Mag 7 sell-off, Wiz rejects Google, UBI, Kamala in, China's nuclear buildout, Sacks responds to PG

**Jason Calacanis** (0:00)
Oh no, gosh, I'm having some technical difficulties, Friedberg. There's something happening.

**Chamath Palihapitiya** (0:05)
Oh, you got a bit? Oh, something's breaking in.
What's happening?

**Friedberg** (0:08)
Oh no, my camera is not working, but I sense something is happening, guys. It's like a transformation I'm going through.

**SPEAKER_4** (0:15)
You're not going to believe it. Yes, it is I, Nostracanis, I'm here.

**Friedberg** (0:20)
I'm here, Nostracanis has arrived.

**SPEAKER_4** (0:24)
I have predicted the hot swap, Sacks. Can I get my flowers now from you, Sacks?
You need to bring-

**David Sacks** (0:30)
Yeah, I give you, I absolutely give you credit for that. You also predicted a speed run primary, which is the opposite of what happened.

**SPEAKER_6** (0:36)
Okay, well-

**David Sacks** (0:37)
So one out of two is not bad though.

**SPEAKER_4** (0:39)
Nostracanis did not account for the Democratic Party being run by the deep state, huh? But I'm having a vision.

**SPEAKER_7** (0:49)
Producer Nick, there's a vision for you coming in to view.

**SPEAKER_6** (0:56)
Yes, your uncle has been bought out of the All In Podcast that's going for MAGA and he got the $25 million buyout deal and he gave you 20%. We're leaving, we're going to start a new podcast and Jared Kushner is the new moderator here.
Oh no, wait, it's JD, no, it's Alex Jones. Starting next week, Alex Jones, the new host.

**Friedberg** (1:43)
Alright, let's get started here. We've got a full docket, we've got Civil Wars, everything is going down in All In Land. It is episode 189

**Jason Calacanis** (1:54)
You're not done with us yet, folks.

**Friedberg** (1:55)
The world's number one podcast is still publishing. The world is still spinning.

**Chamath Palihapitiya** (2:00)
Hey, did you announce that you've moved to Texas?

**Friedberg** (2:03)
I did, I did.

**Jason Calacanis** (2:04)
I did a little tweet.
We moved to Austin a little earlier this year. We have a horse ranch and we've always wanted to move to Austin. We looked during the pandemic, thanks for asking, Chamath, and we wanted to have a ranch and horses and live a more homesteading lifestyle. And obviously a lot of our friends are in Austin. So I'll still be spending a lot of time in the Valley in New York, like I always do in Miami, but the home base and the girls are going to school and in Austin.

**Chamath Palihapitiya** (2:34)
How was it going so far? It's super hot, isn't it? In the summer time?

**Jason Calacanis** (2:36)
The summers are hot, but most people decamp. So we'll decamp for Tahoe or Park City or something during the summer months and the winter months to go skiing and get a little lake time or whatever.
And yeah, we're really, really excited. We found an incredible horse farm and we're going to raise animals and horses and just enjoy these last years with the girls.
While, you know, some big announcements coming in terms of my accelerator and my investing in startups in Austin. So I'll save those announcements for maybe the fourth quarter. Some big announcements will happen. And yeah, I'm just super excited. Obviously I'm going to miss, you know, the weekly poker game, but I will be back on the regular and we'll just do a double session, play Friday, Saturdays. We'll do. You got to get for two days in a row. We'll just do a full Friday session. Everybody take my Fridays.

**Chamath Palihapitiya** (3:27)
I'm sad to see you go.

**Jason Calacanis** (3:28)
The one thing I'm sad about is like missing the Thursday game, but I'll be back regular.

**Erik Friedberg** (3:33)
Don't forget Science Corner today. We got a great Science Corner lined up.

**Jason Calacanis** (3:36)
Absolutely, absolutely.

**Erik Friedberg** (3:37)
Sacks is looking forward to it. Sacks is texting me all week about it. He's like, I can't wait for Science Corner. I'm thrilled. He was shaking nervously.
He's ready.

**Friedberg** (3:47)
Sacks does not look amused.

**Jason Calacanis** (3:50)
All right, let's get started. Wiz has declined Google's $23 billion offer and it intends to IPO. Some big news there. Last week we talked about Google offering to acquire this cloud security startup for 23 billion. CNBC reported Wiz declined Google's offer. Wow, that's big time because Wiz was valued at 12 billion in its most recent funding round. They've got about 500 million in ARR.
So this $23 billion is a massive, massive, 50 times current revenue, 23 or so times forward-looking revenue. They think they'll hit a billion in ARR. This is a company that was founded in 2020
And just so if you don't know what they do, they help people secure their data in clouds like AWS, Azure, Google Cloud, all that good stuff. But high growth SaaS businesses are trading at a 10X forward revenue multiple. There's the chart. This is obviously an absurd premium.