E15: “The Besties” All-In’s inaugural award show covering the best, worst & most memorable of 2020

TL;DR

All-In Episode 15’s inaugural “Besties” awards name 2020’s biggest winners, losers, and most memorable moves across politics, business, and culture. The discussion covers Airbnb and Wish going public for more than $100 billion combined, Brian Chesky’s handling of Airbnb’s COVID-19 crisis, breakthroughs such as Alpha Fold and mRNA vaccines, and growing concern about censorship. Read on for the hosts’ specific choices and reasoning.

Transcript

hey everybody welcome back besties  are back for the all-in podcast   the queen of quinoa freeburg is here the dictator  chamoth and of course rain man david sachs   and it's been a big week here in silicon valley  with airbnb and wish both going public for over   a hundred billion dollars combined anybody  get their beak wet on that one oh hey guy... Read More

Key Insights

• 🍭 Airbnb's IPO and Wish's IPO for over a hundred billion dollars were monumental events.
• 🆘 Brian Chesky's leadership and innovation helped Airbnb navigate the challenges of the COVID-19 crisis.
• 🥺 The Chinese Communist Party, led by Xi Jinping, emerged as a winner despite the negative publicity from the pandemic.
• 💁 Podcasting and long-form discussions gained popularity as an antidote to social media.
• 🧑‍💻 Censorship, particularly in the media and tech platforms, became a significant issue in 2020.
• 🙏 Smart moves in business included alpha fold, mRNA vaccines, and strategic investments in companies like Tesla and Twilio.
• 🍵 The COVID-19 pandemic exposed flaws in political leadership, particularly in handling crises and promoting science-based decision making.
• 🤩 Timing the market proved to be a foolish strategy, and holding shares in great businesses was the key to success.

Questions & Answers

Q: What are the All-In “Besties” awards in Episode 15?

The inaugural “Besties” awards review the biggest winners and losers of 2020 across politics, business, and culture. The All-In hosts also discuss flashes in the pan and the year’s smartest and dumbest business and political moves.

Q: Why did the hosts praise Airbnb and Brian Chesky?

The hosts said Airbnb navigated the COVID-19 crisis masterfully after being described as potential “COVID roadkill” in April. Airbnb cut headcount and became more profitable while spending about $250 million to refund users with canceled reservations and support hosts.

Q: How significant were the Airbnb and Wish public offerings?

Airbnb and Wish went public at a combined value of more than $100 billion. One host described an early Airbnb investment as returning roughly 40 times the original investment.

Q: Who were named the biggest political winners of 2020?

Joe Biden and Xi Jinping were identified as major political winners. Biden’s campaign and centrism helped him win the presidency, while Xi was credited with turning negative pandemic publicity into an opportunity to build client states.

Q: Who were the biggest business losers of 2020?

Small-business owners in restaurant, retail, and hospitality were among the biggest losers because lockdowns hit them particularly hard. Facebook and Google were also cited after facing multiple antitrust lawsuits that damaged their reputations.

Q: What were considered the smartest business moves of 2020?

Alpha Fold and mRNA vaccines were highlighted as major breakthroughs with important implications for medicine and health. Strategic investments in companies such as Tesla and Twilio were also identified as smart moves.

Q: What were considered the dumbest business moves of 2020?

Nikola’s overvaluation and subsequent decline were described as a major business failure. Slack’s decision to sell instead of capitalizing on its network effect was also viewed as a missed opportunity.

Q: What broader lessons did the hosts draw from 2020?

The hosts argued that trying to time the market was foolish and that holding shares in great businesses was the better approach. They also saw podcasting and long-form discussion as an antidote to social media while identifying censorship by media and technology platforms as a major cultural problem.

Summary & Key Takeaways

• Airbnb and Wish going public for over a hundred billion dollars combined.

• Chamath investing in Airbnb's early round, leading to high returns.

• Brian Chesky's leadership and navigating Airbnb through the COVID-19 crisis.

• Sarah Cooper gaining popularity for her mocking of Trump during the pandemic.

• Biggest loser in culture: Censorship in the media and tech platforms.