Biden chaos, Soft landing secured? AI sentiment turns bearish, French elections

(0:00) Bestie intros! (4:29) Macro picture: Soft landing secured? Rate cut on the horizon? Plus: partisan economic perception (20:48) AI sentiment turns bearish due to massive spend with little revenue (40:51) A16Z's 20K GPU cluster (46:41) Broad implications of France elections (1:06:10) Hot swap update: President Biden holds firm as backers flee, press corps chaos, speed-run primary chances Apply for All-In Summit: https://summit.allinpodcast.co Follow the besties: https://twitter.com/chamath https://twitter.com/Jason https://twitter.com/DavidSacks https://twitter.com/friedberg Follow on X: https://twitter.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@all_in_tok Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://twitter.com/yung_spielburg Intro Video Credit: https://twitter.com/TheZachEffect Referenced in the show: https://x.com/teddyschleifer/status/1811423421861113915 https://www.cnbc.com/2024/07/11/cpi-inflation-report-june-2024.html https://www.barrons.com/livecoverage/stock-market-today-071124/card/odds-of-a-september-rate-cut-jump-as-inflation-cools-Du34tNx5OPXwQpXrKTT2 https://fred.stlouisfed.org/series/UNRATE https://www.google.com/finance/quote/SPY:NYSEARCA https://ycharts.com/indicators/sp_500_pe_ratio https://www.cbsnews.com/news/cbs-news-poll-analysis-americans-rate-economy-partisan-lens https://www.morningstar.com/news/marketwatch/20240709188/heres-how-far-the-dow-has-fallen-behind-the-sp-500-so-far-in-2024 https://youtu.be/R6hJh-OwoZw https://www.sequoiacap.com/article/ais-600b-question https://www.goldmansachs.com/intelligence/pages/gs-research/gen-ai-too-much-spend-too-little-benefit/report.pdf https://www.theinformation.com/articles/andreessen-horowitz-is-building-a-stash-of-more-than-20-000-gpus-to-win-ai-deals https://x.com/natfriedman/status/1668650915505803266 https://www.dailymail.co.uk/news/article-1359430