What Is the Mistake We've Made Over This Last Bull Run?

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Investing is really focken hard. And theres there's a lot of ways you can lose, you know. People are friendly cause they want so nobody. Nobody does 't nobody. Girley: I just think that whel companys ay, there in there's no v c club where they get together and discuss ea,. The the i the price fixing bu keep in mind is as that risk gon go slowly up and up and up," he says.

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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