How I Invest with David Weisburd

Aaron Hodari, Managing Director at Schechter, shares his expertise in wealth management with a focus on alternative investments. He highlights the importance of tax-aware strategies, especially for ultra-high-net-worth individuals, discussing techniques like direct indexing for tax efficiency. The conversation explores innovative financing in private credit, the significance of teaching financial responsibility to future generations, and the advantages of interval funds in managing market volatility. Aaron's seasoned insights reveal how to navigate economic uncertainties while growing wealth.

Logan Allin, Managing Partner at Fin Capital, dives into AI-driven investing strategies that predict startups' success with remarkable accuracy. He discusses the importance of evaluating 'founder DNA,' revealing that prior CEO experience significantly boosts a startup's potential. Interestingly, he argues that elite degrees are overrated in predicting success. Logan also shares insights on focusing exclusively on fintech and how continuous data refinement enhances predictive models. Tune in for a glimpse into the future of fintech innovation through AI!

Brendon Parry, Head of Private Markets at TIFF Investment Management, specializes in crafting investment solutions for nonprofits. He shares TIFF's mission of supporting these institutions and dives into the complexities of private market investments. Parry discusses optimal strategies in lower middle market and venture capital, the importance of relationship-building with independent sponsors, and how to build an anti-fragile portfolio that can weather economic storms. His insights reveal the adaptive strategies that underpin successful long-term investing.

In this episode of How I Invest, I dive deep into a conversation with Charlotte Zhang of Inatai Foundation. Charlotte shares her approach to managing a $2.4 billion private investment program, the importance of market inefficiencies, and how she strategically builds GP relationships. We explore how Inatai identifies top managers, why LPs are increasingly interested in fundless sponsors, and what makes a great investment philosophy. Whether you're an LP, VC, or just curious about institutional investing, this episode is packed with insights on capital allocation, conviction-based investing, and long-term partnership building. Highlights: Building a $2.4 Billion Investment Program: How Charlotte structured Inatai’s approach without rigid asset allocation targets. GP Selection Strategy: The four P’s—People, Philosophy, Process, and Performance—that guide investment decisions. Market Inefficiencies & Innovation: Why Inatai prioritizes global opportunities in venture, buyout, and select real assets. Fundless Sponsors: Why LPs are increasingly backing fundless sponsors and the advantages of doing so. Investment Discipline: How to evaluate managers over time and avoid the pitfalls of FOMO-driven investing. Handling Market Downturns: The characteristics of managers who thrive in turbulent markets. The Role of LPs as Value-Added Partners: How LPs can help GPs beyond just providing capital. Diversification vs. Concentration: How Inatai balances a high-conviction portfolio while maintaining risk-adjusted returns. The Future of Inatai: How the foundation is expanding its impact through its outsourced CIO platform. -- Guest Bio: Charlotte Zhang is a Senior Portfolio Manager at Inatai Foundation, where she leads private investments within the $2.4 billion portfolio. She has previously held roles at Medley Partners and Iconiq Capital, developing expertise in manager selection, portfolio construction, and market inefficiencies. Charlotte is passionate about long-term investing, identifying top-tier GPs, and fostering meaningful LP-GP relationships. Our Podcast now receives more than 300,000 downloads a month. Are you interested in sponsoring an episode? Please email David Weisburd at dweisburd@gmail.com. #VentureCapital #VC #Startups #OpenLP #AssetManagement -- Stay Connected: X / Twitter: David Weisburd: @dweisburd LinkedIn: David Weisburd: https://www.linkedin.com/in/dweisburd/ Charlotte Zhang:https://www.linkedin.com/in/charlotterzhang/ Links: Inatai Foundation: https://inatai.org/ Questions or topics you want us to discuss on How I Invest? Email us at dweisburd@gmail.com. (0:00) Episode preview (1:20) Creating and executing a lower middle market PE strategy (3:39) Spending years on investment decisions and handling market downturns (8:08) Exploring interest in fundless sponsors and largest deals (11:09) Inatay team structure and the generalist team approach (13:17) Managing infinite opportunities and diversification strategies (16:38) Sourcing and adding value to GP relationships (21:30) Closing remarks

In this discussion, Matt Fitzpatrick, CEO of Invisible Technologies and former head of McKinsey’s QuantumBlack Labs, reveals the staggering fact that only 8% of AI models succeed in production. He dives into the critical data quality issues hampering adoption and emphasizes the importance of fine-tuning AI to meet enterprise needs. With real-world success stories from Moody's and Klarna, Matt outlines how human feedback is essential for training models. He also shares insights on the future of AI in transforming business processes and the innovative vision of Invisible Technologies.

In this conversation, Robert Cherun, co-founder of a highly successful security company, shares his journey from a $5M startup to a $150M industry leader. He dives into the mechanics of search funds and reveals how they've generated impressive net IRRs and ROI. Robert also discusses the barriers institutional investors face in this space and the essential traits of successful searchers, including financial acumen and leadership skills. His insights into scaling businesses and building a diversified portfolio are particularly captivating.

Discover how compounding extends beyond finances to enhance every facet of investing. Top investors leverage relationships and reputations, leading to swift decision-making. Learn how Warren Buffett's ethical standing creates a negotiating edge. Uncover the significance of proprietary information and how it fuels future successes. Explore the value of attracting 'A-players' and how investing in top talent bolsters organizational excellence. It's a fascinating look at building advantages in a competitive landscape!

In this episode of How I Invest, I interview Scott van den Berg, an expert in celebrity-founded brands and the managing partner of Hotstar VC. Scott shares deep insights into how celebrities are leveraging their platforms to build billion-dollar businesses and why some partnerships thrive while others fail. We discuss the shift in celebrity investments, the rise of creator-led brands, and key lessons from success stories like Ryan Reynolds' Mint Mobile, Kim Kardashian's Skims, and George Clooney's Casamigos. Highlights: Lessons from Ryan Reynolds: How he strategically invested in "unsexy" industries and built massive brand value. The Power of Celebrity-Led Brands: How stars like Kim Kardashian, Logan Paul, and Ryan Reynolds built billion-dollar companies. Equity vs. Cash Deals: Why traditional talent managers prefer cash over equity and how this impacts startup partnerships. Product-First Approach: The importance of having a strong product, even when backed by a celebrity. Celebrity Product-Market Fit: Why aligning a celebrity's brand with the right product is crucial for success. The Over saturation of Celebrity Tequila Brands: Why so many celebrities enter the liquor market and the real economics behind it. The Rise of the Creator Economy: How influencers are turning their massive audiences into thriving businesses. Avoiding Common Pitfalls: The biggest mistakes startups make when partnering with celebrities. -- Guest Bio: Scott van den Berg is the managing partner at Hotstar VC, a fund specializing in investments in celebrity and creator-led brands. With experience in 55 celebrity-founded businesses, Scott has worked with stars like Selena Gomez, DJ Khaled, and Jake Paul. His team includes co-founders of some of the most successful celebrity-led brands, such as The Honest Company and Feastables. As a thought leader in the space, Scott shares insights on how celebrities can build sustainable businesses and transform their influence into long-term value. Our Podcast now receives more than 300,000 downloads a month. Are you interested in sponsoring an episode? Please email David Weisburd at dweisburd@gmail.com. We’d like to thank @Carta and @Daloopa for sponsoring this episode! #VentureCapital #VC #Startups #OpenLP #AssetManagement -- Sponsor: At Carta, we’re on a mission to connect the participants in private capital — from investors and LPs to their portfolio companies — through a suite of financial intelligence and reporting software that’s purpose-built for venture capital and private equity. Since 2018, we’ve been empowering GPs, CFOs, and CEOs to escape obsolete systems of disconnected FP&A tools — all in favor of a single, unified software suite that helps them make impactful strategic decisions and deliver outstanding results for their investors. Learn more at: www.carta.com/howiinvest. Sponsor: Daloopa uses AI to provide the best fundamental data service for equity analysts globally. Daloopa empowers users to automatically update existing models and expedite new model builds so that users can spend more time on insights and ideas. Accurate data is central to all investment decisions and can influence speed and confidence for decision-makers. Daloopa believes that AI technology can improve clarity and efficiency for investors and financial markets. Learn more at: www.daloopa.com/how. -- Stay Connected: X / Twitter: David Weisburd: @dweisburd LinkedIn: David Weisburd: https://www.linkedin.com/in/dweisburd/ Scott Van den Berg: https://www.linkedin.com/in/scott-van-den-berg-22b534150/ -- Links: HotStar VC: https://www.hotstart.vc/ Questions or topics you want us to discuss on How I Invest? Email us at dweisburd@gmail.com. (0:00) Episode preview (5:01) Sponsor: Tactic Bicarda (6:20) Selecting and partnering with the right celebrity for a brand (9:09) Sponsor: The Loop (10:13) Navigating challenges with celebrity managers and agencies (13:10) Hotstar VC's methodology in celebrity-founded brand investments (16:43) Case studies of celebrity brand successes (18:31) Key takeaways from investing in celebrity-driven ventures (19:22) Closing remarks and upcoming episode teaser (20:15) Sponsor: Vanguard (23:45) Closing remarks

In this episode of How I Invest, I have a conversation with Scott Chan, Chief Investment Officer of CalSTRS, to explore how he oversees a staggering $350 billion in assets. Scott shares insights on CalSTRS’ collaborative investment model, their approach to private and public markets, and why they aim to be the "global partner of choice." We also discuss the importance of structural alpha, liquidity management, and identifying long-term supply-demand imbalances. Highlights: The Collaborative Model: How CalSTRS brings more assets in-house to lower costs and increase control over risk and alpha. Public vs. Private Markets: Why 80–85% of public market assets are managed internally while private investments rely on partnerships. Becoming the Global Partner of Choice: Why being a top three call for GPs is crucial for accessing the best private market transactions. Portfolio Allocation Strategy: How CalSTRS is shifting risk exposure toward private markets to enhance returns. Contrarian Investing: Scott’s view on why the stock market may underperform over the next decade and where he sees better opportunities. The Importance of Liquidity: Why liquidity will be "more valuable than gold" and how CalSTRS prepares for market downturns. Identifying Supply-Demand Imbalances: Where CalSTRS sees long-term opportunities, from real estate to private credit and infrastructure. Structural Alpha: How CalSTRS structures deals to generate uncorrelated alpha without taking additional market risk. Governance and Decision-Making: How a nimble, delegated investment approach allows CalSTRS to act quickly on opportunities. The Role of Team & Culture: Scott emphasizes why a strong leadership team is the ultimate competitive advantage. -- Guest Bio: Scott Chan is the Chief Investment Officer of CalSTRS, overseeing $350 billion in assets for over one million California teachers. With decades of experience in institutional investing, Scott has led CalSTRS in developing its collaborative investment model, focusing on cost efficiency, structural alpha, and strategic partnerships. His contrarian mindset and deep expertise help position CalSTRS as a global leader in asset management. Our Podcast now receives more than 200,000 downloads a month. Are you interested in sponsoring an episode? Please email David Weisburd at dweisburd@gmail.com. We’d like to thank @JuniperSquare for sponsoring this episode! #VentureCapital #VC #Startups #OpenLP #AssetManagement -- Sponsor: Juniper Square is dedicated to transforming the private markets investing experience. The company provides a full range of modern, connected fund technologies and services for over 2,100 private markets GPs across fundraising, reporting, fund administration, treasury, compliance, and business intelligence. Today, over $1 trillion of assets and 600,000+ LP accounts are managed through Juniper Square software and fund administration services. Learn more at www.junipersquare.com. -- Stay Connected: X / Twitter: David Weisburd: @dweisburd LinkedIn: David Weisburd: https://www.linkedin.com/in/dweisburd/ Scott Chan: https://www.linkedin.com/in/chanscott/ Links: CalSTRS: https://www.calstrs.com/ Questions or topics you want us to discuss on How I Invest? Email us at dweisburd@gmail.com. (0:00) Episode preview (1:09) Introduction to CalSTRS and collaborative investing (2:11) Public vs private markets and global partnerships at CalSTRS (5:26) Public and private market investment strategies (7:03) Collaborating with private managers and selecting GPs (11:41) Contrarian thinking and current investment focus (17:13) Liquidity management and market opportunities (18:19) Sponsor: Juniper Square (19:43) Liquidity options and alternative asset opportunities (21:31) Market crisis preparation and governance structure (26:30) Exploring structural alpha and capital base implications (31:20) Leveraging supply-demand imbalances in investing (35:58) Personal alignment and development as a CIO (40:29) Closing remarks

In a riveting discussion, Balaji Srinivasan, former CTO of Coinbase and a leading thinker on crypto governance, dives into the emergence of 'network states' as modern nations. He argues that the internet is set to overshadow traditional superpowers. Balaji also explores Bitcoin's impressive growth against fiat currencies and its potential as a new monetary system. Additionally, he addresses how decentralized governance is evolving through DAOs, offering a glimpse into a future where online communities redefine democracy and societal structures.