A company in the same ation who wouldn't tell us about a sale. It turned tout the bankers were taking forty percent ofthe sale, whatever. "It's like that level of grift happens right before ... we have to rerate valuations"
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?