emily: i know andreessen horowitz has a big presence down there, and they are the target of a lot of chatter in silicon valley. marc andreessen writing the firm's biggest check ever to adam neumann, the founder of we work. some people are pretty unhappy about this. we spoke to a young founder and i want you to listen to what she had to say. >> you have to feel that rage when you are part of that community that is just historically blocked from accessing funding. what is a major, prestigious investment house doing backing fraud a second time? there is no excuse for that, and there has to be the ability to separate what is a good business idea that has the potential to be a good investment. from the person who is behind that idea and executing on it. emily: spencer, i'm going to leave it open ended. what is your take? spencer: there is a lot of commentary and discussion about that topic. i was very surprised by the size of the check. for a seed round, that is enormous by any standard. i don't know adam neumann. i suspect the team at andreessen horowitz had a hard look in the eye with hi

we should note that bloomberg lp has invested in this. -- in andreessen horowitz.reak it down for us is our reporter who covers report from delaware. is this pretty common as part of discovery? >> it is standard operating procedure for both sides in these lawsuits to issue a bunch of subpoenas to banks, equity investors, lawyers, so they can gather the information they need to build their cases. >> we have spoken to these friends of elon musk. they have come on to talk about the potential for this to happen. listen to what he had to say. >> when you put bots on twitter and pretend to be someone you are not, you are basically portrayed as fraud. it is perfectly fair game under any free-speech policy to take down these kinds of bots. i fully expect that elon will be far more effective at doing that than the current management of twitter because they are unable to do that. >> we don't know what kind of discussions they had behind-the-scenes if any at all but what might they be hoping to get from someone like david sachs? >> this issue of the bots is where the rubber w

emily: taking on andreessen horowitz is bold. you might never get a check for them.ake that risk? >> what this signals to the world and particularly to underrepresented founders, only 2% of dollars go to women. i don't think i am getting a check from them. it also signals that their check is not for me. unfortunately, it signals that venture may not be for many founders. that's just not true, but you have to be intentional and realistic about where you put your time as a founder if you want to go with a successful company, and whose money it is you're taking. for me, business ethics, competency and honesty are paramount along with the viability of the idea of the difference i want to make in this industry. i do not want investors who do not believe in that. i do not want an investor who clearly says it is ok that you overstated yourself and your business, we are still going to write you a check. to the exclusion of others who have more viable business ideas and better business ethics. emily: you allude to that in your tweet, choose wisely. you also told techcrunch, y

it's a pretty big deal that andreessen horowitz is moving its headquarters, if you will, to the cloudening offices in miami and other parts of the country, right? >> a major deal. a watershed moment, for those who aren't familiar with injuries and horowitz, it's one of the largest vcs with the most under management. they back things like lift, roadblocks, employing more than other firms. for them to say we no longer need to be in silicon valley, green lights, that practice for founders already found that working remotely works well. emily: is this the start of a trend? >> i would say its continuation of a trend that began before pandemic and this accelerates it. looking globally, how venture capital is distributed, the u.s. got 84% of total venture capital back in 2004. 2020 one the u.s. only got 49%. silicon valley's share of that continues to go down over time and this is accelerating that and of the reasons why is because there are so many new places to get funding. emily: is your expectation is silicon valley will maintain dominance but there will be miniature silicon valley's aro

emily: there has been a lot of controversy over a very big check that andreessen horowitz wrote out toofounder of we work, for his new real estate venture. some people to like it, some people do. what do you think? andrea: it is the single-largest investment check and have ever written. and i think they also supported adam neumann for everything he is doing on the block chain side. i think the strategy here is that, obviously, adam neumann, whether we love him or hate him, he is a proven founder and he can do it again. he already tried it with me -- with welive. did not work out, there were other things to focus on. the narrative interesting here is how adam neumann says that at flow, they learn to up our crypto wallet as part of the entire offering here, and they say that users can pay to earn and rent to own as well. so i think the overall strategy for andreessen is that this is not only a category defining way to change where we live, and how the biggest asset class being real estate, could change. it goes to the thesis that and reason has around crypto going forward and how they cr

andrieessen horowitz was an eary investor in names like facebook and airplane bb. and co-founder marc andreessenog post today, "we think it is natural that for his first venture since wework adam returns to the theme of connecting people through transforming their physical spaces and building communities where people spend the most time their homes. our deirdre bosa, who's covered wework for years, joins us for more and deirdre, my question is did marc andreessen not watch "we crashed" he must have he got a little jealous he didn't have a part in it, sara it's a lot of people, not just wall street buzzing about this a lot of of people in the bay area are kind of scratching their heads and thinking okay, adam neumann may be still this kind of incredible founder and entrepreneur a lot of charm really good pitch man. but if you think that he's been humbled from the experience with wework, why throw another $350 million at him for a company to value it at a billion dollars prelaunch? it feels sort of like deja vu all over again in terms of what the actual business is, flow, we don't know a lot of th

my name is catherine boyle, and i'm a general general partner and andreessen horowitz. i'm pleased to be here today to welcome author jimmy sony to discuss his new book the founders the story of paypal and the entrepreneurs who shape silicon valley and it's especially wonderful to be here because i knew jimmy in my early 20s, and this book really takes place talking about a group of people who supporting each other and worked really hard together and have been lifelong friends meeting after college meeting in their early 20s, so it's very special for me as a former fellow journalist and writer to be interviewing him because because we shared that time together as well, but in the founders jimmy unpacks the long and difficult journey of paypal from a barely known startup to one of the largest tech companies in the world and a household name and it he tells us the unsung heroes extreme competition. it and huge challenges faced by the company as it fought to implement cashless currency back when few dare to try. so we'll be covering a lot in the next hour and we encourage