Jay Powell

So picking the winner is going to be hard to figure out.

Well, when we were picking famously Uber, you had to pick between sidecar, Lyft and Uber. There were three people doing it and it was pretty clear who was the most qualified amongst those three. Now, to your point, if you want to be involved in tax, plus AI or legal plus AI, you might be looking at 50 companies, 100. And it was tradition in Silicon Valley to not bet on competitors.

Well, when we were picking famously Uber, you had to pick between sidecar, Lyft and Uber. There were three people doing it and it was pretty clear who was the most qualified amongst those three. Now, to your point, if you want to be involved in tax, plus AI or legal plus AI, you might be looking at 50 companies, 100. And it was tradition in Silicon Valley to not bet on competitors.

There were some notable exceptions. When you run an accelerator, like I do, Techstars or Y Combinator, you aren't bound by that because 50% of the companies pivot almost by design. So I think you just have to, I think, precede Because people pivot, you just have to tell people, listen, we have a lot of pivoting going on. People are going to run into each other.

There were some notable exceptions. When you run an accelerator, like I do, Techstars or Y Combinator, you aren't bound by that because 50% of the companies pivot almost by design. So I think you just have to, I think, precede Because people pivot, you just have to tell people, listen, we have a lot of pivoting going on. People are going to run into each other.

I can't just bet on one thing in a space. I think that's a reasonable compromise. If all the founders are going to keep pivoting to each other's businesses, how can the investors even keep track of that? It's like being traffic control of 10 airports at once. It's just not feasible.

I can't just bet on one thing in a space. I think that's a reasonable compromise. If all the founders are going to keep pivoting to each other's businesses, how can the investors even keep track of that? It's like being traffic control of 10 airports at once. It's just not feasible.

Yeah. In fact, Chamath has made a big bet there with his time, with his software startup that he's created. All right, let's end on the United States of America growing from 50 to 60 or 70 states. Trump has been rattling off some ideas. Around this, Chamath, what's your take on it? I know we've got to get wrapped up here, so we'll just do a quick lightning round on it.

Yeah. In fact, Chamath has made a big bet there with his time, with his software startup that he's created. All right, let's end on the United States of America growing from 50 to 60 or 70 states. Trump has been rattling off some ideas. Around this, Chamath, what's your take on it? I know we've got to get wrapped up here, so we'll just do a quick lightning round on it.

Having a capable business executive thinking about the future of business and shipping and logistics, pretty big win. And I just love the idea, Cyan.

Having a capable business executive thinking about the future of business and shipping and logistics, pretty big win. And I just love the idea, Cyan.

It's pretty smart. Any thoughts on expanding the United States to a couple more territories and states? I love it. I would love to have 60 states in our lifetime. I mean, let's pick one in the Caribbean. Let's pick one in Europe. I think we should have an open invitation.

It's pretty smart. Any thoughts on expanding the United States to a couple more territories and states? I love it. I would love to have 60 states in our lifetime. I mean, let's pick one in the Caribbean. Let's pick one in Europe. I think we should have an open invitation.

Freeberg, what do you think about opt-in imperialism and this incredible concept of expanding our territories in the 21st century?

Freeberg, what do you think about opt-in imperialism and this incredible concept of expanding our territories in the 21st century?

No, I have not. No.

No, I have not. No.

I think he has a really interesting explanation. Because we had Gavin explain it last time. Say, welcome to Conspiracy Corner.

I think he has a really interesting explanation. Because we had Gavin explain it last time. Say, welcome to Conspiracy Corner.

They floated the rocks up, yes. It's brilliant.