Kelly Rodriques

speaker

174 appearances 2 recordings 2 series first heard Jun 2026 last heard 7 Jun

Kelly Rodriques’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 2 in all, peaking in Jun 2026 with 2.

Appearances

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All-In with Chamath, Jason, Sacks & Friedberg · Inside the Private Stock Market Boom: SpaceX, Anthropic, OpenAI & the Rise of Secondaries · 7 Jun 2026 podcast

Because if you look at the underlying value of some of the assets in those closed-end funds, they have no bearing to reality of what those underlying shares are actually worth.

So price discovery is another key component of this structural shift.

But to answer your question specifically, if a VC's, LP's want to recycle or want to get liquid,

then a platform like this will allow them to recycle that capital and put it back into the next vintage fund if they want.

So there's been secondary fund trading for a long time.

I think blockchain and tokenization makes it more efficient.

That world will come.

But the question we're asking ourselves now is, if you're an LP in a fund that's holding something as valuable as this, are you really interested in trading your fund position or do you just want to get out of

The big winner, that name.

And our view is it's probably the latter.

And in some cases, funds will come to us and say, we've got a vintage fund that has two companies in it that are 15 years old and we can't clear that fund.

And so that's an application of liquidity to the market that we think is coming to the market.

I was talking with Brad about this yesterday.

We're watching these valuations and these multiples.

We had this conversation at dinner last night and saying, wow, these are extraordinary and people should come into this market and not look... Extraordinary is a coded word for...

Elevating.

Okay, fine.

It's a bubble, call it what it is.

I think the retail investor coming into this space needs to look down market and look at interesting opportunities that aren't the things that are on CNBC every day and have access to them earlier.

And we had a bunch of retail investors show up in 2018 and 2019 that wanted to be in SpaceX.

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