00:13:55 · Molly O'Shea, Brian Singerman
[00:13:55] S1: One of the things that Trey said when I interviewed him back at Androle, did this anvil tour. Was so much fun. Was amazing. We did this interview and I asked him, what is one thing about Peter Thiel that your biggest lesson, like, what did you learn? And he was like, that he's always right. He's always right. [00:14:17] S0: Peter's usually pretty right on the macro things at the end of the day. Timing does come into this stuff, and he's not always exactly right on timing, but at the end of the day, he's pretty good at being correct on, especially on macro global macro things. He is the best I've ever met at that. He is yeah, he is the best at that. [00:14:41] S1: Given that, he did just move down to Argentina. So, what does he know that we don't know? [00:14:47] S0: I don't think Peter likes socialism. I either. He's probably correct that politics in America is getting even more and more extreme. Like, Oh, then Trump, so then AOC, so then more extreme. And so, that's probably pretty scary. If you're talking to people like me and Max and Trey, you're going to get a lot of the same thing on that, like we're not into socialism. Max escaped communism as a kid. He's not interested in going back to this. [00:15:22] S1: Do you think that's a real threat for Absolutely. It'll swing like a pendulum? [00:15:26] S0: Think it's pretty clearly, like, starting, you know, has started to. Right? [00:15:31] S1: Yeah. How do we avoid that? We'd move to Argentina?
00:15:31 · Molly O'Shea, Brian Singerman
[00:15:31] S1: Yeah. How do we avoid that? We'd move to Argentina? [00:15:34] S0: I mean, my that's strategy. I mean, you kind of fight as much as you can, but Peter is not wrong that that is a threat. Now, how you deal with that or what you do from there, I think is an individual question, right? Like, what's right for your family? What's right for you? But I don't think he's wrong that there's a chance that America is going in a pretty bad direction. [00:15:58] S1: Yeah, especially with the wealth tax just seeping in. [00:16:01] S0: The asset seizure? [00:16:02] S1: Potentially going national. That's definitely going national. People think [00:16:05] S0: that it's so funny. People look at this thing and think, Oh, it's a billionaire tax. It doesn't matter to me. Uh-uh. First of all, even in the California one, there's provisions for it to like, once all the billionaires leave, Oh, well, we need to get the money somehow. Okay, let's take the next lower down, the next lower down. This is going to impact the middle class way more than it's going to affect mobile billionaires. [00:16:25] S1: Yeah, we just had the CIO of A16z Perennial on, Mark and Ben's family office. [00:16:31] S0: He [00:16:34] S1: was talking about how trillions potentially, allegedly, have left California Literally. Trillions. And then now we have the SpaceX IPO coming up. Anthropic just filed their S-one today. So many people [00:16:48] S0: are leaving before these things happen. [00:16:49] S1: Do you think they're going to leave the country?
00:16:49 · Molly O'Shea, Brian Singerman
[00:16:49] S1: Do you think they're going to leave the country? [00:16:52] S0: No. I do think it's harder to leave the country than I think it is to leave the state. It is. It's harder to leave the country than it is to leave the state. [00:17:03] S1: What's the preferred state? [00:17:04] S0: Oh, I don't know. For me, it's Hawaii. I'm not trying to avoid all, much to Peter's chagrin, and he makes fun of me for this all the time, I'm not trying to avoid high income tax rates. I am trying to avoid asset seizure though. [00:17:15] S1: That's funny. Trey did want me to ask you, why are you so obsessed with Hawaii? [00:17:19] S0: I love it there. Why? I can sit on lanai, laptop doing stuff overlooking the ocean for infinity. It's my peaceful, happy it's just so peaceful there to me. [00:17:34] S1: Do you get claustrophobic knowing that you're on an island? [00:17:37] S0: I don't. [00:17:38] S1: It's really far away. [00:17:39] S0: It's fine. It's closer than from here to New York. [00:17:47] S1: Is it? [00:17:48] S0: Absolutely. Really? Absolutely. It takes four hours and twenty minutes one way and five hours the other way [00:17:55] S1: LA, from here it's much further. [00:17:59] S0: It's a little further than San Francisco is the closest city in the world to Honolulu. [00:18:02] S1: I understand that now. I'm always like, why are people going to Hawaii? I don't understand it. Grew up on the East Coast the and it's like a two hour flight. Why do people go to Hawaii? Now we know. [00:18:15] S0: It's not far.
00:18:15 · Brian Singerman, Molly O'Shea
[00:18:15] S0: It's not far. [00:18:16] S1: It's not far. So, what about Hawaii? It's the seclusion. No, I don't [00:18:23] S0: think it's seclusion. It is the beach. It's the weather and the beach. I don't like wearing pants. I like wearing shorts. This is a common thing with Max too, next time you talk to Max Levchin about this. But I like being warm. I love the climate there. I love like yeah, I'm able to relax. [00:18:45] S1: Max did have a question for that, on that topic. Why do you wear shorts almost to the exclusion of all lower body garments, verbatim? [00:18:59] S0: Don't know, genes are pretty constrictive? What's the word? [00:19:03] S1: Restricting? Yeah. You don't feel free. Can't express express yourself. You [00:19:08] S0: yourself. Yeah, there you go. Bummer. Whatever the kids are saying these days, Wally. I don't know. But yeah, no, I do like being in warm places. Hawaii is, you know, kids like never having to wear shoes. The kids don't like wearing shoes for some reason. So they love Hawaii.
00:19:29 · Molly O'Shea, Brian Singerman
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00:21:02 · Brian Singerman, Molly O'Shea
[00:21:02] S0: Okay. [00:21:02] S1: Right? You've been exposed to all of them. You're friends with them. They're characters for maybe the outside world, and they're probably just your friends, so this is also kind of a weird question. We talked about Peter Thiel a bit. I want to know more, so his investing strategy, and the strategy that you formed at Founders Fund is heavy conviction, concentrated bets. I've listened to many of your interviews for preparation of this, and you're like, Reserves? We don't care about reserves. We're just going to raise another fund. How did you think about that, and what were the biggest allocations?