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All-In with Chamath, Jason, Sacks & Friedberg

Rick Caruso on California’s Collapse: Broken Leadership, LA Wildfire Failures & the Fix

30 Sep 2025

22 min duration
3975 words
6 speakers
30 Sep 2025
Description

(0:00) Introducing Rick Caruso (1:03) Reflecting on the disastrous LA Wildfires: Karen Bass failure, saving the Palisades Village, failure to rebuild (11:20) California’s incompetence, running for CA Governor vs LA Mayor (14:21) Attention to detail (17:04) State of California: What it should be, homelessness, National Guard, policing Thanks to our partners for making this happen! Solana - Solana is the high performance network powering internet capital markets, payments, and crypto applications. Connect with investors, crypto founders, and entrepreneurs at Solana’s global flagship event during Abu Dhabi Finance Week & F1: https://solana.com/breakpoint OKX - The new way to build your crypto portfolio and use it in daily life. We call it the new money app. https://www.okx.com/ Google Cloud - The next generation of unicorns is building on Google Cloud's industry-leading, fully integrated AI stack: infrastructure, platform, models, agents, and data. https://cloud.google.com/ IREN - IREN AI Cloud, powered by NVIDIA GPUs, provides the scale, performance, and reliability to accelerate your AI journey. https://iren.com/ Oracle - Step into the future of enterprise productivity at Oracle AI Experience Live. https://www.oracle.com/artificial-intelligence/data-ai-events/ Circle - The America-based company behind USDC — a fully-reserved, enterprise-grade stablecoin at the core of the emerging internet financial system. https://www.circle.com/ BVNK - Building stablecoin-powered financial infrastructure that helps businesses send, store, and spend value instantly, anywhere in the world. https://www.bvnk.com/ Polymarket - https://www.polymarket.com/ Follow Rick Caruso: https://x.com/RickCarusoLA Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg

Audio
Transcription

Chapter 1: Who is Rick Caruso and what is his background?

0.031 - 11.534 Jason

For people who don't know who Rick Caruso is, he's a great developer. You walk into one of Caruso's places and it's safe, it's clean, you want to bring your kids. Ideology did not save the Palisades.

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Chapter 2: What failures contributed to the disastrous LA Wildfires?

11.554 - 23.173 Jason

Competency would have. Running this city is running a business for the benefit of the residents. You've got to make good business decisions. It was predictable, Bill. What's predictable is preventable.

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23.493 - 28.678 Rick Caruso

Rick Caruso now has a golden road in the governor's race, if he wants it.

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28.939 - 34.244 Jason

What's happened to LA over the last decade is just tragic. It's sad to watch.

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Chapter 3: How does Rick Caruso view the leadership in California?

34.965 - 39.589 Friedberg

Ladies and gentlemen, please welcome Rick Caruso.

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49.036 - 49.778 Chamath Palihapitiya

Good to see you, brother.

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49.798 - 51.282 Friedberg

Thank you for coming.

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51.663 - 57.158 Chamath Palihapitiya

Thank you very much. All right. Make my rounds. Thank you. Good seeing you.

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58.201 - 89.537 Friedberg

Hello, everybody. All right. Rick, we're nine months out from the tragic fires. So much has happened. So much has happened. Karen Bass, so incompetent, such a disgraciad. Disgraciad. Disgraciad. My Italian brother in here. But when you look at it in all seriousness, you had some properties there and you've always been an innovator. Everybody knows the Grove.

89.577 - 112.978 Friedberg

I spent so much time there with my beautiful daughter, Lotus, and my beautiful wife, Jade. Just what a gift you've given so many times over to this amazing city. And then you watched this horrible incompetence and yet you innovated and you had this incredible insight that when the fires were coming, you would get water.

112.958 - 131.423 Friedberg

in trucks and bring it to the Pacific Palisades and then you found this unique group of innovators called firefighters and you also brought some of them. What did you see in this incredible moment of clarity that when the fires were coming that Karen Bass didn't see?

131.572 - 158.119 Jason

Well, the first thing I did is I stayed in town. You didn't abandon the city. I think when you want to be a leader, you should probably be present. Good start. That's a good rule. Listen, we learned a lot when we were building our resort up in Montecito, in Miramar. We had fires there that were threatening the construction site. We were just under construction.

158.099 - 175.7 Jason

And I had a very smart guy still do on the team, name is Banyan, and he's the one that said, we can bring in private firefighters, we can bring in our own water trucks, we can bring in retardant. And listen, here's another rule that's really important when you're in the commercial side of the business.

Chapter 4: What innovative strategies did Caruso implement during the wildfire crisis?

384.264 - 393.341 David Sacks

What's important is that she satisfies this political machine that keeps her in office. She wasn't a particularly distinguished candidate or anything like that. She'd just been around the block for a long time.

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395.834 - 411.253 David Sacks

And frankly, we had the best candidate to ever challenge Karen Bass, which was you, a successful businessman. Unbelievable. And the proof of that is that... I love this crowd, by the way. This crowd is intelligent. Yeah. Yes, they are.

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411.373 - 420.284 David Sacks

And the proof of that was in the fires, because I think it's pretty obvious that the Palisades wouldn't have burned to the ground if you had been the mayor, because you would have made sure that there was water in the fire hydrants.

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420.304 - 441.714 Jason

Right. David, what's amazing to me is, and we're waiting for this action after action report, which is incredible, we don't even have it yet. But I was convinced nine months ago, I'm more convinced today, that fire was completely preventable. And if you think I'm wrong and it wasn't completely preventable, the damage could have been significantly mitigated.

442.495 - 468.348 Jason

The fire department was never pre-deployed. Where the fire started is the same exact place that there was a fire seven days before. I think what we're gonna see is the fire department did not put that original fire out. It smoldered and reignited. When it reignited, the winds were not here yet. The smoke was going straight up. We had the largest reservoir not filled with water.

469.85 - 491.063 Jason

I mean, I got the call at night, the family was together, your daughter's home is burning down, and the firefighters, their hoses have stopped. There is no more water in the fire hydrants. And I said, how can that be? We're the second largest city in the country. Impossible. But listen, I think all of it is fixable. So I'm an optimist.

491.279 - 515.498 Jason

And with the right kind of leadership, and I'm not saying it's me, I'm just saying in general, in this state, in this city, in this country, with the right kind of leadership that is competent, eager, and willing to make decisions because they want to do what's best for the people they serve and not worry about getting reelected, great things can happen. And that's my hope for this region.

515.518 - 535.67 Unknown

Why is this happening around the nation? When you look at Portland, Seattle, Chicago, New York, these cities around this country, we're seeing similar kind of systems of decay and degradation. They're blue, that's why. What did you say? No, he said they're blue. But I want to, like, is that really what's going on?

Chapter 5: How is the rebuilding process in California progressing after the wildfires?

978.73 - 1005.227 Jason

you look at the rosewood miramar our resort we have a full train running through it everybody stayed away from that property and when i announced we're going to build a five-star hotel everybody said you're crazy got a train running through it we made the train an amenity right we built a bar next to it with a bell that gets rung when the train comes by and people celebrate it yeah so that's enriching lives i i just love watching people

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1006.27 - 1024.418 Jason

enjoy their life. And that's what fuels my public service. And it's what I really enjoyed when I worked for three mayors, when I worked for Tom Bradley and Dick Reardon and Jim Hahn. You can actually make changes in public service that makes people's lives better How great is that?

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1024.438 - 1044.584 Unknown

That's great. People don't know this widely, but tomorrow is the 175th anniversary of the State of California. Governor Newsom, it's a great state. It is a great state. It's an amazing place. Governor Newsom is giving his State of the State tomorrow morning. If you were in that seat, what would you say at the State of the State tomorrow?

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Chapter 6: What role does red tape play in California's rebuilding efforts?

1044.684 - 1047.027 Unknown

What's your read on the State of the State of California?

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1047.867 - 1070.685 Jason

I think the state of California should lead the nation in everything that we do. I think the state of California should have the best housing, it should have the best school system, the lowest crime rate, we should not have homeless living on the streets, we should have opportunities for people to grow a business, raise their family, feel good about life, be enriched, and we should be in the top

0

1070.783 - 1091.435 Jason

of every category that you want to measure quality of life. If you say we're the fourth largest economy in the world, which our elected officials say very often, then act like it and the people of California should be benefiting from being the fourth largest economy in the world.

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1091.555 - 1100.793 Friedberg

How would you deal with homeless? You've got these encampments. We're driving around here in downtown LA. Yeah. It had such a renaissance for a short period of time. It feels like it's devolved again.

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1100.813 - 1101.555 Jason

It has.

1101.935 - 1112.94 Friedberg

And it just seems to me that there just should be zero tolerance for camping on the street. Yet here we are again with encampments everywhere. What would be your approach?

1113.511 - 1144.978 Jason

Well, my approach was simple when I ran is you can't allow encampments on the street, but you've got to give people who are on the streets an opportunity to have a productive life. So give them the services they need, build the housing that they need. We are spending in the city of Los Angeles. $900,000 per person that they're removing from the streets. $900,000. Per year? Yeah. Oh, my God.

1145.098 - 1167.132 Jason

There's billions and billions of dollars wasted. Redirect that to organizations that have incredible track records of being successful in Los Angeles. of housing people, giving them the services for mental health and drug addiction. And the first thing you do is you do not allow the sale of drugs on the street. Right now we do. I mean, that's a crime. It's illegal. Don't allow it.

1167.773 - 1168.393 Unknown

It is a crime.

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