E73: Late-stage VC markdowns and mistakes, market strategy, Ukraine/Russia update with Brad Gerstner

In this episode of the All-In Podcast, Jason Calacanis, Chamath Palihapitiya, David Sacks, and Brad Gerstner discuss the current state of the markets, the implications of the war in Ukraine, and potential investment strategies. The conversation covers topics such as the repricing of stocks, the impact of interest rate hikes, and the importance of company selection in a volatile market. They also delve into the geopolitical aspects of the war, questioning the U.S. administration's approach and the potential for economic sanctions to be used as a tool of statecraft. The hosts analyze the challenges faced by late-stage venture-backed companies and the need for founders to prioritize profitability and capital efficiency. The episode concludes with a discussion about the upcoming All-In Summit and its featured speakers.

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All-In Podcast

Introduction and Market Repricing Context

Market Predictions, Late-Stage Venture Mispricing, and the Importance of Macro Factors

Down-Round IPOs, Sloppy Investor Behavior, and the Problem of Too Much Venture Capital

Flight to Quality, IRR, and the Misalignment of Incentives in Venture Capital

Wartime CEOs, the Importance of Profitability, and the Problem of Unsophisticated Capital Allocators

Burn Multiple, the Lack of Qualified Investors, and the Importance of Company Selection

Investment Strategy, the War in Ukraine, and the Risk of Protracted Conflict

Economic Warfare, the Blinken Doctrine, and the Risk of Russian Escalation

The Risk of World War III, the Lack of U.S. Influence, and the Need for a Negotiated Settlement

Economic Statecraft, the CCP Tax Cuts, and the Risk of Recession

Demand Destruction, the All-In Summit, and the Debate Over Gift Bags and Entertainment

E73: Late-stage VC markdowns and mistakes, market strategy, Ukraine/Russia update with Brad Gerstner

All-In Podcast

00:00Introduction and Market Repricing Context

Introduction and Market Repricing Context

07:16Market Predictions, Late-Stage Venture Mispricing, and the Importance of Macro Factors

Market Predictions, Late-Stage Venture Mispricing, and the Importance of Macro Factors

15:27Down-Round IPOs, Sloppy Investor Behavior, and the Problem of Too Much Venture Capital

Down-Round IPOs, Sloppy Investor Behavior, and the Problem of Too Much Venture Capital

23:04Flight to Quality, IRR, and the Misalignment of Incentives in Venture Capital

Flight to Quality, IRR, and the Misalignment of Incentives in Venture Capital

32:22Wartime CEOs, the Importance of Profitability, and the Problem of Unsophisticated Capital Allocators

Wartime CEOs, the Importance of Profitability, and the Problem of Unsophisticated Capital Allocators

40:24Burn Multiple, the Lack of Qualified Investors, and the Importance of Company Selection

Burn Multiple, the Lack of Qualified Investors, and the Importance of Company Selection

49:25Investment Strategy, the War in Ukraine, and the Risk of Protracted Conflict

Investment Strategy, the War in Ukraine, and the Risk of Protracted Conflict

59:09Economic Warfare, the Blinken Doctrine, and the Risk of Russian Escalation

Economic Warfare, the Blinken Doctrine, and the Risk of Russian Escalation

1:07:32The Risk of World War III, the Lack of U.S. Influence, and the Need for a Negotiated Settlement

The Risk of World War III, the Lack of U.S. Influence, and the Need for a Negotiated Settlement

1:17:38Economic Statecraft, the CCP Tax Cuts, and the Risk of Recession

Economic Statecraft, the CCP Tax Cuts, and the Risk of Recession

1:25:38Demand Destruction, the All-In Summit, and the Debate Over Gift Bags and Entertainment

Demand Destruction, the All-In Summit, and the Debate Over Gift Bags and Entertainment