Chamath Palihapitiya – This is the Most Disruptive Force (BTC, ETH And Defi)
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In this video, David Sacks, Chamath Palihapitiya, Jason Calacanis, and David Friedberg discuss the steps taken by the American government COVID-19. They also shed light on the recent Afghan war and other issues. Here is the summary of the discussion:
The media seems to be on the side of the vaccine mandate. They want the top-down control and the sense of theoretical safety that a vaccine mandate gives them in their little bubble. However, whether we believe in vaccine mandates or not, it’s coming.
Another insane statistic is the ratio of administrators to doctors in the US healthcare system, which is now 900:1, which was 5:1 in 1970. It was 300:1 before Obamacare.
Obamacare was great. But there was one fatal flaw: the minute that people decide to have only 20% gross margin, you’ve got to jack up prices to jack up revenues. Because you can only take 20%, you’ve got to take 20% of a bigger number than a smaller number. So, it completely burned the incentives for any healthcare company in the United States to do anything other than walk prices up.
The US spent $2 trillion on the Afghanistan war, with 2,500 American casualties and 40,000 wounded. The Taliban now has one of the best-equipped armies in the world.
The congressmen are contemplating whether or not they should allow decentralized crypto. They are debating if they should tax crypto holders. Meanwhile, the crypto industry is the future of finance, and its actors want to be ahead of that curve. There are many smart engineers, coders, and entrepreneurs working on it. It would be nice if America can be at the forefront of that technology wave.
In the next 20 years, the DeFi movement will likely catalyze a movement against the open internet. Today, the bet on cryptocurrencies is that fiat currencies are going to collapse and deteriorate due to money printing. The US dollar may also stop being the reserve currency, and that exactly is the bet on crypto today. This will be the best time for cryptos.
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Credit: All-In Podcast (Full unedited video)
E46: False Ivermectin narratives, regulatory grift, wartime mentality in solving issues & more
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