A few years ago, a buddy of mine from business school invited me to a fancy dinner at his Manhattan brownstone. By the time I finished my first glass of Champagne, I’d met most of the guests — a mix of money managers, venture capitalists, and private equity heavyweights.
When it comes to making money for my readers — or saving them from losses — I love being able to say, “I told you so!” Back on June 17 th , I told Crowdability readers to sit out the SpaceX IPO frenzy.
This year has been nuts. The venture-capital world has been throwing around numbers that sound like typos: OpenAI landed a funding round worth $122 billion.
Imagine sitting around a table with some of Silicon Valley’s most powerful players — the CEO of OpenAI, a billionaire venture capitalist, the founder of a defense-tech giant. Someone at the table is lying.
There you were, scrolling through stock tickers this week, and boom — you saw SpaceX (SPCX) exploding higher. After the biggest IPO in history, Elon’s rocket company is now valued at about $2.6 trillion.
Everyone is talking about Kalshi and Polymarket, the “prediction market” platforms. But I recently came across a sobering statistic: More than 70% of users on these platforms are losing money.
A few weeks ago, Larry Fink released his annual letter to investors. As the CEO of asset-management firm BlackRock, Fink oversees more money than anyone on the planet — $14 trillion.