The Exchanges

Q once a company is a business, they have product market fit, they're growing quickly, they have an underwritable financial profile, then if you're an accredited investor with access, what's the difference between investing your 25, fifty-k into that versus investing 25 or fifty-k into your favorite publicly traded company? This one just has more upside left in it. So why wouldn't you do that if you're buying public stocks anyway?

A So what you described so far is there once upon a time, it's really once upon a time, there were a bunch of venture capitalists who really tried to add value with a small number of dollars and a small number of companies, maybe to collectively a reasonable number of companies. And then if those companies succeeded, They would access the public markets. And now there's a lot more capital. There's a lot more players. There's a lot more individuals with money. But part of the reason it all works is because you do have massive amounts of capital still available at the later stage in the private markets before these companies make it to the public market. So you mentioned SoftBank, you touched on Tiger Global. What was that unique insight that allowed these firms to attract so much capital into the later stage of the private markets?

AI assessment note: “What was that unique insight that allowed these firms to attract so much capital”

Q for their LPs allowed them to immediately after the conclusion of the bankruptcy and the confirmation in 2017, two years later, they raised the largest private equity fund ever up to that time. That's a great place that I jump off there is You know, what were some of the lessons, you know, for investors in private equity and in hedge funds in those investment vehicles learned from this case?

A Yeah. I mean, it's an amazing story. And somehow, as I told you guys, somehow it's imminently readable despite the technical nature of it. Let's dive into some of those questions about what this means in the scheme of things. And so let's start with the process itself. And there's this question of what are the rules in these games? So in distressed investing, there's Legally, what you can do, and you can think about that now where there's no covenants. And then there's this question of what's the right thing to do? Etiquette. If you're playing tennis with someone and there's a ball on the court, you pick it up. It seems like some of these players just play by different rules. How does that play out less so much necessarily in Caesars, but broadly in the distressed business?

AI assessment note: “Let's dive into some of those questions about what this means in the scheme”