"the following is a conversation with jason calacanis who's an entrepreneur investor author of angel how to invest in technology startups and as many people may know he's a fun brilliant long time podc..."

"conversation with jason kilikanis i have a million things to talk to you about but we do happen to be living through what i would think of as a historic event in in terms of its impact in terms of lik..."

"go to antonio's nut house and um we'll meet elon for a drink uh and so elon met us for a drink there and it's it's the divest of dive bars like you'll take a beer love the image of all of this you han..."

"he said well we're going to get these millennials to trade i said the same ones who live in their mom's basements and take uber and lyft and are on their parents have no money got screwed and you know..."

"financially sophisticated that they know how to do puts and calls and shorts and research at a level that dominated the hedge fund industry so let's pause for a second these traders sitting there on a..."

"markets and it turns out there were more people shorting the stock than stocks where the shares were available i don't know how that's possible and then i'm trying to uncover where can i see a list of..."

"and robin hood in that same way probably enabled or was one of the major enablers of wall street best of giving power uh like empowering young kids to learn about how this whole messy financial system..."

"to do this options trading and puts and calls and all this sophistication stuff unless you actually do it it's just too hard to learn except in practice just like poker if you want to learn how to pla..."

"for who yeah who's crying is everybody crying who's crying when so i think there were some of the hedge funds that were crying initially that maybe some of the wall street bets people who bought last ..."

"most about we're at society is the sort of socialism communism you know entrepreneurship is bad technology is bad and polarization of wealth and you know people getting rich is a bad thing when i grew..."

"less competition for accreditation degrees like things tend to get a little weird don't they yeah and people tend to be protected and that's not good you need you need competition um does it mean that..."

"existential threat for humanity yeah the chinese are no joke i mean they are seriously focused and they are picking the winners it's a very weird system because it is in fact i don't know what you cal..."

"i do get bothered by people you know treating the word billionaires if it's a bad word yeah but in general like all the hard things all the difficult things we're going through in this country it seem..."

"group of people that i think are highly vocal but a small group of people which are generally people of incredible privilege rich parents white city dwellers liberals they kind of look and say poor pe..."

"have internet and i'm like really find me any downtrodden person without a smartphone with a high-speed connection that capitalism provided for 12 a month or 15 a month like it's very hard to find tha..."

"yourself can build the thing and every no matter what your circumstances are and you could talk about like structural racism and all those kinds of things that very fast but from the individual perspe..."

"was a basketball court and uh i said let's go let's go shoot some hoops i never shoot shot before and i was like okay come on i'll teach you and tim is fabulously uncoordinated people don't know this ..."

"a ux person a developer whatever it is and learn how to add skills that's what i did my whole life i was a kid from brooklyn went to school at night but i was very quick to get to maybe 50 of the know..."

"10 years electric cars ha ha that company will go out of business and now every single company is like we're going fully electric by 2035 and he kicked their asses so brutally that they had no choice ..."

"we could have said these thousand people young people who we know are in all likelihood not going to have a bad outcome but there's a possibility this is a possibility but it's very low and it's certa..."

"people are going to lose their lives right so you know that's an example of capitalism and competition working really well there there's one of the to me sad thing to see about coronavirus is that for..."

"we were all i give them that until june i wonder how history will remember this whole period i'd love to ask you because you were an early investor in robin hood and you're sort of you're in a very ni..."

"on the nature of communication uh vlad the ceo yeah the guy you met at the bar yeah i think at the center of the communication right yep so elon is an example of a guy who also is at the center of the..."

"operating it yeah and if you are going to operate uh we basically vilify and demonize i think that that is part of it like when the person at i remember airbnb we always thought what if somebody trash..."

"speaking of clubhouse i mean yeah i just wanna we're saying so many interesting things but there there was a magical moment with vlad and elon on clubhouse yes is there do you have thoughts about that..."

"that little maybe i'm being overdramatic but no you're not i think you're paranoid for a reason you're paranoid for a very good reason which is as big as these companies can become they are beholden t..."

"and that could be tweets it could be videos and so this idea that you know youtube will be able to tell people to kick people off because they're skeptics of i don't know the pandemic or the vaccine o..."

"now it'd be worth 500 million do you think 500 billion yeah do you think uh facebook might buy clubhouse has been uh oh they'll probably copy it i mean zuckerberg has no moral compass or ethics or any..."

"processes is the playbook of silicon valley for the last decade or two so whatever the friction poetry what you're saying right outside you're speaking so fast that i almost forget that you're you're ..."

"and there was this famous case when they first came out with it um somebody created a nambla fake group national man love boy association or whatever like pedophilia association and they added zuckerb..."

"blackhawk like this is serious shit like don't do it if you're not serious yeah and if you're not serious about changing the world why would you go work for bezos why would you go work for elon musk d..."

"do not go to a startup or any kind of ambitious company there is a series of places you can work in the world yes where you do not need to do anything more than what's put in front of you and you just..."

"so we're soft as americans we're soft and then you look at people in china and we're like oh my god these poor chinese people are living in these tiny cramped apartments like they were living in like ..."

"i'm the richest guy on the planet uh depending on the week and uh i would like to do some other challenges but i don't want to grind it out at amazon for another 25 years i want to do other things and..."

"that's the battlefield china wins authoritarians win and at any time xi jinping can pull jack ma into a room and say it's time for you to be re-educated or they can put three or four million people uy..."

"through science and technology i mean as you're describing you've hosted uh this week in startups for uh how many episodes 11 years almost 1200 now 1200. yeah so you've talked to some of the great lea..."

"that journey yeah and that's why people really start to think about what is the purpose of what i'm doing and it sounds corny and i when i first heard that i was like it's kind of corny but then i rea..."

"having been a witness to it um you know just as friends for for that long i have never seen an entrepreneur suffer more than him and uh you know he's been public about that like you do not want to be ..."

"i mean and that's another thing like that i think the great entrepreneurs can look at a problem with very fresh eyes like almost consistently and bezos described that as day one thinking right like ju..."

"get from everybody like how do we solve this problem what people do sometimes they get in a rut they just come to work and they just go through their email they do whatever they did the day before the..."

"and you're like wow and it's like yeah you're paying 13 a month for the privilege of shopping at amazon yeah but you wouldn't you say it's the greatest thing in the world because anything i need you k..."

"members of that it's the largest syndicate in the world in fact the first deal we ever did was com.com the meditation app we put 378 thousand dollars into it when it was a 5 million dollar product a 5..."

"after uber and it will in all likelihood become the biggest i mean it's between uber robin hood and calm and long story short when i'm teaching people to angel invest there's really two things that yo..."

"most people say the team is the most important but there's a lot of smart people out there and let's assume that you can have you can raise money for your idea or you have money or you can just convin..."

"there's an intimacy to voice oh for sure you have people's yeah tent well but like the video gets in the way actually in a weird way there's a privacy when you just use voice people are not taking sho..."

"been frustrated for so long that you checked out i almost checked out because it uh psychologically allows me to carry on because i thought for many months now that testing needs to be done at scale a..."

"have had enough of this they're just going to go yolo i but see the the crucial piece for me that i've been focusing on is the the social media aspect of how the it's not just about the reality of dea..."

"with the facebook groups example where you know you take out all that friction what happened was we used to have something called arcron reverse chronological order that's how you consumed a feed so a..."

"and then of course with trump he realized it he's like okay yeah i'm just gonna make fun of a celebrity and i get more retweets okay i'm gonna make fun of rosie o'donnell for being overweight or somet..."

"think we haven't we got the first generation of social networks i think a new generation needs to absolutely is that your plan for a business to do so well i have a longer-term plan in terms of ambiti..."

"commenting on things that i don't already know about because i want to open my world view that could be a beautiful thing for society and actually jack was talking about potentially on twitter letting..."

"that is about relationships and or you know some fashion or hip-hop or whatever it is that i'm not part of i just sit there and i listen and you learn it's like such a delightful thing i always think ..."

"which will just shoot the shit and it'll act as like a fabric uh and a little filler between the tent pole podcasts right like you and eric you've done three i think with eric yeah was your four yeah ..."

"oh you both know sam harris or you had elon on the podcast on this date or you and i were both at burning man in 2006 the most meaningful element of our connection network yeah and then because we wou..."

"well you make uh just like you were saying you make it frictionless a very low friction to make a deep human connection because you you have all the basic elements there already now think about the un..."

"have to ask you you're just like you were saying you're one of the world experts in investing in in uh instruments in startups uh yeah uh the vc and so on from the perspective of the startup i was alw..."

"go to zero now if you were to start the business and only build it off customer revenue and use your own money and go nice and slow and grow ten percent a year the chances of you blowing up the rocket..."

"annualized returns in order to triple the money and maybe i have an outlying chance of four or five times the money which does happen sometimes when you have an outlier in your portfolio like uber or ..."

"back and they don't have product market fit and they're out of money yeah and they say can we have more money you say no we have to go get it from somebody else because you have to prove that there's ..."

"he dies i don't know if you know what david goggins is by any chance i do i mean i don't know him personally but oh my lord so i'm i'm running 48 miles together with him in person in a month you're do..."

"but and speaking of uh beautiful push and pull uh how about that transition yeah here we go uh you're in chemat uh on uh he's a friend of yours bessie besties yeah yeah good friend i mean he's there's..."

"turned off trading because the hedge funds told them to and that they were bowing down to the pressure of the hedge funds that's not true but in a vacuum of information you know what happens to people..."

"conspiracy here what it was was robin hood needed to raise billions of dollars to say solvent in all likelihood uh and they weren't allowed to talk about it so they were forced into not talking about ..."

"i always ask the founder do you want me to is it okay if i go out and defend you publicly if they say yes i do it and then beautiful by the way because what else do we have in this world if not friend..."

"everybody else who's on the pod the two davids who you know both on the spectrum a bit like a little aspergers or whatever no effects left none taken i'm not saying you know yeah there is a yeah if yo..."

"yeah he was exhausting i mean the amount of cycles he took on our processors and now this is a little bit more of a distributed like this yeah everybody gets a chance to be the number one news story e..."

"right like just getting through the days hard yeah and and that little bit of empathy uh thinking about the intent of the person allows you to then sort of de-escalate this kind of conversation that s..."

"there's music to my ears your whole rant on the the olympic nature of a startup is there a role like what role does love family friendship play in that brutal pursuit of excellence that is building a ..."

"rocks at there's somebody who's making the jewel vaporizer throw rocks at that scumbag no offense but like whoever's making the jewel things and you know selling pina colada flavor to 12 year olds lik..."

"and i was like wow sam that was like of my entire friendship with sam harris that was like the one moment where i was just like oh my god all my life i've wondered about all these thoughts in my head ..."

"and also either be with me into the rough times be with them with that first i mean the first early successes i mean that's a beautiful so great when they when when when a founder and that team get pr..."

"i think there's no better way to end it there it is the talk of the cruelty of life that's suffering that is life and the love amidst the suffering jason absolutely i've been a fan of yours for a long..."

"so just then you can look it up gratitude gratitude is like one of these incredible forces amen i'm grateful for being on the pod i'm grateful you've wasted all this time with me i love it thanks for ..."