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cover of episode E85: SBF's crypto bailout, Zendesk sells for ~$10B, buyout targets, US diplomacy, AlphaFold & more

E85: SBF's crypto bailout, Zendesk sells for ~$10B, buyout targets, US diplomacy, AlphaFold & more

2022/6/30
logo of podcast All-In with Chamath, Jason, Sacks & Friedberg

All-In with Chamath, Jason, Sacks & Friedberg
AI Deep Dive AI Chapters Transcript
People
C
Chamath Palihapitiya
以深刻的投资见解和社会资本主义理念而闻名的风险投资家和企业家。
D
David Sacks
一位在房地产法和技术政策领域都有影响力的律师和学者。
F
Friedberg
J
Jason Calacanis
一位多才多艺的美国互联网企业家、天使投资人和播客主持人，投资过多家知名初创公司，并主持多个影响广泛的播客节目。
Topics
Jason Calacanis：三箭资本的清算以及SBF对陷入困境的加密货币公司的救助行动，突显了加密货币市场固有的风险和不稳定性。这引发了人们对市场未来走向的担忧，以及对SBF动机的质疑。 Chamath Palihapitiya：加密货币市场的繁荣和萧条与缺乏监管、链下交易的复杂性以及刺激措施有关。他认为，缺乏监管导致系统性风险的累积，投资者对资产保管链缺乏了解，最终导致市场崩盘。 David Sacks：SBF资助加利福尼亚州的公投提案，以提高对高收入者的税收，这引发了人们对其动机的质疑，并引发了关于税收政策和公共资金分配的讨论。

Deep Dive

Chapters
The chapter explores the recent crypto market crisis and its implications, featuring SBF's bailout efforts for major crypto players and an analysis of the unregulated market risks.
  • SBF provided a $200M credit line to Voyager Digital and a $250M credit line to BlockFi.
  • The crypto market is largely unregulated, with systemic risks building up.
  • Many exchanges and funds were at risk due to their unsustainable business models and lack of transparency.
  • High-yield crypto lending practices are under scrutiny as they have contributed to the market's instability.

Shownotes Transcript

0:00 Bestie intros

4:09 Assessing SBF bailing out major crypto players & the state of the market

18:24 Classifying crypto assets, high-yield crypto lending

34:17 Zendesk sells for $10B, accounting for stock-based comp, evergreen standard in tech

1:01:24 Buyout targets, public market "regime change"

1:08:21 Russia/Ukraine impact on markets, could US diplomacy have prevented the war?

1:28:35 Science Corner: Friedberg breaks down the newest breakthrough AlphaFold application

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https://twitter.com/DavidSacks)

https://twitter.com/friedberg)

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Intro Music Credit:

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Intro Video Credit:

https://twitter.com/TheZachEffect)

Referenced in the show:

https://www.wsj.com/articles/crypto-fund-three-arrows-ordered-to-liquidate-by-court-11656506404)

https://www.cnbc.com/2022/06/22/sam-bankman-fried-rescues-crypto-lenders-blockfi-voyager.html)

https://www.coindesk.com/business/2022/06/25/morgan-creek-is-trying-to-counter-ftxs-blockfi-bailout-leaked-call-shows/)

https://twitter.com/ForbesCrypto/status/1541893168152690690)

https://californiahealthline.org/news/article/tech-titans-want-the-richest-californians-to-pay-for-pandemic-preparedness/)

https://twitter.com/DavidSacks/status/1540732780501381121)

https://www.marketwatch.com/story/gensler-labels-bitcoin-a-commodity-as-crypto-prices-stabilize-11656340239)

https://www.coinbase.com/price/bitcoin)

https://www.coinbase.com/price/ethereum)

https://www.blockchaincenter.net/en/altcoin-season-index/)

https://techcrunch.com/2022/06/24/zendesk-drama-concludes-with-102-billion-private-equity-acquisition)

https://techcrunch.com/2022/02/11/zendesk-spurns-17b-private-equity-takeover-offer/)

https://investor.zendesk.com/ir-home/press-releases/press-releases-details/2022/Zendesk-Announces-Fourth-Quarter-and-Fiscal-Year-2021-Results/default.aspx)

https://investor.zendesk.com/ir-home/press-releases/press-releases-details/2022/Zendesk-Announces-First-Quarter-2022-Results/default.aspx)

https://cloudedjudgement.substack.com/p/clouded-judgement-62422)

https://techcrunch.com/2022/02/25/zendesk-terminates-4-1b-surveymonkey-acquisition-after-its-own-investors-reject-deal/)

https://www.google.com/finance/quote/CRM:NYSE)

https://www.google.com/finance/quote/WDAY:NASDAQ)

https://www.google.com/finance/quote/NOW:NYSE)

https://www.issgovernance.com/library/resurgence-of-evergreen-features-in-ipo-equity-plans-restrict-investor-say/)

https://www.bloomberg.com/news/articles/2022-06-25/jana-partners-pulls-zendesk-proxy-fight-after-9-5-billion-deal)

https://cdn.manscaped.io/assets/investor-relations/manscaped-investor-presentation-slides-2022.pdf)

https://investor.onepeloton.com/node/9271/html)

https://investors.buzzfeed.com/node/7426/html)

https://kalshi.com/events/CPI-22JUN/markets/CPI-22JUN-T0.9)

https://www.washingtonpost.com/national-security/2022/06/17/long-war-ukraine/)

https://twitter.com/missy_ryan/status/1537944064703619074)

https://www.reuters.com/world/kremlin-says-nato-expansion-ukraine-crosses-red-line-putin-2021-09-27/)

https://www.reuters.com/markets/stocks/putin-warns-russia-will-act-if-nato-crosses-its-red-lines-ukraine-2021-11-30/)

https://theconversation.com/ukraine-war-follows-decades-of-warnings-that-nato-expansion-into-eastern-europe-could-provoke-russia-177999)

https://www.nytimes.com/2021/06/16/world/europe/biden-putin-geneva-meeting.html)

https://abcnews.go.com/amp/US/wireStory/us-officials-land-solomons-discuss-china-pact-concerns-84238211)

https://amp.cnn.com/cnn/2021/09/01/politics/ukraine-volodymyr-zelensky-biden-white-house/index.html)

https://www.state.gov/u-s-ukraine-charter-on-strategic-partnership/)

https://apnews.com/article/moscow-russia-europe-ukraine-belarus-6d9818ff922a2650de107734a7c3faf5)

https://news.yahoo.com/blinken-says-no-change-nato-193615967.html)

https://www.scmp.com/news/china/diplomacy/article/3182517/does-chinas-demotion-its-deputy-foreign-minister-signal)

https://www.science.org/doi/10.1126/science.abm9326)

All-In E79 on RvW leaked draft: https://youtu.be/qH696z3ml1Q)