All-In with Chamath, Jason, Sacks & Friedberg Iran War, Oil Shock, Off Ramps, AI's Revenue Explosion and PR Nightmare
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Mar 13, 2026 
Brad Gerstner, Altimeter Capital founder and tech investor, joins for a fast-moving talk on the Iran war’s oil shock, escalation risks, Gulf off-ramps, and China’s role. Then it shifts to AI’s record revenue surge, why spending is exploding, the fight over open source, and how terrible messaging turned AI into a PR mess. It closes on millionaire taxes and wealth flight.
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The Real Pressure Point In Iran Is China
- Chamath Palihapitiya said Iran and Venezuela are really leverage plays against China because China's economy depends heavily on their oil.
- He argued Xi needs the summit even more now since strategic reserves cannot absorb five or six months of disruption.
AI Revenue Exploded Once It Started Competing With Labor
- Brad Gerstner said AI crossed from IT spending into labor augmentation, driving unprecedented revenue at Anthropic and OpenAI.
- He claimed Anthropic hit a $6 billion month, too large to come from software budgets alone, and said both firms should go public.
Enterprise AI Revenue Is Growing Faster Than Proven ROI
- Chamath Palihapitiya argued most enterprise AI revenue still looks experimental because companies must show boards an AI plan before proving durable ROI.
- He pointed to AWS requiring human review after AI-generated code triggered several SEV1 outages, showing regulated production use remains limited.