All-In with Chamath, Jason, Sacks & Friedberg
Oct 15, 2026 · 42 min · 14 segments
(0:00) Billy Evans joins Friedberg (3:38) How they met, Elizabeth the person vs the headlines, indictment (11:02) Life on trial, having a child, where she went wrong in fundraising (19:28)…
Billy EvansGuestThere was this period of time when everyone talked about Elizabeth Holmes being manipulative-
in wearing the turtleneck, and talking with a deep voice, and having this kind of character that she played, where the idea was, if she's playing a character for everyone else around here, you know, clearly she's playing a character all the time, and that might be the origin of the, the fraud, of the, the manipulation.

I think there's a lot of things that have been said about that, and some of them, I think if you just look back, like, with as much clarity as you can muster, um, and try and disassociate, like, Elizabeth Holmes from the situation as much as possible.

You know, like, that she would manipulate people with her big blue eyes, and that her deep voice would immediately have people give her, you know, $100 million.

You know, Liz would have a meeting with somebody, like, I'll, I'll not insert name here, but think, like, one of the biggest family offices on Earth.

They'd commit $100 million by the end of the meeting, and any guy that did that, people would say, "Wow, what an incredible ability to tell a story.

What an incredible ability to have deep conviction in the thing that you believe in, that this person wants to support your mission and your vision." And when it's Liz, it's, "Wow, she fleeced that person in 45 minutes."
But was there any experience you had where Elizabeth stretched the truth, where she was kind of pushing the boundaries, where the imagination in her mind maybe became the reality?

Liz is somebody who, like, so deeply believes, and until you've met somebody like her, it's really hard to understand what that's like.

Um, but I think a lot of the things that are kind of most litigated in the press at least, and most described, uh, this is not, like, the machinations of a woman, of a single person.

This was hundreds of employees working tirelessly for 16 years to solve a really difficult problem.
There was this period of time when everyone talked about Elizabeth Holmes being manipulative-
in wearing the turtleneck, and talking with a deep voice, and having this kind of character that she played, where the idea was, if she's playing a character for everyone else around here, you know, clearly she's playing a character all the time, and that might be the origin of the, the fraud, of the, the manipulation.

I think there's a lot of things that have been said about that, and some of them, I think if you just look back, like, with as much clarity as you can muster, um, and try and disassociate, like, Elizabeth Holmes from the situation as much as possible.

You know, like, that she would manipulate people with her big blue eyes, and that her deep voice would immediately have people give her, you know, $100 million.

You know, Liz would have a meeting with somebody, like, I'll, I'll not insert name here, but think, like, one of the biggest family offices on Earth.

They'd commit $100 million by the end of the meeting, and any guy that did that, people would say, "Wow, what an incredible ability to tell a story.

What an incredible ability to have deep conviction in the thing that you believe in, that this person wants to support your mission and your vision." And when it's Liz, it's, "Wow, she fleeced that person in 45 minutes."
But was there any experience you had where Elizabeth stretched the truth, where she was kind of pushing the boundaries, where the imagination in her mind maybe became the reality?

Liz is somebody who, like, so deeply believes, and until you've met somebody like her, it's really hard to understand what that's like.

Um, but I think a lot of the things that are kind of most litigated in the press at least, and most described, uh, this is not, like, the machinations of a woman, of a single person.

This was hundreds of employees working tirelessly for 16 years to solve a really difficult problem.
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