All-In with Chamath, Jason, Sacks & Friedberg Software Stocks Implode, Claude's Hit List, State of the Union Reactions, Trump's Tariff Pivot
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Feb 28, 2026 They dig into a sudden selloff in software stocks after a major AI product reveal and a viral report rattled financial names. The conversation explores how AI shifts investor framing, alters SaaS predictability, and creates new jobs for agent management. They debate local resistance to data centers and the politics around power pledges. A science segment covers Yamanaka factor trials for restoring vision.
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AI Empowers Companies To Replace SaaS Upsells
- Internal tooling and cheap models let firms say 'we can build this ourselves' during vendor negotiations.
- Jason notes agents and open source options (e.g., Mattermost) reduce reliance on SaaS upsells.
Value Capture Unclear Between Models Apps And Chips
- Which layer captures value (models, apps, or chips) remains unclear and will vary by vertical.
- David Sacks warns startups must defend why their app adds lasting value as foundation models improve.
Hire Agent Maestros To Run Business Processes
- Hire or train 'agent maestros' who translate business processes into agent skills and manage them daily.
- Jason and David Sacks highlight that operators who architect and tune agents will be high‑value non‑developer roles.
