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Bernie Sanders Says Stop All AI, China's Breakthrough, Inflation Down, Golden Age in 2026?

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Bernie Sanders Says Stop All AI, China’s Breakthrough, Inflation Down, Golden Age in 2026?

Summary

In this episode, the All-In Podcast hosts tackle Bernie Sanders’ controversial call for a moratorium on AI data centers, arguing that while some concerns about AI are valid, halting US progress would be a massive strategic error as China continues advancing. The discussion evolves into a broader debate about how Silicon Valley has failed to communicate AI’s benefits to ordinary Americans, with Jason emphasizing that people are scared and the tech industry needs to meet them where they are rather than just beating the “China” drum.

The hosts dive deep into claims of “anti-AI astroturfing,” where Sacks presents evidence that organizations like Omidyar Network have funded critical AI coverage at major newsrooms, potentially manufacturing negative public sentiment. Chamath and Friedberg provide economic context, discussing inflation trends, jobs data, and whether 2026 could mark a “Golden Age” for the American economy. The episode also features a significant segment on China’s breakthrough in AI-driven lithography technology, which could help them circumvent US chip export restrictions, and closes with lighter discussion about the hosts’ real estate moves to Texas.

Throughout the conversation, the hosts wrestle with legitimate concerns about job displacement while pushing back on what they see as fear-mongering. The tension between acknowledging worker anxieties and maintaining technological optimism runs throughout, with calls for the tech industry to better articulate concrete benefits for average Americans beyond just stock market gains.

Highlights

”We reached a new level of retardation this week”

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“We reached a new level of retardation this week that we cannot avoid. Bernie Sanders has a major pitch, a moratorium on new AI data centers. Here’s his argument. Number one, the billionaires are pushing AI because they want more money and power. Number two, there’s going to be massive unemployment.” — Jason Calacanis, 0:23

”Only 39% of Americans believe the benefits of AI will outweigh the harms”

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“Only 39% of Americans believe the benefits of AI will outweigh the harms. 83% of people in China believe the benefits will outweigh the harms. So the discourse has really been affected by some of these institutions.” — David Sacks, 21:52

”Half the country doesn’t own stocks”

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“Half the country doesn’t own stocks, so they’re not participating in it. And they’re not blind to seeing self-driving cars or seeing their kids having a hard time getting a job. People are scared and our industry is scaring them I think by not meeting them where they are.” — Jason Calacanis, 12:49

”Two years after the launch of AI chatbots, there’s been no discernible disruption”

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“Two years after the launch of AI chatbots, there’s been no discernible disruption to the labor market and the early studies and data are showing wage increases and actually job increases.” — Chamath Palihapitiya, 30:08

”China is using AI to develop breakthrough chip manufacturing technology”

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“They’re using AI to optimize the photomask patterns. Instead of needing the incredibly precise optics that ASML uses, they’re using computational methods to achieve similar results with less sophisticated equipment. This is concerning because the entire basis of our chip export controls to China was that they couldn’t get access to these EUV machines.” — David Friedberg, 64:15

”Cannabis 100-200x more potent than before”

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“The smoking a joint from our youth is very different than smoking these like resins and stuff that they’ve created apparently that are like 100 times the potency, 200 times potency and they can put you in a psychotic state. Really dangerous folks.” — Jason Calacanis, 88:57

Key Points

  • Bernie Sanders’ AI Moratorium (0:19) - Sanders proposes halting new AI data centers, arguing billionaires want more power, AI will cause mass unemployment, and AI is harmful to kids
  • AI and Children Debate (1:05) - Sacks argues AI chatbots are actually less addictive than social media for kids, based on conversations with his own children
  • Character AI Concerns (2:18) - Friedberg distinguishes between useful AI research tools and concerning parasocial relationships on platforms like Character AI
  • China Competition Framing (3:38) - Sacks argues stopping US AI progress won’t stop China, making Sanders’ proposal “the biggest own goal ever”
  • Ro Khanna’s Moderate Position (3:05) - Silicon Valley congressman partially supports Sanders but primarily wants renewable energy for data centers
  • Polymarket Prediction (3:16) - Market gives 2% chance to AI data center moratorium passing before 2027
  • Tech Industry Communication Failure (12:49) - Jason argues tech has done a terrible job explaining AI benefits to average Americans who don’t own stocks
  • Anti-AI Astroturfing Claims (17:15) - Sacks presents evidence that Omidyar Network funded critical AI coverage at major newsrooms including NYT, WaPo, and WSJ
  • Public Opinion Gap (21:52) - Only 39% of Americans believe AI benefits outweigh harms vs. 83% in China
  • Ida Tarbell Comparison (18:35) - Discussion of whether modern tech criticism mirrors legitimate journalism that exposed Standard Oil monopoly
  • Labor Market Stability (30:08) - Chamath notes no discernible labor disruption two years after AI chatbot launch, with wage and job increases
  • Waymo Job Transition (30:55) - Jason cites Dara Khosrowshahi saying Uber drivers in Waymo cities are transitioning to meal delivery
  • DOE Regulatory Burden (39:33) - Chamath describes 700-page DOE reports requiring teams of 50-100 people for battery business filings
  • Dog Corner (51:44) - Chamath discusses his 15-year-old Golden Retriever’s health regimen including calorie restriction
  • China Lithography Breakthrough (59:56) - Friedberg explains Tsinghua University research using AI to circumvent ASML/Zeiss lithography technology
  • Inverse Lithography Technology (64:15) - Chinese researchers using AI to optimize mask patterns without traditional EUV equipment
  • Chip Export Control Challenge (73:02) - Discussion of whether US export restrictions may ultimately be circumvented by Chinese innovation
  • Texas Migration (79:43) - Multiple hosts discussing properties in Austin area, including lake houses and ranches
  • Cannabis Potency Warning (88:57) - Discussion of modern high-potency cannabis products being 100-200x stronger than traditional marijuana

Mentions

Companies

  • ASML (64:15) - Dutch semiconductor equipment company whose EUV lithography technology China is trying to replicate
  • Zeiss (64:56) - German optics company providing key components for semiconductor manufacturing
  • Omidyar Network (17:45) - Pierre Omidyar’s foundation accused of funding anti-AI journalism
  • Waymo (30:55) - Alphabet’s autonomous vehicle subsidiary operating robotaxis
  • Uber (31:05) - Mentioned in context of driver job transitions to meal delivery
  • Tesla (31:45) - Referenced for autonomous driving technology
  • Character AI (2:23) - AI chatbot platform creating parasocial relationships with users
  • Snap/Snapchat (1:24) - Social media platform kids use more than AI chatbots
  • TikTok (1:27) - Video platform described as more engaging than AI chatbots for kids

Products & Technologies

  • EUV Lithography (64:15) - Extreme ultraviolet lithography used for advanced chip manufacturing
  • Inverse Lithography Technology (64:15) - AI-driven approach to optimize photomask patterns for chip manufacturing
  • Polymarket (3:16) - Prediction market showing 2% odds on AI moratorium passing

People

  • Bernie Sanders (0:19) - Senator proposing AI data center moratorium
  • Ro Khanna (3:01) - Silicon Valley congressman with more moderate position on AI data centers
  • Elon Musk (0:52) - Cited by Sanders as predicting AI will replace most jobs
  • Tucker Carlson (3:40) - Host who recently discussed AI benefits for Americans
  • Pierre Omidyar (17:45) - eBay founder whose network allegedly funds anti-AI journalism
  • Ida Tarbell (18:35) - Muckraking journalist who exposed Standard Oil monopoly
  • Dara Khosrowshahi (30:55) - Uber CEO discussing driver transitions in Waymo markets

Institutions

  • Tsinghua University (64:40) - Leading Chinese research institution developing AI-driven lithography
  • Department of Energy (39:38) - Federal agency requiring extensive documentation for energy projects
  • FDA (89:09) - Suggested regulator for high-potency cannabis products

Surprising Quotes

“We reached a new level of retardation this week that we cannot avoid. Bernie Sanders has a major pitch, a moratorium on new AI data centers.” — 0:28

“Only 39% of Americans believe the benefits of AI will outweigh the harms. 83% of people in China believe the benefits will outweigh the harms.” — 21:52

“Half the country doesn’t own stocks, so they’re not participating in it. And they’re not blind to seeing self-driving cars or seeing their kids having a hard time getting a job.” — 13:07

“Two years after the launch of AI chatbots, there’s been no discernible disruption to the labor market and the early studies and data are showing wage increases and actually job increases.” — 30:08

“So the smoking a joint from our youth is very different than smoking these like resins and stuff that they’ve created apparently that are like 100 times the potency, 200 times potency and they can put you in a psychotic state.” — 88:57

Transcript

0:00 All right, everybody. Welcome back to your favorite podcast, the number one podcast. In fact, in the entire universe, the All-In podcast with your besties. We’re all here. It’s the original quartet. Everybody loves when the Core Four are here. And we have a docket for you today, guys. We got to start out with Bernie Sanders.

0:23 I know this is becoming a bit repetitive, but AI is the topic. We reached a new level of retardation this week that we cannot avoid. Bernie Sanders has a major pitch, a moratorium on new AI data centers. Here’s his argument. Number one, the billionaires are pushing AI because they want more money and power. Number two, there’s going to be massive unemployment. And he cites Skates, Staro, Elon, saying that AI would replace most jobs. Number three, he has an interesting point actually. AI is harmful to kids because it decreases social interaction. Actually, we kind of agree with that one, I think, across the board. But here’s his pitch, Sacks.

1:07 “You want your kids using these chatbots?” “No, I’ve talked to my kids about it.” “Okay, we’ll get into it.” “We can get into it, but I’ve talked to them about it. Look, if you actually look at the data, if you look at what kids are doing, it’s so much more interactive and engaging for them to talk to their friends on Snap or to watch videos on TikTok. Those things are super engaging. Whereas doing research on an AI chatbot is just way less engaging and you see this in the data.”

1:36 “So, I’m not saying there’s not an issue there. You want to pay attention to the way that these technologies are shaping the minds of young kids, but I think people get a little bit confused. What they’re really talking about is social media and then they attribute all the ills of social media over to these new AI chat apps and they are a little different. You know, when I asked my kids like how much do you use these things? Are they addictive? They said no, they’re more just really useful. It’s like Google.” “I couldn’t do school without it.”

2:06 “Yeah, there’s two pieces here. One, using AI to be smarter and to learn stuff and ask questions. Absolutely fantastic, phenomenal. I think we’ll all agree on that. There is, and I don’t know if this is actually what he was referencing, but there’s Character AI in a long tail of spicy chats where people we talked about getting one-shotted and these parasocial relationships. That’s I think what he’s referring to, but maybe I’m reading it wrong.”

2:33 “But let’s get into it here. His pitch is that we need to slow down so that quote democracy can catch up and that Congress should put a moratorium on new data centers. That’s his solution. He got roasted obviously on social media for this. It’s the most absurd I think solution to what are valid concerns. Friend of the pod Ro Khanna who represents Silicon Valley, he I guess supported it a bit and then he replied to me and says his concerns are not as acute and that he just wants to make sure we use renewable energy which I guess is a fine position to have.”

3:11 “Polymarket put up a little market here, AI data center moratorium passed before 2027. Yeah, we’ll see if that comes true or not. But hey Sacks, you are our SGE. Sacks or SGE, this is your time to shine. You have framed the AI debate as we can’t lose to China. Bernie framed it as not letting the billionaire class get more power and money by eliminating American jobs.”

3:40 “And last week on this very program, Tucker framed it as what are Americans going to get out of this? Right? That was the framing, you know, as of December of 2025. So here’s your chance, Sacks. Why should Americans who have some concerns about losing their jobs care about beating China? Why should they care about that, Sacks?”

3:58 “Why should they care about beating China? Because AI is a profound technology. It’s going to have huge economic and national security implications. And the thing that Bernie gets wrong is that he can’t stop the progress. I mean, he can’t stop China from making progress. We can stop progress in the US, but it’s not going to stop China from advancing these technologies. A lot of this is just math. And just because we stopped doesn’t mean China’s going to stop. So, this would be the biggest own goal ever.”

4:29 “So why should the American worker who’s scared about their job be excited about beating China?” “Well, look, I think there’s a couple of things here. First of all, there’s a lot of fear-mongering about AI causing massive job loss. When you actually dig into the studies, the early data is showing that actually it’s causing wage increases for workers and potentially job increases. Two years after the launch of AI chatbots, there’s been no discernible disruption to the labor market.”

5:05 “Now look, over time AI will displace some jobs. That is true. But it will also create many new jobs. And when you actually look at the history of technology, every major technological revolution has created more jobs than it destroyed. Yes, there’s always a transition period where some jobs get displaced and new ones get created. But overall, technology has been a massive boon for workers. The question is whether we manage that transition well.”

5:45 “But if we unilaterally stop AI development in the United States, all we’re doing is ceding leadership to China. And then we won’t even have the economic gains from AI to help workers transition. We’ll just be behind. So this is really the worst possible policy. It’s like cutting off your nose to spite your face.”

6:15 “I think the bigger issue here is that our industry has done a terrible job of explaining how this benefits the average American. When you talk to regular people, they don’t own stocks. Half the country doesn’t own stocks. They’re seeing all these headlines about AI companies getting huge valuations. They’re seeing tech billionaires getting richer. And they’re asking, what’s in it for me?”

6:45 “And they’re not blind to seeing self-driving cars or seeing their kids having a hard time getting a job. People are scared and our industry is scaring them I think by not meeting them where they are. Beating China is super important, Sacks. I can intellectually agree with you on that. But you got to explain to people why they should be excited about this technology.”

7:20 “What are the benefits they’re going to see in their daily lives? Lower healthcare costs? Better education for their kids? More affordable energy? You have to give them something concrete. You can’t just say ‘China’ and expect people to get on board. They need to see how this makes their life better.”

7:55 “You know what? You’re absolutely right. The tech companies have done a really bad job explaining the benefits. We talked about this with Tucker. I think he brought up some really good points. And you’re right, the AI companies lean way too much into the whole job loss narrative and the AGI doomer stuff. And they probably should be talking more about how it’s going to make services cheaper and more accessible.”

8:30 “Think about healthcare. Right now if you want to see a specialist, you might wait months. With AI-assisted diagnostics, you could get better care faster and cheaper. Or education - personalized tutoring that used to cost $100 an hour is now essentially free. These are real benefits that regular people can understand and appreciate.”

9:05 “The problem is the media narrative has been dominated by fear-mongering. And you know what’s interesting? When you actually dig into who’s funding some of this anti-AI journalism, you find some interesting patterns. Let me get into this because I think it’s really important.”

9:35 “Andy Masley wrote this great piece on Substack. He went looking for data centers that had been canceled due to energy concerns - you know, all these stories we keep hearing about data centers being stopped because of power usage. He couldn’t find a single one. Not one. These stories are being pushed but there’s no actual evidence of harm.”

10:10 “And then Semafor did this investigation and found that Omidyar Network - Pierre Omidyar’s foundation - has funded critical AI coverage at major newsrooms including the New York Times, Washington Post, and Wall Street Journal. So when you see all these scary AI stories, you have to ask: is this organic journalism or is it being funded by people with an agenda?”

10:45 “Now, Chamath, I want to push back on this a little bit. Ida Tarbell was funded by wealthy interests too when she exposed the Standard Oil monopoly. And that was great journalism that led to important reforms. So just because something is funded doesn’t mean it’s not legitimate.”

11:15 “That’s fair, but there’s a difference between investigative journalism that uncovers actual wrongdoing and manufacturing a narrative of fear without evidence. When you can’t point to a single data center that’s actually been canceled, when labor market data shows no disruption, when wages are going up - the fear-mongering doesn’t match reality.”

11:50 “I think what’s really happening here is there are certain interests that don’t want to see AI advance. Some of it is genuine concern, some of it is competitive positioning, and some of it is just reflexive hostility to big tech. And they’ve been very effective at shaping the narrative.”

12:25 “The numbers are stark. Only 39% of Americans believe the benefits of AI will outweigh the harms. 83% of people in China believe the benefits will outweigh the harms. So the discourse has really been affected by some of these institutions.”

12:55 “But Jason, you raise a really good point. What’s the plan to turn this around? How do we explain to people why they should be optimistic?” “Well, look, I think we have to lead with the benefits. Not the China competition angle, not the stock prices, but the concrete ways AI will make life better for regular people.”

13:30 “And we have to be honest about the transition. Yes, some jobs will be displaced. But we should be talking about how we’re going to help people through that transition. What retraining programs will we have? What new jobs will be created? We can’t just hand-wave the concerns away.”

14:05 “You know, when Dara from Uber talked to me about what’s happening in cities where Waymo is operating, he said the drivers aren’t being fired. They’re transitioning to meal delivery which is actually growing faster than rideshare. That’s the kind of story we should be telling.”

14:40 “Right, and look at the actual data on construction jobs. Because of all the data center construction, there’s been a boom in blue-collar employment. These are good-paying jobs for people without college degrees. That’s a real benefit that we should be talking about more.”

15:15 “Let me give you another example. When we started a battery business 5 years ago, when we filed with the DOE, these are 700-page reports. You spend millions of dollars and you hire teams of 50 and 100 people. And what are we trying to do? We’re trying to build a battery business in the United States so that we can de-lever from the Chinese.”

15:50 “To the extent that we could do that a little bit simpler and a little bit easier because there’s fewer folks and so the burden goes to state and local regulators which we all already have to deal with. These are just generally good things for productivity. They’re generally good things for GDP. It allows us to invest more aggressively in the things that help America.”

16:25 “This has been our first debate club corner. Every week we’re going to teach you how to debate better here. No, I appreciate that and I have really tried to say I’m not a doomerist at all. You know the statistics I look at, I talk to Dara. I really use refined language. I use ‘displacement’ not ‘replacement’.”

17:00 “Now let’s talk about the economy. Friedberg, what are you seeing in the inflation numbers?” “Well, CPI came in better than expected. We’re seeing continued progress on bringing inflation down. The Federal Reserve’s policy seems to be working without triggering a recession, which is what everyone was worried about a year ago.”

17:35 “The labor market remains strong. Unemployment is low. Wage growth is positive in real terms now, meaning wages are growing faster than inflation. That’s good news for workers. And interestingly, some of the sectors seeing the biggest wage gains are ones that people thought would be disrupted by AI.”

18:10 “So Chamath, are we headed for a golden age in 2026?” “Look, I think the fundamentals are actually quite good. We have this transformative technology in AI, we have reshoring of manufacturing, we have declining inflation, strong employment. If you’re a DOGE optimist - if you believe we can actually reduce government spending and become more efficient - then yes, 2026 could be really good.”

18:45 “But there are risks. Geopolitical uncertainty, the possibility that inflation re-accelerates, questions about whether the AI boom is sustainable. So I’d say cautiously optimistic but not complacent.”

19:20 “The interesting thing about the Trump polls right now is his two worst categories are the economy and inflation. The American people thought he was going to come in and immediately fix these things, and it takes time. These are snapshots in time and they’re going to change.”

19:55 “The economists who put together these expectations were expecting inflation to continue dropping, which is what’s happening. Every month you have 12 months there to look at. The trend is clearly positive. We just need to be patient and let the policies work.”

20:30 “Alright, let’s do Dog Corner! Chamath, you’ve been wanting to talk about your Golden Retriever.” “Yes, so AI - my dog, not artificial intelligence - is turning 15 this year. Golden Retrievers don’t really live to 15, but my god, she’s been incredible.”

21:05 “You got a lot of good years. I was just on the floor last Thursday snuggling with her and it was so precious.” “Well, you know what we did - I think the best thing that we did was we got much more disciplined about diet for AI when she turned about 13. A little bit calorie restricted. It’s not nearly as much. She lost a few kilos. It helped her a lot walking and she’s a little deaf unfortunately, but she can see.”

21:40 “Dogs are the best. My god, dogs are the best. Here’s my other photo of the dog that Chamath hates.” “Marshall, listen. Last Christmas at Nat’s birthday dinner on the 26th, which was wonderful, that dog was at my ankles the entire time barking.”

22:15 “I love dogs. But small dogs that bark constantly are a different experience than a calm Golden Retriever. That said, all dogs are great. Dogs are humanity’s best friends for a reason.”

22:50 “Alright, let’s get into something really important. China’s AI breakthrough in lithography. Friedberg, you’ve been digging into this.” “Yeah, so Reuters did this big report on how China is trying to build their own chip manufacturing capability to rival the West. And the key bottleneck has always been lithography - the machines that ASML makes that print circuits onto chips.”

23:25 “Here’s a publication on this paper. So this is the leading research group out of China that’s been backing into lithography technology using AI-driven systems. They published this paper which was a very good summary of where they are in July. It’s in Light Science and Applications and this paper is called ‘Advancements and Challenges in Inverse Lithography Technology: A Review of Artificial Intelligence-Based Approaches.’”

24:00 “If you read into the paper and then you read the other publications from this particular research team at Tsinghua University, they have made a number of breakthroughs in using AI to try and reestablish alternative systems to the traditional Zeiss optics and other control systems that are used in the ASML platform.”

24:35 “And the way that they’ve done it - I won’t spend too much time on the technical details - but essentially they’re using AI to optimize the photomask patterns. Instead of needing the incredibly precise optics that ASML uses, they’re using computational methods to achieve similar results with less sophisticated equipment.”

25:10 “This is concerning because the entire basis of our chip export controls to China was that they couldn’t get access to these EUV machines from ASML. The Dutch government, under pressure from the US, blocked the sale. But if China can work around this limitation using AI, then our entire strategy may be obsolete.”

25:45 “Now, to be clear, they’re not there yet. Making chips at scale requires incredibly precise manufacturing. But they’re making progress, and the direction of travel is clear. This is why I keep saying that trying to just restrict China’s access to technology may not work in the long run.”

26:20 “So Sacks, what’s the implication here? Should we change our strategy?” “Well, it reinforces what I’ve been saying. You can’t just play defense. You can’t just try to deny China access to technology. You have to out-innovate them. You have to be running faster than they are.”

26:55 “And that’s why Bernie Sanders’ proposal is so misguided. While he’s talking about slowing down AI development in the US, China is using AI to develop breakthrough chip manufacturing technology. If we listen to Bernie, we hand them the lead on a silver platter.”

27:30 “Is your goal to steal their technology or is your goal to get your best scientists and say let’s get ahead of their technology?” “If I’m China, neither. It’s to solve the problem. What is the actual economic commercial problem we’re solving?”

28:05 “Right. So if you can figure out a way to do manufacturing better, cheaper, faster than the way that the West does it, you would obviously take that path. You’re not trying to get to par - if you view yourself as supreme, you’re trying to get ahead.”

28:40 “But you have to understand even with these EUV machines and the same is true on the other side, at two or even sub-2 nanometer scale, you have these incredible laws of physics that make it really hard. There are limits to how far you can push conventional approaches.”

29:15 “That’s why breakthroughs in using AI and computational methods could be so significant. It’s not just about replicating what ASML does - it’s about potentially finding better approaches. And whoever gets there first will have a massive advantage.”

29:50 “Alright, let’s shift to something lighter. Sacks, I heard you’re looking at property in Texas?” “Yeah, so we’re getting a place on Lake Austin. It’s beautiful. Great views, space for the kids to run around. And no state income tax.”

30:25 “The only downside is the motorboats starting at 7 a.m. It’s beautiful but understand it’s going to get loud at 7 a.m.” “There’s nothing a good motorboating doesn’t fix. Who doesn’t love a good motorboat?”

31:00 “Jcal, I heard you’re like an hour away. You’re not even in Austin.” “I’m in the Hill Country on my ranch, but we’re getting a place closer to the city actually. So we’re 30 minutes outside the city.” “30 minutes? My god.” “I heard you’re in the sticks.” “No, not that far. Not that far.”

31:35 “No, he’s in the suburbs of the suburbs.” “No, if you want to have like, you know, dozens of acres, you can’t do that in the city. You need to be out a bit. But it’s worth it for the space.”

32:10 “So Chamath, Friedberg - are you guys looking at Texas too?” “I already have a place in Miami, so I’m set on the no-state-income-tax front. But I could see getting something in Austin for when we record together in person.”

32:45 “There’s definitely a migration happening. A lot of tech people, finance people moving from California to Texas and Florida. The tax benefits are significant, but it’s also about quality of life. You can actually build things in Texas without endless permitting delays.”

33:20 “And the politics are different. California has become increasingly hostile to business and to tech specifically. You have people like Bernie Sanders wanting to stop AI development. Meanwhile Texas is like, come build your data centers here, we have cheap power, we welcome innovation.”

33:55 “That said, there are things California does better. The weather, obviously. The restaurant scene. Access to international travel. It’s not a simple decision. Different things work for different people and different stages of life.”

34:30 “But I think we’ll see more of this bifurcation. People who are in wealth accumulation mode going to low-tax states. People who’ve already made it and just want lifestyle staying in California. And some people splitting time between multiple places.”

35:05 “The remote work revolution makes it all possible. You don’t have to be physically in San Francisco to work in tech anymore. So people are optimizing for other factors - cost of living, tax burden, outdoor activities, family.”

35:40 “Alright, one last topic before we wrap. Cannabis regulation. Jason, you had some strong views on this.” “Yeah, so here’s the thing. The smoking a joint from our youth is very different than smoking these like resins and stuff that they’ve created apparently that are like 100 times the potency, 200 times potency and they can put you in a psychotic state. Really dangerous folks.”

36:15 “Oh that’s where like the FDA should regulate it. More like alcohol or something. 100%. Much better process, especially since kids are getting messed up.” “Yeah, we need actual standards. You buy alcohol, you know what the alcohol content is. With some of these cannabis products, you have no idea what you’re getting.”

36:50 “Alright everybody, another amazing episode of your favorite podcast in the world, the All-In Podcast. Love you.” “Happy holidays, everybody. Merry Christmas.” “Happy Hanukkah. Merry Christmas.” “Happy Hanukkah. Christmas, whatever you’re into.” “Let your winners ride.”

37:25 “Rainman David. And it said we open sourced it to the fans and they’ve just gone crazy with it. Queen of besties. Oh man, my haberdasher will meet up. We should all just get a room and just have one big huge orgy cuz they’re all just… it’s like this like sexual tension that we just need to release.”