All-In with Chamath, Jason, Sacks & Friedberg
Sep 15, 2026 · 28 min · 11 segments
(0:00) VP JD Vance joins The Besties! (1:40) Assessing the Trump Admin so far: Border control, re-industrialization, inflation, Iran, government debt, anti-fraud (9:28) AI approach: Dealing with…
JD VanceGuestThere's one, one of the ways that we can get out of this is through growth and productivity growth, but there is this crazy dynamic where it just seems like there are forces, many inside the United States, um, that try to slow us down, whether it's data centers, and you may have heard yesterday, but the president called in and tried to help debunk it with Jensen.
But it just seems like a whack-a-mole problem of trying to actually get the truth out.
Just talk to us about how we've ended up in this situation where there are these forces that are trying to effectively lie or fearmonger to try to take power.

But, but fundamentally, when I see the backlash to data centers, what I see is the, the, the, the necessary, the inevitable consequence of the United States not building enough power for a generation.

But there's also, you know, you talk to a guy who, a year ago, his power bill was $290 a month, and now it's $580 a month.

And the reality is that in blue states, where we've made it impossible to build additional el- electricity generation, you're seeing a backlash when people start paying additional power costs.

If you look at the amount of power generated by the PRC, the People's Republic of China, and compare it to the amount of power generated by the United States of America, in 2005 they crossed the line, meaning they started to generate just a little bit more power than we did in 2005, and since then, we have affec- effectively flat-lined, and the PRC now generates three times as much electricity as the United States of America does.

I think that a lot of our problems, um, are downstream of that fundamental problem, and we just have to build more.

I mean, you know, I, I think that we have to have this vision in the United States of electricity that is too cheap to meter, and that's, I think, the way that you push back against some of this ridiculous, um, you know, sort of anti-building power [clapping] comes from the failure to generate the electricity that we need.

I think the environmental movement obviously has a lot to do with it, but we've just got to build more power, and that's how we solve this problem fundamentally.
There's one, one of the ways that we can get out of this is through growth and productivity growth, but there is this crazy dynamic where it just seems like there are forces, many inside the United States, um, that try to slow us down, whether it's data centers, and you may have heard yesterday, but the president called in and tried to help debunk it with Jensen.
But it just seems like a whack-a-mole problem of trying to actually get the truth out.
Just talk to us about how we've ended up in this situation where there are these forces that are trying to effectively lie or fearmonger to try to take power.

But, but fundamentally, when I see the backlash to data centers, what I see is the, the, the, the necessary, the inevitable consequence of the United States not building enough power for a generation.

But there's also, you know, you talk to a guy who, a year ago, his power bill was $290 a month, and now it's $580 a month.

And the reality is that in blue states, where we've made it impossible to build additional el- electricity generation, you're seeing a backlash when people start paying additional power costs.

If you look at the amount of power generated by the PRC, the People's Republic of China, and compare it to the amount of power generated by the United States of America, in 2005 they crossed the line, meaning they started to generate just a little bit more power than we did in 2005, and since then, we have affec- effectively flat-lined, and the PRC now generates three times as much electricity as the United States of America does.

I think that a lot of our problems, um, are downstream of that fundamental problem, and we just have to build more.

I mean, you know, I, I think that we have to have this vision in the United States of electricity that is too cheap to meter, and that's, I think, the way that you push back against some of this ridiculous, um, you know, sort of anti-building power [clapping] comes from the failure to generate the electricity that we need.

I think the environmental movement obviously has a lot to do with it, but we've just got to build more power, and that's how we solve this problem fundamentally.
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