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

Chamath Palihapitiya (0:00)

Did you just finish a good cry? Because you have this wetness right here on your eye.

Jason Calacanis (0:04)

Oh, sorry, I just got out of my cold plunge in my sauna, because I hit a new record low weight, 169 this week. Oh, hold on, I got to get my weights.

Chamath Palihapitiya (0:11)

What's your temperature on the cold plunge?

Jason Calacanis (0:13)

I don't want to say, it's embarrassing. It's embarrassing, I don't want to say.

Chamath Palihapitiya (0:16)

No, what is it?

Jason Calacanis (0:17)

I've been doing like 56, 58

Chamath Palihapitiya (0:20)

That's great.

Jason Calacanis (0:21)

It's okay, I mean, all these lunatics, like, I don't know, they're at 45 degrees, 48 degrees. I think it's unnecessary. You get the same value, I think, at 58

Chamath Palihapitiya (0:28)

No, my two-year-old does 56, it's really impressive.

David Sacks (0:32)

I consider an 80-degree pool to be a cold plunge. I don't get it unless it's like 85

Chamath Palihapitiya (0:38)

That's actually, I've been to pool parties at Sacks' house.

There's no difference between the hot tub and the pool. No, it's like a Schwitz, it's a Schwitz.

Jason Calacanis (0:46)

It's a full-on Schwitz.

Chamath Palihapitiya (0:47)

It's a Schwitz.

David Sacks (0:48)

If it's not the temperature of bath water, I don't get it.

Chamath Palihapitiya (1:08)

Yeah, it's a Schwitz, it's crazy.

Jason Calacanis (1:10)

And then I went in my infrared sauna, so now I've been going in, you do the cold, then the warm.

Chamath Palihapitiya (1:15)

I think you're supposed to do warm then cold, no?

Jason Calacanis (1:17)

They say end on cold, and so I've been ending on cold. But I just do like a cycle now.

Chamath Palihapitiya (1:22)

So you do cold, warm, cold.

Jason Calacanis (1:24)

Cold, warm, cold, yes.

Chamath Palihapitiya (1:25)

And what do you do, like two minutes, 10 minutes, two minutes, or what do you do?

Jason Calacanis (1:28)

Yeah, exactly, like one or two minutes cold plunge, four minutes you warm up, you get back to it, and then you jump back in. It works pretty good. I have to say, my energy level goes way up.

Chamath Palihapitiya (1:39)

Have you been tracking your blood pressure?

Jason Calacanis (1:42)

I have not, but I have this executive health coach that I'm using, and so that's where I got those ridiculous glasses, the blue lights, and my sleep's better.

I've taken some supplements. I'm eating...

David Sacks (1:56)

Estrogen?

Chamath Palihapitiya (2:00)

Are you taking more estrogen, bro?

Jason Calacanis (2:03)

No, estrogen levels are at an all-time high from hanging out with you guys.

It just oozes on to me. No, it turns out, even at 52, my testosterone is very high.

Chamath Palihapitiya (2:12)

What is your free testosterone?

Jason Calacanis (2:14)

I don't have the number here, but they said it's the high end of normal. So I was like, should I be shooting up testosterone? They're like, no, you're good.

You're good. Just we'll send it over to Friedberg. I said, all right, great. Send it over to Friedberg.

Chamath Palihapitiya (2:26)

A lot of people take testosterone in their 50s and 60s, and I've had a couple of my friends in their early 60s start... Is it HGH?

Jason Calacanis (2:36)

Human growth, yeah.

Chamath Palihapitiya (2:37)

Is that right? Not a good idea.

Jason Calacanis (2:39)

Seems like a really bad idea. That off-menu stuff, I don't think it's a good idea. I think you got to be careful with the off-menu items.

Chamath Palihapitiya (2:46)

I think you can get a prescription for it.

Jason Calacanis (2:48)

Is that right? Yeah. I know there's a lot of off-menu items available to affluent people with the right doctors, and I don't think it's a good idea.

Chamath Palihapitiya (2:56)

I mean, you guys see Bezos, he's jacked.

Jason Calacanis (2:59)

I didn't bring up anybody specifically, but...

Chamath Palihapitiya (3:01)

Jacked.

Jason Calacanis (3:02)

He looks great. I think that's just all weights.

Chamath Palihapitiya (3:05)

Is he going to be president?

Jason Calacanis (3:08)

I mean, if you had your choice right now between Bezos...

Chamath Palihapitiya (3:12)

And Bob Iger, who would you pick?

Jason Calacanis (3:13)

Trump and Biden, I think we know who you'd pick. I mean, listen, I was talking to some affluent people, and everybody's going Vivek.

Chamath Palihapitiya (3:22)

I was talking to some affluent people.

Jason Calacanis (3:24)

I don't want to say who, but Vivek is... Now people are starting to talk Vivek.

Chamath Palihapitiya (3:29)

I think he's hitting the right chords, man. Vivek is about to pass DeSantis. He will be, I think, if you look at the polling right now...