OpenAI's Identity Crisis, Datacenter Wars, Market Up on Iran News, Mamdani's First Tax, Swalwell Out

Key Takeaways

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  NYC pied-à-terre tax will crash housing demand

  “I just think that it's gonna kill the demand for second homes. If you were a person who is thinking about buying a Piazza in New York, there's no way you would do it now. Because you don't know what the tax rate's gonna be, and it's gonna keep going up, and that has to be a bad thing for the city.”

• •

  Supply-side construction lowered rental prices in Austin

  “Austin has, like, roughly doubled as a city over the past decade, and yet the rent for, you know, whatever, a one or two bedroom apartment's gone down. In other words, if you let people build to satisfy the demand, you won't have this problem.”

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  London's tax changes caused massive capital flight

  “They essentially crippled what's called non dom status, which is the big tax arb if you moving or parking assets in London. And what did all the rich people do? They just redirected themselves to Zurich, to Lugano, to Milan, and they took advantage of more hospitable tax policy in other places.”

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  Pied-à-terre owners are highly profitable for cities

  “The thing is they're already paying taxes on the property, and because they're not there very often, they're not using city services. So they're paying taxes on the property, they're not using city services, and they are essentially profitable to the city. The second place thing goes away and that money goes elsewhere.”

• •

  Targeting billionaire residences creates dangerous security threats

  “It's a dog whistle to say that's the next UnitedHealthcare CEO. And in the week that a fire a a Molotov cocktail and a bullet gets shot into Sam Altman's house, it's deadly serious. Just before you point at people's homes and say this is the villain, be careful because nobody deserves to have their house fire bombed or shot at, period.”

Episode Description

(0:00) Bestie intros: Travis Kalanick joins the show! (0:42) Mamdani taxes the rich: new pied-à-terre tax coming to NYC (11:23) OpenAI's identity crisis: Leaked memo, enterprise pivot, Anhropic valuation flip (27:28) Big Tech's compute dominance: How will this impact frontier labs? (33:53) Allbirds stock up over 400% on AI pivot, and what's behind the datacenter disaster? (54:37) The Price is Wrong: Name That Overvalued Startup ROUND 1 (59:23) Eric Swalwell drops out of CA governor race and resigns from Congress: Who knew what and when? Impact of the Democratic Machine (1:10:31) State of the market: Confusing indicators, pricing in Iran peace, AI's mixed results, inflated valuations (1:26:31) The Price is Wrong: Name That Overvalued Startup ROUND 2 Apply for Summit 2026: https://allin.com/events Follow Travis: https://x.com/travisk Follow the besties: https://x.com/chamath https://x.com/Jason https://x.com/DavidSacks https://x.com/friedberg Follow on X: https://x.com/theallinpod Follow on Instagram: https://www.instagram.com/theallinpod Follow on TikTok: https://www.tiktok.com/@theallinpod Follow on LinkedIn: https://www.linkedin.com/company/allinpod Intro Music Credit: https://rb.gy/tppkzl https://x.com/yung_spielburg Intro Video Credit: https://x.com/TheZachEffect Referenced in the show: https://www.texastribune.org/2025/01/22/austin-texas-rents-falling https://www.cnbc.com/2026/04/13/openai-touts-amazon-alliance-in-memo-microsoft-limited-our-ability.html https://polymarket.com/event/gpt-5pt5-released-on https://www.ft.com/content/04ac7917-940b-4606-be5f-9eb895a7d982 https://x.com/RihardJarc/status/2044725910566220095 https://x.com/RoundtableSpace/status/2041897604708233650 https://x.com/chamath/status/2043811625967530056 https://x.com/pmarca/status/2042742413098450998 https://www.reuters.com/business/allbirds-shares-jump-over-400-plans-pivot-ai-sneakers-2026-04-15 https://www.wsj.com/business/data-centers-are-a-gold-rush-for-construction-workers-6e3c5ce0 https://x.com/zerohedge/status/2043520934930239860 https://x.com/APompliano/status/2041946174677217733 https://x.com/IAPolls2022/status/2041589297489305717 https://www.tmz.com/2026/04/13/tmzdc-staff-starts-today https://www.nbcnews.com/politics/elections/eric-swalwell-drops-bid-california-governor-sexual-misconduct-allegati-rcna277009 https://x.com/great_martis/status/2044454944808571015 https://x.com/GlobalMktObserv/status/2044059352466690501 https://x.com/mattcerminaro/status/2044546097230626819 https://www.politico.com/news/2026/04/13/influencers-allegations-eric-swalwell-00869517 https://x.com/JoeBiden/status/1815080881981190320 https://x.com/TimRunsHisMouth/status/1815088017847333273 https://www.npr.org/2024/07/08/nx-s1-5032737/biden-tells-democrats-stop-speculation