Bernie Sanders: Stop All AI, China's EUV Breakthrough, Inflation Down, Golden Age in 2026?
Timestamps are as accurate as they can be but may be slightly off. We encourage you to listen to the full context.
Podcast Summary
In this high-energy episode of the All-In Podcast, the hosts dive into Bernie Sanders' call for an AI data center moratorium, examining the growing perception problem facing the AI industry. (00:30) The conversation spans economic indicators showing mixed results for the Trump administration's first year, with unemployment rising to 4.6% while inflation beats expectations at 2.7%. (33:53) The episode also covers China's alleged breakthrough in EUV lithography technology, potentially reshaping the global AI race. (59:56)
- Core themes include AI industry perception challenges, economic performance analysis, and international competition in semiconductor technology
Speakers
David Sacks
Former PayPal COO and Craft Ventures founder, currently serving as Special Government Employee (SGE) in the Trump administration. Sacks is a prominent venture capitalist and tech entrepreneur who has been vocal about AI development and national competitiveness.
Jason Calacanis
Serial entrepreneur, angel investor, and podcast host based in Austin, Texas. Calacanis is the founder of Launch and has invested in companies like Uber and Robinhood, bringing a practical perspective to tech industry discussions.
Chamath Palihapitiya
CEO of Social Capital and former Facebook executive. Palihapitiya is known for his contrarian investment strategies and outspoken views on technology's role in society and economic development.
David Friedberg
CEO of The Production Board and former Google executive. Friedberg has deep expertise in technology, climate science, and agricultural innovation, often providing technical analysis on emerging technologies.
Key Takeaways
AI Industry Must Address Perception Crisis Through Tangible Benefits
The tech industry faces a massive perception problem where AI development appears to benefit only a small elite while threatening jobs for average Americans. (10:09) Chamath argues that the solution requires taking inspiration from the Gilded Age industrialists like Andrew Carnegie, who built 2,500 libraries, and John D. Rockefeller, who invested in universities. (11:26) The industry needs to use cash on balance sheets to create tangible benefits that millions of Americans can directly experience, rather than just focusing on stock price appreciation that doesn't reach the bottom half of society.
Economic Data Shows Strong Performance Despite Public Perception Disconnect
Despite mixed public approval, economic indicators show significant progress with inflation dropping to 2.7% (beating 3.1% expectations) and core inflation at its lowest since March 2021. (34:00) Private employment increased by 121,000 jobs while government employment declined by 162,000, largely due to voluntary buyouts from DOGE initiatives. (35:39) However, there's a critical disconnect between improving economic data and public perception, highlighting the need for better communication of policy benefits.
China's Lithography Breakthrough Accelerates AI Competition Timeline
China has potentially reverse-engineered ASML's EUV lithography technology using former ASML engineers and AI-driven approaches, with working chips targeted for 2028. (1:00:17) This development, supported by a $48 billion investment fund focused on semiconductor bottlenecks, could significantly accelerate China's ability to produce advanced chips independently. (1:03:23) The breakthrough threatens the West's primary technological advantage in the AI race and underscores the urgency of maintaining American leadership in semiconductor manufacturing.
Anti-AI Sentiment May Be Manufactured by Well-Funded Opposition
A Semafor investigation revealed that major journalism fellowships at NBC, Bloomberg, Time, and The Verge covering AI were funded by the Future of Life Institute, a doomer organization with a $600 million war chest from cryptocurrency donations. (17:23) This funding has created hundreds of front organizations promoting negative AI narratives, contributing to the stark difference in AI optimism between China (83%) and the US (39%). (21:58) Understanding this coordinated effort is crucial for addressing the manufactured nature of some AI criticism.
Job Market Data Contradicts AI Displacement Fears
New Vanguard research shows that occupations highly exposed to AI automation actually have higher job growth (1.7% vs 0.8%) and wage growth (3.8% vs 0.7%) compared to other occupations. (15:35) This follows a Yale Budget Lab study showing no discernible job market disruption in the 33 months after ChatGPT's launch. (16:25) The data suggests that AI productivity improvements increase worker value and demand rather than replacing workers, though the industry must communicate this reality more effectively to combat displacement fears.
Statistics & Facts
- AI optimism differs dramatically by country: 83% of Chinese people believe AI benefits will outweigh harms, compared to only 39% of Americans. (21:58) This stark difference highlights how public perception of AI has been shaped differently across cultures and political systems.
- The federal workforce decreased by 10.7% in 2025, dropping from 2.4 million to 2.15 million employees, representing the first significant reduction in federal workers in decades. (36:15) This reduction came primarily through voluntary buyouts offered through DOGE initiatives.
- China's National Integrated Circuit Industry Investment Fund Phase 3 has $48 billion in funding specifically targeted at overcoming semiconductor manufacturing bottlenecks like lithography technology. (1:02:23) This represents a massive state-directed effort to achieve semiconductor independence.
