(0:00) Friedberg Introduces Ray Dalio

(1:29) 5 Forces That Will Decide America's Future

(7:26) Why Government Reform Is Nearly Impossible

(11:19) Gold vs. Bitcoin

(28:16) What Economists Got Wrong About Tariffs

(41:11) Is America Heading Towards Collapse?

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Ray Dalio joins the All-In Podcast for the third time to break down why America's debt crisis is worse than most people realize, and what comes next.

Dalio covers the five forces reshaping the global order, why DOGE faced structural limits, what's driving gold to all-time highs while Bitcoin stumbles, the real story behind tariffs and trade deficits, and why he believes the US might be approaching a collapse.

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(0:00) David Sacks introduces Saagar Enjeti and Michael Tracey

(1:04) Reacting to the arrest of Prince Andrew in the UK, Epstein's global finance network

(11:24) Who was Jeffrey Epstein, and what is this story really about?

(34:10) Michael Tracey explains "Epstein Mythology"

(1:14:23) Kevin Bass joins to discuss Reid Hoffman's history with Epstein

(1:32:52) Michael Tracey responds to criticism

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Referenced in the show:

https://x.com/kevinnbass/status/2024276079888732649

https://www.nytimes.com/live/2026/02/19/world/uk-prince-andrew-arrest-epstein

https://signalohio.org/les-wexner-deposed-by-house-oversight-committee-over-epstein-ties

https://www.nytimes.com/2025/12/16/magazine/jeffrey-epstein-money-scams-investigation.html

https://www.axios.com/2019/09/12/reid-hoffman-jeffrey-epstein-mit-donations

https://x.com/kevinnbass/status/2023941188588290502

https://x.com/kevinnbass/status/2024276084401828260

https://x.com/kevinnbass/status/2023941213951512966

https://x.com/presentwitness_/status/2024522531542356447

(0:00) From China to Canada

(6:13) CZ's Early Career: Shockingly Normal

(17:39) First Company in Shanghai

(23:08) Discovering Bitcoin

(30:11) Going All-In on Crypto

(41:27) Founding Binance

(1:03:57) The FTX Story: SBF Relationship and Collapse

(1:09:46) Facing Biden's Anti-Crypto DOJ

(1:25:25) Inside Federal Prison

(1:40:10) Life After Binance and New Ventures

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(0:00) Besties intros: Brad Gerstner joins the show

(3:16) Epstein Files

(15:45) SaaS stocks crash out

(35:11) Moltbook panic

(47:37) Trump selects Kevin Warsh as new Fed Chair, replacing Jerome Powell

(1:00:50) SpaceX and xAI merge

(1:10:45) Brad's major win with Trump Accounts

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Referenced in the show:

https://www.nytimes.com/2026/02/05/business/epstein-investments-palantir-coinbase-thiel.html

https://www.miamiherald.com/news/local/article214210674.html

https://nypost.com/2026/01/31/us-news/linkedin-founder-reid-hoffmans-emails-with-jeffrey-epstein-revealed-in-doj-docs

https://freebeacon.com/democrats/skype-sushi-and-a-phone-date-democratic-megadonor-reid-hoffman-maintained-jeffrey-epstein-relationship-years-after-he-said-it-ended

https://nypost.com/2026/02/02/business/jeffrey-epstein-boasted-about-wild-dinner-with-mark-zuckerberg-reid-hoffman-in-unsealed-2015-email

https://x.com/stockpickerspb/status/2009363916573290715

https://www.moltbook.com

https://x.com/galnagli/status/2017573842051334286

https://x.com/balajis/status/1937517664907460980

https://www.reuters.com/world/india/gold-rises-over-1-geopolitical-economic-tensions-lift-precious-metals-2026-02-05

https://x.com/truflation/status/2019409671212396815

https://www.challengergray.com/blog/challenger-report-january-job-cuts-surge-lowest-january-hiring-on-record

https://www.reuters.com/business/world-at-work/ups-amazon-boost-us-planned-layoffs-january-challenger-survey-shows-2026-02-05

https://www.cnbc.com/2026/02/03/musk-xai-spacex-biggest-merger-ever.html

https://polymarket.com/event/spacex-ipo-closing-market-cap-above

(0:00) Bestie intros + quick Davos recap

(9:55) ICE chaos in Minneapolis: aftermath and reactions to the two recent deaths

(45:54) Clawdbot takeover: Jason demos his OpenClawd instances, Kimi K2.5, entering the next phase of AI

(1:09:58) De-dollarization, gold and silver ripping

(1:20:05) California governor race

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Intro Music Credit:

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Referenced in the show:

https://x.com/StephenM/status/2015133481261474030

https://www.axios.com/2026/01/27/trump-stephen-miller-massacre-minnesota-shooting

https://www.youtube.com/watch?v=y2Z3ZUbL2e0

https://www.cbsnews.com/minnesota/news/billions-paid-out-by-medicaid-in-minnesota-may-be-fraudulent-us-attorney

https://www.dhs.gov/wow

https://nypost.com/2026/01/25/us-news/anti-ice-protesters-swarm-st-paul-hotel-they-believe-is-housing-fed-agents/

https://www.youtube.com/watch?v=tke0kY4l4e4

https://www.cbsnews.com/news/murders-plummet-crime-trends-2025/

https://x.com/shellenberger/status/2016671351486967995

https://x.com/BoLoudon/status/1942641987326185693

https://x.com/JamesBlairUSA/status/2016154036550930765

https://www.natesilver.net/p/trump-approval-ratings-nate-silver-bulletin

https://x.com/Geiger_Capital/status/2016564161484873748

https://x.com/RapidResponse47/status/2016537492493676905

https://x.com/chamath/status/2015966444027322763

https://polymarket.com/event/california-governor-election-2026

https://www.reuters.com/world/musks-spacex-merger-talks-with-xai-ahead-planned-ipo-source-says-2026-01-29

(0:00) Intro

(0:50) Circle CEO Jeremy Allaire on stablecoins post-GENIUS Act, interest rate impact, growth in 2026, and the future of money in an AI world

(52:33) CrowdStrike CEO George Kurtz on cybersecurity in the AI era, most capable hacker nations, and more

(1:17:53) Archer CEO Adam Goldstein on the state of eVTOLs in 2026 and when to expect them

(1:42:27) Crusoe CEO Chase Lochmiller on powering the trillion-dollar AI buildout

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