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/chamath https://linktr.ee/calacanis https://twitter.com/DavidSacks https://twitter.com/friedberg Follow the pod: https://twitter.com/theallinpod https://linktr.ee/allinpodcast Intro Music Credit: https://rb.gy/tppkzl https://twitter.com/yung_spielburg Intro Video Credit: https://twitter.com/TheZachEffect Referenced in the show: https://www.wsj.com/articles/the-elizabeth-holmes-verdict-theranos-founder-is-guilty-on-four-of-11-charges-in-fraud-trial-11641255705 https://www.bbc.com/news/technology-58469882 https://www.nytimes.com/2022/01/04/technology/elizabeth-holmes-verdict.html https://www.wsj.com/articles/the-theranos-fraud-elizabeth-holmes-convicted-trial-blood-testing-start-up-11641330471 https://www.businessinsider.com/bill-maris-explains-why-gv-didnt-invest-in-theranos-2015-10 https://www.skadden.com/insights/publications/2021/06/insights-the-delaware-edition/delaware-courts-expand-plaintiffs-rights 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 https://techcrunch.com/2022/01/07/andreessen-horowitz-raises-9b-in-new-capital-for-venture-growth-bio-funds