All-In Podcast: "The Future of Everything: What CEOs of Circle, CrowdStrike & More See Coming in 2026"

Date: January 25, 2026

Overview

At the 2026 World Economic Forum in Davos, Chamath Palihapitiya hosts a packed episode of All-In, featuring candid, in-depth interviews with four CEOs at the forefront of economic, technology, and social change. The show explores the clarifying trends, competitive environments, and disruptive opportunities in fintech (Jeremy Allaire, Circle), cybersecurity (George Kurtz, CrowdStrike), transportation (Adam Goldstein, Archer Aviation), and cloud/AI infrastructure (Chase Lockmiller, Crusoe Cloud). The conversations blend industry strategy with global politics, regulatory change, and the wild pace of technological transformation, capturing what’s coming by 2026 and beyond.

Key Interview Segments

1. Jeremy Allaire (CEO, Circle): The Rise of Regulated Stablecoins and the Future of Digital Money

(Main discussion: [00:00]–[52:33])

Main Points & Insights

• Stablecoins as the “HTTP for Dollars” ([03:19])

  • Early vision: The Internet needed a native, secure, programmable digital money layer—stablecoins fill that gap.
  • “It was very clear at the time that was going to happen... We needed a bridge... an HTTP for dollars on the internet.” – Jeremy Allaire [03:19]
  • Emphasis on stable value, full reserve backing, and regulatory oversight as differentiators from offshore competitors.

• Regulation vs. Crypto Anarchism ([06:29], [07:42])

  • Circle chose a “harder, slower but proper” regulated US path, rather than going offshore to places like Zug or Dubai.
  • Allaire testifies to staying within legal frameworks even when crypto was less welcome:
    • “If you want it to work that way... you have to integrate with the existing system and work with policymakers...” [06:40]
    • Early hearings drew both skepticism and hostility from regulators.
  • Highlights importance of “trust” in making stablecoins mainstream—trust not just in code, but in legal, financial, and audit systems.

• Competitive Dynamics & Banks

  • Major banks see stablecoins as both threat and opportunity ([13:00]); increased interest in integration.
  • Real-world use cases: Cross-border payments, collateral posting, wealth management, and remittances.

• Market Structure & Defensibility ([28:33])

  • Genius Act (US stablecoin law) creates a level playing field, emphasizing transparency and regulatory rigor.
  • Strong network effects (“marginal value of a net new dollar stablecoin is essentially zero”), likened to the rise of a few Internet-scale platforms.

• Cross-Currency and Global Expansion ([35:13])

  • Circle’s focus is on dollars & euros, now partnering with private sector issuers globally as regulation matures.

• Real-World Use Cases Drive Adoption

  • Programmers, freelancers, and markets (inc. poker/gambling) opt for stablecoins due to speed and cost ([38:39]).
  • “The biggest electronic markets firms in the world are some of the top users of USDC. They need every edge in terms of milliseconds, cost, and capital efficiency.” – Jeremy Allaire [38:33]

• Credit Markets and AI Synergy ([41:32])

  • Allaire envisions “self-driving banks”—credit markets built entirely in software and smart contracts.
  • “Imagine a credit market that worked like AdWords... Settle credit decisions at the speed of which an auction happens.” [42:32]

• Societal Shifts and Labor in an AI World ([46:23])

  • Predicts GDP acceleration outpacing the internet/PC revolutions—massive gains, but wealth accruing heavily to capital owners.
  • Urges broader equity/ownership for social stability:
    • “Being stakeholders in the success of this technological transformation is critical.” – Jeremy Allaire [52:14]

Memorable Quotes

• “Chaos is a ladder.” – Chamath/Allaire on repeated cycles of disruption [01:46]
• “Trust remains a key thing...” – Jeremy Allaire [09:43]
• “We are right at the front edge of, I think, a renaissance in how money is used in the world.” – Jeremy Allaire [04:54]

2. George Kurtz (CEO, CrowdStrike): AI, Cybersecurity & the New Cloud Wars

(Segment: [52:33]–[77:52])

Main Points & Insights

• AI Supercharges Offense and Defense ([53:27])

  • Adversaries now “minting new hackers”—LLMs lower technical barriers, increase speed and sophistication of attacks.
  • “You're minting new adversaries... You can automate all of these sort of attacks, and you can do it with a level of sophistication that looks like a nation state.” – George Kurtz [53:27]

• ‘Prompt-Only Autonomous Malware’ ([54:41], [56:14])

  • New breed of malware uses LLMs to adapt, never “phones home,” uniquely fingerprinted, making detection vastly harder.

• State Actors & Remote Work Risks

  • North Korea and other nation-states using remote-hiring (fake employees) to infiltrate US companies ([58:15]).
  • Companies slow to adapt: “You have to tell a company that their employee may not be their employee... it's delicate.” – George Kurtz [58:54]

• Best Practices in Cyber Defense ([60:26], [68:08])

  • Meet employees in person!
  • Embed security in HR, filter AI-generated resumes.
  • Main vulnerabilities remain human: “The weakness is between the keyboard and the chair.” – George Kurtz [67:50]

• Enterprise Security Approaches

  • CrowdStrike’s focus on AI-powered “indicators of attack” and now “AI Detection & Response (aiDR)” for the new era of 90+ LLM agents per employee ([71:55]).

• Geopolitics: Russia & China’s Unique Attack Patterns ([61:22])

  • Russia: Patient, low profile, often intelligence-gathering.
  • China: Commercial focus—state-sponsored theft directly benefits domestic firms.
    • “The government breaks in, steals a trade secret from some company in the US, they'll just give it to another company in China.” – George Kurtz [63:23]

• Government Relations

  • Trump administration praised for “business-first approach” to security: Engage, consolidate, improve outcomes ([77:08]).

Best Quotes

• “If they want to get in bad enough, they're going to get in.” – George Kurtz [65:21]
• “Normally the weakness is between the keyboard and the chair…” [67:50]

3. Adam Goldstein (CEO, Archer Aviation): The VTOL Revolution & Regulatory Renaissance

(Segment: [77:52]–[101:15])

Key Insights

• Flying Cars Finally Arriving—2026? ([78:47])

  • Key breakthrough: Trump’s executive order fast-tracking regulatory approvals; five US cities to see regular VTOL operations announced and launched this year.
  • “The most important thing…President Trump issued an executive order that was fast-tracking the program… So they are now five cities gonna be announced in the first quarter, then we’ll start flying in the summer.” – Adam Goldstein [78:47]

• Why Los Angeles Stands Out

  • Hawthorne Airport acquisition gives Archer a hub near LAX, SpaceX, and other innovators ([80:22]).

• Global Expansion and Regulatory Climate ([82:55])

  • US, but also Middle East and Asia, eyeing VTOL for both transportation and as a “vanity” national project.

• Safety, Redundancy, & Autonomy ([89:29])

  • VTOLs offer order-of-magnitude safety gains over helicopters due to multiple redundancy layers—motors, batteries, and wings for “glide” if all else fails.
  • “The biggest thing is the pilots. That’s the part I worry about most... computers make a lot less mistakes.”

• Defense Applications ([96:36])

  • Partnership with Anduril for “attritable”—not-expendable, not-legacy—autonomous attack drones; delivers serious cost and personnel advantages.

• Impact of Supportive Policy ([98:44])

  • Major contrast in government engagement: “I could not get a meeting with the former Secretary of Transportation... Secretary Duffy comes in, and suddenly, monthly meetings: 'What can we do to help?'” – Adam Goldstein [98:44]
  • Potential for massive GDP impact as aviation modernization unlocks 11% of US GDP.

Notable Quotes

• “This is a technology they want—who wouldn't want it?... Nobody loses here. This is a win, win type of product.” [86:51]
• “We’re going to have five cities announced in Q1, then it starts flying in the summer.” [78:47]

4. Chase Lockmiller (CEO, Crusoe Cloud): Powering the Next Wave of AI via Energy-Driven Cloud Infrastructure

(Segment: [102:36]–[134:19])

Key Insights

• Why West Texas? Energy First, Not Permits ([104:46])

  • Crusoe Cloud chooses locations with excess “stranded” renewable energy, turning negative-priced power (abundant wind/solar with no grid buyer) into high-demand AI compute clusters.
  • “Man, you guys have too much energy—hey buddy, do I have an idea for you.” – Chase Lockmiller [105:25]

• Gigascale Buildout, Labor Boom ([109:04])

  • Data centers employ thousands during construction, 2,000+ permanent jobs per campus.
  • Electricians, mechanics now earning 2–3x previous rates; major labor migration and boomtown dynamics.

• Tech Stack & Sustainability ([111:07], [113:50])

  • Carbon capture in Wyoming: “You can produce power from gas in a carbon-free way.” [112:09]
  • Battery innovation for load-flattening, using recycled EV batteries (Redwood Materials: JB Straubel) to power AI data centers for less than Northern Virginia rates.

• Project Financing & Demand ([119:19])

  • Long-term leases with firms like Oracle underpin construction funding (JP Morgan, Apollo, BoA).
  • Even if one major AI player failed, demand is so high capacity would get absorbed instantly.

• Horizons: Small Modular Nuclear, Geothermal, Hydro ([129:11])

  • SMRs seen as critical, with first AI data center powered by nuclear (partner: Allo Energy) coming 2027 at Idaho National Lab [129:42].
  • Hydro/geothermal campuses in Nordics, Iceland.

• Unprecedented Scale & Acceleration ([125:55])

  • Cooling, density, and energy all being pushed to new extremes: single racks soon drawing 1 megawatt (like 1,000 homes)!
  • “Crusoe has over 45 gigawatts in our pipeline...8-10 New York Cities worth of power.” [127:16]

Quotes

• “There’s just...nobody has enough compute. None of the leading labs, none of the leading application companies...” [115:10]
• “Imagine a scenario where OpenAI went out of business...the group that surpassed them would jump to step into that seat.” [121:26]

Notable Moments & Quotes

• Jeremy Allaire [03:19]: “We needed a bridge...an HTTP for dollars.”
• George Kurtz [53:27]: “You’re minting new adversaries...automate attacks with a level of sophistication that looks like nation-state.”
• Adam Goldstein [78:47]: “Five cities going to be announced in the first quarter...will start flying in the summer.”
• Chase Lockmiller [127:16]: “Crusoe has over 45 gigawatts in our pipeline—8-10 New York Cities worth of power depending on how you measure it.”

Timeline of Major Segments

| Timestamp | Topic/Guest | |------------|---------------------------------------------------| | 00:00–52:33| Jeremy Allaire (Circle): Stablecoins, Regulation, Networks | | 52:33–77:52| George Kurtz (CrowdStrike): AI Security, State Actors, Remote Work | | 77:52–101:15| Adam Goldstein (Archer): VTOLs, Regulation, Defense | | 102:36–134:19| Chase Lockmiller (Crusoe): Energy-Driven Cloud, Labor, Financing, Nuclear |

Tone and Style

Candid, energetic, combative at times—Chamath pushes for revealing specifics, often encouraging guests to “say the quiet part out loud.” The CEOs respond with plain talk, actionable insight, and real anecdotes from the trenches. Recurring themes are radical transparency, regulatory realism, and pragmatic optimism about tech’s power to reshape everything—if business and government step up together.

In Summary

This All-In episode captures a cross-section of the “future of everything,” as reckoned by the leaders building it. From programmable money to AI threats, flying cars to gigawatt AI factories, the next 2–5 years promise a radical transformation of markets, societies, and governments. The game is wide open for those daring—and prepared—enough to build.