Winning the AI Race Part 2: Vice President JD Vance

**Chamath Palihapitiya** (0:00)
I'm very excited to announce that the Vice President, JD Vance, is going to be with us today. The last time that we saw the Vice President on stage like this at an All-In Summit, he wasn't the Vice President yet. It was about 10 months ago at the All-In Summit that we did last year, and obviously a lot has changed. I think he's been doing a phenomenal job in making us all proud, and it's going to be great to catch up with him. So without further ado, Vice President JD Vance.

**JD Vance** (0:31)
How are you? Good to see you, Ben.

**Chamath Palihapitiya** (0:33)
David, good to see you.

**JD Vance** (0:34)
What's up, brother? Jason, how are you?

**Chamath Palihapitiya** (0:37)
How are you?

**JD Vance** (0:37)
Good to see you.

**David Sacks** (0:38)
How you doing? Good.

**JD Vance** (0:41)
So the last time I did this podcast, I think Jason was a huge asshole to me. He's the vice president. You're going to see it to be nice to me now, Jason.

**Jason Calacanis** (0:48)
Oh, it's on? Well, okay. Let me get my list of topics.

**David Friedberg** (0:52)
He was hoping you'd give him a White House tour later today. So we'll see how this goes.

**JD Vance** (0:56)
You're welcome to have a White House tour.

**Jason Calacanis** (0:57)
Really?

**JD Vance** (0:58)
I know a guy.

**Jason Calacanis** (0:58)
I asked David three times.

**Chamath Palihapitiya** (1:00)
His invitation has been lost in the mail a few times.

**Jason Calacanis** (1:03)
Well, no, actually, listen, if we're starting it up, congratulations on a great run.

**JD Vance** (1:07)
Thank you. I appreciate it.

**Jason Calacanis** (1:08)
It was fun. We can differ on some of the margins. But I just think all Americans appreciate the pace at which, especially in the technology industry, you're going and the effectiveness. I just want to congratulate you on that sincerely.

**JD Vance** (1:23)
I appreciate that.

**Jason Calacanis** (1:24)
Okay. So let's get into some topics. Immigration. When we last talked, you said, I said, hey, you're going to deport 20 million people all at once. That seems quite chaotic. And you said, no, we're going to do it like a sandwich. Take a couple of bites. How's that going?

**JD Vance** (1:40)
I think it's going well. I mean, we are criticized, interestingly, by some folks on the right who want the pace of deportations to be higher. And I certainly understand that, frankly, and share that frustration. The counter argument is the courts are trying to stop us at every step of the way. And until about a month ago, we didn't have the resources for ICE to actually get this massive invasion that Joe Biden led into our country. We didn't have the resources necessary to actually process a lot of those people. That has changed because of the big, beautiful bill. We've also gotten some court case wins. So I expect that the pace of deportations will increase a little bit. But importantly, when people criticize us and they say, you know, sometimes I'll hear this criticism, well, the pace of deportations from the Trump administration is actually lower than it was the Biden administration. And that's actually a completely fake statistic. It's based on the fact that if you come into the country illegally, and then the Biden administration processes you and sends you out, that counts as a deportation. It counts as an illegal immigration, and then it counts as deportation. So you have to look at the net number, right? If you do plus one, minus one, not a math expert, but I'm pretty sure that's zero, the net number is what really matters. And where the Trump administration, where we've been most wildly successful, is that we have, I think in 2025, we will have the first net negative immigration number in about 50 or 60 years in the United States. And so there has been a major, a major, major shift in immigration policy. Now again, I'm like, you know, me and Stephen Miller are probably the two most hardline people in the entire administration when it comes to immigration. So there's always more that we can do. And like I said, I think that there is more that we can do. But if you just look fundamentally, what people said is that if you actually take border enforcement seriously, the entire economy is going to collapse, inflation is going to go through the roof, housing costs are going to go through the roof. And if you look, while there's still a lot more to do, inflation has cooled, housing costs are now showing signs of peaking. I think according to Zillow, over the past 12 months, housing costs have gone up 0.8%.