Keep pulling the thread on Michel Del Buono.
SpaceX is rumored to be planning an IPO at a valuation of nearly $2 trillion.
A potential SpaceX IPO at a valuation near $2 trillion would be the largest in history and serve as a significant test of public market capacity.
The creation of A16 Perennial was motivated by the principals of Andreessen Horowitz, including Mark Andreessen and Ben Horowitz, feeling underwhelmed by the quality of investment advice from traditional wealth management firms.
An endowment-style portfolio with a 50-70% allocation to alternative investments typically incurs look-through fees of 3-4% per year.
Establishing a successful single-family office with a global, multi-asset class portfolio requires a balance sheet of billions of dollars to justify the high operational costs.
A16 Perennial targets clients with a minimum of $25-50 million in assets, with a primary focus on centimillionaires and billionaires.
The success of a potential large-scale SpaceX IPO will be closely watched by other large private companies as a key indicator for their own public market readiness.
The Qualified Small Business Stock (QSBS) tax exemption has increased to $15 million per trust, up from a previous $10 million.
A "dark pool" of fraudulent or fake Special Purpose Vehicles (SPVs) exists, purporting to offer shares in the private defense technology company Anduril.
Venture capital exhibits the widest dispersion of returns between the best and worst-performing managers compared to all other major asset classes.
Investing in bottom-half venture capital funds yields worse returns than simply buying a public market index ETF like the Invesco QQQ Trust (QQQ), after accounting for illiquidity and fees.
The "tape out" cost for a single advanced AI chip design is approximately $100 million.