OpenAI's $150B conversion, Meta's AR glasses, Blue-collar boom, Risk of nuclear war

**Jason Calacanis** (0:00)
All right, everybody, let's get the show started here.

**David Sacks** (0:02)
Wait, Jason, why are you wearing a tux? What's going on there?

**Jason Calacanis** (0:05)
Oh, well, it's time for a very emotional segment we do here on the All-In podcast. I just got to get myself composed for this.

**Chamath Palihapitiya** (0:16)
Jason, are you okay?

**Jason Calacanis** (0:17)
I'm going to be okay, I think.

**David Sacks** (0:19)
It looks like you're fighting back a tear.

**Jason Calacanis** (0:21)
Yeah, this is always a tough one. This year, we tragically lost giants in our industry. These individuals bravely honed their craft at OpenAI before departing. Ilya Suskiyver, he left us in May.
Jan Lajka, also left in May. John Schulman, tragically left us in August.

**David Sacks** (0:50)
Wait, these are all OpenAI employees?

**Jason Calacanis** (0:53)
Yes. Jairad Sof, left on Wednesday. Bob McGrew, also left on Wednesday.

**David Sacks** (0:59)
Too short, too short.

**Jason Calacanis** (1:01)
And Mira Maradi, also left us tragically on Wednesday.

**David Sacks** (1:06)
We lost Mira too?

**Jason Calacanis** (1:07)
Yeah. And Greg Brockman is on extended leave.

**David Sacks** (1:12)
The enforcer? He left too?

**Jason Calacanis** (1:14)
Thank you for your service. Your memories will live on as training data.

**David Sacks** (1:50)
And without its people.

**Jason Calacanis** (1:55)
Well, I mean, this is a great... Whoa, we lost them. What's come back?

**Eric Friedberg** (1:59)
Wait, oh.

**David Sacks** (1:59)
Whoa, wait, what?

**Eric Friedberg** (2:03)
This is like the photo... She stands alone. It's like the photo in Back to the Future.

**Jason Calacanis** (2:07)
Wow, they're just all gone. Wait, oh no, don't worry. He's replacing everybody. Here we go. Let's replace it with a G700, a Bugatti, and I guess Sam's got mountains of cash. So don't worry, he's got a backup plan, Chamath. Anyway, as an industry and as leaders in the industry, the show sends its regards to Sam and the OpenAI team on their tragic losses. And congratulations on the $150 billion valuation and you're 7%.
Sam now just cashed in $10 billion apparently. So congratulations to a fan of a friend of the pod, Sam Ommen.

**Eric Friedberg** (2:39)
Is the round done? That's all repeatedly out of some article, right? That's not confirmed or anything.

**Chamath Palihapitiya** (2:44)
Is all of that done?

**Jason Calacanis** (2:45)
I mean, it's reportedly allegedly that he's going to have 7% of the company and we can jump right into our first story.

**Chamath Palihapitiya** (2:52)
I mean, what I'm saying is, has the money been wired in the docksman side?

**Jason Calacanis** (2:55)
According to reports, this round is contingent on not being a nonprofit anymore and sorting that all out.

**David Sacks** (3:04)
They have to remove the profit cap and do the C Corp.

**Eric Friedberg** (3:06)
There's some article that reported this, right?

**David Sacks** (3:08)
None of us have for its hand. It's not some article, it's Bloomberg, and it got a lot of traction, and it was re-reported by a lot of places, and I don't see anyone disputing it.

**Eric Friedberg** (3:18)
So is mainstream media?

**Jason Calacanis** (3:20)
We trust the mainstream media in this case, because it aligns with Sacks' interest.

**David Sacks** (3:24)
I think that-

**Eric Friedberg** (3:24)
When we could do a good bit, yeah.

**Jason Calacanis** (3:26)
That's mine.

**David Sacks** (3:26)
No, I think that Bloomberg reported it based on, obviously, talks that are ongoing with investors who have committed to this round.

**Eric Friedberg** (3:34)
Yeah.

**David Sacks** (3:34)
And no one's disputing it. Has anyone said it's not true?

**Jason Calacanis** (3:37)
This has been speculated for months, the $150 billion valuation raising something in the range of six to seven billion. If you do the math on that, and Bloomberg is correct, that Sam Altman got his 7 percent. I guess that would be $10 billion.

**Eric Friedberg** (3:54)
The reality is, you can't raise $6 billion without probably meeting with a few dozen firms, and some number of junior people in those few dozen firms are having a conversation or two with reporters. So you can kind of see how it gets out.

**Jason Calacanis** (4:08)
All right. And before we get to our first story there about OpenAI, congratulations to Chamath. Let's pull up the photo here. He was a featured guest on the Alex Jones show. No, sorry. I'm sorry. That would be Joe Rogan. Congratulations on coming to Austin and being on Joe Rogan. What was it like to do a three-hour podcast with Joe Rogan?

**Chamath Palihapitiya** (4:32)
It's great. I mean, I loved it. He's really awesome. He's super cool. It's good to do long-form stuff like this so that I can actually talk.