E146: Did the Fed break the VC model? Plus IPOs, M&A, revaluing unicorns & more

(0:00) Bestie intros! (3:05) GOP Primary update: polling, acceptable candidates, tentpole issues (11:56) All-In Summit 2023 recap (24:12) IPOs and M&A heat up: Arm, Instacart, and Klaviyo go public, Cisco acquires Splunk for $28B, but did the "great reopening" fall short? (42:34) Did the Fed break the VC model? How LPs will evaluate fund managers going forward (50:45) Breaking down Instacart and Klaviyo's businesses (1:01:12) Revaluing Airtable and the path forward for ZIRP-era unicorns (1:13:14) Fed pauses rate hikes, but says rates will stay higher for longer, plus: what breaks next in the economy? (1:32:51) Science Corner: new "inverse-vaccine" treatment is a potential game changer for autoimmune diseases Follow the besties: }https://twitter.com/chamath }https://linktr.ee/calacanis }https://twitter.com/DavidSacks }https://twitter.com/friedberg Follow the pod: }https://twitter.com/theallinpod }https://linktr.ee/allinpodcast Intro Music Credit: }https://rb.gy/tppkzl }https://twitter.com/yung_spielburg Intro Video Credit: }https://twitter.com/TheZachEffect Referenced in the show: }https://projects.fivethirtyeight.com/polls/president-primary-r/2024/new-hampshire }https://youtu.be/yjj1QjZlQMM }https://www.bloomberg.com/news/articles/2023-09-21/cisco-to-buy-splunk-for-157-a-share-in-28billion-deal }https://twitter.com/pitdesi/status/1704874017357025499 }https://www.google.com/finance/quote/ARM:NASDAQ?comparison=NASDAQ%3ACART%2CNYSE%3AKVYO&window=5D }https://twitter.com/aswathdamodaran/status/1704246090198036914 }https://cloudedjudgement.substack.com/p/clouded-judgement-81823-q2-earnings }https://www.lendingtree.com/content/uploads/2023/08/ccs-chart-3-3.jpg }https://fred.stlouisfed.org/series/MORTGAGE30US }https://www.ey.com/en_gl/ipo/trends }https://stockanalysis.com/ipos/statistics }https://www.google.com/finance/quote/COIN:NASDAQ }https://www.google.com/finance/quote/EXPE:NASDAQ }https://www.axios.com/2023/09/19/instacarts-ipo-venture-capital }https://www.sec.gov/Archives/edgar/data/1579091/000119312523221345/d55348ds1.htm }https://influencermarketinghub.com/amazon-ad-revenue }https://twitter.com/jasonlk/status/1704212644402540573 }https://www.saastr.com/5-interesting-learnings-from-klaviyo-at-650000000-in-arr }https://twitter.com/DavidSacks/status/1078755080478715904 }https://i.insider.com/4dd4d1cf4bd7c8c90f000000 }https://twitter.com/asanwal/status/1703492397739516068 }https://www.cnbc.com/2023/09/20/fed-rate-decision-september-2023-.html }https://tradingeconomics.com/commodity/crude-oil }https://kalshi.com/markets/fed/fed-interest-rates#fed-23nov }https://www.popularmechanics.com/cars/hybrid-electric/a42558850/tesla-price-cuts-worth-buying }https://hellometer.io }https://www.nature.com/articles/s41551-023-01086-2