Bad actors harm secondary markets by marketing fake startup access
Matt Murphy · Will Open-Source Threaten Anthropic's Business & Do Margins Matter in a World of AI | Matt Murphy · Jul 27, 2026 · at 17:42
Matt Murphy, Partner at Menlo Ventures, discusses why founders are pushing back against unauthorized secondary market SPVs.
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Save the cut (mp4) →“I think the problem is, you know, it's secondary markets, SPVs, they've just become, Too annoying and aggravating in the market to founders. And someone else is basically like, I don't want you marketing my stock. My, and I want to be the one who's figuring out who's in the cap table, who's an investor. And, you know, I think that there were a lot of people, you know, claiming they had access who would kind of round up people to invest in their SPB. And then they would try to go get access. So there's just a lot of bad actors out there.”
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