All-In with Chamath, Jason, Sacks & Friedberg

E81: All-In Summit: Bill Gurley & Brad Gerstner on markets, downturns & investment cycles

May 23, 2022

Bill Gurley, a seasoned venture capitalist from Benchmark, and Brad Gerstner, an experienced investor, dive into the tumultuous market downturn of 2022. They discuss how VCs are adapting to new realities in capital commitments and the strategic shifts needed in investment practices. Gurley shares his thoughts on popular media portrayals of entrepreneurs, while Gerstner offers predictions for the market's future. They emphasize the importance of reevaluating investment strategies amidst inflation and changing consumer behaviors.

51:32

Creator website

Episode guests

Brad Gerstner

Bill Gurley

Highlights

AI Chapters

Episode notes

The Negative Unit Economics and Drive Growth Trend

01:33

CP on losing money by holding on to Slack stock

01:07

The Cyclical Nature of the Venture Industry

02:31

The Impact of Performance in Venture Capital

00:39

Intro

2min

Navigating Market Shifts: Risk On to Risk Off

9min

Navigating Venture Capital in Changing Markets

13min

Navigating Venture Capital Dynamics

9min

Analyzing Media Portrayals of Entrepreneurs

2min

Navigating Real Estate and Investment Dynamics

12min

Investing Insights and Market Trends

4min

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

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

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.