This is our Wednesday show, where we niche down to a single topic, think about a question and unpack the rest. This week, Natasha and Alex asked: Will Tiger's second act live up to its first? 

The question comes after Natasha's latest Startups Weekly column, where she looked into one example of how Tiger Global's stamp of approval is coming for the early stage. Today's conversation is a continuation of that topic, but broadened with examples, context, and of course, some jokes as well.

• Before digging into the question, we walked through some historical venture shakeups, looking specifically at Andreessen Horowitz, SoftBank and ultimately Tiger Global's own jolt to the startup ecosystem. Remember when we weren't numb to mega-funds, and due diligence was contrarian?
• Then we get into why Tiger is turning to invest in early-stage companies, now of all times (hack: listen to our episode on market re-correction for some background).
• We spoke about Tiger cutting a new check into AngelList, and the resulting window it gets. A new-ish AngelList fund has hella Tiger vibes, notably.
• There's also a conversation to be had about how Tiger's late-stage playbook scales to the early-stage, which made us talk about due diligence, ownership, and fund structures.
• And speaking of evergreen funds, here's an evergreen reminder to take advantage of code “EQUITY” when subscribing to TechCrunch+ for a hefty discount, and gratitude from your favorite trio of tech nerds.
• We somehow fit YC in too, because why not.

All told the 2022 venture capital market is shaping up to be a very different beast than what we saw in 2021, and not only because Tiger is changing up its own posture. What we saw last year might prove a high-water mark for venture for a long time to come. So, stay tuned.

Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products.