Telis Demos

speaker

290 appearances 5 recordings 1 series first heard Aug 2025 last heard 2 Aug

Telis Demos’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 3 in all, peaking in Aug 2026 with 1.

Appearances

newest first · ▶ plays the moment

WSJ What’s News · The Buried $150 Billion Bet Inside the Top 20 U.S. Stocks · 2 Aug 2026 podcast

So what's an example of that? voice-verified

What's an example of like a big public company that plays VC essentially, right? voice-verified

And buys stakes in private companies. voice-verified

Who owns Anthropic? voice-verified

Like what big public? voice-verified

So when I have my S&P 500 index fund, which is over in there, appropriately indexed, but very heavily weighted toward these companies, I'm getting that exposure as well, right? voice-verified

All those biotech. voice-verified

These are the ones that everybody wants in on. voice-verified

And what scale are we talking about here? voice-verified

Like if you own some of those names, what percentage of your portfolio would you then – if you kind of think about that on that basis, what percentage of your portfolio is then invested in? voice-verified

And is this a new thing or is this something that you've kind of always gotten with your exposure to the largest companies? voice-verified

Like how much of the returns of... voice-verified

public companies over the years have been driven by, you know, the stakes that they might take in new ventures and things like that? voice-verified

And it sounds like you guys are saying that if you're going to diversify, there are cheaper ways to do it than, like you guys said, there are so many frictions and costs associated with, and it's difficult to get a broad spectrum of private companies. voice-verified

Yeah, absolutely. voice-verified

I want to cut back to this return point, but we should also take a quick break. voice-verified

And when we come back, I do want to ask you, Spencer, about something you were writing about recently, about the impact of these private companies on the earnings of the companies that we all know and love and have staked our retirement to, the NVIDIAs and Alphabets of the world. voice-verified

So we're going to take a quick break and come back for more with Caitlin Hendricks and Spencer Jacob. voice-verified

Welcome back. voice-verified

So, Spencer, you in the Markets AM newsletter, which is free and tremendous. voice-verified

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