All-In x Kill Tony: A Hilarious Holiday Special

Watch on YouTube ↗  |  December 24, 2025 at 20:00  |  1:18:19  |  All-In Podcast
Speakers
David Friedberg — CEO, The Production Board
Jason Calacanis — Angel Investor / Founder, LAUNCH
Tony Hinchcliffe — Comedian, host of Kill Tony
David Sacks — General Partner, Craft Ventures

Summary

A comedy holiday special: Tony Hinchcliffe roasts the All-In hosts (Chamath absent), is interviewed about building Kill Tony, selling out Madison Square Garden, the Trump rally set, Austin's comedy scene and speech restrictions on YouTube and in Europe, then has Jason, Sacks and Friedberg perform Kill Tony sets. The episode closes with the 2025 Bestie Awards, where Alphabet is named biggest business winner, Apple and Warner Bros. Discovery biggest losers, Jensen Huang and Alex Karp CEOs of the year, and Tony mentions TKO as the only stock he has ever recommended. Market-relevant content is light and mostly retrospective.

  • Tony Hinchcliffe roasts Jason Calacanis, David Sacks and David Friedberg; Chamath did not attend.
  • Interview covers Kill Tony's 12-year rise, selling out MSG, the Trump rally set, and Austin as the best comedy city.
  • Tony criticizes YouTube's shifting demonetization and age-restriction rules and contrasts Netflix's creative freedom.
  • Hosts discuss speech crackdowns in Europe and California's vetoed SB771 hate-speech bill.
  • Bestie Awards: Friedberg and Jason name Alphabet biggest business winner (AI pivot, cloud growth, YouTube, search growth despite ChatGPT).
  • Sacks picks data-center construction workers as winners and universities as losers; Friedberg picks Warner Bros. Discovery and Jason picks Apple as losers.
  • CEO of the year picks: Jensen Huang (Nvidia) and Alex Karp (Palantir); Tony says TKO is the only stock he ever told a friend to buy.
  • Political picks: Sacks names crypto a policy winner and Europe a loser; Friedberg flags Europe's speech crackdown; Tony backs Trump.
Ideas
David Friedberg CEO, The Production Board 50:27
Alphabet firing on all cylinders in AI.
Picks Alphabet as the biggest business winner of 2025. Its market cap went from roughly $2 trillion to $4 trillion this year, adding about $10 billion of value every single day. The company pivoted into AI and took risks, Google Cloud is growing about 40%, and YouTube is the number one media company in the world, all under one roof. In his words, Alphabet crushed it on all cylinders.
GOOG MED
Jason Calacanis Angel Investor / Founder, LAUNCH 51:29
Google beat ChatGPT fears; search grew.
Also names Alphabet the biggest business winner of 2025. A year ago everyone assumed Google would be killed by ChatGPT; instead the search franchise grew this year when everybody expected it to decline, and the debate has flipped to ChatGPT probably being killed by Google. Google was underestimated: it had been very conservative in releasing products and started taking more chances once founder Sergey Brin came back to work full-time.
GOOG MED
Jason Calacanis Angel Investor / Founder, LAUNCH 57:32
Apple squandering distribution; no real innovation.
Names Apple the biggest business loser of 2025. The company has unlimited distribution and unlimited capital, yet the most impressive thing it has shipped in the last 10 years is a thin iPhone, which he calls a huge missed opportunity. If the best thing Apple has done recently is a streaming show (Pluribus), the company has a real problem.
AAPL MED
Tony Hinchcliffe Comedian, host of Kill Tony 70:14
TKO: UFC and WWE keep growing.
TKO is the only stock he has ever told his golf buddy to buy, and it has been a wild success. Dana White knows how to put on a hell of a show with UFC, WWE is always amazing and always growing, and WWE leaders Nick Khan and Paul Levesque have taken the historic company and struck many huge deals with different networks.
TKO MED
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All-In Podcast · Dec 22

This All-In Podcast video, published December 24, 2025, features David Friedberg, Jason Calacanis, Tony Hinchcliffe discussing GOOG, AAPL, TKO. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: David Friedberg, Jason Calacanis, Tony Hinchcliffe  · Tickers: GOOG, AAPL, TKO