E62: Elizabeth Holmes verdict, fraud origins & takeaways, navigating "The Great Markdown" & more
All-In with Chamath, Jason, Sacks & Friedberg
All-In Podcast, LLC
4.0 • 10.4K Ratings
🗓️ 8 January 2022
⏱️ 67 minutes
🧾️ Download transcript
Summary
0:00 Bestie intro and poker recap
3:14 Elizabeth Holmes verdict, origins of the fraud, breakdown of the Theranos promise
17:51 Lessons for founders and investors from the Theranos debacle, bad behavior a sign of the top
26:09 Implications of "The Great Markdown" on public and private markets, confusing FED decisions
45:56 Advice for founders on navigating a downturn
1:00:01 a16z's new mega funds; should they go public? How does that change partner dynamics?
Follow the besties:
https://twitter.com/DavidSacks
Follow the pod:
https://twitter.com/theallinpod
https://linktr.ee/allinpodcast
Intro Music Credit:
https://twitter.com/yung_spielburg
Intro Video Credit:
https://twitter.com/TheZachEffect
Referenced in the show:
https://www.bbc.com/news/technology-58469882
https://www.nytimes.com/2022/01/04/technology/elizabeth-holmes-verdict.html
https://www.businessinsider.com/bill-maris-explains-why-gv-didnt-invest-in-theranos-2015-10
https://www.cnbc.com/2022/01/05/fed-minutes-december-2021.html
https://fred.stlouisfed.org/series/T10YIE
http://www.paulgraham.com/aord.html
https://www.socialcapital.com/annual-letters/2019
https://medium.com/craft-ventures/the-burn-multiple-51a7e43cb200
https://www.statista.com/statistics/266206/googles-annual-global-revenue
Transcript
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| 0:00.0 | Happy New Year. |
| 0:02.0 | Happy New Year. |
| 0:04.0 | Guys, listen, look at this. |
| 0:06.0 | It's now, it's candle season. |
| 0:08.0 | Oh, God. |
| 0:09.0 | Look at the equanimity. |
| 0:11.0 | Look at this equanimity. |
| 0:12.0 | This candle costs $24,000. |
| 0:15.0 | It is a extremely rare Brazilian sandalwood. |
| 0:20.2 | You literally have to go into the Amazon and like, you know, you basically have to like, |
| 0:26.0 | I mean, find extinguished. |
| 0:28.0 | No, bro, you got to tear out like two acres of rainforest and then you find this one tree |
| 0:33.0 | completely, you know, sacred. |
| 0:36.0 | And then you chop it down. |
| 0:38.0 | You make this delicious. |
| 0:39.0 | You do this and it lasts for a full 45 minutes. |
| 0:42.0 | How do you like that, sweater Karen? |
| 0:44.0 | Oh, the candle carons are going to be called Karen. |
| 0:47.0 | Candle carons are calling it right now. |
| 0:49.0 | The DMs are coming. |
| 0:50.0 | You guys want to hear about poker last night? |
| 0:52.0 | Oh, did you go? |
... |
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