What did Jason Calacanis and David Friedberg argue about the minimum wage on All-In?

Jason Calacanis said President Trump should raise the federal minimum wage by $1 a year for seven years, reaching $15 by 2032, arguing it affects only 10 to 15 million workers and the money is spent back at the same companies. David Friedberg said government wage-setting destroys jobs, citing California's 2024 law lifting fast-food pay to $20, which he said cost 18,000 jobs. He proposed zero income tax up to $150,000 instead.

• Jason pointed to Australia, New Zealand and the Nordic countries as places where raising the minimum wage worked.
• Chamath Palihapitiya said the US economy is now tied to the AI build-out and called Jason's minimum wage idea a terrible one.

▸In their words

“I never said go to $20 an hour.” Jason Calacanis · at 1:38:49 — open in the transcript →

Source: our own transcription of the episode. The full conversation is on All-In with Chamath, Jason, Sacks & Friedberg (2026-10-23). Read the whole episode summary →

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