Money Stuff: The Podcast Law is Law: DXYZ, MNGO, BLS
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Apr 12, 2024 In a lively discussion, hosts delve into the Destiny Tech 100 Fund, highlighting its valuation challenges in today's volatile market. They tackle the complexities of DeFi trading, including a clever exploit on Mango Markets that raises ethical concerns. The conversation shifts to the ongoing BLS controversy, scrutinizing access to inflation data and the implications of 'super users' on market fairness. Along the way, they sprinkle in some amusing anecdotes, including a playful nod to fake Cormac McCarthy.
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Destiny Tech 100 Fund
- Destiny Tech 100, a publicly traded fund, invests in private tech companies like SpaceX and Stripe.
- Its stock price has surged to a 1,000% premium over its net asset value.
Addressing the Premium
- Sohail Prasad, CEO of Destiny, could issue more shares to potentially reduce the premium.
- This would allow him to buy more private tech stocks, aligning the fund closer to its marketed purpose.
Private Market Demand
- The surge in Destiny's popularity reflects the growing interest in private tech companies, driven by the perception of missed growth opportunities in public markets.
- This demand ironically inflates private valuations, potentially negating the benefits of early investment.