with Nick Quah (@nwquah), Connie Chan (@conniechan), and Sonal Chokshi (@smc90) It's a podcast about podcasting! About the state of the industry, that is. Because a lot has changed since we recorded "a podcast about podcasts" about four years ago: podcasts, and interest in podcasting -- listening, making, building -- is growing. But by how much, exactly? (since various stats are constantly floating around and often out of context); and what do we even know (given that no one really knows what a download is)?And in fact, how do we define "podcasts": Should the definition include audio books... why not music, too, then? So much of the podcasting ecosystem -- from editing tools to the notion of a "CD phase" to music companies like Spotify doing more audio deals -- stems from the legacy of the music industry. But other analogies -- like that of the web and of blogging! -- may be more useful for understanding the podcasting ecosystem, too. Heck, we even throw in an analogy of container ships (yes, the ocean kind!) to help out there.If we really think medium-native -- and borrow from other mediums and entertainment models, like TV and streaming and even terrestrial radio -- what may or may not apply to podcasting as experiments evolve? In this hallway-style jam of an episode, Nick Quah (writer and publisher of Hot Pod) joins a16z general partner Connie Chan (who covers consumer startups among other things) in conversation with Sonal Chokshi (who is also showrunner of the a16z Podcast) to talk about all this and more. We also discuss the obvious and the not-so-obvious aspects of monetization, discovery, search, platforms... and where are we in the cycles of industry fragmentation vs. consolidation, bundling vs. unbundling, more? And where might opportunities for entrepreneurs, toolmakers, and creators lie? The views expressed here are those of the individual AH Capital Management, L.L.C. (“a16z”) personnel quoted and are not the views of a16z or its affiliates.This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investor or prospective investor, and may not under any circumstances be relied upon when making a decision to invest in any fund managed by a16z. (An offering to invest in an a16z fund will be made only by the private placement memorandum, subscription agreement, and other relevant documentation of any such fund which should be read in their entirety.)Past performance is not indicative of future results. Any charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Please see https://a16z.com/disclosures for additional important information.

with Safi Bahcall (@safibahcall), Vijay Pande (@vijaypande), and Sonal Chokshi (@smc90) A "moonshot" is a destination (like going to the moon, quite literally) -- but nurturing "loonshots" (which often involves a number of stumbles along the way) is how we get there. This goes beyond the trite mantra of failing fast! It is about not having "false fails" or not killing the seemingly small ideas that could lead to outsized yet unexpected outcomes, observes Safi Bahcall (physicist, ex-startup founder, and CEO of a public biotech company), author of the new book, Loonshots: How to Nurture the Crazy Ideas That Win Wars, Cure Diseases, and Transform Industries.So in this episode of the a16z Podcast -- in conversation with a16z bio general partner Vijay Pande and Sonal Chokshi -- Bahcall shares why concepts like "disruptive innovation" cause him gas; why doing market projections can sometimes be crap; and why most management books that focus on culture are b.s.Because CEOs and culture, argues Bahcall, do not control organizational behavior... but hidden incentives, "phase transitions", and specific control parameters do. So how can organizations -- of any size, big or small -- be in two states at the same time: both fluid and stable, soft and solid, with high entropy yet bound energy, and both artists and soldiers? The answer may be in a more scientific, less "squishy" framework for management at the intersection of physics and economics. Big empires always miss the small but important new ideas... can this be why?