Michael Beebe

What's the fast river in alts? Listen to the latest Alt Goes Mainstream podcast with Mercer's Gregg Sommer & CAIS' Neil Blundell to hear how they are helping advisors approach private markets. Gregg, Neil, and I had a fascinating discussion about how the wealth channel can approach alternatives and how they can think about both diligence and customization. We covered: * The case for alternatives. * How advisors currently approach alternatives and how they can think about it differently going forward. * How to think about portfolio construction that includes alternatives. * How alts can help advisors differentiate their practice and attract clients. * Following the fast river in a career and why alternatives are “the fast river.” * The meaning of “structure over strategy.” * The rise in popularity of evergreen funds. Thanks Gregg and Neil for sharing your thoughts and expertise on private markets. Thanks to our sponsor, Ultimus Fund Solutions, for making this episode possible. https://lnkd.in/eBtyw6Fm

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🧱BRICS+ ACCELERATE 'THE UNIT' CHALLENGER TO KING 💵 🅰️ ARCADIA ECONOMICS (C. Marcus) interviews Eagle Forge (EF) Matt Riley about "BRICS-buck" aka "THE UNIT", long awaited (+ overdue!) challenger. 🇷🇺 🇨🇳SEEK TO REVALUE GOLD, create a parallel SWIFT-like system. "UNIT" a payments settlement ccy with a 40% gold backing. Not 100% (many BRICS members lack required Au reserves.) 6️⃣ 0️⃣ % REMAINDER TO BE backed by a pairing of strongest world trade fiats within the group. Smaller nations (e.g. Ethiopia) do fear being "drowned" by the majors, simply giving up one problematic system for another. 🌀STRATEGY TAKING SHAPE; anchored by resources (30-40% world oil supply), sheer number of BRICS humans (1.4 billion); three pillars: 1) DECOUPLE USD-PRICED Au and Ag from the new parallel system 2) RENDER "WESTERN" FIATS irrelevant by imposing "DIPLOMATIC, INFO, MILITARY and ECONOMIC" ("DIME") power-playbook 3) LEAVE ROOM FOR credit expansion, hence < 100% Au backing 🌎 POLITICS DRIVES FX vals, the "will" to transform the system. 🇮🇳🇨🇳🇷🇺 , front-running is the "everyone for themselves" factor; could scupper a unified "UNIT" front. Requires herculean geopolitical coordination to pull it off. 🇺🇸 COULD PRE-EMPT and revalue Au reserves first. Then, weaponize their "Strategic BTC Reserve". Matt thinks the latter is mere pandering (hodler votes). 📣 BOTTOM LINE, BRICS lack asymmetric warfare (comms force) to shift the narrative. Comms majors are all G7-based (FT, X, Reuters, NewsCorp etc) ‼️INTERESTINGLY, MATT RAISES the prospect of big bullion dealers being bought out by one or more BRICS/ proxies. Miles Franklin cited as one option. Informative Miles Franklin review from LinkedIn here: https://lnkd.in/gw5pKdsN #ArcadiaEconomics #BRICS+ #MattRiley #EFBullion #USD #TheUnit #monetary #commodities #gold #silver #MilesFranklin

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Wonderful article about Emily Knight and the whole The Engine Accelerator team on the amazing work their doing changing the world with #ToughTech!

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Markets talk. We listen. We've from heard from capital allocators (#VC, #PrivateEquity, #FamilyOffices....even #VentureStudios, #Incubators and #Accelerators) that due diligence is a bottleneck to deal flow. It's time-consuming, expensive and often, subjective. We've launched #VentureIQ by the 9point8 Collective to directly address this problem. VentureIQ is an AI-enabled diligence solution that provides rapid scale diligence reports with exceptional fidelity and demonstrable cost efficiency - all within a single business day. We're in our soft launch, now. So, if you want to gain back valuable time and expose the long tail of deal flow diligence, shoot me a DM or visit VentureIQ.ai.

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Late-stage VC funds are earning dismal returns relative to the S&P 500 and take little risk. So why are LPs continuing to fund them? What the heck is happening in VC and can we fix it? In his three-part series on why VC is dead, Joe Merrill condenses conversations he's had from leading money managers all over the world into what's happening in VC today. Read the first part here and stay tuned for part 2: https://lnkd.in/gmCMx6wR #vc #article #latestage #earlystage #learning

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One of the best podcasts that you will hear. Eric Weinstein, an accomplished business / hedge fund manager and just amazing thinker holds a master class in how to reason through a set of complex conversations. Some context here: Terrence Howard (yes the actor) came on Joe Rogan a little while ago, and did some very elaborate 'matching'. He very much comes across as a visionary, self-taught, self-reasoned through many complex ideas, bringing it all together with a vast web of historic scientific knowledge. Terrance launches into a set of core assumptions within the sciences, mathematics, physics and related topics. He tumbles through multitude of ideas from frequency, to energy, to wave theory, all very difficult to follow... but extremely compelling. Encyclopaedic knowledge, but a flow that is so rapid, and often superficial. For many casual 'scientists' and social media followers, it was like a red flag to a bull: and confirmed a narrative that 'they' (the scientific, trusted community) is lying to us, that they are not telling us something. That 'their' assumptions are wrong, but that there is a cartel of universities and institutions that is protecting it, and protecting their dominion over the sciences. This fed into Joe's common narrative that the modern scientific understanding of the world is incomplete and lacking: but more importantly that the institutions who guard this knowledge are themselves filled with political bias, making them fallible, and ultimate not trusted as much as they should be. (A lot of 'they' say this, or that.. not sure who 'they' are, except that they only have bad characteristics.) Enter Eric Weinstein, an accomplished thinker and just a superb communicator, takes Terrance through his own maze of ideas, and links between ideas, one at a time, carefully dissection the arguments. He leads this 'visionary' through his errors and discoveries,'What Terrance is doing here is... ' and sometimes he points out errors in reasoning, sometimes provides clarification, sometimes asks for clarification, but is always respectful, always careful, always thoughtful. He gives Terrance a lot of credit for his thinking, but also shapes and moulds it carefully. "You have a lot of desire to understand what it means. But before you think about it, you have to ask what it is" He delivers a masterclass in how to handle this kind of back-of-the-envelope science, that is so prominent in social media now. Terrance is in awe of him, as was I. This is where you see just an amazing capability of the human mind to reason through multiple avenues (often strange manifestation, with partial truths, and incomplete relationships), to question, to reason, to give room for each other in a very humane way. One of the best displays of human capability: both academic and the best humane characteristics, I have ever seen. #joerogan #podcasts #reasoning #human #conversation #rogan #weinstein #terrancehoward Eric Weinstein Joe Rogan

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We’re joining NY Tech Week for a second year, this June. It’s a panel discussion with Q+A. Bring your questions and insights. If you are experienced in BD / Corp Dev / M&A / Distressed Assets / PE: What are you seeing in the market in 2024 and how will this change in 2025? What are common mistakes that founders and investors make, and how to avoid them? If you are a founder: How do you plan for selling your startup at a successful exit or at a distressed price? If you are an investor as an angel / emerging manager / VC / PE / secondaries: What do you do to best support your founders? Last year, we had 50 seats and 500 people sign up. We are very grateful to have your interest in joining our conversation this year. https://lu.ma/4950c6z2

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https://lnkd.in/epW-S5CY Well worth a read. A very thoughtful market based piece by Alison Grantham on a concerning trend.

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My colleagues at BIP Capital work hard to meet the private market investing needs of HNWIs and the RIAs who serve them. The potential for compounding returns is a critical consideration, so we've put together a short, straightforward explanation of what they are and how they work. We also want to help our clients understand how evergreen funds like the BIP Ventures Evergreen BDC encourage compounding returns. Because they offer patient capital and reinvestment opportunities, evergreen funds can move high-performing portfolio startups to optimal outcomes. That's good for investors who are willing to take a longer view. If you want to get the inside knowledge on this important topic, check out our "Expert Guide to Compounding Returns with Evergreen Funds." https://lnkd.in/efXAbibV BONUS: If you're an RIA, join us for a brief informational session tomorrow (June 11th) at 2:00 pm EST. You'll get useful information from some of the most seasoned, intelligent authorities in private market investing. Mark Flickinger Phil Davidson #CompoundingReturns #EvergreenFunds #WealthManagement #LongTermInvestment #PrivateEquity #HNWIs #FamilyOffices #RIAs #BIPCapital #BIPVentures 📣 BTW, webinar seats close EOD today, so grab yours now. (Shhhhh.... if you miss it, DM me and I'll be glad to help you out.) https://hubs.ly/Q02B7zL40

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Too many small and mid-sized businesses struggle with capital constraints out of fear and misunderstanding. Sourcing the capital required to remove those constraints is key to unlocking the value creation potential of these companies. https://lnkd.in/gRYTKEmN #smallbusiness #businesstransformation

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How does an institutional LP decide which GPs to back? UTIMCO alum (and now partner at Foundry) Lindel Eakman opened up about how he picks on Samir Kaji's Venture Unlocked podcast 👇 (episode linked in comments) 🎣 "Would you trust them with your children?" Questions like this one tend to elicit genuine reactions and a real sense of a GP’s character and capabilities. Non-answers or silence in response to a pointed question like this one can be telling. 🤨 "Who fires who?" Questions like this help him evaluate governance and conflict resolution dynamics and the overall stability of the partnership. 1️⃣ Unlike some LPs, Lindel is very open to backing solo GPs. One of the reasons being that partnership risk -- which is one of the biggest when investing in VC funds -- is by definition, eliminated. 👍🏻 Lindel shies away from backing investors who may have potential to be top performers but are divisive or unpleasant to work with. Life is too short! Follow me - John Gannon - to learn more about the ins and outs of the VC market from all 3 sides of the table.

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Speaking with customers (listeners in Noa’s case) is one of the most rewarding parts of the job. The feedback is a healthy mix of positive, constructive and negative. This week alone I’ve spoken with folks who shared that: the bit rate of our audio should be higher (..specifically the audio of a publisher who provides us with their narrations); AI narration lacks human intonation at times; they’re glad Noa exists since a competitor of ours pivoted; we should add Read Along on web; and so on. And in between the feedback you get to know people. One of them has ancestry in Ireland and plans to visit a few spots at my suggestion next time he returns. But one email really stood out to me recently. And with the permission of the listener who shared it, I am posting a screenshot here (..personal info out of shot). For context, we ask Premium members whether they would be disappointed if Noa no longer existed. Some are indifferent (a minority, thankfully); some are ‘somewhat disappointed’; some ‘very disappointed’; and some (like in this case) go an extra mile to share their experience. I love that this listener puts the insights gained on Noa to good (and immediate) use. In their household, Noa is a conversation starter and an empowering tool/service. This is why we created Noa. To help people gain new and valuable insights. Some keep them close to their chests. Some share them. There is no right or wrong. The power and value is in knowing and it’s why I love quality journalism. As Warren Buffett has said on occasion, if he didn’t pursue his current career, he’d probably be a journalist. (N.B. Financial returns may differ…) Quality journalism really is empowering and we love working with many great publications to narrate their articles. And as can be seen here, our listeners really benefit too. As our listeners recognise and value, Noa doesn’t provide running commentary on the news. We instead share (curate) valuable and interesting insights, c. 50% of which are news cycle related but many of which are the sort of things you wish you knew 10 years ago, didn’t realise you needed to know (but are now better for it) or never had the time to look into. Happy listening! And a big thanks to all our listeners who take the time to share feedback - good and bad.

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Thrilled to be featured in ADWEEK’s recent article on the ad tech M&A landscape. The past 18 months have been a whirlwind – high inflation, rising interest rates, and global uncertainty put a damper on liquidity. M&A activity slowed, and fundraising became a challenge. However, I see the current chess moves as a prelude to consolidation. This will unlock cash flow and pave the way for more strategic M&A deals in the near future. Expect to see some “average” deals this year, but the market is resetting for a stronger 2025. Get ready for solid returns and a more dynamic ad tech landscape next year. Thanks to Catherine Perloff! https://lnkd.in/dg7PQ6eU #adtech #investing

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"SoFi announced access to three new private market funds through a relationship with Templum, which operates Templum One, a purpose-built platform for seamlessly accessing and transacting in private alternatives: The Cosmos Fund (with sole exposure to SpaceX) along with two additional private equity funds Pomona Investment Fund, and StepStone Group Private Markets Fund." #PrivateWealth #WealthManagement #RealAssets #PrivateMarkets #AlternativeInvestments #Alts #UHNW #HNW #FamilyOffices #IBD #RIA #PrivateInvestments #PrivateCredit #PrivateEquity #RealEstate

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The “long-term hold” strategy is one that has received an increasing amount of attention within the #ETA ecosystem of late: Instead of selling a company within 5-7 years of acquiring it, why might you choose to hold it for a much longer period of time? Why not hold it indefinitely?   To unpack the long-term hold thesis, I could think of no guest more appropriate than Zac Carman: Zac acquired ConsumerAffairs.com in 2010, and has been its CEO for the past 14 years. In our discussion today, among many other things, we unpack Zac’s long-term-hold strategy and discuss the extent to which it was deliberate or emergent, how he has managed liquidity requirements for both himself and his investors, the commercial and personal reasons why a long-term hold strategy makes sense for him, and if he thinks it makes sense for an entrepreneur to target a long-term hold strategy before acquiring their first company.   Please enjoy! https://lnkd.in/gZujiyxD

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🗞️ Breaking News: Red Ventures Selling CNET at a huge Loss❗️ Context: Red Ventures, the privately held digital media and marketing juggernaut based in Fort Mill, South Carolina, is selling CNET, one of the largest tech publishers on the web, to Ziff Davis for just $100 million. For context: Red Ventures bought CNET for approximately $500 million. Reason for the Sale: Total traffic to CNET has dropped by a staggering 50% over the last three years. The main driver behind this decline is a 68% drop in organic traffic (loss off Google rankings and traffic). Tables turned: This sale is a stunning turn of events for CNET, which once bought Ziff Davis (then a tech magazine firm) in a deal worth roughly $1.6 billion - more than two decades ago. Catch Up: - Ziff Davis trades publicly with a market value of $1.94 billion. The company lost about half of its marketcap over the course of the last 48 months. Strategic rationale: If Ziff Davis is able to ink a content licencing deal with Google, Bing/Microsoft or ChatGPT (or else e.g. X.AI) - like Reddit did - it might turn out to be a very smart deal …

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In the season finale of Brex's Controllers Classified podcast, BCV partner Sarah Hinkfuss spoke with Erik Zhou to discuss the VC investment landscape and how BCV approaches due diligence for growth-stage companies. For founders, there are three things that are important to share with investors: 1. Your unit economics, or how you think about your business drivers. It’s by far the most important thing today and those inputs (e.g. customer cohort data, gross margin, sales and marketing costs) give you a complete picture of the business. 2. Your business model, or how you think about your future. It doesn’t have to be a huge, complicated spreadsheet. Rather, it’s an important instrument to show people how you think about the business. What is your view of the future and what do you believe are the most important drivers of the business? 3. Your memo, or your narrative. A popular format today is to tell your story in a memo, not a deck, and it’s great because the writing process forces more complete thoughts to give investors a full view of your business and vision.

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