The Meb Faber Show

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Phil Haslett - It's a Place to Connect Interested Buyers and Interested Sellers...in Late-Stage, Pre-IPO Tech Shares | #122

E122 • Sep 19, 2018 • 59 mins

In Episode 122, we welcome investor and entrepreneur, Phil Haslett. Meb jumps in, asking Phil to tell us more about his company, Equity Zen. Phil gives us an example involving a hypothetical employee. This employee owns equity in her private company but wants some liquidity from her stock options. Equity Zen is a platform where she can sell some her shares to a private investor looking to investor in that company, even though it’s not a publicly-traded company. So, Equity Zen is a place that connect buyers and sellers of late-stage, private companies that are pre-IPO.

Key Points

EquityZen is a platform that facilitates secondary transactions in private pre-IPO companies, providing liquidity for shareholders and investment opportunities for accredited investors.
Investors considering private market investments should focus on diversifying with small bets across late-stage companies, looking for recent funding rounds, reputable venture capital backers, and understanding the company's potential to withstand competition from tech giants.
The private market investment landscape is evolving, with companies staying private longer and seeking solutions to provide liquidity for employees, which could eventually lead to more opportunities for retail investors to access alternative asset classes traditionally dominated by institutional players.

Follow Phil: Website

Resources: EquityZen Blog guide to pre-IPO investing Invest with The House: Hacking the Top Hedge Funds Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist – Feld & Mendelson Tom Tunguz blog Fred Wilson Union Squared Ventures blog The Term Sheet Newsletter Porretta Newsletter Van Simmons on The Meb Faber Show in April 2017

Speakers

Meb Faber

Host • 28%

Phil Haslett

Guest • 71%

Chapters

0:00	Introduction and guest Phil Haslett, co-founder of Equities Zen
5:59	Understanding investing in private companies with Equities Zen
14:03	Diversity of tech sectors and companies available for investment on Equity Zen's platform
16:53	The impact of market volatility and macroeconomic factors on private investing
20:10	The transition from private to public markets, state of the IPO market, and the trend of decreasing publicly traded companies
23:31	Companies' response to buying private shares and changing attitudes towards liquidity
26:39	Future of investing in private companies and redefining the accredited investor
31:25	Building a portfolio in private markets and what to look for in a company
37:11	Understanding share classes and the value of content in investing research
42:20	Expansion into other investment areas and the potential of technology in investing
46:38	Discussing successes, failures, and differences between early-stage and late-stage investing
51:33	Tax strategies for investors and understanding capital structure arbitrage
54:43	Personal investment stories and advice for young investors
57:08	Importance of compliance in investing and closing remarks
58:13	Invitation to leave a review and support the podcast

Transcript

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