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AC Andrew Chan On My Food Job Rocks!

“I think everything's been eaten up by AI investments. I think it's almost impossible to justify a SpaceX valuation at 1.6 trillion, and that money would normally go elsewhere.”

My Food Job Rocks! · Alternative Proteins · November 2026

“I think everything's been eaten up by AI investments. I think it's almost impossible to justify a SpaceX valuation at 1.6 trillion, and that money would normally go elsewhere.” — Andrew Chan, My Food Job Rocks!

Context

Asked whether biotech's brutal funding market was due to AI absorbing the money, Andrew says it has hurt every other sector, and points to the SpaceX valuation as his example.

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Transcript

My Food Job Rocks! Around 18:33 into the episode
Andrew Chan

For no reason. I mean, even the Publix trade, some of them are trading below cash on hand, which is when you see that, you're like, well, that doesn't make a ton of sense. But

Adam Yee

do you think it's been eaten up by AI investments, essentially?

Andrew Chan

I mean, I think everything's been eaten up by AI investments. I think it's almost impossible to justify a SpaceX valuation at 1.6 trillion. It's not, and that money normally would go elsewhere if it right there.

Adam Yee

For sure. God. Okay. So speaking of kind of biotech and other things and moonshots, I'm in the food tech space. So I've been in contact and worked with a lot of GFI, Good Food Institute. It's a nonprofit that focuses a lot on kind of replacing animal meat with other types of meat, like plant-based…

Andrew Chan

Alternative meat is something I have probably more familiar with than any of the above. So the group I was a part of previously, Builders VC, was the other half of Formation 8, which had been in, I believe it's now called Unicorn Meats, but Memphis Meats at the time. Okay,

Adam Yee

no, upside foods. Upside

Speaker names come from our own diarization. The position is estimated from where the line sits in the episode.

More from My Food Job Rocks!

“You have to see the dark side of this industry to know what the good side has been. I have sat with founders over drinks and had to say, look, we're liquidating your company. I've seen late-stage companies go to zero. If you don't know the lows, it's very easy to think it's a high all the time because of the market. But those lows always catch up to you. Time is cruel and the market is indiscriminate.” — Andrew Chan, My Food Job Rocks! “The number of people who gaslight themselves into thinking things taste good that do not is really high.” — Andrew Chan, My Food Job Rocks!