All-In with Chamath, Jason, Sacks & Friedberg

E73: Late-stage VC markdowns and mistakes, market strategy, Ukraine/Russia update with Brad Gerstner

Mar 26, 2022

Brad Gerstner, CEO of Altimeter Capital, shares his insights on the turbulent landscape of late-stage venture capital. He discusses the recent markdowns of companies like Instacart and dissects the factors driving market adjustments. The conversation dives into the psychology of investors and founders, emphasizing the need for a market reset. Additionally, Gerstner weighs in on the complexities of the Ukraine-Russia conflict, exploring potential pathways to peace amidst growing geopolitical tensions. Let's just say, it's a high-stakes balancing act!

01:36:18

Creator website

Episode guests

Brad Gerstner

AI Chapters

Episode notes

Intro

2min

Market Dynamics Amidst Uncertainty

11min

Impact of Interest Rates on Tech Company Valuations

2min

Navigating Investment Challenges

12min

Navigating the Late-Stage Venture Landscape

12min

Challenges in Venture Capital Investment

8min

Navigating Investment Challenges

5min

The Ineffectiveness of 'Clapping' as a Market Strategy

3min

Navigating the Ukraine-Russia Conflict

16min

10.

Geopolitical Tensions: Ukraine and Russia's Path to Peace

16min

11.

Examining Economic Slowdown and Global Interconnectedness

3min

12.

Economic Policies and Global Tensions: Impacts on Employment and Recession

2min

13.

Event Planning Antics

6min

0:00 Bestie Guestie Brad Gerstner is filling in for Friedberg

1:34 Understanding public SaaS and Internet multiples, Instacart's cuts its valuation by 40%, understanding reality of overvalued late-stage companies

21:52 Capital allocators at fault, how crossover funds are reacting, late-stage price discovery, investor and founder behavioral psychology

40:37 Sacks' burn multiple, managing growth spend, new VC qualifications, lessons from the COVID bubble

53:58 Russia/Ukraine: US potential non-ceasefire strategy, Zelenskyy's revelations in CNN interview, rhetoric getting more aggressive

1:08:58 How will Putin withdraw without redacting the sanctions? What is the offramp? Zelenskyy's posture on global war

1:24:18 Understanding China's recently announced tax cuts, All-In Summit talk

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