Tariffs, Trump's Economic Endgame, Market Chaos, Bitcoin Reserve, CoreWeave IPO

**Joe Lonsdale** (0:00)
Brian Johnson, that's so funny. I, who knows?

**Chamath Palihapitiya** (0:03)
I am the king of nighttime erections. I go to bed thinking about myself, and I wake up thinking about myself. There's a big correction in between.
Love you, S.I.D.E.

**Jason Calacanis** (0:31)
All right, everybody, welcome back to the number one podcast in the world. Man, we're starting off with three of the four original band members, Chamath Palihapitiya, he's your chairman dictator, the sultan of science, David Friedberg. And of course, I'm your host, Jason Calacanis. And David Sacks from the original band will be on the second half of the show. We're going to do some of the classics. Yes, we get some of the classics, including Ukraine, Ukraine, Ukraine, coming up on the second half of the show in our Greatest Hits revival tour. But with us again, sitting in the Red Throne is the one, the only Joe Lonsdale is back. He is, if you can imagine, further right than Keith Raboi and Sacks. They tell him to pump the brakes. Welcome back to the program, Joe Lonsdale. How you doing, brother?

**Joe Lonsdale** (1:20)
Hey, Jason, doing great here in Texas today.

**Jason Calacanis** (1:23)
Ah, yes, I see you right over the hill on the ranch. Our ranches are within 20 minutes of each other. Joe Lonsdale and I are shooting guns at our ranches.

**David Friedberg** (1:31)
Are you on a ranch, Joe?

**Joe Lonsdale** (1:33)
Well, I bought a bunch of the homes and connected them, so it's kind of like a ranch, but it's actually a suburb.

**Jason Calacanis** (1:38)
Yeah, it's more like a compound. He has a compound.

**David Friedberg** (1:40)
Suburb.

**Jason Calacanis** (1:42)
The creaking sound here are the libs rolling in the guillotines. Yes, he bought the small town he lives in. Joe Lonsdale is here. Of course, he is a venture capitalist, the founder of 8VC. They've got 6Billi in AUM, co-founded Palantir, OpenGov and Adipar, $3 billion plus companies he co-founded and an early investor in Andrel. I'm in the market for secondary shares. You know how to reach me, folks. If you're selling your secondary in Andrel, I'm building a position for obvious reasons. And Oculus Wish, Oscar Health, amongst his other investments. Hey, what was the feedback, Joe, on your first appearance here on the All-In pod?

**Joe Lonsdale** (2:19)
People loved it. You know, you guys gave me no warning. So I was like on a mobile phone sideways, but it worked out. It was great. Everyone saw it. I guess it looks like people actually watch your show, Jason. It was surprising.

**Jason Calacanis** (2:27)
Apparently, people tune in from time to time. And that's why we call it the number one podcast in the world. How are you doing, Chamath Palihapitiya? How are you doing, brother?

**Chamath Palihapitiya** (2:35)
I'm doing really well. Hmm.

**Jason Calacanis** (2:38)
OK. Once again, giving me a ton to work with there. And Friedberg.

**Chamath Palihapitiya** (2:42)
Wait, what would you like to know? Why don't you ask me a question?

**Jason Calacanis** (2:44)
Oh, well, I asked you how you're doing. Maybe you say, oh, I had a great time with my kids. I took them to Disneyland or, I don't know, Chef made an amazing arugula. You used to give me some color to work with here.

**Chamath Palihapitiya** (2:56)
Nat was in Rome all last week.

**Jason Calacanis** (2:58)
Great. What was she doing in Rome?

**Chamath Palihapitiya** (3:01)
She had to go see her factory. She also had to go and renew her visa at the US. Embassy there.

**Jason Calacanis** (3:06)
Okay, so she's renewing her visa. Hopefully she'll be able to get back in the country. I know we've tightened up the borders.

**Chamath Palihapitiya** (3:12)
Well, she's on an EB2 visa. She should switch to this EB5 as soon as it's announced.

**Jason Calacanis** (3:17)
Ooh, yes, you can get the golden visa.
And I think you already put it down payment on. Friedberg, how was your week? How's everything going at Ohalo? You're having a productive week?

**David Friedberg** (3:26)
As one of my management team members told me today, it's a very complex business. That's usually not a good sign when the conversation starts with that.

**Jason Calacanis** (3:34)
Is that a way of saying everything's f***ed?

**David Friedberg** (3:36)
No, no, we were good. I was on the road this week. I just got back.

**Jason Calacanis** (3:40)
I mean, it's hard. Running a business is hard. You hire the smartest people you know. And what happens, they bring you all the problems they can't solve. So it's never easy. We've got an incredible docket today. Let's just start with. I'll give you a quick recap, boys, of the week since we last taped to say the zone was flooded, in the words of Steve Bannon, would be an understatement. Here's your Trump tsunami for the week. Thursday, when we taped the Epstein file dump fiasco, you remember that, Joe, right? Big zero, big nothing burger. Then, Friday, Zelensky was dressed down and kicked out of the White House by the Vice President and Presidents. Markets collapsed, they rebounded. On Saturday, we got a beautiful day off, video of Trump dancing down a catwalk to YMCA. Maybe he played some golf. He was at the White House South, Mar-a-Lago. Sunday, 924 a.m. Eastern, the President pumps three specific cryptos, Solana, Cardona, XRP, to be in the first government strategic crypto reserve. Joe Lonsdale starts tweeting, I start tweeting, everybody's tweeting. He quickly retweeted himself, included Ethereum and Bitcoin, some decentralized coins. Reaction was, wow, crazy. You had a little bit of a spicy take, Joe. We'll get into that later. And I'm sure our friend David Sacks will have much to say in the second half of the program. But it was pretty negative. Cardona ripped 70%, XRP 32%, Solana 25%.