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Sat, 17 Apr 2021 02:12:13 +0000
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Around 5–6 months after mid‑April 2021 (i.e., by roughly September–October 2021, when the California gubernatorial recall election occurs), the U.S. economy will be booming again, COVID-19 will effectively be over as a major issue, and California voters will largely have forgotten Governor Newsom's earlier mishandling of vaccines.
despite all of that, by the time we actually get around to the recall, which will be in about 5 or 6 months, uh, the recall election, you know, the economy is going to be booming again. COVID's going to be over. People will probably forget.View on YouTube
Explanation

Assessing the three main components of Sacks’s prediction against what actually happened by the California recall election on September 14, 2021:

  1. "The economy is going to be booming again"
    At the national level, this was broadly accurate.

    • Real U.S. GDP grew about 5.9–6.2% in 2021, the fastest annual growth since the mid‑1980s, reflecting a strong post‑COVID rebound. (en.wikipedia.org)
    • The unemployment rate fell from 6.1% in April 2021 to 4.8% by September 2021, a steep improvement, even though the September jobs report (194,000 jobs added vs. ~500,000 expected) disappointed forecasters. (bls.gov)
      Overall, many economists and officials described the 2021 recovery as very strong; calling the economy “booming” is defensible.
  2. "COVID's going to be over" (as an issue by the recall)
    This was clearly false.

    • The Delta variant wave peaked in mid‑September 2021, with around 127,000 new U.S. cases per day, and hospitals across the country were again in crisis conditions. (en.wikipedia.org)
    • By mid‑September, the U.S. had surpassed 40 million cases and more than 675,000 deaths, exceeding estimated U.S. deaths from the 1918 flu; by early October, deaths passed 700,000. (en.wikipedia.org)
    • In the California recall exit polls, roughly one‑third of voters said the ongoing COVID‑19 pandemic was the most important issue facing the state—the single top concern—indicating COVID was very much not “over” as a major political or public concern. (cbsnews.com)
  3. "People will probably forget" Newsom’s earlier vaccine/ COVID missteps
    Partly but not fully accurate; voters didn’t forget the pandemic, but earlier anger over vaccine rollout largely faded.

    • Early 2021 polling (e.g., Berkeley IGS in February) found strong dissatisfaction with Newsom’s handling of COVID and especially vaccine distribution—only about 22–29% rated vaccine rollout as good or excellent, and his pandemic handling was widely criticized. (calmatters.org)
    • By September 2021, however, a PPIC survey cited in CNBC found that over three‑quarters of Californians thought the state government was doing an “excellent or good” job distributing COVID vaccines, and roughly 6 in 10 approved of Newsom’s overall pandemic response. (cnbc.com)
    • High‑vaccination counties voted strongly to keep Newsom, and analyses of the recall emphasized that his pro‑vaccine, pro‑mandate stance had become a political asset, not a liability; Newsom explicitly framed his victory as a mandate for his COVID and vaccination policies. (cnbc.com)
      So, while voters absolutely had not “forgotten” COVID—the issue was front and center in their minds—they had largely moved past or forgiven the earlier vaccine‑rollout problems by the time of the recall.

Overall judgment

  • The economic part of the prediction was broadly right.
  • The central claim that “COVID’s going to be over” and thus no longer a major issue was decisively wrong: the Delta surge was peaking, and COVID was the top issue in California’s recall. (en.wikipedia.org)
  • Voters didn’t forget the pandemic; instead, they ended up largely approving of Newsom’s later COVID/vaccine policies and kept him in office.

Because the most consequential part of the scenario—COVID being effectively “over” as a major issue by the recall—turned out to be incorrect, the overall prediction is best classified as wrong, albeit with some partially correct components about economic recovery and the fading of anger over the initial vaccine rollout.

Total COVID-19 vaccination coverage in the United States will top out at roughly 60–65% of the population (i.e., no more than about 65% of people will choose to get vaccinated).
Yeah, I would guess 60, 60, 65%.View on YouTube
Explanation

CDC data show that COVID-19 vaccination coverage in the U.S. rose well beyond the 60–65% ceiling Friedberg anticipated.

If we interpret his statement "no more than about 65% of people will choose to get vaccinated" as ever receiving at least one dose (the natural reading of “choose to get vaccinated”):

  • By October 7, 2021, 65.1% of the total U.S. population had already received at least one COVID-19 vaccine dose, reaching the top of his predicted range. (archive.cdc.gov)
  • Coverage continued to increase: by March 9, 2022, 76.6% of the total population had received at least one dose. (archive.cdc.gov)
  • By August 24, 2022, about 262.6 million people—79.1% of the total U.S. population—had received at least one dose, clearly above 65%. (archive.cdc.gov)
  • Survey data from CDC’s 2022 National Health Interview Survey similarly estimate that 79.7% of U.S. adults ≥19 years had ever received at least one COVID-19 shot. (cdc.gov)

Even if we interpret his prediction more narrowly as referring to completion of the initial ("fully vaccinated") primary series, that share also exceeded his upper bound: by August 24, 2022, 67.4% of the total U.S. population was fully vaccinated, above 65%. (archive.cdc.gov)

Since both the "at least one dose" and "fully vaccinated" measures rose materially above 65%, the prediction that U.S. COVID vaccination coverage would top out around 60–65% was wrong.

SARS‑CoV‑2 (COVID-19) will remain endemic in the United States for multiple years and case counts will not fall to zero at any point in the foreseeable future.
we are going to have Covid in the United States for years to come. It is not going to go to zero.View on YouTube
Explanation

Evidence as of 2025 shows that SARS‑CoV‑2 has indeed become an endemic virus in the United States and that case counts have never fallen to zero nationwide since 2021.

  1. Persistent circulation and endemic status

    • Major public‑health authorities (e.g., CDC, WHO) now describe COVID‑19 as a virus that will continue to circulate long‑term, similar to influenza and other respiratory viruses, rather than something that can be eradicated. This is reflected in guidance about ongoing vaccination campaigns, fall/winter booster recommendations, and surveillance programs which all assume continued transmission for the foreseeable future.
  2. Cases have not gone to zero

    • U.S. surveillance data show continuing COVID‑19 cases and hospitalizations every year since 2021, with clearly documented waves in late 2021 (Delta/Omicron), 2022, 2023, and beyond. Publicly available dashboards and data aggregators based on CDC reporting show no period where U.S. national case counts dropped to zero; instead, they fluctuate but remain above zero at all times.
  3. Timeline vs. prediction

    • The prediction was made in April 2021 and stated that “we are going to have Covid in the United States for years to come” and that it “is not going to go to zero.”
    • As of late 2025 (more than four years later), SARS‑CoV‑2 is still circulating in the U.S. at non‑zero levels, matching both parts of the prediction: multi‑year persistence and no eradication.

Given the sustained endemic circulation and the absence of any zero‑case period at the national level, Friedberg’s prediction is right.

If $2,000 is invested at birth into a low-cost S&P 500 index fund and compounds at an annualized 8% nominal return, its value at age 65 will be approximately $297,000.
Just so you know, the $2,000, by the time you're 65 at at 8%, which is, you know, if you just buy the S&P ETF would be about 300,000 297,000.View on YouTube
Explanation

Interpreting this as a conditional math statement, it is correct. Using the compound interest formula FV = PV·(1+r)^n with PV = $2,000, r = 0.08, and n = 65 years, the future value is:

FV = 2000 × 1.08^65 ≈ 2000 × 148.78 ≈ $297,560, which is “about 300,000 / 297,000” as Chamath said.

Note this does not guarantee the S&P 500 will actually deliver an 8% nominal annualized return; it only states the mathematically correct outcome if that rate is achieved.