Rascoff: Reg A offerings are the future of pre-IPO capital raising
Spencer Rascoff · Why co-ownership changes luxury real estate (w/ Spencer Rascoff & Austin Allison) | Masters of Scale · Jun 27, 2025 · at 30:54
Spencer Rascoff, co-founder of Pacaso and former Zillow CEO, discusses Pacaso's decision to raise funding from retail investors via an SEC Regulation A offering.
0:00 / 0:14exact quote · 14.7s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“We think it's the future of capital. It's sort of capital raising at this Kind of bridge moment once you're done raising venture capital from traditional Silicon Valley type investors, but before you're publicly traded up.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Spencer Rascoff
Rascoff: Risk of potential acquirers copying startup ideas is very low
“The chances of a competitor, whether it's a big potential acquirer or even another startup, learning something from that conversation and going and replicating it is, is very low. It's not zero, but it is quite low. And the potential upside is really significa…”
Rascoff: Mortgage rate hikes were a bigger threat to Pacaso than COVID-19
“Actually, frankly, the more almost existential challenge more so than COVID really was the rise in mortgage rates. And that hit the brakes on really most real estate transactions, whole home, partial home, everywhere in between. And so managing through that se…”
Rascoff: Homeownership pushback is emotional about neighborhoods, not industry lobbying
“I think some of the public affairs issues that some other sharing economy businesses faced were more about disrupting legacy industries that had you know, lobbyists and entrenched interests. Homeownership is, is really different. It's pretty, it's quite emotio…”
Rascoff: Pacaso created financing for fractional second-home mortgages
“One of the big benefits of buying a Picasso is you can get a mortgage on just your portion of the home because Picasso created that. Financing instrument.”