The chapter explores the emotions and relationships involved in the private markets, emphasizing the importance of recognizing when plans aren't working and making the decision to move on. It then discusses the recent swing in the two-year bond rate and its implications for inflation expectations in the public markets.
(0:00) Bestie intros!
(6:47) The VC FOMO frenzy in AI
(25:22) Current LP mindset, VCs leaving boards, startup cram downs and mark downs
(37:23) Macro update: inflation not done, weaker earnings, interest rates
(52:01) Marc Benioff channels his inner Elon Musk, the stock-based compensation boom
(1:11:59) Fox News facing defamation lawsuit over false election fraud claims, TikTok ban heats up, competition with China
(1:34:33) Ukraine update: China's peace proposal, US strategy
(1:46:34) Harvard legacy admissions, Draymond Green on Black History Month
(1:50:01) Stripe chart errata, bestie wrap!
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Referenced in the show:
https://www.wsj.com/articles/why-i-stood-up-to-disney-florida-woke-corporatism-seaworld-universal-esg-parents-choice-education-defa2506
https://www.thedailybeast.com/bill-maher-shares-definition-of-woke-during-jake-tapper-cnn-interview
https://www.economist.com/business/2023/02/28/investors-are-going-nuts-for-chatgpt-ish-artificial-intelligence
https://podcasts.apple.com/ca/podcast/doug-leone-lessons-from-a-titan/id1154105909?i=1000602027979
https://openai.com/blog/introducing-chatgpt-and-whisper-apis
https://twitter.com/heykahn/status/1628453782177865728
https://www.ft.com/content/21420ce2-92a1-43a0-a153-04ac7c872466
https://www.wsj.com/articles/instacart-sees-revenue-profit-boost-ahead-of-public-listing-1d7891d
https://cdn.statcdn.com/Infographic/images/normal/21023.jpeg
https://www.barrons.com/articles/home-prices-dropping-redfin-fac43ede
https://www.google.com/finance/quote/CRM:NYSE
https://s23.q4cdn.com/574569502/files/doc_financials/2023/q4/CRM-Q4-FY23-Earnings-Press-Release-w-financials.pdf
https://seekingalpha.com/article/4583622-salesforce-inc-crm-q4-2023-earnings-call-transcript
https://twitter.com/altcap/status/1631361678582611970
https://www.investopedia.com/articles/06/fas123r.asp
https://www.wsj.com/articles/in-deposition-rupert-murdoch-says-fox-news-hosts-endorsed-false-2020-election-claims-c9348fc0
https://www.reuters.com/technology/tiktok-develop-parental-control-tool-block-certain-videos-2023-03-01
https://www.reuters.com/technology/white-house-gives-agencies-30-days-impose-federal-device-tiktok-ban-2023-02-27
https://www.wsj.com/articles/house-committee-lays-out-case-for-china-threat-ad62c611
https://www.euronews.com/2023/02/27/chinas-peace-plan-russia-says-no-conditions-for-peaceful-solution-or-ukraine-for-now
https://www.wsj.com/articles/ukraine-war-depleting-u-s-ammunition-stockpiles-sparking-pentagon-concern-11661792188
https://twitter.com/wikileaks/status/1496886759665586177
https://twitter.com/deloreshandy/status/1629516350602264582
https://www.nber.org/system/files/working_papers/w26316/w26316.pdf
https://www.tmz.com/2023/03/01/draymond-green-calls-end-black-history-month-celebrate-all-year
https://www.bloomberg.com/news/newsletters/2023-03-02/how-former-fugee-pras-michel-got-involved-in-1mdb-scandal-big-take
https://www.newyorker.com/magazine/2023/03/06/how-the-biggest-fraud-in-german-history-unravelled
