E142: "Rich Men North of Richmond" hits #1, upward mobility, real estate capital crunch, Trump RICO

**Jason Calacanis** (0:00)
Oh my God, Sacks looks like I got hit by a Mack truck.

**David Friedberg** (0:02)
You okay, little fella?

**Chamath Palihapitiya** (0:04)
How long were you out last night, Sacks?

**Jason Calacanis** (0:06)
Oh boy, did you see this message?

**Chamath Palihapitiya** (0:09)
I got the text messages. I was like, what the fuck is going on over there? I gotta get back to the United States.

**Jason Calacanis** (0:14)
Timestamp, 1:39 a.m. Pacific.
I'm still out drinking tonight. There's no way I'm making 9 a.m. I'll do 10 a.m. to noon. This is Sacks, the negotiation has begun.

**Chamath Palihapitiya** (0:26)
And I'm waking up, it's my last day on the boat. I'm trying to get off the boat in a reasonable manner. And that's the first text message I get.

**Jason Calacanis** (0:32)
That's the first text.
Ben, six minutes later, Drake just came in. Better make it 11

**David Sacks** (0:56)
Do you want to tell you the story?
So, the thing I would compare it to is, do you remember that episode of Seinfeld where Costanza stumbles onto the model bar? You know, he finds the place that all the supermodels are hanging out. And he calls it Shangri-La because it's like this mythical place. And he spends the rest of his life trying to find Shangri-La again, but he can never find it.

**Chamath Palihapitiya** (1:16)
Yes.

**Jason Calacanis** (1:17)
That was you last night in LA.

**David Sacks** (1:19)
Well, so we were just out having a few drinks at this private club that's new in town. It's just me and my WACPAC and the room is, it's just a few of us having drinks.

**Chamath Palihapitiya** (1:30)
Sorry, who is your WACPAC? We can bleep out these things.

**David Friedberg** (1:32)
How many of the WACPAC are on salary versus... He's like an NBA player.

**Chamath Palihapitiya** (1:37)
It's like he rolls in with six people. What percentage do you pay and what percentage are your friends?
Yes.

**David Friedberg** (1:45)
He's doing a calculation.

**David Sacks** (1:47)
I guess about half receive some sort of monetary payment from me. Not all of them are direct employees, some are vendors.

**Jason Calacanis** (1:54)
Some are vendors, okay, got it.

**David Friedberg** (1:58)
Of course, real estate brokers, like Blackwater. You don't have to have them on payroll.

**Jason Calacanis** (2:04)
So yeah, they're fee-based. They're fee-based.

**David Sacks** (2:07)
You could call it an entourage.

**Chamath Palihapitiya** (2:08)
How many rolling your entourage? How many are there?

**David Friedberg** (2:11)
Five?

**Chamath Palihapitiya** (2:12)
Four?

**Jason Calacanis** (2:12)
I'm going to say six.

**David Sacks** (2:13)
I think we had about five people out.

**Jason Calacanis** (2:14)
Okay, great. That's an entourage. That's perfect. Because that you can get into the club with that.

**David Sacks** (2:19)
It's more like a private club.
It's not like, you know, a different kind of club. Yeah.

**Jason Calacanis** (2:23)
Now you're a member of this club, I take it.

**David Sacks** (2:25)
Yeah, I'm a member.

**Jason Calacanis** (2:26)
Got it.

**David Sacks** (2:26)
Okay. So we're just hanging out there having drinks and, you know, the room's empty. It's just us. And all of a sudden, there's like a subtle vibe change that happens.
And we look around like five minutes later, the whole place is full. And it's like Shangri-La, basically, and we're like, what just happened?

**Jason Calacanis** (2:45)
What happened?

**David Sacks** (2:45)
And then Drake walks in.

**Jason Calacanis** (2:47)
Ah.

**David Sacks** (2:47)
And we're like, oh, okay.

**Jason Calacanis** (2:49)
Got it.

**David Sacks** (2:49)
And he performed at a concert in LA that night. So the after party was basically at this place.
So it's not like we were hanging out with him.

**Jason Calacanis** (2:56)
What were you drinking? Are you on the tequila still? Or what are you on right now? You seem to love that tequila. Are you on the ranch water still?

**David Sacks** (3:02)
Yeah. I used to like bourbon or scotch, but now these sort of highly refined tequilas are better. So the Claussosul is probably my favorite.
Claussosul Reposado. Yeah. These reposados are on Yeho's are really great. And I've advocated to this group that we should actually have our own All-In tequila label.

**Jason Calacanis** (3:23)
I'm in. I'm in.

**David Sacks** (3:24)
So we'll see if the fans like that idea, let us know in the comments and we'll work on it.

**Jason Calacanis** (3:29)
Well, now, how do you drink it? Are you a neat guy? You put a couple of ice cubes in or do you do like a Bill Gurley ranch water situation?

**David Sacks** (3:35)
What's the ranch water? What do you mean by ranch water?