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The All-In Podcast
The AI Cold War: USA🇺🇸 vs China🇨🇳
On E221, the besties discussed how US efforts to impede China’s AI progress by restricting GPU exports are producing unintended consequences.
@chamath:
"The US government is really trying to make sure that these next-gen GPUs don't go directly to China, but also don't go to countries that could then redirect them into China."
@GavinSBaker:
" We're putting enough friction into the system that it does theoretically give America an advantage at the cost of creating tremendous incentives for China to develop their own semiconductor ecosystem and ... you know, necessity is the mother of innovation."
" These export controls are creating an immense incentive for China to be really algorithmically innovative."
"And you saw that with DeepSeek where there were some real algorithmic innovations."
@Jason:
" Said another way, if we squeeze too tightly on letting them buy the Nvidia chips, they might make a better Nvidia."
Chamath:
"They're trying now."
Jason:
"What are the chances they succeed in your mind, Gavin?"
Gavin:
" In the next five years, I think zero. I think it's really, really hard."
"But over ten years, who knows?"
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The AI Cold War: USA🇺🇸 vs China🇨🇳
On E221, the besties discussed how US efforts to impede China’s AI progress by restricting GPU exports are producing unintended consequences.
@chamath:
"The US government is really trying to make sure that these next-gen GPUs don't go directly to China, but also don't go to countries that could then redirect them into China."
@GavinSBaker:
" We're putting enough friction into the system that it does theoretically give America an advantage at the cost of creating tremendous incentives for China to develop their own semiconductor ecosystem and ... you know, necessity is the mother of innovation."
" These export controls are creating an immense incentive for China to be really algorithmically innovative."
"And you saw that with DeepSeek where there were some real algorithmic innovations."
@Jason:
" Said another way, if we squeeze too tightly on letting them buy the Nvidia chips, they might make a better Nvidia."
Chamath:
"They're trying now."
Jason:
"What are the chances they succeed in your mind, Gavin?"
Gavin:
" In the next five years, I think zero. I think it's really, really hard."
"But over ten years, who knows?"
tweet
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AkhenOsiris
Silicon valley bros finally changing their tune... before was tariff shmarrif and all about dereg and tax cuts...hear those anymore?
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Silicon valley bros finally changing their tune... before was tariff shmarrif and all about dereg and tax cuts...hear those anymore?
The Trump economic detox correctly reduces gov’t spending & re-balances U.S. trade BUT CEOs are worried about economic shock therapy that causes massive uncertainty & risks recession. $1 T tariffs + $1 T budget cuts in 2025/2026 will send markets / economy lower. 🇺🇸🫡 - Brad Gerstnertweet
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Finding Compounders
RT @gainify_io: In a shaky market, $JNJ is up ~14% YTD — outperforming the S&P by 20pts.
It’s also one of the strongest dividend names out there:
🏆Decades of consistency
🧾48% payout ratio
📈3.1% yield
Is $JNJ the ultimate defensive dividend stock for 2025? https://t.co/zuN9E86MvF
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RT @gainify_io: In a shaky market, $JNJ is up ~14% YTD — outperforming the S&P by 20pts.
It’s also one of the strongest dividend names out there:
🏆Decades of consistency
🧾48% payout ratio
📈3.1% yield
Is $JNJ the ultimate defensive dividend stock for 2025? https://t.co/zuN9E86MvF
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The All-In Podcast
ALL-IN SUMMIT 2025 - APPLY NOW! 🎉
the world's greatest conference returns.
⏲️when: september 7-9
🌅where: los angeles, ca
✅apply: https://t.co/AWcgvLf2yZ
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ALL-IN SUMMIT 2025 - APPLY NOW! 🎉
the world's greatest conference returns.
⏲️when: september 7-9
🌅where: los angeles, ca
✅apply: https://t.co/AWcgvLf2yZ
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The Kobeissi Letter
It's officially "reciprocal tariff" week:
President Trump has called Wednesday "Liberation Day" with 20%+ tariffs coming on up to 25+ countries.
US tariffs will impact $1.5+ TRILLION worth of imports by the end of April.
Here's what you need to know.
(a thread) https://t.co/WnaIVcApl0
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It's officially "reciprocal tariff" week:
President Trump has called Wednesday "Liberation Day" with 20%+ tariffs coming on up to 25+ countries.
US tariffs will impact $1.5+ TRILLION worth of imports by the end of April.
Here's what you need to know.
(a thread) https://t.co/WnaIVcApl0
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Dimitry Nakhla | Babylon Capital®
RT @unusual_whales: Warren Buffett: "There is nothing about the price action of a stock that tells you whether you should keep owning it. What tells you whether you should keep owning it is what you expect the company to do in the future." https://t.co/z4QJTt0EDI
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RT @unusual_whales: Warren Buffett: "There is nothing about the price action of a stock that tells you whether you should keep owning it. What tells you whether you should keep owning it is what you expect the company to do in the future." https://t.co/z4QJTt0EDI
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The Kobeissi Letter
US stocks are falling behind at a historic pace:
The Euro Stoxx 600 index outpaced the S&P 500 by 17 percentage points this quarter, the most on record.
This comes as the Stoxx 600 index rallied +12% in US Dollar terms while the S&P 500 dropped -5%.
Double digit outperformance by European stocks has only happened twice since 2000, in Q4 2022 and Q4 2000.
Furthermore, European stock funds have seen $21 billion of net inflows this year.
At the same time, the US Economic Policy Uncertainty Index is now 70% ABOVE 2008 levels.
More volatility is ahead.
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US stocks are falling behind at a historic pace:
The Euro Stoxx 600 index outpaced the S&P 500 by 17 percentage points this quarter, the most on record.
This comes as the Stoxx 600 index rallied +12% in US Dollar terms while the S&P 500 dropped -5%.
Double digit outperformance by European stocks has only happened twice since 2000, in Q4 2022 and Q4 2000.
Furthermore, European stock funds have seen $21 billion of net inflows this year.
At the same time, the US Economic Policy Uncertainty Index is now 70% ABOVE 2008 levels.
More volatility is ahead.
It's officially "reciprocal tariff" week:
President Trump has called Wednesday "Liberation Day" with 20%+ tariffs coming on up to 25+ countries.
US tariffs will impact $1.5+ TRILLION worth of imports by the end of April.
Here's what you need to know.
(a thread) https://t.co/WnaIVcApl0 tweet