Meta’s scorched earth approach to AI, Tesla’s future, TikTok bill, FTC bans noncompetes, wealth tax

(0:00) Bestie Intros: Reservation Tips!
(5:20) Meta goes scorched earth in AI, why the stock was down despite beating on earnings
(22:20) Tesla’s roadmap, ranking the company’s highest-upside bets outside of cars for the next 10 years
(47:25) FTC bans noncompetes: impact on startups and company formation
(1:00:33) Besties reminisce on their encounters with Steve Jobs
(1:10:25) TikTok “divest-or-ban” bill is signed into law: Will China comply? What’s it worth without the algorithm? Will a deal get done?
(1:27:22) Biden’s proposed capital gains hikes and a 25% wealth tax for those with $100M+ in assets

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Referenced in the show:
https://ai.meta.com/blog/meta-llama-3
https://huggingface.co/meta-llama/Meta-Llama-3-8B
https://about.fb.com/news/2024/04/introducing-our-open-mixed-reality-ecosystem
https://about.fb.com/news/2024/04/meta-ai-assistant-built-with-llama-3
https://www.cnn.com/2024/04/25/investing/meta-stock-plunges-ai-spending/index.html
https://www.youtube.com/watch?v=kiMTRQXBol0
https://twitter.com/AravSrinivas/status/1781099224169320500
https://wow.groq.com/12-hours-later-groq-is-running-llama-3-instruct-8-70b-by-meta-ai-on-its-lpu-inference-enginge
https://twitter.com/lauramaywendel/status/1782040453266710551
https://twitter.com/naveengrao/status/1781491370114633816
https://twitter.com/winglian/status/1783456379199484367
https://www.meta.ai
https://twitter.com/chamath/status/1780302197772952049
https://electrek.co/2024/03/16/tesla-full-self-driving-beta-v12-finally-rolls-out
https://www.reuters.com/business/autos-transportation/tesla-cuts-price-full-self-driving-software-by-third-8000-2024-04-21
https://fortune.com/2024/04/15/elon-musk-tesla-cut-10-percent-global-workforce-14000-employees-slowing-ev-demand
https://www.reuters.com/business/autos-transportation/tesla-take-shareholder-vote-shifting-incorporation-texas-musk-says-2024-02-01
https://www.ft.com/content/46aac746-4a54-437f-a0b7-9b81b154c21d
https://www.google.com/finance/quote/TSLA:NASDAQ
https://www.cnbc.com/2024/04/24/tesla-stock-up-after-elon-musk-says-new-affordable-ev-models-coming.html
https://www.tesla.com/blog/master-plan-part-deux
https://twitter.com/chamath/status/1776663647735218491
https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q1-2024-Update.pdf
https://www.cnbc.com/2024/04/25/gdp-q1-2024-increased-at-a-1point6percent-rate.html
https://palmetto.com
https://www.youtube.com/watch?v=pja_n8ThDsU
https://www.fastcompany.com/90972171/cruise-suspends-driverless-vehicle-operations-in-san-francisco-after-dmv-revokes-permit
https://twitter.com/DavidSacks/status/1777496946263134414
https://www.nytimes.com/2023/11/03/technology/cruise-general-motors-self-driving-cars.html
https://thehill.com/business/4615452-ftc-votes-to-ban-non-compete-agreements
https://www.ftc.gov/news-events/news/press-releases/2024/04/ftc-announces-rule-banning-noncompetes
https://www.techemails.com/p/steve-jobs-emails-adobes-ceo
https://venturebeat.com/business/how-steve-jobs-felt-betrayed-by-eric-schmidt-over-googles-android
https://www.youtube.com/watch?v=CWOt9Cjq2mw
https://www.theverge.com/2024/4/24/24139036/biden-signs-tiktok-ban-bill-divest-foreign-aid-package
https://abcnews.go.com/Politics/senate-returns-95b-foreign-aid-package-ukraine-israel/story?id=109506150
https://www.cnbc.com/2023/12/06/tiktok-parent-bytedance-offers-share-buyback-at-268-billion-valuation.html
https://www.theinformation.com/articles/bytedance-exploring-scenarios-for-selling-tiktok-without-algorithm?rc=pxkrxo
https://www.aclu.org/press-releases/senate-reauthorizes-and-expands-section-702-surveillance
https://twitter.com/DavidSacks/status/1783220583075111401
https://www.wsj.com/tech/tiktok-ban-chinese-owners-bytedance-1a857a06
https://x.com/MsMelChen/status/1783524423963697262
https://x.com/Jason/status/1783556155924705388
https://x.com/Jason/status/1783604248569360516
https://www.atr.org/biden-calls-for-44-6-capital-gains-tax-rate-highest-capital-gains-tax-since-its-creation-in-1922
https://home.treasury.gov/system/files/131/General-Explanations-FY2025.pdf
https://www.bloomberg.com/news/articles/2024-04-24/tax-on-rich-to-save-social-security-popular-with-swing-state-voters-poll
https://balajis.com/p/all-it-takes-is-all-you-got
https://twitter.com/maceskridge/status/1783290784311058788