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 then they get stuck on that and they never progress forward and then miss the boat on getting the tax benefits.

So I think a lot of the preparation is actually sort of psychology, philosophy, family values, whatever you want to call it, have all that.

thought out so that when it comes time to structure things you already know yeah my my you know my niece molly is going to get x amount and she's going to get when she's 40 and and here's going to be the trustee that controls that and so on and so forth if you don't have those basic things thought out trying to structure the trust itself is not the difficult bit it's it's these things you define inside it for a difficult bit what are the biggest mistakes that people commonly make

Well, I think the biggest one is they don't think about this.

And then at the last minute, they try to sort of build all this and run all these roadblocks, which are, again, complicated discussions they have to have as a family, as a broad family, and to think about these things.

And they're not ready to do that.

They haven't thought about it and they don't have the time to do that.

And so then they drop the ball in terms of getting these things done.

Yeah.

So, I mean, this sounds really trivial, but at the end of the day, be prepared.

And so some people come and are very prepared and they have this sort of family values document they wrote out that they all agreed on about how the inheritance is going to work and who gets what and what the inheritance is for.

Some of you are very prepared and that makes life a lot easier, right?

So I think, you know, wealth managers, asset managers, it's very self-serving for them to say, hey, you should liquidate everything because obviously they can't they're not going to charge you fees on your your your concentrate position.

It's your stock.

You brought it to the table, but they will charge you fees if they build you a stock or a bond portfolio or private equity portfolio.

Right.

So it's self-serving for them to say to you, no, liquidate everything because you should diversify.

get out now i think the statement you should diversify i mean to some degree you probably should for rainy day but the degree to which you do that becomes a personal preference i can't i can't put myself in your shoes some people are very risk averse so they want to get out of everything as fast as they can others um you know really want to ride the the wave of the company history has shown that hanging on to your stock

Generally speaking, not always.

There are counterexamples, of course, to everything.

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