This Week in Startups
01:20:09 · Jason Calacanis, D.A. Wallach
[01:20:09] S0: These are getting very popular in Korea, I understand. People love to bet with this massive leverage and they have stocks. So you can buy an actual stock that's trading at 10 times. So here, if you bought... This, I guess, is The US tech 100. If you buy this at 11.8 times leverage, a 1% move feels like 11.8%. So you're just getting much more action. This is like caffeine to meth. Like, no stopping at cocaine. You're just going straight to breaking bad blue meth. Don't recommend, folks. I don't. I mean, I guess if you just want the stock to move in the next two days, I guess you could. I mean, it's interesting. I'm very good at calling bottoms. [01:20:56] S1: Well, we've got all kinds of levered ETFs right now, by the way. I mean, look, this is all sort of a symptom of wealth inequality in a way. I mean, people are just... As Charlie Munger used to say, the world's not run by greed, it's run by envy. And the numbers that people are seeing in terms of how rich these Anthropic founders are getting and even the employees who were hired last year, this kind of thing drives a mindset of rabid risk taking. And if that Postmates driver who's trying to figure out how to escape from that life and you like a stock, it's really tempting to go buy the 3x levered ETF in Hynix or whatever. In your mind, you go, look, I I mean, if if Yeah. If I lose 2,000 [01:21:45] S0: who cares? If I hit, I do care. So it's like putting on a parlay. It's like, I need to have, like
01:21:45 · Jason Calacanis, D.A. Wallach, Thomas Tunguz
[01:21:45] S0: who cares? If I hit, I do care. So it's like putting on a parlay. It's like, I need to have, like [01:21:52] S1: And we're... And we... And we've told people, you know, I mean, this is, again, going back to the beginning of the politics, the tech guys have told people that they've got three years to make all the money they're ever going to make. [01:22:03] S0: And after that, [01:22:04] S1: the world ends or you're forever frozen in your place in the economic hierarchy. And so people are just throwing caution to the wind. They're doing crazy stuff, and that's not gonna be a good formula when their retirement rolls around. [01:22:16] S0: All right. Another amazing episode this week in Venture Capital Roundtable. Can people find you, Tomas? Where can people find you online if they wanna to follow you and your missives? [01:22:27] S3: Oh, tomtunguz.com or theoryvc.com. [01:22:30] S0: There you go. Elana, where can people find you? Maybe even if they were interested, participate in your syndicate, join your syndicate and see what you're investing in.
01:22:30 · Jason Calacanis, Elana Gold, D.A. Wallach
[01:22:30] S0: There you go. Elana, where can people find you? Maybe even if they were interested, participate in your syndicate, join your syndicate and see what you're investing in. [01:22:39] S2: Yeah, I'm under it's Elana Gold on Twitter and LinkedIn, and then my website that Jason has up right now, Two Roads. BC, just actually updated it. And then if you press apply at the syndicate, you could directly go and join the syndicate. And mean as Jason knows this basically you could think of it like an email subscription if you're a credited investor there's no money that's necessary you go and you get an email for the different deals that we're doing and you decide on a deal by deal basis if you want to invest so yeah, let me know. [01:23:08] S0: Deal by deal. Critical. You get to make the decision how much you invest and which deals you're in. D. A, your thoughts. Or where can people find you? [01:23:17] S1: X.com/dawallach. And this is my firm's website, timebioventures.com.
01:23:17 · D.A. Wallach, Jason Calacanis
[01:23:17] S1: X.com/dawallach. And this is my firm's website, timebioventures.com. [01:23:23] S0: I'm an LP. There it is. For me, go to thisweekinvc.substack.com. We're working hard. That's why I'm hiring six... I was trying to hire six journalists. Nobody wants to be a journalist. I'm hiring six analysts for our associate training program. I'm looking for people who would be willing to write either about AI, defense tech, energy, robotics, venture capital, or startups. So I need analysts who are willing to write coverage of these companies and deals. If that's something that sounds interesting to you, if you're out of school, we can teach you how to be a great writer. Go to careers.launch.co. Careers.launch.co. As you were saying, I'm hiring a lot of people. You know why? We built so much software. The system's working. We have a flywheel. So now I'm like, well, maybe we should start a newsletter around defense tech and energy and robotics, but I don't have somebody who's a human who can look at the research being done by AI, call people on the phone, check the facts, and actually write an interesting narrative worth reading. That's what I believe the future is. I think, D. A, people are going to want to find acoustic humans and listen to them. [01:24:39] S1: Meat. [01:24:39] S0: Yeah, it's pretty crazy. [01:24:40] S1: The future is meat. [01:24:42] S0: Yeah, the future is meat. We'll see you next time. Bye bye.