I've Been Up Here for Like Eight Hours to Day.

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Investor: "I was gaslighted that the market was sort of gas lighting all of us into thinking that the public comps for these companies were much higher than they were" Jakell, i dont know how much more you wat me to do. Hever ron e, ayou been avery of people for like ten hours. I'm like, don after an hour and a half. Anyway, brad, so let's go back to the hundred times a or our multipliat people were paying last year. We're trying to play the same game as a firm building a portfolio of 400 names,. It was like in to follow in a soft bank in two thousand and

This conversation was recorded LIVE at the All-In Summit in Miami and included slides. To watch on YouTube, check out our All-In Summit playlist: https://bit.ly/aisytplaylist

0:00 Bill Gurley & Brad Gerstner break down the state and historical significance of 2022's market downturn

12:27 How VCs will handle capital commitments from LPs, underwriting startups in the new reality

24:14 Bull run mistakes, why VCs don't underwrite lower valuations, handling distributions

33:52 Gurley's take on WeCrashed & Super Pumped TV series, how sophisticated investors got "gaslit" by the market, influx of capital creating consumer-surplus businesses

47:54 Brad predicts the market for next year, Bill gives post-Benchmark plans

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