Boeing

The discussion

Both Chamath and Friedberg hold high-conviction bearish views on Boeing, with their criticism centered on the failure of the Starliner program. Friedberg highlights the program's collapse as a concrete, costly outcome — noting that Boeing spent more on Starliner than SpaceX did on the entire Crew Dragon program, only to walk away with nothing. Chamath frames the Starliner debacle as symptomatic of a deeper, systemic cultural failure, arguing that Boeing's incentive structures have long prioritized EPS growth over engineering safety, a problem he says has persisted across leadership and pervades all three of the company's major divisions. The two hosts agree that Boeing is fundamentally broken, differing mainly in emphasis: Friedberg focuses on the measurable waste and program-level failure, while Chamath points to the underlying cultural and incentive misalignment as the root cause.