Inside the Private Stock Market Boom: SpaceX, Anthropic, OpenAI & the Rise of Secondaries
Episode publishedPodcast: All-In with Chamath, Jason, Sa...All-In with Chamath, Jason, Sacks & Friedberg
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Everybody wants access to these private markets. Right now to discuss all of this is Kelly Rodriguez. He's a forge CEO.
We see a world where the private market opens up and is accessible to any US and global investor. There's 19 companies in the private market AI basket. These companies have grown on average 300%.
Please join us in welcoming Gavin Baker, managing partner and CIO of Atreides.
The ROI on AI has empirically, factually, unambiguously been possible. Investing is the search for truth. We welcome in Brad Gerstner. It's good to be back with you. You have a program called Invest American.
I think we have a historic moment right now to get everybody into the game of capitalism.
We have a few slides from Brad to kick this off.
You know, let's
times. Like old times. This this panel, I actually was backstage. I said, Gavin, do you know we're talking about secondaries? He's like, what do you mean? And I said, okay. So here, let's just set this up for everybody. The room's full of people who are allocators, people are looking for distributions. So this is secondary markets over the course of the last decade. This is the amount of money going into VC each year, the amount of money coming out of VC each year. The red line represents the net effect of that. Chamath, we're in like five years. Right? Where a lot more is going in than it's c
Q1 And twenty this twenty doesn't include some of the Wild West of SPVs that have been unraveled recently. People charging 10% load in fees, double carry and a lot of gray market, off market stuff. This is also having a profound impact, Gavin, on employees at these companies that I want to hear about because you've seen it up close personal with SpaceX and they have a very orderly process here. So why don't we start there? What impact is this having on the employees, Gavin? And then on the market, how orderly is this? And who are the buyers? Are the buyers the sucker at the table? Are these fa
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