Podcasts about Venture

Venture into the shadowy realms of power and secrecy with Already Dead, where hosts Jose Galison (@towergangjose) and Austin Picard (@theatrethugawp) dissect the intricate web of conspiracy, covert operations, and the underlying political machinations that might just be pulling the strings of our society.What to Expect: Live Listener Interaction: Call in to share your theories, ask burning questions, or discuss personal experiences related to the topics at hand. In-Depth Explorations: Each episode focuses on a different conspiracy or hidden aspect of political history, offering a platform to question and analyze what's often left unsaid. Thought-Provoking Guests: We invite individuals with insider knowledge or those who've taken the red pill to discuss topics that range from the fringe to the forefront of conspiracy culture. Critical Analysis of Current Affairs: We don't just report on events; we interpret them through the lens of parapolitics, looking for patterns and hidden agendas.Join Us: Every Tuesday at 9:30 PM ET, dive into the depths of the unknown with us. Subscribe, participate in our live call-ins, and be part of a community that seeks to understand the world beyond the surface narrative.Disclaimer: This podcast thrives on speculation, hypothesis, and the examination of alternative theories. It's meant to provoke thought and encourage personal research. Not all discussed is proven fact, but rather a call to question, explore, and understand.Warning: For those not ready to challenge their worldview, tread carefully. Once you enter the world of Already Dead, you might find that the truth is often already dead to the uninitiated. Welcome aboard, where curiosity is your guide.Please consider supporting our work- Austin's Patreon: https://www.patreon.com/c/TheUnderclassPodcastAustin's Spreaker: https://www.spreaker.com/podcast/the-underclass-podcast--6511540Austin's Rumble: https://rumble.com/user/TheUnderclassPodcastAustin's YouTube: https://www.youtube.com/@TheUnderclassPodcast#AlreadyDead #SchizoBros #DarkDivineFeminine #ClancyFamilyKillings #LindsayClancy #PostpartumPsychosis #PsychiatricOverprescription #Overmedication #Misdiagnosis #PsychotropicDrugs #EscalatingCultureWar #GenderCultureWar #UnravelingSocialFabric #VoiceofGodTechnology #MindControlManipulation #TikTokBrainRot #MedicalMalpractice #MedicalNegligence #IndianaPowerOutage #HelterSkelterBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-underclass-podcast--6511540/support.

What if uncertainty isn't something to fear or even survive, but a skill you can train and a competitive advantage you can build?Scott Stirrett has spent more than a decade helping people do exactly that. Scott is a Canadian entrepreneur, author, and the founder of Venture for Canada, a national charity that has supported over 10,000 young professionals since 2013. He's also the author of The Uncertainty Advantage, a powerful guide for navigating the future of work that argues uncertainty isn't a bug in the system. It is the system.Scott walks us through how empathy and emotional skills play starring roles in his six pillars that help build real resilience, alongside some surprising mindset shifts and practical exercises you can start using right away. We also talk about why traditional career playbooks no longer apply and how leaders and professionals can turn volatility into opportunity instead of paralysis.If you're navigating change, rethinking your career, or leading others through uncertainty, this episode offers both reassurance and a roadmap.To access the episode transcript, go to www.TheEmpathyEdge.com and search by episode title.Listen in for…The six pillars that help build real resilience and momentum in uncertain times. Seeing the opportunity in uncertainty and volatility. How to act when you don't have perfect information. Why it is so important to build your uncertainty muscles. "We don't choose what era we live in. We live in an era of rapid change. Learning to develop a positive relationship with uncertainty is one of the most important things that you can do, perhaps at any moment in human history." — Scott Stirrett Episode References: Scott's Book: The Uncertainty AdvantageAntifragile: Things That Gain From Disorder by Nassim Nicholas TalebThinking in Bets by Annie DukeMIT study on human skills that complement AI: mitsloan.mit.edu/ideas-made-to-matter/these-human-capabilities-complement-ais-shortcomingsAbout Scott Stirrett: Founder, Venture for Canada and Author, The Uncertainty AdvantageScott Stirrett is a Canadian entrepreneur, author, and the Founder of Venture for Canada (VFC), a national charity that has supported over 10,000 young professionals since 2013. Under his leadership, VFC raised $80 million and partnered with leading organizations to equip early-career Canadians with entrepreneurial skills to thrive in an uncertain world.Scott is the author of The Uncertainty Advantage, a guide for young professionals navigating the future of work, endorsed by leaders including Andrew Yang and Amanda Lang. The book draws on lessons from building VFC, emphasizing adaptability, entrepreneurial thinking, and lifelong learning.A graduate of Georgetown University's School of Foreign Service, Scott began his career at Goldman Sachs in New York. He's been recognized as a Telus LGBTQ Innovator, Ashoka Fellow, and Globe and Mail Changemaker. His commentary has appeared in The Washington Post, Forbes, The Globe and Mail, and more. He currently co-chairs the Canadian Centre for Housing Rights.Connect with Scott:The Uncertainty Advantage: scottstirrett.comX: x.com/scottstirrettLinkedIn: linkedin.com/in/scottstirrettFacebook: facebook.com/stirrettInstagram: instagram.com/scottstirrettSubstack: substack.com/@scottstirrett Connect with Maria:Get Maria's books: Red-Slice.com/booksHire Maria to speak: Red-Slice.com/Speaker-Maria-RossTake the LinkedIn Learning Courses! Leading with Empathy and Balancing Empathy, Accountability, and Results as a LeaderLinkedIn: Maria RossInstagram: @redslicemariaFacebook: Red Slice

What kind of founder walks away from a multi-billion-dollar fintech company to start building rockets?Baiju Bhatt, co-founder of Robinhood, joins Joubin Mirzadegan to talk about life after one of the most consequential companies in modern finance, and why he's now betting on Cowboy Space Corporation, an orbital infrastructure company building AI data centers that ride to space inside its own rockets."I still have that dog in me," he says.Baiju opens up about building alone for the first time in 15 years and what he learned about product-market fit while scaling Robinhood through its most chaotic years.Connect with Baiju:XLinkedInConnect with Joubin:XLinkedIn​Email: grit@kleinerperkins.comFollow Grit on LinkedInX​Learn more about Kleiner Perkins

Welcome back, WIFs.Back by popular demand, Lauren and Michelle are bringing you another mini cozy from their Bring Back the 90's series.And this time, they're going back to school.Before back-to-school shopping meant clicking a link, buying a pre-selected supply box, and checking everything off a list, there was something special about walking the aisles and picking out exactly what you wanted.In this episode, the sisters take a nostalgic trip back to 90's back-to-school season, from Venture shopping trips and Five Star notebooks to Trapper Keepers, Lisa Frank folders, smelly pens, Dr. Grip pens, eraser caps, pencil cases, and the highlighters that were somehow way more exciting than they needed to be.Then there's lunch.Capri Suns, Lunchables, Kudos bars, Gushers, Fruit by the Foot, Ecto Cooler, Dunkaroos, SnackWell's, Handy Snacks, and those classic bologna sandwiches packed with love.And because this is the 90's, there are plenty of unexpected memories along the way—including paper bag book covers, rubber cement, white-out, eraser vacuums, and the fact that we were apparently trusted with paper guillotines.Press play, get cozy, and take a walk down the back-to-school aisles with Lauren and Michelle.Because the 90's were cozy—and maybe it's time to bring a little bit of that back into our adult lives, too.Resources:⁠⁠⁠⁠A Cozy Night For Readers⁠⁠⁠⁠⁠⁠⁠⁠Follow Us!⁠⁠⁠⁠⁠⁠⁠⁠Shop Our Seasonal Candles⁠⁠⁠⁠⁠⁠⁠⁠Check Out Our Website⁠

Plus: Crypto stocks gain as bitcoin heads for best week in over two years. And Swedish heating company Nibe Industrier sees sales growth from heat pumps and data centers. Julie Chang hosts. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Proposition 40, a proposed wealth tax in California, has sparked heated debate among investors, tech founders, and billionaires. Venture capitalist Ben Narasin argues that the tax and the solutions put forward by politicians including Rep. Ro Khanna (D-CA) would harm the businesses that drive a large portion of America's economy. Teletherapy platform Talkspace is betting that AI can do more good than harm in mental healthcare. CEO Dr. Jon Cohen explains how therapists and patients are using AI in and outside of traditional therapy. Plus, Joe Kernen and Andrew Ross Sorkin discuss the latest on bitcoin's boom, Treasury Secretary Scott Bessent's debt buyback plan, and Anthropic executives expect an IPO the same size or larger than SpaceX's.   Ben Narasin - 15:31 Dr. Jon Cohen - 28:42   In this episode: Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Venture into the shadowy realms of power and secrecy with Already Dead, where hosts Jose Galison (@towergangjose) and Austin Picard (@theatrethugawp) dissect the intricate web of conspiracy, covert operations, and the underlying political machinations that might just be pulling the strings of our society.What to Expect: Live Listener Interaction: Call in to share your theories, ask burning questions, or discuss personal experiences related to the topics at hand. In-Depth Explorations: Each episode focuses on a different conspiracy or hidden aspect of political history, offering a platform to question and analyze what's often left unsaid. Thought-Provoking Guests: We invite individuals with insider knowledge or those who've taken the red pill to discuss topics that range from the fringe to the forefront of conspiracy culture. Critical Analysis of Current Affairs: We don't just report on events; we interpret them through the lens of parapolitics, looking for patterns and hidden agendas.Join Us: Every Tuesday at 9:30 PM ET, dive into the depths of the unknown with us. Subscribe, participate in our live call-ins, and be part of a community that seeks to understand the world beyond the surface narrative.Disclaimer: This podcast thrives on speculation, hypothesis, and the examination of alternative theories. It's meant to provoke thought and encourage personal research. Not all discussed is proven fact, but rather a call to question, explore, and understand.Warning: For those not ready to challenge their worldview, tread carefully. Once you enter the world of Already Dead, you might find that the truth is often already dead to the uninitiated. Welcome aboard, where curiosity is your guide.Please consider supporting our work- Austin's Patreon: https://www.patreon.com/c/TheUnderclassPodcastAustin's Spreaker: https://www.spreaker.com/podcast/the-underclass-podcast--6511540Austin's Rumble: https://rumble.com/user/TheUnderclassPodcastAustin's YouTube: https://www.youtube.com/@TheUnderclassPodcast#AlreadyDead #SchizoBros #LawofAbundance #AttitudeofGratitude #TheGreatTurningPointDebate #TurningPointDebateKayfabe #CandaceOwens #AndrewWilson #InfluencerIndustrialComplex #ScriptedFreemasonicTheatre #CharlieKirkAssassination #SophisticatedInfluenceOperation #TuckerCarlson #HunterBidenInterview #HunterBidenRebrand #DigitalMindControl #TikTokBrain #AntisemitismCensorshipBill #PedophileMikeCaruso #PedophileOccupiedGovernmentBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-underclass-podcast--6511540/support.

 Join José as he hosts another episode of the Emerging Manager series on the Delphi Podcast, sitting down with Michael Dempsey, managing partner of Compound. Michael makes the case that most venture funds being raised today are playing momentum games that won't survive contact with a real cycle, and explains why Compound has become known as one of the slowest-deploying seed funds in the US. They dive into the fallacy of founder legibility, why paying up at seed doesn't improve outcomes, and how the firm's research edge decayed the moment anyone could drop an academic paper into ChatGPT. Michael shares Compound's portfolio construction math, the thesis behind their public markets fund and the coming decade of market cap destruction, where he's investing across bio, materials, and robotics, and why the humanoid narrative is far more fragile than the market believes. Timestamps00:00 Intro01:24 Why Momentum Investing Fails in Venture05:05 Price, Legibility, and the Myth of the Obvious Founder15:10 Research as Edge and the Problem With Obviousness32:31 Portfolio Construction and Shots on Goal39:04 Bio, Materials, and the Commoditization of Intelligence43:44 Public Markets, Software Margins, and the Short Side56:58 Meta, Google, and the Mag 71:06:45 Crypto, Robotics, and Drone Warfare1:21:38 Therapy, Psychedelics, and Writing

The news that billionaire venture capitalist Josh Kushner and former Disney CEO Bob Iger are buying a controlling stake in the Los Angeles Lakers at a record-breaking $12.5 billion valuation, first reported by ESPN on Wednesday morning, came as a shock in more ways than one. The deal breaks Walter's own record for the purchase price of a professional sports team, less than a year after his $10 billion deal to take a control interest in the Lakers from the Buss family—who sold the team after 46 years—closed in October, and it once again resets the rest of the market for the rest of the NBA. This year has also included record-breaking team sale agreements in the NFL and MLB. Venture capitalist Vinod Khosla led an investor group that agreed to buy the Seattle Seahawks for $9.6 billion in August, and private equity manager José E. Feliciano's family reached a deal in May to buy the San Diego Padres for $3.9 billion. By Hank Tucker, Forbes Staff Learn more about your ad choices. Visit megaphone.fm/adchoices

S5:E264 David reviews the past week in venture and tees up Wednesday's E265 when Paul joins in a discussion of a significant milestone notched by VentureSouth, an Angel Group focused on the Southeastern Startup Ecosystem. They reached the $100M threshold of deployed capital, joining just 10 other North American Angel Groups that have reached that metric. And in the VC world, only 10% of VC funds are in this club. We'll be discussing what this means, how VS achieved that goal and review the other 10 Angel Groups that have reached the $100M threshold. (recorded 8.16.26)Support the showFollow David on X at https://x.com/DGRollingSouthConnect On LinkedIn with David at https://www.linkedin.com/in/davidgrisell/Follow Paul on X at https://x.com/PalmettoAngelConnect On LinkedIn with Paul athttps://www.linkedin.com/in/paulclarkprivateequity/We invite your feedback and suggestions at www.ventureinthesouth.com or email david@ventureinthesouth.com.

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Jeremy Moon didn't know much about the pet food business, except that he was a dog and cat lover. 

Jamie Gull is an engineering and deep tech thought leader focused on venture building, innovation, and translating aerospace-driven thinking into scalable technologies that shape the next wave of industrial and scientific advancement. Top 3 Value Bombs 1. The most successful people balance exploration with commitment; keep your opportunities open, but stay focused long enough to develop real expertise. 2. Deep tech thrives where difficult problems exist. The greatest opportunities often come from solving challenges that others avoid because they require patience, capital, and technical excellence. 3. Nothing is truly future-proof. The key to long-term success is continuously solving evolving problems and being willing to reinvent your own solutions before someone else does. Check out Jamie's website - Wave Function Ventures Sponsors HighLevel - The ultimate all-in-one platform for entrepreneurs, marketers, coaches, and agencies. Learn more at HighLevelFire.com. Nexus Install - Have a high-ticket offer? Nexus Install builds you a custom LinkedIn prospect booking system designed to generate more quality sales calls. Email JLD at John@EOFire.com to learn more.

Economic Journalist Charlie Gasparino joins Sid to discuss the Los Angeles Lakers being sold to Josh Kushner and Bob Iger for $12.5 billion, a record-breaking price, before he expands on the New York Yankees announcing a $2.6 billion financing agreement with Marc Rowan's Apollo Sports Capital in a deal touted as fueling growth at the MLB giant and keeping the Steinbrenner family in control.

This week on Swimming with Allocators, Earnest and Alexa welcome Kelli Fontaine of Cendana Capital, as she traces her path from journalism to data-driven venture investing and explains how her obsession with finding the truth shapes her work as an LP. She breaks down how Cendana builds and uses its data systems, why early-stage power laws and portfolio construction matter more than headline TVPIs, and how she balances hard data with judgment about GPs. Kelli challenges the idea that pre-seed always outperforms seed, shares why fund I and II managers are uniquely compelling, and explores trends like concentrated portfolios, deep tech, defense tech, AI-native founders, and secondaries. Also, Sidley emerging companies lawyer Michael Podolny explains that rapid growth and complexity in AI-driven startups are driving demand for globally sophisticated legal advice from day one, with a particular focus on repeat founders, control, and tax optimization through QSBS planning. Highlights from this week's conversation include: Kelli's Journalism Roots and Early Fascination with Data (0:29) Moving from Finance to Tech and Startups at RPX (2:42) Building Data Infrastructure and Dashboards at Sandana (7:07) What People Mean by the “Sandana Model” and Relationship Focus (10:31) Why Funds Ones and Twos Are Special and How GPs Evolve Over Time (15:09) Why Late-Stage AI and Mega Rounds Don't Replace Early Stage Alpha (19:30) Sponsor Segment: Sidley's Work With AI and Sophisticated Startups (21:16) Tax Optimization and QSBS Considerations for Founders and Investors (24:49) KPIs That Matter: Revenue, Customer Quality, and Go-To-Market (28:40) How Changing Graduation Rates Affect Fund One and Fund Two Diligence (30:24) How to Think About Founder Secondaries vs GP Secondaries (34:54) Portfolio Management, Write-Offs, and the Real Role of Acqui-Hires (37:13) Treating Venture Like Public and Private Equity Segments (Small vs Mega) (40:05) Frustrations With AI Hype, FOMO, and Public Perception of Tech (43:50) Closing Remarks and Reflections on Macro Conversation (45:39) Cendana Capital is a venture fund-of-funds focused on investing in seed-stage venture capital firms and partnering with managers at the earliest stages of company formation. The firm is one of the most active LPs dedicated to the seed ecosystem, with a focus on identifying and supporting differentiated early-stage venture managers. Learn more at www.cendanacapital.com. Sidley Austin LLP is a premier global law firm with a dedicated Venture Funds practice, advising top venture capital firms, institutional investors, and private equity sponsors on fund formation, investment structuring, and regulatory compliance. With deep expertise across private markets, Sidley provides strategic legal counsel to help funds scale effectively. Learn more at sidley.com. Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies.  The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only. Learn more about your ad choices. Visit megaphone.fm/adchoices

Fortune reported that several Silicon Valley schools are launching venture funds to invest in early-stage startups and recycle gains into school programs. The model raises capital from parents and alumni and operates as an evergreen vehicle with community goals. Institution-affiliated precedents include the Berkeley SkyDeck Fund sharing profits with UC Berkeley and the former Stanford-StartX Fund investing in StartX companies. Comparable student-focused efforts by Dorm Room Fund and Rough Draft Ventures show how early, networked capital can catalyze deal flow. Governance requirements include 501(c)(3) compliance, UPMIFA prudence, conflict policies, and potential reliance on the venture capital adviser exemption. Founders should diligence decision authority, follow-on reserves, rights, and publicity terms to ensure later rounds are not hindered.Learn more on this news by visiting us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Welcome to another episode of The Brand Called You! In this insightful conversation, Ashutosh Garg sits down with Hunter Hastings, Managing Partner at Bialla Venture Partners and acclaimed author of Venture Mode: How to Escape the Administration Trap by Finding and Unleashing Entrepreneurial Leaders.Hunter Hastings shares his journey from brand manager to CEO and venture investor, revealing what truly shapes great entrepreneurs and organizations. Discover why traditional business models and MBA-driven management practices may be holding companies back, the difference between value creation and value capture, and how AI is fundamentally reshaping business management and innovation.Learn actionable principles for replacing bureaucracy with entrepreneurial thinking, understand why founder-led companies can outperform professionally managed organizations, and explore what leadership looks like in the new age of business. Whether you're an aspiring entrepreneur, CEO, or future leader, this episode is packed with insights, real-world examples, and inspiration to help you unlock your organization's full potential.

Plus: Intel to offer $15 billion in common stock. And Michael Saylor's Strategy offloads bitcoin for second straight week. Alex Ossola hosts. Sign up for WSJ's free What's News newsletter. An artificial-intelligence tool assisted in the making of this episode by creating summaries that were based on Wall Street Journal reporting and reviewed and adapted by an editor. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

"Our mission is to make it easier for everybody to experience the world."From the dot-com crash to AI, Glenn Fogel has spent nearly three decades helping Booking Holdings evolve through every major technology shift while staying true to that mission.He also shares with Joubin Mirzadegan why "you're always selling," and how Booking is using AI to amplify what every employee can accomplish.Guest: Glenn Fogel, CEO of Booking HoldingsConnect with GlennLinkedInConnect with Joubin:XLinkedInEmail: grit@kleinerperkins.comFollow GritLinkedInX​Learn more about Kleiner Perkins

Enterprise AI has moved past experimentation and now has to prove its return. Ed Sim, Founder and General Partner of boldstart ventures, ranked the No. 1 seed investor in the Business Insider Seed 100 two years running, sees hundreds of AI startup pitches a year, and writes the first check into companies enterprises buy from years later. He wrote the first check into Snyk and backed Protect AI, which Palo Alto Networks acquired for more than $700 million. In this conversation, he lays out the three waves of enterprise AI adoption, why rising token costs are pushing companies toward open-weight models and their own hardware, how agent identity and access create a new attack surface, and what separates AI vendors that survive a shakeout from the ones that do not.YOU'LL DISCOVER✅ The three waves of enterprise AI: get AI running, get agents running, and the wave happening now, where ROI and tokenomics decide what survives✅ Why Ed expects dozens of models inside a single enterprise, and the choice he frames as renting intelligence versus owning it✅ How one portfolio company packaged eight GPUs, CPUs, and a model router into an appliance, routing roughly 10% of queries to the frontier labs and claiming 70% savings per year✅ Why agents should be granted access at runtime that expires when the task ends, so a breach's blast radius stays contained to one narrow authorization✅ Cost per outcome as the yardstick: the human doing the task, the AI doing the task, and the human assisted by AI, applied first to discrete work like coding and customer support✅ A 57-step insurance claims process where the AI was correct 98% of the time and the humans 85%, a gap only visible because every step was recorded✅ The real difference between open source and open weight models, and why most of Ed's startups now build on open weight models under the hood✅ Why he argues offense is the new defense, and what the Black Hat sandbox escape means for CISOs planning autonomous defense⏱️ TIMESTAMPS0:00 Introduction0:36 Three waves and the ROI test3:06 Many models and where startups win10:32 Who owns access, context, and evaluations17:21 It's the people, not the architecture20:04 Measure the outcome, then cut the cost28:14 Buying talent and changing culture33:05 Systems of record versus headless agents36:31 Venture money pivots to robotics and chips40:11 Open weights and owning your intelligence44:44 Autonomous attacks need autonomous defense51:32 Judging vendors and earning enterprise trust

What does it really mean to be all in with Jesus and His Church?In week one of our new All In series, Pastor Morgan looks at Acts 2 and the early church to show us what a devoted life actually looks like. Being all in isn't about checking boxes, adding more to your schedule, or trying to earn God's love. It's about intentionally arranging your life around Jesus and participating in the family He is building.Through the picture of the early church, we're reminded that healthy faith is built through faithful rhythms over a lifetime. We gather, grow, serve, belong, and take responsibility for the mission, not to earn grace, but because grace has already been given to us.The question isn't, “How can I do more?” It's simply: Jesus, what are You inviting me to step into next?Timestamps0:00 Welcome0:18 Introducing the All In Series0:38 The Apple Watch Illustration4:06 What Your Rhythms Reveal4:56 What Does It Mean to Be All In?6:23 Meaningful Engagement in the Church7:40 Jesus' Picture of the Church8:39 A Devoted Church9:08 Acts 2 and the Early Church12:01 “What Does This Mean for My Life?”13:36 How Strangers Became Family14:27 “They Devoted Themselves”16:01 What Devotion Really Means17:21 Attendance vs. Devotion18:10 The Greatest Threat Is Drift19:15 Healthy Churches Don't Happen by Accident21:18 Faithful Rhythms Over a Lifetime21:43 Direction, Not Perfection22:24 Keep Leaning Toward Jesus23:08 Arranging Your Life Around Jesus24:28 Grace Comes First, Devotion Comes Second25:15 Responding to God's Love26:54 What Is Shaping Your Life?27:13 Everyone Is Being Discipled by Something28:03 The All In Track29:28 What Devoted People Do30:17 A Picture of the Early Church31:13 What Koinonia Really Means31:51 Church Is a Family You Belong To32:35 The Five Rings32:58 Participate Weekly33:37 Join a Group or Class34:18 Serve on a Team35:00 Become an Owner35:44 Am I Fully Participating?36:35 Just Take One Step36:52 Which Ring Have You Stopped Closing?37:51 Thank You to Those Who Are All In38:20 Devotion Is a Daily Choice39:01 Which Ring Is Jesus Inviting You to Close?39:27 When the Church Participates, the World Notices39:51 Closing Prayer41:09 Next Steps42:37 Special Spokane Fire Relief Offering

S5:E262 David reviews the past week in Venture and previews E263 on Wednesday 8.12.26 with Paul when we'll be offering up a timely episode on ‘Financial Downturns' and how investors can plan around them while the champagne is still flowing. (recorded 8.9.26)Support the showFollow David on X at https://x.com/DGRollingSouthConnect On LinkedIn with David at https://www.linkedin.com/in/davidgrisell/Follow Paul on X at https://x.com/PalmettoAngelConnect On LinkedIn with Paul athttps://www.linkedin.com/in/paulclarkprivateequity/We invite your feedback and suggestions at www.ventureinthesouth.com or email david@ventureinthesouth.com.

“By operating in secrecy, they're able to avoid or evade accountability — and, in many instances, engage in anticompetitive behavior or even fraud.” — Renée M. Jones on unicorns Twelve years ago there were 39 unicorns — private companies worth a billion dollars or more. Today there are over 1,400, collectively valued above $7 trillion, with the twin beasts of Anthropic and OpenAI at the front of the herd, driving the entire American economy. A good thing, surely? Not according to Renée M. Jones, the SEC's chief regulator of corporate finance from 2021 to 2023 and author of Untamed Unicorns: Why Startup Finance Is Broken and How to Fix It. The former SEC big game warden worries that this stampede of wild unicorns might be driving the entire American economy off a cliff. Her problem isn't that these private companies exist. It's that we know almost nothing about them. That's because of changes in the law since the Nineties that have lifted the hundred-investor cap on private funds, thereby enabling them to mushroom from under $1 trillion to $17 trillion. Add secondary markets where insiders quietly cash out, and the IPO becomes optional. And so we know almost nothing about companies like Anthropic and OpenAI with private valuations in the hundreds of billions of dollars. The result is what Jones calls the founder-friendly model of Facebook, Uber or Airbnb. With super-voting shares at ten votes apiece, founders effectively choose their own bosses, thereby stripping investors of the power to discipline anyone. Think Travis Kalanick and Mark Zuckerberg. Think Theranos, WeWork and FTX. Unicorns are named, of course, for their impossibility. Not so long ago, nobody could imagine a private company worth more than a billion dollars. However, with $7 trillion now on the table, Jones is concerned about the health of the American startup economy. On the brink of the OpenAI and Anthropic IPOs, I fear Renée Jones might be right about the dangers of a real crash triggered by the stampede of these mythical creatures. Jurassic Park is now playing in Silicon Valley. Pass the popcorn. Five Takeaways •       The $7 Trillion Secret. The unicorn was named for its rarity: 39 existed twelve years ago. Today there are more than 1,400, worth over $7 trillion — roughly 1,100 in America, nearly 300 in China — and the biggest of them shape the economy while disclosing essentially nothing. That is Jones' target: not the billion-dollar valuations but the secrecy. A billion-dollar private company faces neither the disclosure rules nor the governance requirements of a public company its size, which means accountability arrives only by accident — a scandal, a frustrated investor, a whistleblower calling a reporter. Everything else stays dark.•       How the IPO Died. Startups once went public within five to seven years, for two reasons: growth capital lived in public markets, and the 500-shareholder rule forced large private companies to register — it's reportedly why Google and Facebook held their IPOs at all. Both reasons were legislated away. NSMIA (1996) uncapped private funds, whose assets exploded from under $1 trillion to $17 trillion; the JOBS Act (2012) moved the trigger to 2,000 shareholders with employee shares exempt; and secondary markets — Forge Global, Nasdaq Private Market, EquityZen — let insiders cash out without a prospectus. The IPO became a liquidity event rather than a necessity. Only AI's bottomless capital hunger, Jones notes, is pushing OpenAI and Anthropic toward the public markets at all.•       Founders Choosing Their Bosses. The founder-friendly model gives startup founders super-voting shares — ten votes to one — letting them control the board that supposedly controls them. Venture capitalists lost their traditional power to discipline or dismiss a misbehaving founder: Uber's investors, lacking the votes to oust Travis Kalanick, had to stage a coup via press leak. And the VCs are conflicted anyway — exposing fraud destroys the exit they're invested in. Jones' answer to the Google-and-Facebook counterargument is historical: dual-class structures were invented at those companies precisely to coax their founders into IPOs, and they now arrive by the second or third funding round — so the governance rot starts earlier and, as Zuckerberg demonstrates, persists indefinitely after the public offering.•       The Fraud Files — and the Social Bill. FTX. Theranos, which hid parts of its lab from inspecting regulators. WeWork, whose IPO filing finally told the truth about the spending and self-dealing — whereupon the public refused to buy, the company limped through a SPAC into bankruptcy, and employees who had borrowed money to exercise options and pay taxes were left holding worthless paper. (The VC money lost, Jones notes, is substantially public pension money anyway.) Beyond the frauds lies the social bill of the below-cost blitzscale: taxi drivers destroyed and then prices raised; passengers assaulted under lax background checks; Airbnb's uncollected occupancy taxes, underinvested security, and name-based discrimination. A culture of outrunning the law, Jones argues, gets baked in — and firms powerful enough simply change the law, as Uber and Lyft did to driver-classification rules in California and Massachusetts.•       Not Teddy — Franklin. Asked whether the coming reckoning demands a new Teddy Roosevelt — Casey Michel's prescription on this show days earlier — Jones reaches a generation later: Franklin's New Deal securities acts of 1933 and 1934, which made disclosure the price of other people's money and worked for ninety years. Since the 1980s the architecture has been chipped into optionality, and the SEC is now dismantling Sarbanes-Oxley and Dodd-Frank protections while deregulating public markets too. Her remedies: disclosure to employees paid in options they cannot value, and disclosure in the largest private offerings — because investors of any sophistication cannot make responsible decisions while investing blind. Andrew's closing verdict: I hope she's wrong. I suspect she's right. About the Guest Renée M. Jones is Professor of Law and Dr. Thomas F. Carney Distinguished Scholar at Boston College Law School, where she has taught corporate and securities law for nearly a quarter century. From 2021 to 2023 she served as Director of the Division of Corporation Finance at the U.S. Securities and Exchange Commission — the nation's chief regulator of capital formation. A graduate of Princeton University and Harvard Law School, she is the author of Untamed Unicorns: Why Startup Finance Is Broken and How to Fix It (Harvard University Press, August 4, 2026). References: •       Untamed Unicorns: Why Startup Finance Is Broken and How to Fix It by Renée M. Jones (Harvard University Press, August 4, 2026). Jennifer Taub: “This essential book, replete with details and drama.”•       The National Securities Markets Improvement Act (1996) and the JOBS A...

Modern Animal's acquisition by Chewy has become one of the most significant and debated developments in veterinary medicine.In this episode, Dr. Christie Long joins Dr. Brianna Armstrong to share her unconventional journey from software and operations to veterinary medicine and eventually becoming Chief Medical Officer of Modern Animal. Dr. Long explains the original vision behind Modern Animal, the challenges of scaling its technology-enabled and membership-based model, and the lessons the company learned while expanding beyond California.Dr. Long also discusses the financial realities of building a venture-backed veterinary company, why the fundraising environment became more difficult, and what led Modern Animal to join Chewy. Dr. Armstrong and Dr. Long address concerns surrounding corporate consolidation, vertical integration, pharmacy, insurance, pricing, and what Chewy's expanding healthcare ecosystem could mean for independent veterinary hospitals. Dr. Long also responds to the public reaction surrounding the acquisition and explains why personal relationships may remain independent practices' greatest competitive advantage.This is a candid conversation about entrepreneurship, culture, scale, ownership, and what the Modern Animal and Chewy partnership could signal for the future of veterinary medicine.Key Takeaways- The hardest part of building a veterinary company is not necessarily building the hospitals. It is creating jobs, career paths, leadership systems, and a culture that talented people want to join.- Growth exposes assumptions. Modern Animal's rapid success in Southern California did not automatically translate into other markets, forcing the company to rethink its branding, membership options, marketing, and accessibility.- Venture-backed growth creates a race against time. Companies must prove their model, reach meaningful scale, and attract additional capital before their financial runway ends.- Scale and independence are not the only two options. Christie views the acquisition as a way to access capital, talent, technology, and customers that could allow Modern Animal to pursue ideas it could not accomplish alone.- Independent practices still have a major advantage. Personal relationships and meaningful human connection remain difficult for any large organization to standardize or scale.- The future of veterinary medicine should not be framed only as corporate versus private. The more important questions may be who makes the decisions, how teams are treated, whether medical quality is protected, and whether the business creates genuine value for patients, clients, employees, and the profession. About Dr. Christie LongDr. Christie Long is a veterinarian, builder, and Chief Medical Officer of Modern Animal. Before entering veterinary medicine, she worked in software development, project management, and operations. Her career has included clinical practice, veterinary telehealth, corporate veterinary development, and the creation and expansion of Modern Animal's technology-enabled veterinary hospitals.Through her work, Christie has focused on improving the veterinary experience for patients, clients, and the people delivering care. She now enters the next chapter of that work following Modern Animal's acquisition by Chewy.ConnectLearn more about Modern Animal: https://www.modernanimal.com/Connect with Dr. Christie Long: https://www.linkedin.com/in/christie-long-dvm-b4b51a117/Follow Choose People Love Pets: If you enjoyed this episode, make sure to subscribe, leave a review, and share it with someone who needs to hear it.Follow for more: FB: ⁠https://www.facebook.com/profile.php?id=61556480229406&mibextid=LQQJ4d⁠ IG: ⁠https://www.instagram.com/choosepeoplelovepets?igsh=MTVzZjc4ZHE4MWd2NQ%3D%3D&utm_source=qr⁠ LI: ⁠https://www.linkedin.com/company/choose-people-love-pets/

Multicoin Capital's Shayon Sengupta on why crypto is the most underpriced opportunity in tech, the firm's $319 HYPE base case, Solana vs Hyperliquid, and whether DePIN is dead.In one of his first interviews since being promoted to General Partner & Co-Head of Venture, Shayon joins Connor in New York to explain why Multicoin recommitted to crypto while peer funds expand into AI and robotics. They cover the two forces he believes the market is mispricing (infrastructure maturity and regulatory clarity), the everything exchange thesis behind Hyperliquid, why dual token-equity structures fail, the coming financialization of compute, and a candid Helium post-mortem. On DePIN: "You can call me delusional if you want. We are even stronger believers right now."Timestamps:00:00 - Cold Open00:42 - The Pod Returns with a Bang01:38 - What Changed Since the March Promotion03:25 - Inside Multicoin: Tushar, Spencer, Hedge Fund vs Venture06:08 - Favorite Memory: Breakpoint 2021, SOL at $25009:17 - Lessons from Three Cycles13:38 - AI in 2026 Is Crypto in 202114:19 - Why Multicoin Recommitted to Crypto18:35 - The Regulatory Unlock the Market Is Mispricing21:47 - Is Decentralization Still a Core Tenet?24:49 - Token Holder Rights and the Revenue Meta28:16 - The HYPE Thesis: $319 Base Case, the Everything Exchange30:53 - Are 99% Buybacks the New Standard?33:10 - Why Dual Token-Equity Structures Go to Zero37:33 - Solana vs Hyperliquid: Spot vs Perps42:10 - Request for Startups: Financializing Compute46:30 - Shayon Flips the Mic: Is AI Topping?48:53 - The Four-Year Cycle and Where the Bottom Is51:46 - Where the Next Bull Market Flows Go53:08 - Is DePIN Dead?56:40 - The Helium Post-Mortem59:14 - GEODNET, Grass, and DePIN's Next Five Years01:01:45 - Bear Market Wisdom: "Founders Remember"Follow Shayon: https://x.com/shayonsenguptaFollow Multicoin Capital: https://x.com/multicoinFollow Connor: https://x.com/richhomieconFollow Proof of Coverage: https://x.com/Proof_CoverageProof of Coverage is tech's creative agency. We make launch videos, brand films, founder stories, and event recaps for teams like Kalshi, MoonPay, and Solana.Work with us: https://proofofcoverage.xyzAlthough our guest is a General Partner of a registered investment adviser, nothing in this podcast should be considered an offer of Multicoin's investment advisory services or should otherwise be confused for investment, tax, legal or other financial advice. The hosts and guest, and the firms they represent, may hold positions in the companies and tokens mentioned in this episode and stand to gain in the event that the price of the tokens increase.  Multicoin's HYPE valuation report discussed in this podcast can be found as a link in the show notes.  The report includes important disclosures concerning the data and assumptions by Multicoin discussed today.Multicoin's Hype Analysis and Valuation report can be found HERE. The report includes important disclosures concerning the data and assumptions by Multicoin discussed today.Multicoin and the host may have interests in companies and tokens mentioned during the episode.

Entertainment reporter Peter Ford joined Ross Stevenson and Russel Howcroft to discuss the latest news in the entertainment world.See omnystudio.com/listener for privacy information.

Aujourd'hui, c'est une rediffusion de l'épisode Finscale, dans lequel je recevais Mark Kepeneghian, fondateur de Lise (anciennement Kriptown), pour revenir sur huit années d'un parcours hors norme : la création d'une nouvelle bourse européenne pensée pour les PME, bâtie sur la technologie DLT et un cahier réglementaire entièrement inédit.Nous avons parlé :De la genèse de Kriptown en 2017, née de l'intuition que la technologie Ethereum allait transformer durablement les infrastructures de marché.De l'obtention du statut PSAN en 2020–2021, qui a permis de lancer les premières opérations en actifs numériques pour financer startups et PME.De la vision inchangée depuis le départ : construire une véritable bourse nouvelle génération, malgré l'absence de cadre réglementaire à l'époque.De l'arrivée du régime européen “DLT Pilot Regime” et de l'agrément DLT TSS, qui permet à Lise de réunir en interne bourse et dépositaire central de titres, avec un règlement-livraison instantané sans intermédiaires.De leur positionnement unique sur la liquidité : un marché secondaire intégré, permettant aux investisseurs d'acheter-revendre rapidement et aux émetteurs de trouver un financement plus efficace.De la création d'analyses indépendantes semestrielles neutres pour les PME grâce à un partenariat avec Valutico, afin de résoudre le manque d'information et de stimuler la liquidité.De la volonté de rediriger l'épargne vers l'économie réelle, en facilitant l'accès des PME au marché et en simplifiant le parcours d'IPO jusqu'à 12 millions d'euros.Un échange, qui montre comment Lise entend transformer le post-marché, simplifier la chaîne d'intermédiation et redonner aux PME un accès transparent, rapide et efficace au financement coté.En fin d'épisode, la recommandation de Marc :Tous les épisodes Finscale mais en particulier celui avec Delphine d'Amarziti d'Euronext, le précédent épisode sur Kriptown, et l'épisode consacré à Spiko Glossaire des acronymes pour faciliter la compréhension de l'épisode:PSAN – Prestataire de Services sur Actifs Numériques : Statut réglementaire français (AMF) permettant à une entreprise d'offrir des services liés aux crypto-actifs, comme l'achat/vente, la conservation ou l'échange. DLT – Distributed Ledger Technology : Technologie de registre distribué (dont la blockchain fait partie). Elle permet de stocker et transférer des données ou des titres de manière transparente, sécurisée et sans intermédiaire central. DLT TSS – DLT Trading and Settlement System : Agrément européen du DLT Pilot Regime. Il autorise un acteur à combiner dans une seule plateforme les fonctions de marché réglementé (bourse) et de dépositaire central (règlement-livraison), avec exécution quasi instantanée.Liens utiles :Marc Kepeneghian: https://www.linkedin.com/in/kepeneghian/ Lise : https://lise.comValutico: https://valutico.com/***************************Finscale, c'est bien plus qu'un podcast. C'est un écosystème qui connecte les acteurs clés du secteur financier à travers du Networking, du coaching et des partenariats.

What separates lasting winners from everyone chasing the next trend? This week, we dig into why specialization may be the biggest edge in venture investing as crypto, AI, and traditional finance increasingly converge. We discuss venture mandates, stablecoin competition, Circle's earnings, Cloudflare's agent wallets, and why reputation compounds faster than capital. Enjoy! TIMESTAMPS: 00:00 Intro 04:05 Crypto Venture Expands Beyond Crypto 09:20 Can Crypto Funds Go Generalist? 16:06 The Hidden Cost Of Dilution 22:43 Crypto Venture Enters Hard Mode 28:39 Ads (Peaq) 29:25 Cloudflare Bets On Agent Wallets 41:04 Is Circle Stock Mispriced? 53:04 Western Union Goes Onchain 01:02:13 Watches And Content Picks 01:09:01 Amazon Discovery Rewrites History 01:11:29 DAS Asia And London Preview Robots will soon outnumber humans onchain. peaqOS turns them into a new trusted liquid asset class, with yield tied to real-world workloads. It gives robots all they need to do business on any chain — and lets humans earn from automation. Explore the Machine Economy: https://peaq.xyz FOLLOW THE SHOW › Empire – https://x.com/theempirepod › Jason – https://x.com/jasonyanowitz › Santi – https://x.com/santiagoroel › Rob – https://x.com/HadickM › Telegram – https://t.me/+CaCYvTOB4Eg1OWJh › Blockworks – https://x.com/Blockworks EVENTS › Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November 10-11th https://blockworks.com/events DISCLAIMER Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

A Trump-linked cryptocurrency mining company, American Bitcoin, disclosed Monday that it settled a Justice Department allegation accusing it of improperly obtaining a pandemic relief loan, agreeing to pay millions of dollars as it omitted the settlement from its positive earnings narrative. Read the full story on Forbes: https://www.forbes.com/sites/antoniopequenoiv/2026/08/04/trump-linked-bitcoin-venture-reached-25-million-settlement-over-improperly-obtained-loan-allegation/ Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of the Crypto 101 Podcast, Spencer Applebaum, General Partner & Co-Head of Venture at Multicoin Capital, joins from the Out East Summit to explain how Multicoin approaches crypto investing across liquid tokens, venture, and crypto-related equities. He breaks down why the firm remains fully focused on crypto while many peers chase AI and robotics.Check out Omaha Steaks and use my code BEEF for a great deal: https://www.omahasteaks.comCheck out Quince: https://quince.com/CRYPTO101Check out Shopify: https://shopify.com/crypto101Check out ShipStation and use my code crypto for a great deal: https://www.shipstation.comCheck out NPR: https://npr.orgGet my #1 altcoin pick for this month.Get immediate access to my entire crypto portfolio for just $1.00 today! Get your FREE copy of "Crypto Revolution" and start making big profits from buying, selling,Get immediate access to my entire crypto portfolio.. just $1.00 today! Go here to get access: https://www.crypto101insider.com/cryptnation-directm6pypcy1?utm_source=Internal&utm_medium=YouTube&utm_content=Podcast&utm_term=20250916Get your FREE copy of "Crypto Revolution: Your Guide To The Future of Money". In this book, I reveal how to make (and keep) a fortune during this crypto bull run! http://www.cryptorevolution.com/free?utm_source=Internal&utm_medium=YouTube&utm_content=Podcast&utm_term=20250916Chapters00:00 - Intro01:25 - Multicoin Capital's crypto-only investment thesis03:00 - Why public research helped Multicoin grow05:30 - Liquid hedge fund vs venture investing strategy07:10 - Tokens vs equity in crypto projects09:40 - Clarity Act, CFTC, SEC, and regulatory momentum12:40 - How Multicoin thinks about long-term crypto investing14:00 - Hyperliquid, Solana, Robinhood, and Zcash positions17:10 - Why Apollo buying Morpho matters20:45 - Digital asset treasury companies and MicroStrategy22:40 - What could restart the crypto bull marketSubscribe to YouTube for Exclusive Content:https://www.youtube.com/@crypto101podcast?sub_confirmation=1Follow us on social media for leading-edge crypto updates and trade alerts:https://twitter.com/Crypto101Podhttps://instagram.com/crypto_101*This is NOT financial, tax, or legal advice*Boardwalk Flock LLC. All Rights Reserved  ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬Fog by DIZARO https://soundcloud.com/dizarofrCreative Commons — Attribution-NoDerivs 3.0 Unported — CC BY-ND 3.0 Free Download / Stream: http://bit.ly/Fog-DIZAROMusic promoted by Audio Library https://youtu.be/lAfbjt_rmE8▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬Our Sponsors:* Check out Omaha Steaks and use my code BEEF for a great deal: https://www.omahasteaks.com* Check out Quince and use my code quince.com/CRYPTO101 for a great deal: https://www.quince.com* Check out Scribe and use my code scribe.how/CRYPTO101 for a great deal: https://scribe.com* Check out ShipStation and use my code crypto for a great deal: https://www.shipstation.com* Check out Shopify and use my code shopify.com/crypto101 for a great deal: https://www.shopify.comAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Venture into the shadowy realms of power and secrecy with Already Dead, where hosts Jose Galison (@towergangjose) and Austin Picard (@theatrethugawp) dissect the intricate web of conspiracy, covert operations, and the underlying political machinations that might just be pulling the strings of our society.What to Expect: Live Listener Interaction: Call in to share your theories, ask burning questions, or discuss personal experiences related to the topics at hand. In-Depth Explorations: Each episode focuses on a different conspiracy or hidden aspect of political history, offering a platform to question and analyze what's often left unsaid. Thought-Provoking Guests: We invite individuals with insider knowledge or those who've taken the red pill to discuss topics that range from the fringe to the forefront of conspiracy culture. Critical Analysis of Current Affairs: We don't just report on events; we interpret them through the lens of parapolitics, looking for patterns and hidden agendas.Join Us: Every Tuesday at 9:30 PM ET, dive into the depths of the unknown with us. Subscribe, participate in our live call-ins, and be part of a community that seeks to understand the world beyond the surface narrative.Disclaimer: This podcast thrives on speculation, hypothesis, and the examination of alternative theories. It's meant to provoke thought and encourage personal research. Not all discussed is proven fact, but rather a call to question, explore, and understand. Warning: For those not ready to challenge their worldview, tread carefully. Once you enter the world of Already Dead, you might find that the truth is often already dead to the uninitiated. Welcome aboard, where curiosity is your guide.Please consider supporting our work- Austin's Patreon: https://www.patreon.com/c/TheUnderclassPodcastAustin's Spreaker: https://www.spreaker.com/podcast/the-underclass-podcast--6511540Austin's Rumble: https://rumble.com/user/TheUnderclassPodcastAustin's YouTube: https://www.youtube.com/@TheUnderclassPodcast#SchizoBros #AlreadyDead #MoroccoMigrantCrisis #CeutaInvasion #WeaponizedMigration #SorosStrategyofTension #EuropeanUnion #InternationalRedCross #NGOIndustrialComplex #IsraeliSecurityPartner #DisputedSpanishTerritory #SpainsCeutaEnclave #OperationOrchid #MurderofMarkTildesley #OperationFernbridge #ElmGuestHouseAffair #ChauffeurConnection #JimmySavile #TheDirtyDozen #NorthFoxIslandBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-underclass-podcast--6511540/support.

Venture into the shadowy realms of power and secrecy with Already Dead, where hosts Jose Galison (@towergangjose) and Austin Picard (@theatrethugawp) dissect the intricate web of conspiracy, covert operations, and the underlying political machinations that might just be pulling the strings of our society.What to Expect:Live Listener Interaction: Call in to share your theories, ask burning questions, or discuss personal experiences related to the topics at hand.In-Depth Explorations: Each episode focuses on a different conspiracy or hidden aspect of political history, offering a platform to question and analyze what's often left unsaid.Thought-Provoking Guests: We invite individuals with insider knowledge or those who've taken the red pill to discuss topics that range from the fringe to the forefront of conspiracy culture.Critical Analysis of Current Affairs: We don't just report on events; we interpret them through the lens of parapolitics, looking for patterns and hidden agendas.Join Us: Every Tuesday at 9:30 PM ET, dive into the depths of the unknown with us. Subscribe, participate in our live call-ins, and be part of a community that seeks to understand the world beyond the surface narrative.Disclaimer: This podcast thrives on speculation, hypothesis, and the examination of alternative theories. It's meant to provoke thought and encourage personal research. Not all discussed is proven fact, but rather a call to question, explore, and understand. Warning: For those not ready to challenge their worldview, tread carefully. Once you enter the world of Already Dead, you might find that the truth is often already dead to the uninitiated. Welcome aboard, where curiosity is your guide.Please consider supporting my work- Patreon- https://www.patreon.com/nowayjose2020Only costs $2/month and will get you access to episodes earlier than the public No Way, Jose! Rumble Channel- https://rumble.com/c/c-3379274 No Way, Jose! YouTube Channel- https://youtube.com/channel/UCzyrpy3eo37eiRTq0cXff0gMy Podcast Host- https://redcircle.com/shows/no-way-joseApple podcasts- https://podcasts.apple.com/us/podcast/no-way-jose/id1546040443Spotify- https://open.spotify.com/show/0xUIH4pZ0tM1UxARxPe6ThStitcher- https://www.stitcher.com/show/no-way-jose-2Amazon Music- https://music.amazon.com/podcasts/41237e28-c365-491c-9a31-2c6ef874d89d/No-Way-JoseGoogle Podcasts- https://www.google.com/podcasts?feed=aHR0cHM6Ly9mZWVkcy5yZWRjaXJjbGUuY29tL2ZkM2JkYTE3LTg2OTEtNDc5Ny05Mzc2LTc1M2ExZTE4NGQ5Yw%3D%3DRadioPublic- https://radiopublic.com/no-way-jose-6p1BAO Vurbl- https://vurbl.com/station/4qHi6pyWP9B/Feel free to contact me at thelibertymovementglobal@gmail.com#SchizoBros #AlreadyDead #MoroccoMigrantCrisis #CeutaInvasion #WeaponizedMigration #SorosStrategyofTension #EuropeanUnion #InternationalRedCross #NGOIndustrialComplex #IsraeliSecurityPartner #DisputedSpanishTerritory #SpainsCeutaEnclave #OperationOrchid #MurderofMarkTildesley #OperationFernbridge #ElmGuestHouseAffair #ChauffeurConnection #JimmySavile #TheDirtyDozen #NorthFoxIsland

What is the baptism of the Holy Spirit, and is it still for believers today?In the final message of our More series, Pastor Jared Ming walks through Scripture to explain the baptism of the Holy Spirit, the gift of speaking in tongues, and why God desires every believer to experience the fullness of His Spirit. Through biblical teaching and personal stories, this message reminds us that God always has more for those who are hungry for Him.Whether you're exploring this topic for the first time or looking to grow deeper in your walk with God, this message will encourage and challenge you to pursue everything God has for your life.Timestamps0:00 Welcome0:20 Introduction2:12 Continuing the More Series3:13 God's Gift for Every Believer5:12 What Is the Baptism of the Holy Spirit?6:37 Speaking in Tongues Explained8:08 Why Would God Give Us a Spiritual Language?9:17 You Don't Have to Speak in Tongues to Be a Christian12:44 Is the Baptism of the Holy Spirit for Today?16:26 Why the Early Church Encouraged Every Believer to Receive It21:33 "There's More" – The Snickers Pie Illustration22:24 Four Benefits of the Baptism of the Holy Spirit24:01 A Powerful Missionary Story28:09 Praying in the Spirit Builds You Up29:14 Praying the Perfect Will of God30:26 A Story of God's Protection Through Prayer34:30 Power to Share Your Faith35:24 A Method for Praising God36:14 The Holy Spirit Speaks Through You, Not for You41:01 Invitation to Follow Jesus44:43 Prayer to Receive More of the Holy Spirit47:39 Pursue More of God48:24 Revival Night InvitationIf this message encouraged you, be sure to like, subscribe, and share it with someone who needs it. We'd love to have you join us in person at Venture Church as we continue pursuing more of what God has for us.

S5:E260 David reviews the past Week In Venture and setups his interview with Emily Morris, CEO of Emrgy, a startup I first invested into in 2016. Emrgy is focused on harnessing water infrastructure into distributed renewable energy microgrids, an elegant solution to growing power demand. (recorded on 7.31.26)Support the showFollow David on X at https://x.com/DGRollingSouthConnect On LinkedIn with David at https://www.linkedin.com/in/davidgrisell/Follow Paul on X at https://x.com/PalmettoAngelConnect On LinkedIn with Paul athttps://www.linkedin.com/in/paulclarkprivateequity/We invite your feedback and suggestions at www.ventureinthesouth.com or email david@ventureinthesouth.com.

In this episode, I sit down with Taylor Black, who leads AI and venture ecosystem work in Microsoft's Office of the CTO and brings a deep “better-formed humans” conviction to the AI conversation. We draw a hard line between intelligence (statistical knowing) and insight—where a human knower makes the categorical leap to “this is true,” what Taylor calls grasping the “virtually unconditioned.” We talk about how LLMs can pattern experience to help us reach insight but can't replace judgment, and why venture building should be anthropology-first: every product ships an implicit view of the human person. We cover the risk of using AI as an oracle that shortcuts productive struggle (especially in education), the importance of humility and sustaining the tension of inquiry for product-market fit, and Taylor's “cold storage” idea—using AI as a context engine to shelve, monitor, and revive ventures when conditions change. We close on the key builder question: not what can we build, but what ought we build?02:08 Intelligence vs Insight02:58 Statistical Knowing05:02 Virtually Unconditioned09:02 Using AI Without Outsourcing Judgment11:39 Formation in Venture Building14:19 Anthropology First Product Design17:56 Hard Rules for Human Flourishing18:53 What Ought We Build21:20 Humility and Idea Flow Playbooks24:19 Probabilistic Products and Implicit Anthropology28:48 AI as Oracle in Education34:29 Cold Storage for Venture IdeasConnect with Taylor: • https://substack.com/@pourbrew• https://www.linkedin.com/in/blacktaylor/ • https://leonum.catholic.edu/• https://innovate.pourbrew.me/Connect with Raul: • Work with Raul: https://dogoodwork.io• Free Growth Resources: https://dogoodwork.io/resources• Connect with Raul on LinkedIn (DMs open): https://www.linkedin.com/in/dogoodwork/ 

Carlos Falcón: Rebuilding the Insurance Core for AI, Venture Scouting and the Frontier Firm Insurance does not have an innovation shortage. It has an absorption problem. In this episode of Scouting for Growth, Sabine VanderLinden sits down with Carlos Cendra Falcón, Scouting and Investment Lead at MAPFRE Open Innovation, to explore one of the most pressing questions facing insurers today: can the core of the institution actually absorb the intelligence, ventures, platforms and partnerships being scouted around the world? Carlos brings a pragmatic perspective from inside one of the world's leading insurance groups. Having helped evaluate more than 2,500 startups and accelerate around forty into enterprise integration, he understands that innovation is not about finding exciting technology—it's about identifying capabilities that solve meaningful business problems and can be embedded into a complex global insurer. As AI reshapes discovery, distribution, underwriting, and customer interaction, insurers face a deeper transformation than digitalization alone can provide. Hybrid distribution models, machine-to-machine commerce, embedded insurance, and intelligent agents are changing how insurance is bought, sold, and delivered. Success will depend less on adding new technologies and more on rebuilding the organizational foundations that allow innovation to scale. This conversation is essential listening for CEOs, COOs, Chief Innovation Officers, venture leaders, product executives and insurance decision-makers navigating the shift from digital experimentation to AI-enabled enterprise transformation. KEY TAKEAWAYS Innovation is no longer the constraint facing insurance. The real challenge is whether our organizations are capable of absorbing innovation in a way that creates lasting value. Carlos reminded me that partnerships alone cannot transform an insurer if the underlying organization lacks the architecture, governance, and operating model needed to integrate them. Before looking outward for the next breakthrough, leaders need to strengthen the institutional core that will allow innovation to scale. I was particularly struck by Carlos' reframing of venture scouting. Rather than acting as a matchmaking exercise between startups and business units, scouting should become a strategic intelligence capability. Its purpose is to detect meaningful market signals, understand emerging technologies, and identify solutions that directly address strategic priorities. The question is never whether a startup is impressive; it is whether it is genuinely useful to the institution and capable of improving the business in measurable ways. Our discussion also reinforced how AI is fundamentally changing the insurance value chain. As customers increasingly rely on AI assistants and autonomous agents to search for, compare, and purchase products, insurers must prepare for a world in which machines—not people—interact with their systems. Discoverability, machine-readable products, and seamless digital connectivity will become as important as customer experience itself. Ultimately, Carlos challenged us to think beyond digitization. The frontier insurer will not simply modernize existing processes—it will redesign itself around risk intelligence, ecosystem collaboration and adaptive execution, while remaining anchored to insurance's enduring purpose: helping people navigate the risks that shape their lives.   BEST MOMENTS "You cannot partner your way out of a weak core." – Sabine VanderLinden (00:01:10) "Some initiatives are truly transformational, and some are simply a consequence of FOMO. You want to stay close to what's happening without necessarily bringing it into the business." – Carlos Cendra Falcón (00:03:32) "Sometimes the best-in-class solution isn't the best fit for your organization." – Carlos Cendra Falcón (00:15:23) "Scouting is not provider matchmaking. It's a strategic approach to solving business problems." – Carlos Cendra Falcón (00:17:08) "You need to tackle one of the lines in your P&L or your balance sheet. Otherwise, you're just there to look nice in the picture." – Carlos Cendra Falcón (00:16:28) "Machines don't care how pretty your website is." – Carlos Cendra Falcón (00:20:50) "You need to have the information available, well structured, and you need to be able to talk to the machine." – Carlos Cendra Falcón (00:21:00) "The question is never whether a startup is interesting. It is whether it is institutionally useful." – Sabine VanderLinden (00:24:42) "We are here to help people navigate the risks they're facing in their lives, with their property, their health and their way of life." – Carlos Cendra Falcón (00:22:18) "First understand what an insurance company should look like in 2035, then design the roadmap that gets you there." – Carlos Cendra Falcón (00:23:32)   ABOUT THE GUEST Carlos Cendra Falcón is Scouting and Investment Lead at MAPFRE Open Innovation, where he works at the intersection of insurance transformation, venture ecosystems, and corporate strategy. His role focuses on identifying the startups, technologies, and ecosystem partners that can help MAPFRE respond to new risks, new business models, operational challenges, and changing customer behaviors. Carlos's work is grounded in the practical realities of transforming a large, global insurer. He focuses on detecting early signals across AI, embedded insurance, human–machine interaction, real-time risk intelligence, and preventative insurance, translating market signals into strategic partnerships and investment opportunities that help incumbents move beyond experimentation.   ABOUT THE HOST Sabine VanderLinden is a corporate strategist turned entrepreneur and the CEO of Alchemy Crew Ventures. She leads venture-client labs that help Fortune 500 companies adopt and scale cutting-edge technologies from global tech ventures. A builder of accelerators, investor, and co-editor of the bestseller The INSURTECH Book, Sabine is known for asking the uncomfortable questions—about AI governance, risk, and trust. On Scouting for Growth, she decodes how real growth happens—where capital, collaboration, and courage meet. If this episode sparked your thinking, follow Sabine VanderLinden on LinkedIn, Twitter, and Instagram for more insights. And if you're interested in sponsoring the podcast, reach out to the team at hello@alchemycrew.ventures

Live July 29, 2026 | Yaron Brook Show(Season 12, Episode 128)War; Missiles; Tariffs; DEA; Fed; AI; Cockroach; Millionaires; Lithium; Milei | Yaron Brook ShowWatch Now: https://youtube.com/live/4hDC05-WIfIIran Fires Missiles. America Runs Low on Weapons. Is the West Ready for the Next War?Iran is becoming more aggressive. America is running short on critical munitions. Tariffs continue to distort the economy. AI innovation faces growing political pressure. Meanwhile, Argentina continues proving that free markets actually work.In this wide-ranging live episode of The Yaron Brook Show, Yaron examines whether the West is prepared for the geopolitical conflicts ahead—and why economic freedom remains the foundation of both prosperity and national security.Topics Covered• Iran and Middle East conflict• Missile defense and military preparedness• Defense technology startups• Anduril and autonomous weapons• U.S. military procurement• Trump's tariffs• Inflation and the Federal Reserve• Artificial Intelligence• Lithium batteries• Javier Milei and Argentina• Capitalism vs statismYaron unpacks Iran's missile strategy, America's defense-industrial weaknesses, emerging defense startups transforming warfare, Trump's tariff policies, inflation and the Federal Reserve, AI regulation, declining millionaire populations in the UK, falling lithium battery costs, and Javier Milei's remarkable economic reforms in Argentina.If you want serious analysis grounded in reason—not partisan talking points—this episode connects today's biggest headlines through the principles of capitalism, individual rights, and long-term thinking.Watch here: https://youtube.com/live/4hDC05-WIfITimestamps00:00 Introduction, travel updates & upcoming events3:08 Jordan Peterson courses & Ayn Rand 06:19 U.S.–Iran tensions escalate10:27 Iran's missile attack explained12:15 Saudi Arabia, Houthis & regional strategy19:21 Why Iran believes it can win20:23 America's missile shortage26:25 The artillery production problem31:40 Why U.S. defense procurement is broken35:25 Defense startups changing modern warfare38:00 Anduril and autonomous fighter aircraft42:19 New air defense technologies44:36 Mach Industries & next-generation weapons47:52 Autonomous naval systems52:10 Venture capital enters defense56:19 Trump's tariffs and economic damage59:48 Can tariffs survive legal challenges?1:01:42 Canada, Brazil & trade wars1:08:32 DEA operations against drug boats1:11:42 Oil prices, inflation & the Federal Reserve1:17:01 Should AI development slow down?1:20:57 India's bizarre cockroach protests1:30:41 Why millionaires are leaving Britain1:33:40 Lithium batteries get dramatically cheaper1:35:53 Javier Milei's economic success in Argentina1:39:51 Final thoughtsLive Audience Questions1:43:46 How do you overcome extreme self-consciousness?1:47:27 What did you think of the Michael Israel interview?1:50:25 Why does Iran's regional influence continue to grow despite its struggling economy?1:52:47 Are comparisons between ICE detention centers and Nazi concentration camps valid?1:55:17 Why is small talk more common in individualistic cultures?1:58:18 Do people underestimate how much economic freedom still exists within today's mixed economies?2:02:43 Why is Objectivism especially valuable for people who have always felt like outsiders?2:04:27 What makes T.A.R.S. such a compelling AI character, and what does it reveal about intelligence, personality, and human values?See pinned comment for more questions. Like this episode?Subscribe, share it with friends, and become a Patreon supporter to access monthly AMAs, exclusive content, and commercial-free audio.#Iran #Israel #MiddleEast #Tariffs #ArtificialIntelligence #MilitaryTechnology #JavierMilei #Economics #ChinaAI #Trump #JDVance  #Objectivism #Capitalism The Yaron Brook Show is Sponsored by[The Ayn Rand Institute](https://www.aynrand.org/starthere)[Energy Talking Points, featuring AlexAI, by Alex Epstein](https://alexepstein.substack.com/)[Express VPN](https://www.expressvpn.com/yaron)[Hendershott Wealth Management](https://www.youtube.com/watch?v=X4lfC...) &(https://hendershottwealth.com/ybs/)[Michael Williams & The Defenders of Capitalism Project](https://www.DefendersOfCapitalism.com)[Support the Show]( / yaronbrookshow )[Sponsor the Show](askyaron@yaronbrookshow.com/)[One-time donation](https://bit.ly/2RZOyJJ)Join the [Yaron Brook Show YouTube channel]( / @yaronbrook )Like what you hear? Like, share, and subscribe to stay updated on new videos and help promote the [Yaron Brook Show](https://bit.ly/3ztPxTx)Continue the discussion by following Yaron on [Twitter](https://bit.ly/3iMGl6z) and [Facebook](https://bit.ly/3vvWDDC )Want to learn more about Ayn Rand and Objectivism? Visit the [Ayn Rand Institute](https://bit.ly/35qoEC3)Become a supporter of this podcast: https://www.spreaker.com/podcast/yaron-brook-show--3276901/support.Yaron is the executive chairman of the Ayn Rand Institute and a world class speaker. He is the coauthor of the national best-seller Free Market Revolution: How Ayn Rand's Ideas Can End Big Government, Equal is Unfair: America's Misguided Fight Against Income Inequality and In Pursuit of Wealth: The Moral Case for Finance. He speaks around the world on a variety of topics including the morality of capitalism, Ayn Rand and her philosophy, finance and economics, and the value of inequality.

All links and images can be found on CISO Series Prevention in cybersecurity is a lot like flossing: everyone knows they should do it, but few do it enough. What's stopping us? Check out this post by Ross Haleliuk of Venture in Security for the discussion that is the basis of our conversation on this week's episode co-hosted by me, David Spark, the producer of CISO Series, and Edward Contreras, senior evp and CISO, Frost Bank. Joining us is Deneen DeFiore, vice president & chief information security officer, United Airlines. In this episode: The sponsorship gap One strike and you're out Policy without position Prevention isn't static A huge thanks to our sponsor, CoreView Attackers don't break into Microsoft 365. They log in and reconfigure it. When tenant configurations drift or get tampered with, recovery can take weeks and missed settings can reopen the door. The Cyber Resilience Framework for Microsoft 365 covers the five pillars, harden, govern, detect, respond, recover, and shows exactly where today's tools leave gaps. Download the free practical guide

With Josh Tomolak, Vice President of Independent Advisor Services, Diamond Consultants Louis Diamond and Josh Tomolak unpack today's IBD vs. RIA landscape, explaining what has changed, where each model excels, and how to determine which path best supports the business you want to build. In Summary The independent wealth management landscape has changed dramatically, making the decision between an independent broker dealer (IBD) and an RIA more nuanced than ever before. Louis Diamond welcomes Diamond Consultants' Vice President of Independent Advisor Services, Josh Tomolak, for a practical discussion of how the independent space has evolved, what truly differentiates the IBD and RIA models today, and how advisors can evaluate which path best aligns with the business they want to build. The Storyline Not long ago, the decision to become independent was relatively straightforward. Advisors either remained with a traditional firm or pursued independence through one of a limited number of models. Today, the conversation is far more complex. Independent broker dealers have significantly expanded their capabilities, offering stronger technology, larger transition packages, greater flexibility, and even pathways to RIA ownership. At the same time, the RIA ecosystem has matured into a sophisticated marketplace supported by multiple custodians, outsourced service providers, institutional capital, and enterprise platforms that rival many of the industry's largest firms. As these developments have unfolded, the traditional distinctions between an IBD and an RIA have become less obvious. Advisors evaluating their options are no longer simply asking whether they should become independent—they're asking which model best supports the clients they serve, the business they envision, and the lifestyle they want to create. In this Industry Update, Louis and Josh unpack the realities behind the IBD vs. RIA decision. They discuss where the two models overlap, where meaningful differences still exist, and why factors like service, technology, economics, operational responsibility, enterprise value, and long-term optionality often matter more than labels alone. Whether you're considering changing independent firms, launching your own RIA, or simply want a better understanding of how the independent landscape has evolved, this conversation provides an objective framework for evaluating today's choices—and preparing for tomorrow's opportunities. Topics Covered Independent Broker Dealer (IBD) vs. RIA models The evolution of supportive independence Technology investments across the independent space Transition support and advisor mobility Capital solutions and recruiting economics Business formation and enterprise value Launching an independent RIA Multi-custodial platforms and open architecture Minority investments and succession planning Future trends shaping advisor independence > Download a transcript of this episode… Listen and Learn Highlights for Advisors Why are already-independent advisors reconsidering their current model? (5:27) Josh explains why service, technology, economics, and growing optionality are causing advisors to reevaluate their existing affiliations. How have independent broker dealers and RIAs become more alike? (19:28) Louis and Josh discuss the growing convergence between the two models and why the distinction is becoming less obvious than many advisors assume. What really separates an IBD from an RIA? (25:04) A practical discussion of autonomy, compliance, flexibility, custody, economics, and advisor experience. What misconceptions keep advisors from launching an RIA? (36:29) Josh outlines the “Four Pillars” of launching an RIA and explains where advisors tend to either overestimate or underestimate the operational realities. Which advisors thrive most in each model? (33:12) The conversation explores why there isn't a universally “better” model—only one that's better aligned with an advisor's goals. What trends are quietly reshaping independence? (42:13) Minority investments, enterprise value, business formation, and changing revenue models may have an even greater impact than advisors realize today. Key Takeaways Independence has evolved from a destination into an ongoing strategic decision. Independent broker dealers have significantly improved technology, transition support, economics, and flexibility. The RIA ecosystem has matured into a highly sophisticated marketplace with broad outsourcing and support options. Choosing between an IBD and an RIA should begin with long-term business objectives—not industry perceptions. Building a valuable business depends more on business structure and scalability than simply growing assets. Advisors considering independence should evaluate models with an open mind rather than relying on outdated assumptions. The next decade will likely bring continued convergence between independent business models. https://youtu.be/jHDVso2TsmQ Quotable Moments “The question is no longer, ‘Do I want to go independent?' The question is, ‘What kind of independence makes the most sense for my clients, business, and goals?'” “Business formation is far more important than assets under management.” “The way you build your business will ultimately determine how valuable that business becomes.” “Everything in an RIA is going to cost you either your time or your money.” FAQs Is there still a meaningful difference between an IBD and an RIA? Yes. While the two models increasingly overlap, they differ in areas such as flexibility, compliance structure, operational responsibility, economics, and control. Why are more independent advisors changing firms today? Improved technology, stronger transition support, evolving economics, and better service models are prompting many advisors to reassess whether their current platform still fits their business. Is launching an RIA easier than it used to be? Yes. Supportive independence, outsourced service providers, and improved custodial resources have significantly reduced many of the historical barriers. Does every entrepreneurial advisor belong in the RIA model? No. The best fit depends on an advisor's appetite for ownership, customization, operational responsibility, and long-term vision. What matters more: assets under management or how the business is built? Josh argues that scalable business formation often has a greater impact on enterprise value than AUM alone. What's the biggest mistake advisors make when evaluating independence? Starting with assumptions instead of objectives. The most effective due diligence begins by defining the business you're trying to build, then identifying the model best suited to support it. Yes. While the two models increasingly overlap, they differ in areas such as flexibility, compliance structure, operational responsibility, economics, and control. Improved technology, stronger transition support, evolving economics, and better service models are prompting many advisors to reassess whether their current platform still fits their business. Yes. Supportive independence, outsourced service providers, and improved custodial resources have significantly reduced many of the historical barriers. No. The best fit depends on an advisor's appetite for ownership, customization, operational responsibility, and long-term vision. Josh argues that scalable business formation often has a greater impact on enterprise value than AUM alone. Starting with assumptions instead of objectives. The most effective due diligence begins by defining the business you're trying to build, then identifying the model best suited to support it. Related Resources IBD vs. RIA Comparison Guide IBD vs. RIA Revisited: Two Independent Pathways for Advisors to Consider NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation. View the transcript of this episode… IBD vs. RIA: A Special Industry Update on Independence A conversation with Louis Diamond and Josh Tomolak, Vice President of Independent Advisor Services at Diamond Consultants.      Louis Diamond: Welcome to the latest episode of our podcast series for financial advisors. Today’s episode is IBD vs. RIA: A Special Industry Update on Independence. It’s a conversation with Josh Tomolak, our Vice President of Independent Advisor Services. I’m Louis Diamond, and this is the Diamond Podcast for Financial Advisors. Mindy Diamond: At Diamond Consultants, we help elite advisors identify the right environment for their businesses to thrive, whether that’s at a wirehouse, boutique, or independent firm. With nearly three decades of experience, we’ve guided thousands of advisors and represented more than a quarter of a trillion dollars in assets transitioned. And each year, one in four advisors managing a billion dollars or more who change firms are our clients. Our process is education driven and based on building relationships, starting as your strategic partner well before you’re even thinking of a move. To schedule a confidential conversation, call us at (908) 879-1002. Wondering why advisors change firms and where they’re headed? Are transition deals going up or down? Those very questions and more inspired us to create our annual advisor transition report. It’s the award-winning data-driven resource designed for advisors that connects the dots between the motivations around movement and the firm’s appetite for top talent. Arm yourself with the knowledge you need to make smart decisions. Download your copy at diamond-consultants.com/transitionreport. Louis Diamond: For a long time, going independent would suggest the destination. Today, it’s often the beginning of a different conversation. As the independent space has matured, advisors have more choices than ever before. Broker-dealers have expanded their capabilities. The RIA ecosystem has become increasingly sophisticated. Capital is more readily available and support models now exist that would’ve been difficult to imagine a decade ago. The result is that many advisors who are already independent are taking a fresh look at whether their current affiliation still aligns with what they’re trying to build. My guest is Josh Tomolak, Vice President of Independent Advisor Services here at Diamond Consultants and our resident expert on independence. Josh spends his days helping advisors evaluate independence in all its forms from independent broker dealers, the fully independent RIAs and everything in between. And his knowledge is critical because the distinction between these models is often blurred. Many broker dealers now offer pathways to greater autonomy while supported independence has made RIA ownership more accessible than ever before. So the question is no longer simply, “Do I want to go independent?” The question is, “What kind of independence makes the most sense for client, business, and goals?” Josh shares what he’s seeing across the landscape, the misconceptions that continue to shape advisor thinking and the factors that matter most when evaluating the next chapter of an independent business. There’s a lot to discuss, so let’s get to it. Josh, thanks for joining me today. Joshua Tomolak: Thanks for having me, Louis. It’s a real privilege to have come. This is a full circle moment for me going from being a student of your podcast, to working alongside you, to being a guest. So I appreciate you having me. Louis Diamond: Amazing. I’m excited for this one too, because you have a fresh and in the weeds perspective that a lot of our guests simply don’t have. So why don’t you start off, you spend your time helping advisors evaluate independence every day. So working with advisors who are already independent, for the most part. And to me, it feels like the independent space has really evolved dramatically over the last decade. I mean, this podcast is really the epicenter of that to prove that out, but give us a little background on your past roles in the space and then we can get into what you’re seeing right now. Joshua Tomolak: Yeah, I’d be happy to. So I took a very non-traditional path into wealth management. I spent a decade as a deep sea Navy diver, and upon completing my service there, I ended up working for TD Ameritrade. And in my role there, I spent about six years doing nothing but helping financial advisors explore the RIA space, whether that was to join or partner with an RIA, sell to an RIA, or in most cases, launch their own RIA. And one of the things that I ultimately came to terms with is it’s just not the right model for everybody. While I’m a huge advocate for it, we would often lose business to the major broker-dealers of the world. And at the time, I really didn’t understand why. In the last six years at Diamond Consultants has been a very interesting purview into what a lot of the broker-dealers have done and are doing to make themselves more RIA-ish and be very compelling to the right advisor. Louis Diamond: Perfect framing. Your background is incredibly germane to the folks you work with. So let’s start off with the softball here. What are you seeing right now? Joshua Tomolak: It’s not so different than the rest of the industry, the wirehouses, the regional firms, things of that nature, that if you took 10 firms, they’re all likely to go different directions, even if they were identical practices. That could be… A third would go from an independent broker-dealer to another independent broker-dealer. Certainly the supported RIA space is growing every day and has created a lot of very fun and unique solutions for advisors, very customized and curated. And then I think there’s still a lot of really great sophisticated teams and individual contributors that are making the decision to go hyper entrepreneurial and launch their own individual RIA. So the movement’s really all over the board from my perspective. Louis Diamond: It does feel like it’s no longer independence is an alternative option or it’s on the fringes. It’s very front and center whether for breakaways, which is a big topic on our podcast, but in general, the infrastructure has become much, much more sophisticated today than ever before. Advisors have way more tools in their toolbox to serve clients, whether in the private markets or through technology. And it’s no longer that if an advisor’s independent, they’re in the minor leagues where they don’t have the same ability to serve clients like they did if they’re at a big bank or a private bank or a wirehouse. Do you agree? Joshua Tomolak: I absolutely agree. And I’m reminded of a question I got one time from a great team that I worked with in New York. They asked me, “Are there really more options than ever before? Because all we see is one firm selling to another.” And I think that’s a really great point. There’s far less broker dealers on the street than there were even five years ago. But for every Commonwealth, for example, that sells to an LPL, up pops three or four really cool private equity-backed, sophisticated RIA platform firms that are built to service their own unique advisor base. Louis Diamond: I think that’s right. Sitting on the sidelines, sitting on top of everything going on in the industry, I feel like capital is always an interesting topic forever. If an advisor wanted to move within the independent world or break away from a big firm to go independent, the only way to get capital was to go to an independent broker dealer. So we still see that, but I feel like today between all these minority acquisition opportunities, we’re seeing firms acquire practices at time of transition, which is somewhat new. There’s debt solutions, recruiting deals are way up for firms that are paying forgivable loans. RIAs now would, in some cases, will pay a forgivable note. What are you seeing there as far as the availability of capital and just deals in general? Joshua Tomolak: It’s a great question and I didn’t want to take the low-hanging fruit, but capital’s been a huge innovation, I guess, in the last five years I’d say. Just to give you rough quotes, please don’t hold me to it, but traditional transition broker-dealer deals were five years ago, 40 to 60% of Trailing Twelve revenue today are somewhere between 90 and 120%, sometimes north of that for the right team. That’s really meaningful money for the team that is thinking about foregoing a wirehouse deal, for example. I’d also say a lot of these firms are getting hyper-creative in how they solve for capital. The minority investment piece that you mentioned is very interesting. We’re seeing a lot of privatized forgivable notes in the RIA space where third-party or private lenders are basically lending the money and the RIA is making the payments on that forgivable note as long as the advisor is affiliated with them. So there’s been a recognition among the RIA space to get away from the, “Oh, they just took a check” type of mantra, and to say, “Look, I understand there are capital needs. These people are taking a risk. We need to solve for that.” So we’ve seen a lot of that in the marketplace. Louis Diamond: Very interesting. I think another thing financially, and then we’ll keep the train moving, that I know I’ve seen, and maybe you can weigh in if you’ve seen the same, is the cost to an advisor or a business owner to join an independent BD or to join an RIA has come way down, probably in part because of Schwab going to zero on trading. That’s been a catalyst. But it feels like we used to say independent BDs were expensive relative to the RIA world. And in some cases, they certainly could be. And if you’re at scale, maybe you can pick up a point or two being in the RIA world versus a BD. But when you have some of these BDs that have a basis point admin fee or no admin fee at a certain size and the payouts I feel like are similar, maybe have gone up a little bit, but it’s more so like the administrator fees, the platform fees, the program fees. Anyone who’s not in that world, it’s like, “What are you talking about?” But basically the way that these broker-dealers make money, it seems like there’s been a pretty big differential in the exchange of value where advisors now get more services, better technology, get more money to join them and get it at a lower cost. Do you agree? Joshua Tomolak: I absolutely agree. I think that maybe that’s one of the larger changes that we’ve seen, and it’s probably one of the benefits from a lot of the industry consolidation on that independent broker-dealer side. The economies of scale of these folks have allowed them to increase their tech spend, increase their service capacities all while offering it to the advisors at a cheaper price. And when I was at TD Ameritrade, one of the biggest pitches was the idea of a 100% payout and you control the fixed expenses, your technology compliance, et cetera. But what’s changed is that broker-dealers are pretty darn comparable on the expenses. All of those admin fees and things you mentioned will still exist, but they’re on a much smaller scale. And I think the question a lot of advisors are asking is, “Am I getting congruent value from my broker-dealer for what I pay for?” And while that answer might’ve been no a couple years ago, today the answer is more often yes. Louis Diamond: Yeah, I would agree. A lot of times we work with advisors who are starting an RIA or affiliating with an RIA or going to a BD and they see how big the deals are in the independent BD world and the payouts are really high and the fees are relatively low. And honestly, it is a hard decision or calculus to make, like, “How does it make sense for me to turn down this extremely lucrative deal when my ongoing economics are going to be somewhat similar in the BD world versus in the RIA space?” I think it’s just an interesting dynamic and we’ll get more into that distinction. One of the stars of the show right here is we’ve seen a ton of advisor movement across the industry. Our annual advisor transition report said that in 2025, over 11,000 experienced advisors changed firms, which is a large number. A lot of those numbers are within the independent world. So advisors who are 1099 through a BD or through an RIA transitioning to another platform or organization or starting an RIA. So why do you think we’re seeing so many advisors reconsider their current firm or their platform or their broker-dealer today than in years past? Joshua Tomolak: It’s a jarring number. 11,000 is definitely a significant amount of advisor movements. To me, it comes down to a few things, but I will say that it’s almost always a conglomeration of pushes and pulls. Pushes being inherent frustrations with your status quo, pulls being the new sexy, shiny things that you see in the marketplace that could be really impactful for your business. To me, it typically comes down to one of three things, at least on the push front, that drives advisors to movement. Service being number one, technology being number two, and economics being number three. And if we were just going to unpack those, I think service being, “Can you call somebody that knows your business, that knows your name? Are you getting the correct answers? Are you being pushed through a phone tree? And even if you’re not doing it, is it taking up a meaningful amount of time of your staff’s free time?” On the technology front, there’s very significant tech spends happening in the industry right now. I think Raymond James and LPL reported, for example, they spent 500 million in 2025 on a tech spend. So advisors are going to the places that are making their life easier. People are looking for a mechanism to really scale their business without having to add staff and a lot of expenses to the bottom line. And technology is just the fastest, most efficient way to do that most times. And then economics, certainly a lot of advisors and teams have built phenomenal businesses and they’ve made a great living without really stressing out about the economics. And they eventually get to a point in their business where what they were giving up as a million dollar producer is far different than what they’re giving up as a $4 million producer. And back to the congruent value, it perhaps stops to make as much sense. Louis Diamond: Well said. I always say when the cost-to-value ratio is out of whack, that’s when advisors sit up and take notice. And not to name names of firms, but there definitely are firms that are more expensive. And even if you look at how much a wirehouse or a Ed Jones advisor paid their firm, it’s like, “What got me here is not necessarily what’s going to get me there.” And while the name on the business card, the resources were incredibly impactful, and I’m so grateful for what my firm, my broker-dealer did for me when I was just starting or when I was smaller. Now the business is bigger, I rely upon different resources or I don’t need the firm as much. So I’d rather plow the cost savings either into income for myself or invest it in areas that are most germane to my business. And it’s usually when that kind of light bulb moment goes off, that’s one of the major pushes that cause advisors to evaluate other options. So I agree with you, those are the major push factors, but then what are the pull factors? What are the major advancements or changes across the independent space that’s causing advisors to say, “Hey, okay, I might have some frustrations, but at the same time, I also need to find something that’s more than marginally better than the firm I’m at. Otherwise, why am I going to go through the hassle, take the risk, et cetera? So what are some of the pull factors that advisors are latching onto today? Joshua Tomolak: Sure. And I might say with one final push factor, there’s a straw that breaks the proverbial camel’s back when you’ve been told for however many years that this change or that change is coming down the pipeline and it never happens. And it translates well into the pull factors is do they do what they say they’re going to do? The talking points really for the pull factors are exactly the same. So the counterpoint to service is perhaps having a direct relationship with the chief compliance officer at a firm or having a dedicated service representative that knows their stuff inside and out and can get you the answer even if they don’t know it off the top of their head. Having the technology to rebalance a household in two clicks instead of two hours. In economics, I think it’s really a transparency of economics. We’ve both worked with some really significant firms that have looked at their P&Ls and said, “where the heck is the money going?” And we’ve looked at the same P&Ls and said, “I have no idea,” because it’s so convoluted. People are happy to pay for good service, good technology, good products, but they just want to know where the money’s coming from. So I think it’s a yin and yang. The same things that they’re the push are often the pull. Louis Diamond: Definitely. I’ll give you a couple other from my perspective. I’ll say first specific to the independent BD world, and then we’ll dive into the RIA, I think it’s a little bit different. But I think some other will say innovations or changes that are causing advisors to really perk up and listen and really make the case to themselves that life will be better at this new organization than the status quo or staying put. We’ve seen major advancements in transition support, whether it’s being able to do a transition without a shred of paper, being able to… I mean, we’ve seen some independent advisors move their entire book within two weeks, which never would’ve happened before. So the firms that I’d say are playing offense, the larger firms that are winning, they have insane headcount around transitions and are always investing in technology, whether now on the AI front or in general. And we’ve seen transitions, they’re never easy. So that’s not a comment to say it’s easy, but a lot of the friction, a lot of the manual work has been taken away, which is massive. You definitely mentioned the significant technology spend. I mean, just the innovations going on across the industry. There’s definitely some firms that are laggards on technology and others that are light years ahead, whether because their tech is more integrated or they’ve built out their platform to be more, we’ll say modular, to plug in different third-party softwares where an advisor can really customize and create their own tech stack. I think there’s been some changes on compliance. It used to be if you’re at an independent BD, you had to be the OSJ by yourself or you had to roll up under an OSJ. But now most BDs offer home office supervision, so a big friction or pain point is taken away. And then I’ll give you a bridge to talk about what we’re seeing on the RIA side. But we’ve also seen, I would say, a real blurring of the lines between what you would traditionally think of as an independent broker dealer versus what was an RIA. So whether it’s an internal pathway where it’s like, “Start off on our independent BD platform, get the big deal, get the support, but then you can ditch that and just use this as a custodian or you can sell the business to us when you want to retire and convert to W2.” So in that vein, transitioning internally to an RIA, give me the same points like, “What are the major advancements or changes you’re seeing on the RIA side today?” Joshua Tomolak: I love that you said that because it’s been one of the most interesting changes to watch. Independent broker dealers becoming more like RIAs, and to your point, being more flexible, having more optionality, a more curated experience in some cases. And in many cases becoming closer to independent broker dealers with some of these massive shops that we’ve seen be created over the last five years that now have hundreds, if not thousands of advisors. To your question on the internal RIA slide as we sometimes call it, this really didn’t exist many places a few years ago. And I think it’s been created as both originally a retention tool in many places for the advisors that were with a major independent broker dealer and they ultimately wanted to have their own ADV and their own RIA. And the firm didn’t want to lose all the assets to an independent custodian so they gave them the green light to… And it’s ultimately became a sales tool in many cases. Just to use a couple of examples across the industry, I mean, Raymond James has Raymond James Custody Services, which has attracted a lot of really sophisticated teams. I know Wells Fargo Finance done something similar and even the counterparts over at Cetera and Osaic are trying to do the same thing. So it’s a recognition in my view that we want to keep the best talent possible. And if these folks are ultimately going to go RIA anyway, it’s less about the money and more about the flexibility and control that it offers them. So what can we do to keep those folks on board? And rightfully so, a lot of senior management of these firms have said, “Let’s not lose these teams. It’s going to be a lower margin business for us, but at the rate that they’re growing, it’s going to pay off in the long run.” Louis Diamond: Well said. RIAs are now more mainstream. And some of these RIAs, they’re either resembling independent BDs or I would even go so far to say the valuations that are even publicly available on some RIAs is definitely having people take notice. I mean, Cerity Partners recently raised capital at an over $8 billion reported valuation. Crescent was well over a billion. Firms like Mariner, Creative Planning, Mercer, Wealth Enhancement Group, and there’s many that I’m missing, are all worth a couple billion dollars or more and growing. Do you think that’s had an impact on the legitimacy or the staying power of the RIA model? Joshua Tomolak: Oh, absolutely. There’s no doubt about it. I mean, those groups that you mentioned and many more are winning some of the biggest teams on the street. I mean, if you pull up a run-of-the-mill advisor hub article, for example, you’ll see as many of those RIAs win significant businesses as you will their broker-dealer counterparts, partially in my opinion, due to the massive valuations these firms are fetching. And it’s much more of a partnership in the sense that joining a Crescent or a Wealth Enhancement Group, as you mentioned, you’re a part of a boutique group of maybe a couple of hundred very sophisticated high-producing advisors all playing under the same banner, all rowing in the same direction, and that creates substantial growth. Louis Diamond: Exactly right. I think two other things to me that’s driving the legitimacy or the growth of the RIA segment, there’s so many different outsourcing solutions that have popped up, whether it’s more of a… We’ll say a bundled or a package outsourcing solution through firms like Dynasty and Sanctuary. LPL has done a ton with having a shared services outsourcing model. So you have those. But you also have, I mean, probably 10 different firms I could think of that can be an outsourced chief compliance officer. You have tons of marketing agencies that specialize in helping RIAs. You have all these FinTechs popping up to support the RIA space. Really, it’s like anything and everything can be outsourced now. And even the big Wall Street banks like UBS, Merrill, et cetera, they’re attempting to sell and distribute product into the RIA space. Venture funds, private equity funds, anyone you talk to is trying to get a piece of the RIA space, which means there’s more product and platform availability than ever before. And I think it’s massive because one, it’s a catalyst for teams who say, “I love everything about the RIA world. I just don’t want to do it on my own,” or, “I don’t know where to start.” But also it means that they can look their clients in the eye and say, “Hey, not only do I have the same stuff that I had for you at XYZ firm, I can actually do more for you.” And even if you look at what the custodians are doing on the lending side now, Schwab owning a bank is massive and being able to facilitate mortgages, securities-backed loans, things that didn’t really exist in the past. I think it’s a very exciting time for advisors either that are independent or are considering the independent space because you have all these choices and it’s really like, “Choose your own adventure. Give me your top five things you want.” I’m sure it exists and we can find it and make it happen. And I don’t think we’d have the same confidence in that statement 5, 7, 10 years ago. Joshua Tomolak: I couldn’t agree more. That’s such a huge development is the marketplace of third party vendors in any kind of capitalism environment. There’s problems that people encounter and there’s really smart people that are trying to make a lot of money that go to market to solve them. And we’ve seen a ton of that over the last few years. Louis Diamond: Exactly right. Yeah, it’s like also… If an advisor looks around and says, “Hey, this is what I want,” and it doesn’t exist, oftentimes that’s a light bulb moment to be like, “Okay, I’ll go build it. I’ll do it on my own.” Whether it was Stewart Partners when they launched a number of years ago or Hightower, Dynasty, et cetera. They were all started by people that said, “Hey, I see a big gap in the ecosystem. Let’s create a business and raise capital to go solve it and then deliver this service to other like-minded advisors or business owners.” Honestly, it’s a treat to be able to watch all this happen in real time. We probably should have laid the groundwork with this next question, but I think it’s an important one. What’s the difference between a independent broker-dealer and an RIA? Really basic foundational. It sounds like the lines are blurred. There’s probably a lot of similarities. Advisors are successful in both. It’s not like one’s better than the other. How would you explain the differences, if a client of ours asked, “What’s the difference between an independent broker-dealer and IBD versus an RIA”? Joshua Tomolak: Get into the core of it. Again, the lines are blurred, and I’ll stay very high level on the strategic differences, but I like to use this example. I drive a Toyota Tundra. Really like the truck, gets me from A to B. Now, if I were getting to a point where I wanted a new vehicle, if I were to go get another Toyota Tundra because I really like a lot of aspects of it, but I want the one with the bigger screen and the bigger tires and the power seats, and I have rolled down windows because I have a fear of drowning. But if I want a lot of the bells and whistles, but I want to keep the foundation, that’s what I align to a independent broker-dealer to independent broker-dealer. You like the foundation of everything all under one roof. You like a lot of the resources, but you have some meaningful frustrations and you want to see if another provider in the market can solve for those or you can upgrade. If I instead, Louis, decided that I wanted a sports car or a Jeep Wrangler or something, I would be looking at a different category altogether. That’s how I articulate the platform space. They provide the same services and support in many cases that an independent broker-dealer does, think of marketing and a tech stack and regulatory oversight and a fellowship in a community, but they’re built on an RIA TC registered chassis. They’re typically far more customized so you can shop the street to get a lot more of the things that you like, though you are walking away from maybe some of the things that you’ve liked in the independent broker-dealer model. So I guess that’s the highest level I might explain it, just a little bit more minutia in any broker-dealer is going to be a FINRA registered, FINRA member broker-dealer. So they’re subject to the FINRA rules, which basically means it’s the compliance interpretation of those rules that they have to follow. So LPL’s rules may be slightly different than Cetera’s than Ameriprise’s because it’s based on their interpretations of the rules. In the RIA space, everybody really operates on the fiduciary standard. So it’s just a different lens that from a compliance standpoint, business is looked at. And a lot of people would make the argument that it’s just easier to get things done when you’re looking at something from that lens. I might’ve gone too compliance nerd on you there, but I’d be curious what you think some of the major differences are. Louis Diamond: Yeah, I think that’s right. I mean, it sounds like if you’re in the RIA world in some capacity that you as the advisor or business owner are going to have a little bit more control and autonomy and flexibility. One, do you think that’s true? And what are the reasons why that is? Is it platform? Is it strictly just compliance is easier? What are the different ways that an RIA would have more or less flexibility than someone who’s with an independent BD? Joshua Tomolak: Yeah, I think it’s overwhelmingly true, but it certainly depends on your business. Within most RIA platforms, you’re going to be one of a couple dozen, maybe a couple hundred, where you’re going to have people within that firm that really know your business. So the experience in getting things done is much less about, “Can I do this,” or, “Can I not do this?” And it’s, “Louis, I understand you asked for this. We’re going to run into these issues, but let’s figure out how to get to yes.” So it’s far more curated by people that are not operating on black and white rules and can actually figure out how to get to yes for your business. The other thing I would say is that most significant RIA platforms have multiple custodial options. So many times you’ll see as few as two or as many as five. So if an advisor or a team is trying to bring on a new piece of business or do something creative, that might be something they can use a different custodial relationship to accomplish. It might be something that Goldman Sachs does really well but is in its infancy at Fidelity, or it might be international business that’s approved on Pershing’s platform but not Schwab’s platform. So the RIA partner that you’re with can really look at those custodians agnostically and say, “What’s the best home for this business? What’s the best way to get this done for Louis?” There’s a couple examples of where I see the flexibility in practice. Louis Diamond: Yeah, I think one more too would be the concept of being able to shop the street. I’ve heard it described as becoming a buy-side advocate for your clients versus being a professional seller. So meaning, if I’m affiliated with an RIA or I’m operating my own RIA, there’s no selling away like there is at a wirehouse or at certain BDs. So if I have a client who’s trying to get a $10 million loan for a new building that they’re breaking ground on, if I’m at UBS, Merrill, Morgan Stanley, captive to a BD, I can go to my firm and say, “Hey, this $10 million loan, here it is. What are the terms? What are the rates? Will you take on this business?” And the firm will say, “Yes. No. Yes, here are the terms. Here’s the caveats, et cetera.” But it’s a very closed market process and an advisor has to live and die by what their firm says. Versus in the RIA world, it’s, “Okay, I have relationships with nine different banks and I can go to these different banks and private credit funds and whoever and really create either an option process for my client or really just help them in a fully agnostic open way.” And we see the same thing when it comes to alternative investments. No one at a wirehouse, let’s say, is complaining that they don’t have enough alts that they can offer clients. Those firms have done an amazing job with really boiling the ocean and having tons and tons of options for private investments, hedge funds, et cetera. But if you’re in the RIA world, you can take it to the next level and say, “Hey, this $3 million startup company that my friend is starting, I’m going to help them raise capital,” or, “My client wants to get a syndicate of investors together to have a direct investment into a qualified opportunity zone fund that they’re starting. Let’s do it when we can advise on it.” So it really expands what an advisor is able to do on behalf of clients. Like to me, that’s the most interesting or exciting part of the RIA model. You can get some of that within the BD world, but to me, when an advisor’s business becomes more sophisticated as far as what their end client’s needs are, it tends to translate better to the RIA world than the BD world. Not to say there aren’t ultra-high net worth focused advisors at BDs, but because of that additional flexibility, autonomy, customization, et cetera, that speaks more RIA. So again, absolutely not down at all on the independent BDs because I think there’s a massive home for them. Josh, let me turn it back to you. I’m rambling now. Give me the pitch for an independent BD. What are the things that are misperceptions that people have? What are the advantages that an independent broker dealer like an LPL or a RayJ or a Cetera have over RIAs or over other models in general? Joshua Tomolak: Absolutely. And I’d say I’ve learned more over the last six years from some of your ramblings than most people learn in an MBA course, so keep doing what you’re doing. But it’s funny being in this position now, having spent so much time sort of selling against the IBD model within TD Ameritrade, but what I’ve learned is it’s a good home for everybody. And a lot of times the advisors that they’re entrepreneurial enough where they like having their name on the door, but they’re not so entrepreneurial where they want to build everything out themselves, that’s where the independent broker dealers absolutely kill it. Their economics have gotten to a point where they’re really competitive. They offer transition capital that isn’t even going to be comparable in the RIA space unless you’re selling a minority share of your business. And you mentioned LPL, or we could really list all of the major ones, there’s not a department that they don’t have. It could be as nuance as finding 403(b) payroll slots or it could be as mainstream as fixed income or setting up events. There are all kinds of really neat departments that these all under one roof independent broker dealers have invested in. And a lot of times they make an effort to make you very much aware of all of the support because most people don’t use it. So I would say for the advisors that are looking to get their improved Toyota Tundra, then you can get probably 70 or 80% of what you want within the independent broker-dealer world. And you can also keep 20 or 30% of the stuff, maybe more that you really liked at your previous firm. So I think that’s where it really shines. I sometimes call it an incremental change rather than a transformational change. But for many advisors, incremental is really good enough if you get to keep the familiarity of how you’ve been doing business for the last 20-some years, but you’re able to get net improvement on the things that were really bothering you. Louis Diamond: Well said. Something that I’ve seen that’s been… I guess this could be either pro or con depending upon the advisor, but with some broker dealers, letting an advisor co-brand with them or really having a real consumer-facing brand, whether it’s, “I’m a franchise owner with Ameriprise,” or, “I’m independent through Raymond James,” or, “Running my own practice through Wells Fargo FiNet,” or, “I’m independent with Northwestern Mutual.” There’s definitely some brand cache or brand familiarity with some of those firms that may or may not be the same if you’re in the RIA world. So I would agree there’s a lot to like about the independent BD world and there’s a fit for people that is absolutely better with independent BDs than on the RIA side. Even if some people would say RIA is better, we’re cleaner, I wouldn’t say that. To me, it’s all about what an advisor’s goals are and then matching that up with what these firms do. And there’s never a perfect option. I jokingly say, “If there was a perfect firm, we wouldn’t be in business.” Every firm has their advantages or disadvantages. And depending upon where an advisor’s coming from, their style of business, their pain points, that’ll match up really well with on firm or one type of firm or one model than the other. Let’s pivot a little bit to the RIA world. A lot of your comments have been more about advisors affiliating or joining RIAs, this whole supportive version of independence concept. But what about advisors who want to go and start their own RIA? Either they’re leaving a captive firm and taking the entrepreneurial route and starting their own firm, or they’re leaving an independent BD to go start their own RIA. What do you see as some of the biggest misconceptions that advisors have about that move? Joshua Tomolak: That’s probably my favorite topic because there are the most misconceptions I think in this space. Louis Diamond: I’d agree. Joshua Tomolak: And I would say there’s 9 out of 10 conversations that I have with advisors and teams, they start off with the launching an RIA in mind or at least RIA curious and they want to understand what’s out there. And probably less than half the time do these folks end up actually launching their own RIA, which is okay because the ones that do are massively successful and they know they’re dang sure that’s exactly what they want to do. I think it gets a little bit romanticized sometimes that they’ll say, “Oh, I’ll just give Schwab a call,” or, “I’ll just give the custodian a call,” as if they were shopping independent broker dealers. That’s fine. You can do that and they will help you, but there’s quite a bit more to think about. And it’s not, in my opinion, the same as evaluating independent broker dealers. If it’s all right, I was taught the four pillars of the RIA model. I can go through that with you really quickly. So the way to think about the RIA space is in four pieces. And shout out to a friend, Eli Suarez, that taught me this years ago. The first pillar… Thinking of four pillars on a bar stool, if you will. The first one being administration. And this is your compliance, this is setting up your ADV, your LLC, all of your business formation documents. The second piece being technology, what do you actually want to use? Because the benefits of the broker-dealer world and the supported independent world is they’ve already built it for you. They’ve already paid for it and scraped their knees building it. In this case, you have to. And for some people, that’s really exciting to source financial planning software and portfolio management software and your CRM and tax software, et cetera. For some people, it just sounds like a huge headache. The third pillar being custodians. I have them third because you want to make sure that the right custodian can integrate properly with the technology that you’ve sourced that you’re passionate about. And then ultimately transition. What does a transition really look like? What are my legal and regulatory requirements? How does this work? What are the timelines? Things of that nature. So I guess I would say in closing that if those four things are things that you really want to own, then you’re in a really good position to consider an RIA launch. What do you think, Louis? Louis Diamond: I think that’s a great framework to break it down. Not just be like, “Okay, I can tolerate that,” or, “My team can do it,” but I think you have to be pretty excited about rolling up your sleeves and customizing and doing it yourself because in our experience, there’s a nominal differential between the economics of running your own RIA versus affiliating with an RIA or going to an independent BD. All the extra work and responsibility, you’re not really going to make it up, at least on the front end, on a higher net payout. So it has to be more about what the model means to you and having a vision that you don’t think anyone else can accomplish other than yourself. And looking at that crazy ever-expanding Michael Kitces’ FinTech map and there’s 500 different logos on it and being like, “Yes, that’s what I want. I want to go through this. I want to pick the seven pieces of my tech stack that work for me,” rather than getting, “Here’s the tech stack, take a demo, you like it, you don’t like it, take it or leave it.” To me, the two biggest misconceptions people have about the RIA world is one, “I’m going to have to be a full-time chief compliance officer,” and just that compliance is this boogeyman, this terrible, scary thing. In some ways it is. But the reality is most, especially startup RIAs will fully outsource compliance to a firm or they’ll hire a compliance consultant or firms that are big enough even will hire a CCO or repurpose someone on their team to be CCO. But compliance is much more streamlined and simpler than BD compliance. And ultimately, it’s compliance that’s being built for your business rather than compliance that’s being built for a publicly traded multinational company that supports 20,000 financial advisors. So I think compliance is always a big misconception. It’s definitely what a lot of firms will pry upon when they’re saying like, “Oh, you’re going to own all the legal and regulatory requirements. You could, but it’s definitely not a requirement.” And then I think another one is folks sometimes underestimate and overestimate the operational burden and how much work it is to start an RIA. Sometimes people just… They’re perfect for the RIA world, that’s their goal, but they get stopped in their tracks. They don’t really know what to do. But what we’ve seen, we said it earlier with so many different outsourcing solutions and different service providers that have popped up, if you have the fire in your belly to go build something, it doesn’t mean you’re doing it by yourself. I mean, that’s what firms like ours do. The custodians are very helpful. On the flip side though, I have seen advisors chasing payouts say, “Hey, I’m just going to go start an RIA because I want to make another 1 to 3%,” or whatever it comes to and they drastically underestimate what it really takes to build a successful firm. Joshua Tomolak: Exactly right. I think that’s my favorite one, Louis, overestimating and estimating the operational burden there is you could have the same conversation with two teams and it can go the completely different direction. Louis Diamond: Josh, let’s wrap here. I got one more question for you that I think is an exciting one, but give me three key trends or storylines that most people don’t know about or aren’t talking about that you’re passionate about or that you’re sharing with advisors or counseling today. Joshua Tomolak: Sure. This is the free advice portion. And I’ll tell you what, Louis, if it’s all right with you, I’ll give you two and I would love to hear one from you as well. The first one I’ve seen in both the independent broker-dealer and RIA space is the minority investor concept. A lot of folks will talk about the idea of taking chips off a table and starting to partially monetize your business. I think that’s all important, but what I’ve found is that a lot of advisors really want their partner, whether it’s an RIA broker dealer to help them grow. And that could be with M&A opportunities, that could be with traditional recruitment of advisors, that could be building a business plan. But the minority investment part really helps accelerate that for a lot of businesses because all of a sudden, not only are you cashing out a small part of your business, but you’ve just created an ally with the parent entity, it is now much more likely to help you grow in that capacity because they’re insulated from it and they profit when you profit. So I think it’s easy to be shortsighted and say, “Well, my equity’s going to keep growing. Why would I sell you a piece of this?” But I counsel folks often to really think about what that long-term strategic partnership is and making somebody a real equity partner rather than just a vendor that provides you with technology and regulatory coverage. The other one I’d say is that… And this one’s really important to me, that business formation is far more important than your assets under management. Said a different way, the way you build your business is going to make your business far more valuable than the number of dollars underneath your name. And what I mean by that is, just to use an example, a sophisticated, well-built, centralized, scalable and repeatable business, whether it’s an RIA with a broker-dealer that is going to fetch a far higher M&A multiple than a OSJ that’s five times the size that just has a bunch of 1099 independent advisors underneath the umbrella. What we’ve seen in the M&A space is that if you’re going to shell out 50, 60, $80 million for somebody’s business, you want to know that you have this business for the long term. So I would certainly counsel people that have been around maybe far longer than me to take a look at how you’re building this and put together a business plan on what those next 10 years should look like and not necessarily fall into the trap where your only revenue source is the override that you receive from a firm and then you in turn pay to the advisors on your team. Louis Diamond: Well said. I really like that line. We’d probably do a whole episode on what are the tips and tricks for building a business with the end in mind? Like the Covey quote, “Begin with the end in mind.” Transitions are like… They’re a bear. I mean, there’s no way to sugarcoat it. Advisors, when they hear transition, if you ask them, “Don’t think about it, give me your reaction.” “Terrible, risky, a lot of work. I’ll never do it again. My friend did it and it was terrible. What if my clients don’t come?” It’s all these negative emotions. And in many cases, I don’t blame an advisor because it is a big act. But to me, if someone is weighing making a transition, whether a wholesale business model change going from being an employee to being independent, going from being an advisor at an independent BD to starting an RIA, or even going independent BD to independent BD, it’s an opportunity if you rise to the occasion to build with this next act with intentionality. So whether it’s restructuring compensation for your team, converting people from 1099 to W2, putting in place new workflows, changing how investments, instead of it being each individual advisor doing investments to more of a centralized model, cleaning up workflows, really investing in data, investing in AI. It’s something that I think, again, we can have a whole episode on it, but I think it’s a great one. Build the business the right way. And obviously, businesses that are larger, theoretically, sell for more, but we’ve certainly seen businesses that are half the size of a larger one sell for a similar amount or more because they did all the right things and the larger one did the things that really turn off a buyer or detract from a valuation. Let me give you one more and tell me if you agree, but I think we’re in this moment when Altruist, the upstart, a new kid on the block custodian, they launched a basically tokenization of cash in a way to automatically agentically source or sort cash to the highest yielding money market. And you’re like, “This is fricking wonky. Louis, why are you telling us this?” I think this is an important one just to keep a watchful eye on. I have no idea how this is going to shake out, but really the biggest way that independent BDs or even custodians like Schwab and Fidelity really make money, it’s not on their overrides from practices or the admin fee or the custody fee. It’s really on net interest margin. So how much the broker-dealer or the firm is making on client cash and brokerage accounts relative to what they’re paying out the client. It’s essentially like free margin to these firms. And this concept, I think, has massive potential for disruption for the business model. Again, I don’t know what it’s going to look like, whether it means platform fees that are instituted at all these firms, whether it means certain models would be more beneficial than others, whether it means nothing’s going to change, which is probably the right answer given this industry. But it’s something to keep a watchful eye on just if your firm institutes a new platform fee or there’s a fundamental way in which your firm can no longer make money. How are they going to make it up? Are they now going to be uncompetitive? They’re not going to have as much scale or profits to invest in the platform. Is it going to cause even more consolidation in the industry? So to me, that’s the one pretty under the radar, pretty wonky storyline that I don’t think enough people are talking about, but has the biggest possibility for disruption across their space than anything I’ve seen in a while. Joshua Tomolak: Sure. That’s the whole iceberg. Not a lot of people are talking about it. It’s not poking out of the ocean, but it’s going to be continuously brought up. I think it’s a question that a lot of advisors are going to have to ask these firms. And at the end of the day, the firms aren’t the bad guys. They have to make money too to provide a quality product. So where the money comes from matters. Louis Diamond: Exactly. Josh, this has been awesome. I learned a lot talking with you and just having your objective consulting hat on what I think are really the differences between IBD and RIA and some of the key trends and storylines to watch has been instrumental. I’ll also give a plug that on our website and we’ll link to it in the show notes, we have a really helpful one-page reference guide going through the differences between independent BDs or IBDs and RIAs. So feel free to click on it. We’ll make sure it gets in your inbox. Josh, thanks again for joining us today. Joshua Tomolak: Yeah, thanks for having me, Louis. It was a pleasure. Mindy Diamond: As a financial advisor, you hold yourself to the highest standards of integrity, honesty, and credibility. You are successful because you take your professional responsibilities seriously and are dedicated to your clients. But are you living your best business life? Are your goals aligned with your firms or could a better option exist? Should I stay or Should I Go? is a book written with you in mind. It’s a self-guided journey that walks you through the key steps that we take with our advisor clients. This strategic thought process and roadmap to professional self-discovery is designed to help you ask the right questions and think critically and objectively whether you’re considering change or not. Learn how to get your copy at diamond-consultants.com/thebook. IBD vs. RIA: A Special Industry Update on Independence A conversation with Louis Diamond and Josh Tomolak, Vice President of Independent Advisor Services at Diamond Consultants.      Louis Diamond: Welcome to the latest episode of our podcast series for financial advisors. Today’s episode is IBD vs. RIA: A Special Industry Update on Independence. It’s a conversation with Josh Tomolak, our Vice President of Independent Advisor Services. I’m Louis Diamond, and this is the Diamond Podcast for Financial Advisors. Mindy Diamond: At Diamond Consultants, we help elite advisors identify the right environment for their businesses to thrive, whether that’s at a wirehouse, boutique, or independent firm. With nearly three decades of experience, we’ve guided thousands of advisors and represented more than a quarter of a trillion dollars in assets transitioned. And each year, one in four advisors managing a billion dollars or more who change firms are our clients. Our process is education driven and based on building relationships, starting as your strategic partner well before you’re even thinking of a move. To schedule a confidential conversation, call us at (908) 879-1002. Wondering why advisors change firms and where they’re headed? Are transition deals going up or down? Those very questions and more inspired us to create our annual advisor transition report. It’s the award-winning data-driven resource designed for advisors that connects the dots between the motivations around movement and the firm’s appetite for top talent. Arm yourself with the knowledge you need to make smart decisions. Download your copy at diamond-consultants.com/transitionreport. Louis Diamond: For a long time, going independent would suggest the destination. Today, it’s often the beginning of a different conversation. As the independent space has matured, advisors have more choices than ever before. Broker-dealers have expanded their capabilities. The RIA ecosystem has become increasingly sophisticated. Capital is more readily available and support models now exist that would’ve been difficult to imagine a decade ago. The result is that many advisors who are already independent are taking a fresh look at whether their current affiliation still aligns with what they’re trying to build. My guest is Josh Tomolak, Vice President of Independent Advisor Services here at Diamond Consultants and our resident expert on independence. Josh spends his days helping advisors evaluate independence in all its forms from independent broker dealers, the fully independent RIAs and everything in between. And his knowledge is critical because the distinction between these models is often blurred. Many broker dealers now offer pathways to greater autonomy while supported independence has made RIA ownership more accessible than ever before. So the question is no longer simply, “Do I want to go independent?” The question is, “What kind of independence makes the most sense for client, business, and go

Venture into the shadowy realms of power and secrecy with Already Dead, where hosts Jose Galison (@towergangjose) and Austin Picard (@theatrethugawp) dissect the intricate web of conspiracy, covert operations, and the underlying political machinations that might just be pulling the strings of our society.What to Expect: Live Listener Interaction: Call in to share your theories, ask burning questions, or discuss personal experiences related to the topics at hand. In-Depth Explorations: Each episode focuses on a different conspiracy or hidden aspect of political history, offering a platform to question and analyze what's often left unsaid. Thought-Provoking Guests: We invite individuals with insider knowledge or those who've taken the red pill to discuss topics that range from the fringe to the forefront of conspiracy culture. Critical Analysis of Current Affairs: We don't just report on events; we interpret them through the lens of parapolitics, looking for patterns and hidden agendas.Join Us: Every Tuesday at 9:30 PM ET, dive into the depths of the unknown with us. Subscribe, participate in our live call-ins, and be part of a community that seeks to understand the world beyond the surface narrative.Disclaimer: This podcast thrives on speculation, hypothesis, and the examination of alternative theories. It's meant to provoke thought and encourage personal research. Not all discussed is proven fact, but rather a call to question, explore, and understand. Warning: For those not ready to challenge their worldview, tread carefully. Once you enter the world of Already Dead, you might find that the truth is often already dead to the uninitiated. Welcome aboard, where curiosity is your guide.Please consider supporting our work- Austin's Patreon: https://www.patreon.com/c/TheUnderclassPodcastAustin's Spreaker: https://www.spreaker.com/podcast/the-underclass-podcast--6511540Austin's Rumble: https://rumble.com/user/TheUnderclassPodcast Austin's YouTube: https://www.youtube.com/@TheUnderclassPodcast#ChristopherNolansBrother #MatthewNolan #MatthewMcCallOppenheimer #HollywoodHitman #LindseyGrahamsFuneral #ZionistWarPigs #LauraLoomer #SkyFallDroneFacility #DroneDeathConspiracy #UkraineWarEscalation #IranWarEscalation #MemorandumofUnderstanding #MaximumPressureCampaign #DavidBerkowitz #SonOfSam #MindControl #TheRipperCrew #SatanistSerialKillers #JohnWayneGacy #KillerClownBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-underclass-podcast--6511540/support.

Origins hosts Nick Chirls (GP, Asylum Ventures) and Beezer Clarkson (LP, LGT Capital Partners) unpack their recent conversation with Thomas Kristensen, Beezer's new colleague at LGT Capital Partners. They discuss what it actually takes to merge investing teams, why the endowment model still matters, and how a platform built on 700+ years of institutional history changes how you think about surviving venture cycles.For a monthly roundup of the latest venture insights, including the newest Origins episodes, subscribe to the OpenLP newsletter – delivered straight to your inbox: https://subscribe.openlp.vcCHAPTERS:[00:00] Welcome to Origins[00:44] Thomas Episode Takeaways[01:06] LP "Co-Founder Dating" - How Beezer & Thomas Built Alignment[01:42] Culture Fit Without the Questionnaire[04:35] Surviving Venture Cycles[06:24] The Endowment Model Revisited[07:41] Why LGT's Longevity Is a Competitive Advantage[09:38] What LPs Should Offer GPs Beyond CapitalLearn more about OpenLP: https://openlp.vcLearn more about Asylum Ventures: https://asylum.vcLearn more about LGT Capital Partners: https://www.lgtcp.com

This week on Swimming with Allocators, returning guest Chris Schelling of Aksia joins Earnest Sweat and Alexa Binns to unpack how AI, private markets, and the wealth channel are evolving. They discuss where AI may already be in bubble territory, how it's reshaping SaaS, services, and investment processes (including AI “agents” on investment committees), and why some SaaS and low-value information services are most at risk. Chris explains Aksia research-driven approach across private equity, private credit, real assets, and hedge funds, and shares why he's skeptical of layered SPV “sandwiches” and headline-driven fear around private credit. The conversation explores the democratization of alternatives for wealthy clients, the role of content as a strategic edge for allocators, challenges in structuring venture access products, and why early-stage technical venture and quantum computing are compelling. Chris closes with advice for newer professionals: in a world of AI tools, differentiated relationships, networks, and deep domain expertise matter more than ever. Also, Nick Cassin explains how Sidley's secondary practice spans multiple asset classes and deal types, highlights the growing role of secondaries in venture (including GP‑leds and LP trades), and shares how Sidley's breadth, commercial mindset, and experience help clients navigate complex liquidity and continuation vehicle structures. Highlights from this week's conversation include: Chris Schelling Returns & Aksia Career Move (0:13) Why To Be Skeptical of AI Valuations & Bubbles (2:26) How AI Is Reshaping SaaS, Services, and Credit (6:48) Using AI for Diligence, Memos, and Investment Committees (11:29) Behavioral Coaching and Training Analysts With AI (15:06) SPVs, SPV “Sandwiches,” and 2008-Style Layering Risk (19:58) Checklist Ideas for Evaluating SPVs and Access Claims (29:24) How Mega RIAs Are Building Private Markets Platforms (36:38) Strategic vs Tactical Allocations Across Private Markets (41:38) Product Diversity Needed Across RIAs and Client Segments (44:08) Segmenting Venture: Seed, Growth, and Late Stage Dynamics (47:52) Crystal Ball on Venture, Deep Tech, and Quantum Computing (49:39) Skills for Young Investors: Networks, Relationships, and Domain Expertise (54:22) Where To Read Chris's Research and Writing (55:13) Aksia is a global private markets investment advisory and research platform with deep expertise across private equity, private credit, real assets, and hedge funds. The firm advises institutional investors globally and also manages discretionary capital through customized funds-of-one, co-investment vehicles, fund-of-funds, and wealth-oriented private markets solutions. Aksia is known for its open architecture model, broad GP relationships, and rigorous diligence culture across alternative assets. Sidley Austin LLP is a premier global law firm with a dedicated Venture Funds practice, advising top venture capital firms, institutional investors, and private equity sponsors on fund formation, investment structuring, and regulatory compliance. With deep expertise across private markets, Sidley provides strategic legal counsel to help funds scale effectively. Learn more at sidley.com. Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies.  The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only. Learn more about your ad choices. Visit megaphone.fm/adchoices

"The answer to every problem is a model."Parag Agrawal shares the ideas behind Parallel: products that continuously learn, and teams designed around versatile problem solvers.He also shares why he built an AI agent for himself, anyd why AI's biggest opportunity is expanding what people can achieve.Guest: Parag Agrawal, founder and CEO of Parallel, and former CEO of TwitterConnect with ParagXLinkedInConnect with MamoonXLinkedInConnect with JoubinXLinkedInEmail: grit@kleinerperkins.comFollow Grit on: LinkedInX​Learn more about Kleiner Perkins

Scott Stirrett, founder and former CEO of Venture for Canada, a national charity that helps young Canadians launch their careers through entrepreneurial opportunities, training, and mentorship.Through his work in career development, entrepreneurship, and writing, Scott helps young professionals build the practical skills, self-compassion, and resilience they need to navigate uncertainty and turn it into an advantage.Now, Scott's journey from leaving Goldman Sachs at 22 with no backup plan to building an $80M national organisation and later writing a bestselling book demonstrates what it looks like to lead through uncertainty rather than wait for it to disappear.And while speaking openly about the personal cost of growth, including his experience with OCD, burnout, and rebuilding resilience, he's helping others create careers that are both ambitious and sustainable.Here's where to find more:Website: https://www.scottstirrett.com/ Past interviews & media: https://www.scottstirrett.com/mediaandwritingLinkedIn: https://www.linkedin.com/in/scottstirrett/ ________________________________________________Welcome to The Unforget Yourself Show where we use the power of woo and the proof of science to help you identify your blind spots, and get over your own bullshit so that you can do the fucking thing you ACTUALLY want to do!We're Mark and Katie, the founders of Unforget Yourself and the creators of the Unforget Yourself System and on this podcast, we're here to share REAL conversations about what goes on inside the heart and minds of those brave and crazy enough to start their own business. From the accidental entrepreneur to the laser-focused CEO, we find out how they got to where they are today, not by hearing the go-to story of their success, but talking about how we all have our own BS to deal with and it's through facing ourselves that we find a way to do the fucking thing.Along the way, we hope to show you that YOU are the most important asset in your business (and your life - duh!). Being a business owner is tough! With vulnerability and humor, we get to the real story behind their success and show you that you're not alone._____________________Find all our links to all the things like the socials, how to work with us and how to apply to be on the podcast here:https://linktr.ee/unforgetyourself

Nantucket whaling was the 5th biggest industry in America… and it became today's Venture Capital.OpenAI's model escaped from its cage and hacked someone… But Meta says “it's all good”.Summer Fridays was the 1st skincare brand to go viral… but now it's done with virality.Plus, 0.00004% of us are Wakemaxxers… Japan's Prime Minister sleeps 3hours/night, Da Vinci slept zero.$META $LVMUY $SPYGrab your Tickets to the IPO Tour: Our In-Person OfferingSan Francisco 9/23: https://www.ticketmaster.com/event/1C0064AFB5F688BDBoston 10/14: https://tickets.citywinery.com/event/tboy-the-ipo-tour-in-person-offering-8cdhupSeattle 11/4 (21+): https://www.axs.com/events/1446394/the-best-one-yet-ticketsNEWSLETTER:https://tboypod.com/newsletter OUR 2ND SHOW:Want more business storytelling from us? Check our weekly deepdive show, The Best Idea Yet: The untold origin story of the products you're obsessed with. Listen for free to The Best Idea Yet: https://wondery.com/links/the-best-idea-yet/NEW LISTENERSFill out our 2 minute survey: https://qualtricsxm88y5r986q.qualtrics.com/jfe/form/SV_dp1FDYiJgt6lHy6GET ON THE POD: Submit a shoutout or fact: https://tboypod.com/shoutouts SOCIALS:Instagram: https://www.instagram.com/tboypod TikTok: https://www.tiktok.com/@tboypodYouTube: https://www.youtube.com/@tboypod Linkedin (Nick): https://www.linkedin.com/in/nicolas-martell/Linkedin (Jack): https://www.linkedin.com/in/jack-crivici-kramer/Anything else: https://tboypod.com/ About Us: The daily pop-biz news show making today's top stories your business. Formerly known as Robinhood Snacks, The Best One Yet is hosted by Jack Crivici-Kramer & Nick Martell. Hosted on Acast. See acast.com/privacy for more information.

#733: Venture fund managers can collect years of fees before a single dollar comes back to investors — and the bar to hand over your money is lower than you'd think. David Bell spent 20 years as a chaired professor at Wharton before co-founding the venture firm Idea Farm Ventures, where he's backed early-stage brands like Bonobos, Warby Parker, and Jet.com. In this episode, we discuss: How venture funds actually make money, and why nearly every one runs on the same fee formula Why fund managers get paid before they've invested anything Why the bar to invest in risky private deals is lower than you'd think What to ask before trusting any fund manager with your money The one red flag that should make you think twice about an eager fund manager How some investors make an all-or-nothing bet on a single breakout company Why taking outside money can quietly change what a founder is optimizing for Whether you're weighing becoming a fund investor yourself or you're a founder deciding whether outside money is worth what it costs, this episode gives you a clearer read on how the venture world actually works. ⏱️ TIMESTAMPS Note: Timestamps may vary slightly depending on dynamic ad placements. (03:41) How venture capital actually works, in three tiers (06:09) The fee formula nearly every venture fund runs on (10:30) Why fund managers get paid before they invest anything (14:19) The surprisingly low bar to invest in risky deals (26:52) What to ask before trusting any fund manager (29:27) How investors make an all-or-nothing bet on one company (34:33) The red flag hiding in an eager fund manager (42:16) What separates a great fund manager from a mediocre one (48:10) How outside money quietly changes what a founder optimizes for (55:47) Why kids today may never remember life before AI

Nearly 3 decades ago, the CIA became a venture capitalist. One of its early bets was a surveillance company named after an all-seeing stone from Lord of the Rings. That company's founder now hosts an annual secret gathering of the most powerful people in the world. And, of course, an infamous dead sex trafficker had the invitation. This week's episode is In-Q-Tel: The CIA's Silicon Valley Venture.Click here for this week's show notes.Click here to sign up for our Patreon and receive hundreds of hours of bonus content.Please click here to leave a review and tell us what you think of the show.CRIMEWAVE AT SEA 2027 is happening Feb. 8-12, 2027!  Tickets on Sale: Feb. 13, 2026  Get $100 off your stateroom and a private meet and greet with us!  Go to http://crimewaveatsea.com/SINISTERPlease consider supporting the companies that support us!-To grab your PAKA hoodie, go to WWW.PAKAAPPAREL.COM.-To get your new wireless plan for just 15 bucks a month, go to www.MINTMOBILE.com/sinisterhood.-To explore pet insurance coverage, visit ASPCApetinsurance.com/CREEPY. -Hero Bread is offering 10% off your order. Go to hero.co and use code CREEPY at checkout.

Are we living in an economic hell disguised as capitalism? Author Charles Hugh Smith joins me to expose the "ultra-processed" economy and how government monopolies have completely destroyed the free market.  We are two generations deep into a system of regulatory capture, endless spending, and Federal Reserve market distortions. The result? "Venture socialism" and privatized totalitarianism where massive corporations no longer must compete for your business, driving up costs while quality of life regresses. Smith dives deep into how government monopolies, the decay of the moral order required for capitalism to function, and a corrupt political class have created a centralized economy that is now privatized totalitarianism.  Learn more about your ad choices. Visit megaphone.fm/adchoices