Trying to start a podcast with 4-8 of my friends

Seems like a jungle of a mess from my perspective. I really want to pull this off and am trying to find the best quality for the value in terms of tech. I honestly am still trying to decipher what tech is even needed to pull this off. Does everyone need a separate mic and headphone set? Therefore automatically making me go mixer instead of USB ? Am I best off with a camera for something like this? Just any explanation on how to pull this off without dropping a ton of money would be so appreciated.