead, so what survives the AI wave? (14:06) If models become a utility, where will the money be made? (20:35) Armchair CEO: Nikesh rates Waymo, Google, and OpenAI (28:22) Palo Alto's M&A playbook and the path to $1 trillion Thanks to our partners for making this possible! EY - AI ambition isn't enough. EY.ai Value Blueprints move organizations beyond pilots embedding measurable business value by design. https://www.ey.com/en_us/services/ai/value-blueprints?WT.mc_id=3501320&AA.tsrc=sponsorship NYSE - Thank you to our partner, the New York Stock Exchange - a modern marketplace and exchange for building the future. It all happens at the NYSE. https://www.nyse.com Plaud - Never miss a moment. Plaud, our official wearable AI note-taking partner at All-In Liquidity Summit, captured every insight. https://www.plaud.ai Follow Nikesh: https://x.com/nikesharora Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg

(0:00) Brad Gerstner, Gavin Baker, and Kelly Rodriques join the Besties! (0:47) Secondary Markets are Booming & Competing with IPOs (3:10) Why Companies are Staying Private So Long? (9:22) SPVs, the Forge-Schwab Deal, Democratizing Private Market Access (13:28) Secondary Markets as Exit Liquidity for VCs (27:00) The Private Market Bubble? (32:03) Hottest Secondary Companies Right Now Thanks to our partners for making this possible! EY - Agentic AI is introducing a new investment discipline. As AI shifts to consumption-based models, EY connects spend to enterprise value. https://www.ey.com/en_us/insights/ai/agentic-ai-token-costs?WT.mc_id=3501318&AA.tsrc=sponsorship NYSE - Thank you to our partner, the New York Stock Exchange - a modern marketplace and exchange for building the future. It all happens at the NYSE. https://www.nyse.com Plaud - Never miss a moment. Plaud, our official wearable AI note-taking partner at All-In Liquidity Summit, captured every insight. https://www.plaud.ai Follow Brad: https://x.com/altcap Follow Gavin: https://x.com/GavinSBaker Follow Kelly: https://www.linkedin.com/in/kelly-rodriques-9b49418 Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg