Chamath

I'm not worried about the hollowing out of that class.

I'm not worried about the hollowing out of that class.

You have disdain for them. But I mean, just in terms of the labor market, what do you see, you know, in companies right now, you know, hiring the talent pool, et cetera?

You have disdain for them. But I mean, just in terms of the labor market, what do you see, you know, in companies right now, you know, hiring the talent pool, et cetera?

Well, I mean, in tech, things are pretty good. I mean, they're not as absurdly frothy as they were during the bubble of 2020 and 2021, but things are good. You have this huge AI tailwind now, and there's just a ton of investment going into AI. There's a little bit of a tale of two cities going on. If you're in AI, things are really bubbly.

Well, I mean, in tech, things are pretty good. I mean, they're not as absurdly frothy as they were during the bubble of 2020 and 2021, but things are good. You have this huge AI tailwind now, and there's just a ton of investment going into AI. There's a little bit of a tale of two cities going on. If you're in AI, things are really bubbly.

And if you're outside AI, they've returned to much more normal levels in terms of valuation and company operations, all that kind of stuff. Just to go back to the state of the economy for a second, the reason why a lot of people were predicting a recession, including me for a while, is that the yield curve inverting has been an almost perfect gauge of whether a recession is coming.

And if you're outside AI, they've returned to much more normal levels in terms of valuation and company operations, all that kind of stuff. Just to go back to the state of the economy for a second, the reason why a lot of people were predicting a recession, including me for a while, is that the yield curve inverting has been an almost perfect gauge of whether a recession is coming.

It's when basically the Fed raises short-term interest rates above long-term interest rates. Normally, long rates are the ones that should be higher because investors demand a higher rate of return to tie up their money for longer. So something's really

It's when basically the Fed raises short-term interest rates above long-term interest rates. Normally, long rates are the ones that should be higher because investors demand a higher rate of return to tie up their money for longer. So something's really

and kind of broken when short rates go above long rates the yield curve inverts and it's always been the prelude to a recession but the recession doesn't come when the yield curve inverts it usually comes when the yield curve D inverts and the reason for that is because the Fed now sees weakness and dramatically cuts the short rates so in other words it jacks up the short rates to control inflation that works it trickles through the economy the economy cools down and

and kind of broken when short rates go above long rates the yield curve inverts and it's always been the prelude to a recession but the recession doesn't come when the yield curve inverts it usually comes when the yield curve D inverts and the reason for that is because the Fed now sees weakness and dramatically cuts the short rates so in other words it jacks up the short rates to control inflation that works it trickles through the economy the economy cools down and

And then the Fed says, oh, maybe we've overcorrected. They slam on the brakes and then they cut rates to basically make up for the effect on the economy. So the yield curve has finally de-inverted. And the question is just, do we now get that recession or did the Fed manage this to a soft landing? I don't think we know. I'm not

And then the Fed says, oh, maybe we've overcorrected. They slam on the brakes and then they cut rates to basically make up for the effect on the economy. So the yield curve has finally de-inverted. And the question is just, do we now get that recession or did the Fed manage this to a soft landing? I don't think we know. I'm not

I'm not like calling a recession, but this is the thing that people are concerned about. Yeah.

I'm not like calling a recession, but this is the thing that people are concerned about. Yeah.

Well, Sax, we were talking about AI in the group chat, right?

Well, Sax, we were talking about AI in the group chat, right?

Yeah. I think it's now becoming really clear that call centers are going to be the first really big disruption caused by AI. Yeah. I mean, all the level one customer support is going to get replaced by AI. I mean, LLMs plus voice because, you know, OpenAI just released their audio API and You saw that at the All In Summit, we released a Mearsheimer AI where we trained it on all of his work.

Yeah. I think it's now becoming really clear that call centers are going to be the first really big disruption caused by AI. Yeah. I mean, all the level one customer support is going to get replaced by AI. I mean, LLMs plus voice because, you know, OpenAI just released their audio API and You saw that at the All In Summit, we released a Mearsheimer AI where we trained it on all of his work.