This talk was recorded live at the All-In Summit 2023 at Royce Hall on UCLA's campus in Los Angeles. (0:00) Besties welcome Vinod Khosla to All-In Summit ‘23! (2:28) “Most VCs add negative value” (5:22) AI & OpenAI (10:37) “The need to work will disappear” (14:03) “Capitalism is by permission of democracy” (15:26) Universal basic income (17:04) AI value creation beyond LLMs (21:09) Incumbents don’t innovate (23:52) Fusion (27:07) Autonomous public transit (30:10) Asset bubbles and the state of venture (33:13) Timing the market Follow Vinod: https://twitter.com/vkhosla Follow the besties: https://twitter.com/chamath https://linktr.ee/calacanis https://twitter.com/DavidSacks https://twitter.com/friedberg Follow the pod: https://twitter.com/theallinpod https://linktr.ee/allinpodcast Intro Music Credit: https://rb.gy/tppkzl https://twitter.com/yung_spielburg Intro Video Credit: https://twitter.com/TheZachEffect Relevant links: https://www.khoslaventures.com