All-In with Chamath, Jason, Sacks & Friedberg
Fixing the American Dream with Andrew Schulz
Sat, 15 Mar 2025
(0:00) The Besties intro Andrew Schulz! (3:29) Friedberg hits a quick Science Corner on the future of fertility (9:35) Reacting to Gavin Newsom's new podcast: genius or pandering? (19:36) Tariff experiment so far: risks, communication issues, and more (30:44) Why the American Dream is broken and how to fix it: cracking the housing market, social security reform (55:45) Aligning upside via increased stock market participation (1:11:23) How Andrew blew up in comedy, going direct via YouTube, building a cancel-proof following (1:22:25) State of America, conspiracy obsession, thoughts on Trump and DOGE GET TICKETS for All-In Live: Miami https://allin.com/events Follow Andrew: https://x.com/andrewschulz Check out Andrew's new special LIFE: https://www.netflix.com/title/81741999 Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://x.com/chamath/status/1895948351516131515 https://x.com/ChineseEmbinUS/status/1897132043362034153 https://electrek.co/2025/02/07/renewables-90-percent-new-us-capacity-2024-ferc https://www.wsj.com/opinion/bidens-mortgage-relief-fuels-higher-housing-prices-policy-loans-risk-cb0a1974
Chapter 1: Who is Andrew Schulz and why is he on the podcast?
All right, everybody, welcome back to the number one podcast in the world, the all in podcast. And you can subscribe to us on YouTube, Apple Podcasts, yada, yada, you know the drill, we're going to go to Miami for an epic F1 weekend. All in podcast live on stage Saturday, May 3, a couple special guests, go to all in.com slash events.
to buy a ticket and we're really excited today because for the first time in all in history we have a comedian we have somebody talented on the program ain't that the truth you know ain't that the truth real comedian someone that knows how to make good jokes all right it's true andrew i think i feel like that was a dick to me but okay andrew schultz is here how we doing boys thank you for having me schultz
Pleasure. You're on a heater right now. You took time to come on the All In pod. Thank you for doing that. Of course. Your Netflix special is crushing it. Top 10 around the world. It's called Life.
Yeah, yeah. L-I-F-E. Pretty cool.
It's about your low sperm count. Tell us that.
Yeah, I am the face of shitty sperm.
Which, that's kind of like crazy because you've got a mustache of a 70s porn star.
I think I'm overcompensating, you know? Is that what it is? I think I've got to trick people with the stache. What a reality. Yeah, yeah, the balls. You're firing blanks. Dude, it's just. Pure old man. It's bad.
This special is so good.
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Chapter 2: What are Yamanaka factors and their impact on fertility?
I think you have a different energy towards America and its success. And then you have a lot less of these kids who are just like, America's this horrible place and capitalism is bad. Yeah, capitalism is bad when you're left behind. When you're invested in capitalism, it's the shit, baby.
Absolutely. We're on the express train.
Let me give you guys, I did an analysis. I wasn't sure if I should put it out, but I'll tell you guys the numbers. The U.S. Social Security program is meant to be kind of the retirement program for folks that don't have access to private retirement accounts. Okay. And this program was set up in the 1930s after the Great Depression.
And there's a trust fund, the OASDI, which is the fund that they invest the capital. So every year we all put money in with our Social Security taxes out of our paychecks, goes in there, and it gets invested. You know what it gets invested in?
Hmm.
It gets invested in one thing, U.S. Treasuries, which have averaged about 4.8% return since the beginning of the program per year.
Meanwhile- What if you put it into the market?
Meanwhile, the S&P has been averaging 11%. So here's the math. If in 1971, which was the year that we went off the gold standard in the United States, If we invested the Social Security Trust Fund in the S&P, the balance of the Social Security Trust Fund today would be $15 trillion.
That would be roughly one-third of the value of the total S&P 500, which would be jointly owned by all Americans who took their capital. Now, here's what's f***ed up. What's fucked up is that the middle-class people who had access to private retirement accounts benefited by buying the S&P 500, and the wealthy were able to access it.
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