“Databricks just did that massive round, right. To convert and pay the tax bill for a lot of the RSUs.”
quote is from the automated transcript, cleaned for reading:
filler sounds and stutters are removed, nothing is rephrased. names can be misheard
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More from Christian Garrett
AssertionNot yet assessed · timeframe Mar 2025
Anduril leadership frequently warns investors about fake primary allocations
“We've been long time and real investors and they have tweeted a ton about fake allocations in their primary rounds being marketed to investors.”
Christian GarrettMar 27, 2025▶ 3:38Christian Garrett (137 Ventures) on Investing and Markets
Insight
Top private companies avoid open secondary marketplaces for price discovery
“The best companies want to control their cap table. The best companies have unlimited demand. Right. And so in that essence, you don't need a broader market to have random buyers and sellers to do price discovery. Right. And so I think the best companies gener…”
Christian GarrettMar 27, 2025▶ 8:10Christian Garrett (137 Ventures) on Investing and Markets
Opinion
Unofficial secondary SPVs operate in a black hole with fraud risks
“A lot of that operates outside of that and is kind of a black hole and maybe not the best place to be in because you, one, don't collaborate with the company and then two, you don't have access to information.
Right.
And so and the third is potentially like …”
Christian GarrettMar 27, 2025▶ 4:17Christian Garrett (137 Ventures) on Investing and Markets
Opinion
Garrett dismisses secondary market trading lists as uninformed noise
“A lot of them are noise. They're not signal, you know, transactions and a lot of those transactions are uninformed buyers and uninformed sellers. As an institutional firm, we don't pay attention to them and the best companies don't either.”
Christian GarrettMar 27, 2025▶ 10:14Christian Garrett (137 Ventures) on Investing and Markets
AssertionSupported
SpaceX runs two annual tender offers totaling over $1.5 billion
“SpaceX has raised ten billion dollars in primary over its, you know, 23 years of being around as a company. They've been running, you know, two tenders annually that, you know, total like more than a billion and a half dollars a year for a long time.”
Christian GarrettMar 27, 2025▶ 5:21Christian Garrett (137 Ventures) on Investing and Markets
Insight
Percentage of holdings sold signals more than absolute dollar size
“You want to think about the two dynamics around percentage of holdings and then total dollar size, right? And those are interesting, right? Like in some sense, if you sold five million bucks, but it's half of your holdings, right? Five million bucks at a certa…”
Christian GarrettMar 27, 2025▶ 19:47Christian Garrett (137 Ventures) on Investing and Markets
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