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Jason Calacanis: latest market views
LAUNCH
Summary
Jason Calacanis is a serial entrepreneur and angel investor best known as co-host of the All-In Podcast and founder of the LAUNCH accelerator and syndicate.
Chorus has 10 views from Jason Calacanis across 5 episodes on All-In Podcast since October 2, 2026.
What they talk about most
The latest views
Newest first. Every quote is checked against the episode's transcript.
Secondary brokers pitching shares in private companies are mostly fishing, since they rarely follow through.
Calacanis, who says he sits on the board of a company worth a couple of billion dollars, describes brokers who approach him claiming to have shares. When he asks who is selling so he can coordinate with the CFO, they go quiet. He concludes that these approaches are fishing expeditions. He adds that this kind of secondary trading barely existed 10 to 15 years ago. His evidence is his own repeated experience rather than market data.
“I'm on the board of a company that's worth a couple billion dollars, and they come to me and I say, okay. Great. Who who is it with? ... And then crickets. And I'm like, they're fishing. It's always a fishing expedition.”at 54:07
All-In Podcast: WHOOP CEO, Will Ahmed: 50B Hours of Health Data, a 4 Million Member Data Moat, & the FDA Fight ·
Enterprise AI adoption & AI software
Startups rushing into a technology signals it is the right direction; big enterprises are slowest to adopt.
Calacanis argues that when startups flood into a technology and spend their VC money on it, it signals the technology is working. Startups look for the cheapest, best, fastest edge, as they did with cloud computing, WeWork and Facebook ads. A flood of two-to-200-person companies that are the most nimble suggests they have concluded the technology is the best solution. He says big, slow enterprises lag on new technology, which is why they buy startups. He takes this as a tell that AI is heading in the right direction.
“When startups flood to a technology, that is a strong signal.”at 7:17
All-In Podcast: AI Cyber Panic, Ken Griffin's Bubble Warning, The Fall of France? ·
France's flat GDP and heavy immigration signal it must change gears on austerity.
Calacanis says France's GDP is not growing while it imports about 1.5% of its population a year, and that these immigrants are often low-value and a drain on public services. He argues this is a signal that France has to change course, pointing to Europe's long history of austerity. He wants more selective immigration and selective austerity rather than unrestricted intake.
“if you have an immigration rate where you're importing 1.5% of your population a year and your GDP is not growing, that might be a signal to you that maybe you have to change gears.”at 1:17:21
All-In Podcast: AI Cyber Panic, Ken Griffin's Bubble Warning, The Fall of France? ·
Raising the federal minimum wage $1 a year to $15 would boost spending and help companies.
Calacanis proposes raising the federal minimum by $1 a year for seven years to reach $15 by about 2032, which he says is far milder than California's $20 mandate. He argues the wage money gets recirculated and spent at the same companies, raising velocity and helping businesses. He cites Australia, New Zealand and the Nordics, where companies did better after raises, and says the 25-cent-per-meal cost in fast food has not raised unemployment.
“What happens is all that money gets recirculated, and it just creates more monetary velocity in the country. It all gets spent at the company.”at 1:37:04
All-In Podcast: AI Cyber Panic, Ken Griffin's Bubble Warning, The Fall of France? ·
Startup revenue ramps today are unlike any SaaS era; AI startups are growing far faster.
Calacanis, who spends most of his time on early-stage startups, says they are crushing it on fundraising and customer acquisition. He says he has never seen revenue ramps like the ones in startups today. The SaaS-era benchmark of triple, triple, triple, double, double, double growth has given way to a question of whether a company is doubling every quarter. He treats this as a sign of the AI-driven shift in startup growth.
“The revenue ramp of startups today is distinctly different than the SaaS, you know, triple triple triple double double double.”at 25:53
All-In Podcast: CoreWeave Crash, AI Trade Cracks, Anthropic IPO Red Flags, Bill Gates Doomer ·
AI's deflationary force could strip most of the value from software, pressuring software margins.
Calacanis cites examples of AI commoditizing software. A platform-level game can be built for $5, an Eleven Labs competitor is very cheap, open-source models are being hosted, and Elon Musk's orchestration layer can route to the best model. He says people are able to ship code so fast that up to 90% of a product's value could be removed. He asks what software margins will look like, and treats the deflation as unique compared with past cycles. Sacks pushed back, which tempers the view.
“It feels to me like the deflationary nature of this software AI superintelligence is unique and different than anything we've ever seen.”at 32:07
All-In Podcast: CoreWeave Crash, AI Trade Cracks, Anthropic IPO Red Flags, Bill Gates Doomer ·
Gulf war has cost Saudi, UAE and Qatar their data center opportunity; one drone can fry a site.
Calacanis argues the Gulf states, once large oil producers able to plan top-down, have lost a big opportunity to build data centers. Bombs are blowing up airports there, and data centers need drone defense that he says is not yet effective. One drone getting through would fry a data center, so the region is not a safe place to build AI infrastructure.
“what an incredible opportunity that's now been lost in The Middle East where Saudi, UAE, Qatar, they were all massive producers of oil... Without drone defense, you can't go there... One drone gets through, your data center's fried.”at 39:54
All-In Podcast: CoreWeave Crash, AI Trade Cracks, Anthropic IPO Red Flags, Bill Gates Doomer ·
Enterprise AI adoption & AI software
AI agents are deflationary: they save hours of work and compress commerce costs, offsetting inflation.
Calacanis says agents solve people's problems and are truly deflationary, saving hours a week regardless of job. He points to agents compressing the commerce layer: Shopify and Uber and DoorDash letting agents order, while Amazon blocks them. If people save 5-10% a year on spending, that counters inflation. He cites his own team saving thousands per hotel booking through AI-driven price searches.
“Agents are actually the manifestation of this technology that solves people's problems in the world, and that is truly deflationary, saving people hours and hours a week in terms of productivity.”at 1:21:53
All-In Podcast: Is Claude Conscious? Pope Rejects, Model Welfare Movement, OpenAI's Math Backlash, France Riots ·
Ordinary Americans remain fearful of AI and job losses; industry must show concrete benefits in education, housing and healthcare.
Calacanis says average Americans, including a flight attendant he spoke with, are still petrified of AI and fear job losses. He argues industry must show concrete benefits in education, housing and healthcare and include everyday Americans, not just talk about data centers, to pull the public back from the ledge.
“Americans are still petrified of this technology. They still think they're losing their jobs. They still think it's dangerous. So I thought this was, like, a great first step, but there's more work to do to pull Americans back off that ledge.”at 38:12
All-In Podcast: Trump's Super Intelligence Summit, AI Safety Accord, GDP Beats, Midterm Predictions ·
Democrats will sweep the midterms because Trump's approval is net negative, inflation is stuck, and the war hurt his base.
Calacanis argues Trump's approval on immigration, trade, the economy and inflation has turned net negative, with inflation stuck in the high 3s and unemployment unchanged. He says the war has hurt the base, and citing Polymarket odds of about 93% Democratic House and 63% Senate, he predicts Democrats sweep.
“Trump promised not to start a war. He did. He promised to solve inflation. He didn't. The end, and I think the democrats sweep.”at 1:06:27
All-In Podcast: Trump's Super Intelligence Summit, AI Safety Accord, GDP Beats, Midterm Predictions ·
Shows
- All-In Podcast · 5 episodes
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