I like this lecture. We start reviewing and re-explaining the natural frequency & truth table ideas about basic technological and diagnostic uncertainties in the venture capitalist game. Then we sketch the game tree here, concentrating on using information sets to help us set out what the players know and don't know in the game, and what they know and don't know about what other players know and don't know..etc....Then we try to figure out : what's it reasonable to believe in a game like this? Here we use our previous ideas about player's strategies to help use our beliefs about diagnostics and technologies to help figure out what should I believe here? Naturally the answer is complicated...but the intuition is worthwhile, coz we run smack into the problem of multiple reasonable things to believe...and "bad" equilibria...all because of private information. Two examples: why men in NZ are reluctant to enter into primary care education, why career oriented women may have a tough time finding good jobs.