E146: Did the Fed break the VC model? Plus IPOs, M&A, revaluing unicorns & more

<p>(0:00) Bestie intros!</p> <p>(3:05) GOP Primary update: polling, acceptable candidates, tentpole issues</p> <p>(11:56) All-In Summit 2023 recap</p> <p>(24:12) IPOs and M&A heat up: Arm, Instacart, and Klaviyo go public, Cisco acquires Splunk for $28B, but did the "great reopening" fall short?</p> <p>(42:34) Did the Fed break the VC model? How LPs will evaluate fund managers going forward</p> <p>(50:45) Breaking down Instacart and Klaviyo's businesses</p> <p>(1:01:12) Revaluing Airtable and the path forward for ZIRP-era unicorns</p> <p>(1:13:14) Fed pauses rate hikes, but says rates will stay higher for longer, plus: what breaks next in the economy?</p> <p>(1:32:51) Science Corner: new "inverse-vaccine" treatment is a potential game changer for autoimmune diseases</p> <p>Follow the besties:</p> <p><a href= "https://twitter.com/chamath">https://twitter.com/chamath</a></p> <p><a href= "https://linktr.ee/calacanis">https://linktr.ee/calacanis</a></p> <p><a href= "https://twitter.com/DavidSacks">https://twitter.com/DavidSacks</a></p> <p><a href= "https://twitter.com/friedberg">https://twitter.com/friedberg</a></p> <p>Follow the pod:</p> <p><a href= "https://twitter.com/theallinpod">https://twitter.com/theallinpod</a></p> <p><a href= "https://linktr.ee/allinpodcast">https://linktr.ee/allinpodcast</a></p> <p>Intro Music Credit:</p> <p><a href="https://rb.gy/tppkzl">https://rb.gy/tppkzl</a></p> <p><a href= "https://twitter.com/yung_spielburg">https://twitter.com/yung_spielburg</a></p> <p>Intro Video Credit:</p> <p><a href= "https://twitter.com/TheZachEffect">https://twitter.com/TheZachEffect</a></p> <p>Referenced in the show:</p> <p><a href= "https://projects.fivethirtyeight.com/polls/president-primary-r/2024/new-hampshire"> https://projects.fivethirtyeight.com/polls/president-primary-r/2024/new-hampshire</a></p> <p><a href= "https://youtu.be/yjj1QjZlQMM">https://youtu.be/yjj1QjZlQMM</a></p> <p><a href= "https://www.bloomberg.com/news/articles/2023-09-21/cisco-to-buy-splunk-for-157-a-share-in-28billion-deal"> https://www.bloomberg.com/news/articles/2023-09-21/cisco-to-buy-splunk-for-157-a-share-in-28billion-deal</a></p> <p><a href= "https://twitter.com/pitdesi/status/1704874017357025499">https://twitter.com/pitdesi/status/1704874017357025499</a></p> <p><a href= "https://www.google.com/finance/quote/ARM:NASDAQ?comparison=NASDAQ%3ACART%2CNYSE%3AKVYO&window=5D"> https://www.google.com/finance/quote/ARM:NASDAQ?comparison=NASDAQ%3ACART%2CNYSE%3AKVYO&window=5D</a></p> <p><a href= "https://twitter.com/aswathdamodaran/status/1704246090198036914">https://twitter.com/aswathdamodaran/status/1704246090198036914</a></p> <p><a href= "https://cloudedjudgement.substack.com/p/clouded-judgement-81823-q2-earnings"> https://cloudedjudgement.substack.com/p/clouded-judgement-81823-q2-earnings</a></p> <p><a href= "https://www.lendingtree.com/content/uploads/2023/08/ccs-chart-3-3.jpg"> https://www.lendingtree.com/content/uploads/2023/08/ccs-chart-3-3.jpg</a></p> <p><a href= "https://fred.stlouisfed.org/series/MORTGAGE30US">https://fred.stlouisfed.org/series/MORTGAGE30US</a></p> <p><a href= "https://www.ey.com/en_gl/ipo/trends">https://www.ey.com/en_gl/ipo/trends</a></p> <p><a href= "https://stockanalysis.com/ipos/statistics">https://stockanalysis.com/ipos/statistics</a></p> <p><a href= "https://www.google.com/finance/quote/COIN:NASDAQ">https://www.google.com/finance/quote/COIN:NASDAQ</a></p> <p><a href= "https://www.google.com/finance/quote/EXPE:NASDAQ">https://www.google.com/finance/quote/EXPE:NASDAQ</a></p> <p><a href= "https://www.axios.com/2023/09/19/instacarts-ipo-venture-capital">https://www.axios.com/2023/09/19/instacarts-ipo-venture-capital</a></p> <p><a href= "https://www.sec.gov/Archives/edgar/data/1579091/000119312523221345/d55348ds1.htm"> https://www.sec.gov/Archives/edgar/data/1579091/000119312523221345/d55348ds1.htm</a></p> <p><a href= "https://influencermarketinghub.com/amazon-ad-revenue">https://influencermarketinghub.com/amazon-ad-revenue</a></p> <p><a href= "https://twitter.com/jasonlk/status/1704212644402540573">https://twitter.com/jasonlk/status/1704212644402540573</a></p> <p><a href= "https://www.saastr.com/5-interesting-learnings-from-klaviyo-at-650000000-in-arr"> https://www.saastr.com/5-interesting-learnings-from-klaviyo-at-650000000-in-arr</a></p> <p><a href= "https://twitter.com/DavidSacks/status/1078755080478715904">https://twitter.com/DavidSacks/status/1078755080478715904</a></p> <p><a href= "https://i.insider.com/4dd4d1cf4bd7c8c90f000000">https://i.insider.com/4dd4d1cf4bd7c8c90f000000</a></p> <p><a href= "https://twitter.com/asanwal/status/1703492397739516068">https://twitter.com/asanwal/status/1703492397739516068</a></p> <p><a href= "https://www.cnbc.com/2023/09/20/fed-rate-decision-september-2023-.html"> https://www.cnbc.com/2023/09/20/fed-rate-decision-september-2023-.html</a></p> <p><a href= "https://tradingeconomics.com/commodity/crude-oil">https://tradingeconomics.com/commodity/crude-oil</a></p> <p><a href= "https://kalshi.com/markets/fed/fed-interest-rates#fed-23nov">https://kalshi.com/markets/fed/fed-interest-rates#fed-23nov</a></p> <p><a href= "https://www.popularmechanics.com/cars/hybrid-electric/a42558850/tesla-price-cuts-worth-buying"> https://www.popularmechanics.com/cars/hybrid-electric/a42558850/tesla-price-cuts-worth-buying</a></p> <p><a href="https://hellometer.io">https://hellometer.io</a></p> <p><a href= "https://www.nature.com/articles/s41551-023-01086-2">https://www.nature.com/articles/s41551-023-01086-2</a></p> <p> </p>