Software Stocks Implode, Claude's Hit List, State of the Union Reactions, Trump's Tariff Pivot

All-In hosts Jason Calacanis, Chamath, David Sacks and David Friedberg—tech investors/operators—debate how AI, infrastructure and Trump-era policy are reshaping markets and society. The fake “Alex Jones” guest intro gives way to AI, data centers, politics, longevity and tariffs.

AI has shifted markets from asking when incumbents weaken to whether their cash flows survive at all. After Anthropic said Claude could modernize COBOL, IBM fell 13% in its worst day since 2000, losing about $31 billion.

The extreme AI-collapse case is possible, but not proven. A viral 2028 scenario predicting 10% unemployment and a 38% S&P decline drew 28 million X views, yet a cited prediction market put its likelihood near 12%.

Current evidence presented cuts against imminent mass extinction of software jobs. Software-engineer postings were reported up roughly 10% year over year even as Anthropic advertised a $570,000 engineering role, suggesting cheaper coding could expand demand rather than simply destroy employment.

AI is already removing tasks and future headcount needs even when existing workers remain employed. Calacanis’s 20-person firm trained 15 staff on agents, automated work, redeployed people, stopped planned hiring, and claimed 10–20% weekly efficiency gains.

The near-term AI constraint may be electricity, land and permitting rather than intelligence itself. About 100 U.S. data-center projects reportedly face local opposition; the proposed solution makes hyperscalers fund their own power so households avoid higher rates.

Cellular rejuvenation has reached a meaningful human test, but “fountain of youth” claims remain unproven. Life Biosciences reportedly reached FDA agreement for a first human Yamanaka-factor eye trial intended to restore vision after promising animal results.

Trump-era politics remain deeply polarized, but institutional checks are functioning and the tariff fight is not over. Sacks blamed Democrats while Calacanis blamed both parties; the Supreme Court struck emergency tariffs 6–3 and Trump immediately invoked a temporary 15% alternative.