Five Themes From The All-In Summit
Earlier this week, I walked into the “Miami Vice party,” the last event for The All-In Summit, dressed in costume jewelry and a retro-tee. My friends, over WhatsApp, begged me to seek out JCal (Jason Calacanis) and talk about skiing so that I could score an invite to Vail next season and we could become pals. I never thought that I'd be a podcast groupie, but here we are.
The All-In Podcast started at the beginning of the pandemic and quickly became a must-listen. Each with their own business and investing background, the four hosts have a nuanced, insider’s view into the venture industry, entrepreneurial ecosystems, and broader economy. There was a new episode each week. You didn't have to like the guys or agree with them to see that the discussions were precious. As a venture investor and entrepreneur in a rapidly changing landscape, their conversations provided a framework for me to analyze an uncertain world. Quickly, I formed a WhatsApp group of friends and soon-to-be friends devoted to exploring the topics addressed on the pod every week. This group was able to take the framework and debate and discuss what was relevant to each of our various ventures.
So, how was the event? It exceeded all my expectations.
The All-In Summit was a three-day conference featuring the hosts of the All-In Podcast, Jason Calacanis, David Sacks, David Friedberg, Chamath Palihapitiya, and their guests.
Julia LaRoche dubbed the All-In Summit the next generation Berkshire Hathaway. Others said it felt highly GenX. Maybe a bit like TED.
As a previous attendee of the Berkshire AGM, I see the cultural parallel between Berkshire and the All-In Summit as attracting people with genuine curiosity and openness. That weekend feels like a good-natured gathering of friendly people with chance meetings in lines, during talks, while milling around. People ask the same basic questions: Who are you? How can I help you? What can I learn from your experience? Why might I be wrong?
It felt like bringing together a curious, open-minded, diverse group for debate, reflection, and good times.
What makes the podcast and the All-In community special?
The 'Besties' label might make some cringe, but the fact that the hosts are genuine friends allows for vehement disagreements while maintaining a commitment to seeing the humanity in the person. The dialogue and variety of opinions on the show only work because they are honest and assume good faith. The tone of each episode is set by the self-deprecating humor that opens the show with descriptions of each host that are simultaneously flattering and a dig.
What made the All-In Summit special?
The remarkable moments were the unscripted and unplanned serendipity. I expected run-of-the-mill rehearsed speakers; that's normally what happens at conferences. I should have known better - what All-In was always all about was being honest, raw, and off the cuff. So, although a lot was unexpected, there were consistent themes.
What were the five enduring themes of the conference?
1.) Addressing and moving beyond personal attacks to curiosity
The most meta and dramatic part of the summit was the presentation and confrontation by Palmer Luckey.
Palmer gave an excellent 20-minute presentation on Anduril Industries, a defense technology company focused on autonomous drones. He made the moral defense for building weapons for the military. He's a good speaker and made a compelling case. He then stunned the room with a tirade about Jason and had a list of verbatim lines of personal attacks that Jason had said about him over the years. Palmer finished by speaking what felt like deeply-held truths to him, "Jason and the people like him are the reason why I was fired from Oculus. I was filled with rage about this. I always will be. Jason tried to poison me and my career." Palmer finished by pointing to his very presence on stage at Jason's summit, "The only reason I'm here is I clawed my way back. If I hadn't, you wouldn't want me here."
The four Besties came back on stage for a Q&A and – now – to diffuse the obvious tension. The three other hosts engaged Palmer intellectually; an attentive crowd felt like they were on the edge of their seats, enjoying the ride, participating with frequent clapping and support.
Remarkably, in the end, Jason offered an apology, and Palmer reciprocated with a side-hug. Everyone left friends or, at the very least, more friendly. The entire room was buzzing with electricity as Palmer, and the Besties, walked off the stage.
2.) Promoting a more pragmatic centrist view, rejecting the incentive-fueled narratives of the mainstream media
There was a common narrative throughout the summit that the distortionary media environment has created a 'mind virus', generating negativity. I can see patterns resembling this in my own prior thoughts and actions.
Matt Taibbi talked about how the media and political outlets have started surfacing stories and narratives consistent with their subscribers' existing political beliefs. These outlets, like the New York Times (a high-profile example, but one of many), are re-affirming what their audience already believes. Mar Henderson shared the apt phrase "clicks for chicks" to explain why negative stories about female founders receive 10x more engagement in the media than those about male founders misbehaving.
3.) Thoughtfully debating sensitive political issues with 'controversial' figures
Another highlight was a debate on Ukraine with Glenn Greenwald and Antonio García Martínez, moderated by David Sacks, who admits that he is not exactly a neutral third party. All came prepared with either facts and figures or front-line testimony. Sometimes it was tense. People didn't necessarily agree. But there was a lot to be gleaned about how complicated the conflict is even though the prevailing narrative in the media – Ukraine is the victim, Russia is the aggressor, and the world is on the side of the US as it rushes to support Ukraine – seems straightforward. I certainly bought into it and still might, but it's worth considering perspectives to the contrary.
After the event, people were curious about my experience there and asked me, 'what do you think of that guy,' or made a comment like 'I can't stand him.' 'He seems like such an asshole' about one speaker or another. I get the sentiment. As the Jason/Palmer conflict illustrated, some of the people invited have been mired in various media controversies, but since it was a friendly atmosphere of curiosity, attendees assumed well-intent that pushed beyond the previous perception.
To enjoy and appreciate a proper debate, you have to cast aside your preconceived notions of someone's character from what you've seen in the media and evaluate the person in front of your eyes. Primary source material is always the best to evaluate after all.
4.) Focusing on the three most important parts of a gathering: people, people, people.
Among the people I met included a couple who were celebrating their 10th wedding anniversary, several entrepreneurs who had sold their companies within the last year, dentists on the verge of building their next medical empire, those establishing new family offices and looking for ideas, engineers seeking their next job, and more.
One former entrepreneur gave me a VIP discount code for his Sonoma wines. Another attendee placed a tiny silver acorn in my palm and told me that the seeds I plant today would grow into giant oaks. I pranced out of the “Havana White party,” downing ice cones with a new Oil & Gas investment banking friend.
The crowd was thoughtfully diverse, with a ratio that felt much closer to 50% gender parity than a typical conference. Many women flew in looking to expand their horizons and find a supportive community for their ambition. Jason Calacanis had joined them for a Ladies of All-In breakfast before the summit. Given their sometimes anti-equity stance, the All-In Podcast wouldn't be the group you typically expect to be focused on diversity; once again, there’s value to meeting people ‘beyond the podcast,’ and what they do in this forum is worth celebrating.
Every person I met was warm and welcoming. People also looked to help others make the most of the event. Simple example? Someone I had met early on found a few connections that matched my interests and made introductions that yielded productive conversations.
5.) Learning about the future directly from the people building it
On-stage and off was filled with expertise-rich discussions on the businesses and issues of our time. From trends in the supply chain from Ryan Petersen at Flexport to the mortgage market and housing analysis from Adena Hefets at Divvy Homes to economic analysis and investing advice from Bill Gurley of Benchmark and Brad Gerstner at Altimeter. Those were just a few examples. Elon spent over 90 minutes in an interview with the Besties in a candid conversation on a wide range of topics. This portion has now been made public.
Similarly, attendees, perhaps with less name recognition, were just as insightful on various industries where they were building businesses.
Parting words: I have your back
My summit experience ended with a discussion with a fellow entrepreneur and investor hailing from Minnesota originally. Most people probably assume that anyone able to attend the All-In Summit and pay for a conference ticket is well within the definition of an elite. Yet places of privilege are not where most attendees started. The Besties themselves discuss how three of the four come from immigrant backgrounds.
We discussed how most people here had chips on their shoulders. They had started from zero. Had to fight their own way out for success. Similar to Palmer, we might have felt wronged while finding our place in the world. That people who didn't know us attack us when we are down.
Our job as investors, fellow entrepreneurs, and community members is to have each other's back. People often say to me, 'let me know how I can help you.' But the act of 'having your back’ is a distinct and different offer. If no one stands up for you during the inevitable downs, you may feel like you have to fight aimlessly in all directions for survival. Instead, when you know a community has your back, you can focus on building a productive future. You can only go all-in on solving the world's biggest challenges if you can concentrate your energy on the task at hand.
And despite being already considered successful by many, there is always more to do. Finding a connection around shared humanity when you're older is more beautiful and powerful because you know who you are.
As I boarded my flight back to New York, I received the following text from my new friend: "I've got your back from here on - send me a text or give me a call any time."
After all, what are friends for?
