Michel Del Buono

speaker

515 appearances 1 recordings 1 series first heard May 2026 last heard 22 May

Michel Del Buono’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in May 2026 with 1.

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Sourcery · Inside Marc Andreessen & Ben Horowitz's Multi-Family Office (Part II) · 22 May 2026 podcast

And that's where having a multidisciplinary kind of background is really important because each of those silos doesn't know enough about the other one to trade them off.

Right.

And so that's, I think, something that's very much overlooked because sometimes just barreling down the, I need a bunch of trusts and doing all this stuff is not necessarily better than having a tax loss generated investing strategy that doesn't require you to do all those trusts.

Right.

And that trade-off is not obvious to figure out and navigate.

Well, I mean, so if you're a founder of a company, right, your basis, the price which your IRS uses to assess your stock is zero, right?

So that means 100% of your gain is subject to at least long-term capital gain tax, which, you know, depending on the state you're in, can be upwards of 35%, right?

If you're in a non-tax state, then you just have the federal, which is, I think, 23.8%.

So either way, you're talking about a lot of money.

And trust and estate attorneys love to say that there's really only three places your money can go, right?

It's your family, it's charity, and it's the IRS.

It's generally speaking, I don't know anyone who prefers the IRS, right?

Maybe there is some of it, right?

So as a result, everyone's trying to avoid that.

And that's where either these investment strategies come in, these trusts, the trusts are really for your family, or then the charity element, which is a

kind of a trust in some ways.

It's putting money somewhere else that you can't access personally, but it still removes it from your taxable base.

Yeah, yeah.

So you're probably gonna have several trusts.

Again, full disclosure, I'm not an attorney, right?

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