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david sacks

T2 · manager / operator

Co-founder of Craft Ventures and a co-host of the All-In podcast. Part of the PayPal mafia and founder of Yammer; active on AI and tech policy.

40 calls·21 names·57% bull·last heard 3 days ago·All-In Podcast
track record

no scored calls yet — needs a stated position or a categorical verdict, with a matured window vs SPY

top calls

highest conviction · one per company
1sthigh conviction
$SPCXSpaceXposition

Sacks: Elon is not selling SpaceX because it is his life's work

David Sacks argues the IPO did not change Elon's cash position and predicts he will hold far beyond the lockup because SpaceX is his life's work. The thesis is founder alignment and long-duration ownership.

All-In Podcast2026-06→
2ndhigh conviction
$ANTHROPICAnthropic

Sacks declares Anthropic/OpenAI duopoly with premium pricing power

Frontier intelligence market has become a duopoly (Anthropic/OpenAI) that can charge premium like Apple vs Android; commodity models 6-12 months behind cannot charge for weights, only compute/inference. Anthropic ARR run-rate >$100B proves premium demand.

All-In Podcast2026-08→
3rdhigh conviction
$AIRTABLEAirtable

Sacks: Airtable sale exposes VC-PE structural mismatch

Airtable's $1.28B sale (90% off peak) reveals founders/VCs cannot switch from venture growth mode to private equity cost-cutting; Bending Spoons can strip 85-90% of costs, revert to product-led growth, and generate $300-400M EBITDA.

All-In Podcast2026-08→

most discussed · click a bar to filter

recurring themes

40 total
$SPCX
···
SpaceX
HIGHdavid sacks·All-In Podcast·3 days ago
Sacks models Starlink as $1T+ business funding all other ventures
Starlink at 24M subscriber run rate could generate $40B revenue and $30B free cash flow; at 30x multiple, Starlink alone supports $1T valuation, funding Starship, AI compute, and semiconductor fab as 'science projects' with upside.
"Starlink alone could be generating on the order of $40 billion of revenue topline with a huge amount of that flowing to free cash. That could be a $30 billion free cash flow withi…"
26:00
$ANTHROPIC
Anthropic
HIGHdavid sacks·All-In Podcast·3 days ago
Sacks declares Anthropic/OpenAI duopoly with premium pricing power
Frontier intelligence market has become a duopoly (Anthropic/OpenAI) that can charge premium like Apple vs Android; commodity models 6-12 months behind cannot charge for weights, only compute/inference. Anthropic ARR run-rate >$100B proves premium demand.
"when I saw this Google news, my reaction was and then there were two because like Brad was saying, we used to have five major companies in the hunt to be the leading frontier lab,…"
9:56
$AIRTABLE
Airtable
HIGHdavid sacks·All-In Podcast·3 days ago
Sacks: Airtable sale exposes VC-PE structural mismatch
Airtable's $1.28B sale (90% off peak) reveals founders/VCs cannot switch from venture growth mode to private equity cost-cutting; Bending Spoons can strip 85-90% of costs, revert to product-led growth, and generate $300-400M EBITDA.
"I think the question is if Bending Spoons can basically take this business that's not making money and probably generate 400 million a year of EBA and pay for the acquisition in j…"
52:20
$CRM
···
Salesforce
MEDdavid sacks·All-In Podcast·3 days ago
Sacks: Compliance moats protect enterprise SaaS from AI disruption
Government/defense compliance (FedRAMP, IL5) and identity rails (Active Directory) make rip-and-replace irrational; 15/15 cabinet agencies on Salesforce proves entrenched position despite vibe-coding alternatives.
"Nobody buys Microsoft because Microsoft writes the best code. They buy Microsoft because Microsoft is the rail that everything else runs on. Active Directory is where your employe…"
62:00
$NVDA
···
Nvidia
HIGHdavid sacks·All-In Podcast·11 days ago
Sax: AI capex boom is real and will generate ROI; chip selloff is leverage-driven momentum unwind
The massive hyperscaler capex investment in AI infrastructure is fundamental and will deliver returns; the recent 20%+ correction in semiconductor stocks is driven by leveraged momentum traders getting margin called, not a fundamental reassessment of AI demand.
"my view is that it's real that I think there will be a return on all this capex. I don't try to predict stocks or tell people when they should be buyers, but you look at the hyper…"
6:05
$ANTHROPIC
Anthropic
HIGHdavid sacks·All-In Podcast·11 days ago
Sax: Anthropic building 'most powerful monopoly of all time' with 100B+ ARR growing 10x YoY
Anthropic has achieved a commanding duopoly position in frontier AI with OpenAI, generating over $100B ARR growing 10x year-over-year with 80%+ gross margins; self-reinforcing flywheel of revenue enabling compute access enabling better models will make it potentially the most valuable tech company.
"I wouldn't speak so much about Anthropic if I didn't think it was a phenomenal company that was creating potentially the most powerful monopoly or you know leader in the leading c…"
64:40
$OPENAI
OpenAI
HIGHdavid sacks·All-In Podcast·11 days ago
Sax: OpenAI shares commanding AI duopoly with Anthropic; GPT-5 driving revenue re-acceleration
OpenAI and Anthropic form a revenue-dominant duopoly in frontier AI; OpenAI's new model (GPT-5) caused a re-acceleration with more net new ARR in July than all of Q2, confirming willingness to pay and moat.
"Meanwhile you're seeing anthropic break into the 70s 70 plus billion of ARR... OpenAI... they did more net new ARR in July than all of Q2 which I guess would have been April, May…"
42:35
$ASML
···
ASML Holding
MEDdavid sacks·All-In Podcast·11 days ago
Sax: China's lithography machine production threatens ASML's monopoly; ASML down 17% on the news
Chinese company Aishanga is mass-producing lithography machines that compete with ASML, which TSMC uses; this competitive threat caused ASML stock to drop 17% and signals erosion of Western semiconductor equipment dominance.
"There's a report that maybe China played a bit of a role in the chips downdraft. They have uh obviously been onoring. We've talked about that many times here last year. And there'…"
21:49
$ANTHROPIC
Anthropic
HIGHdavid sacks·All-In Podcast·11 days ago
Sax: Anthropic hitting $70B+ ARR with 80% margins, 10x growth cements AI duopoly
Anthropic is achieving 10x year-over-year ARR growth with expanding gross margins above 80%, establishing a dominant duopoly with OpenAI in frontier AI revenue that is self-reinforcing via compute scarcity.
"anthropic break into the 70s 70 plus billion of ARR. Their forecast was to 10x this year from 10 billion of AR to 100 billion. I think most people are saying they will exceed that…"
42:55
$NVDA
···
Nvidia
MEDdavid sacks·All-In Podcast·11 days ago
Sax: AI capex pullback is momentum-driven not fundamental; hyperscaler investment will generate ROI long-term
The recent 20-30% correction in chip stocks is a momentum unwind amplified by leverage, not a fundamental reassessment; hyperscalers are investing all free cash flow into AI infrastructure and will eventually earn a return on that capex.
"my view is that it's real that I think there will be a return on all this capex. I don't try to predict stocks or tell people when they should be buyers, but you look at the hyper…"
6:05