October 6th, 2023 - This Week in Alternative Investments

FTX co-founder Sam Bankman-Fried is facing 115 years in federal prison


Bite sized market updates

FTX co-founder Sam Bankman-Fried’s trial has begun. He is facing seven counts, including securities fraud, wire fraud and money laundering, in a trial expected to last six weeks.

The residential real estate market is worth a record $52 trillion. This represents a 49% gain over pre-pandemic levels.

Greylock announced a $1 billion early-stage venture fund. It will focus on “AI-first” companies in pre-seed, seed and Series A stages.

A 55-year scotch sold for over $685,000. The 1962 Bowmore STAC is more a work of art than a bottle of whiskey.


IPO Season is back!

Recent IPOs from Instacart, Klaviyo, and Arm have opened the door to more startups going public in the coming months.

Sandhill Markets opens up access for accredited individuals to invest in Pre-IPO companies like Stripe, Anthropic and Epic Games. How does it work?

Auctions. We don’t set the price. You and other investors do. Databricks’ last round was at ~$73/share. Rippling’s last round: ~$43. Flexport’s last round: ~$14. Bids for all of these start at $1. New auctions every week.

This week's auction is Epic Games! 🥳. Check auction prices here.

Smart Humans Podcast

Smart Humans explores the world of alternative investments. From Venture to Collectibles, Real Estate to Art and beyond - we discuss a new world of investment opportunities and the catalysts that impact their demand.

In this episode, Slava Rubin talks with Congressman Patrick McHenry about driving innovations in fintech, navigating regulations, and getting more access for investors.

Market Updates

Sam Bankman-Fried is on trial for his role in the FTX implosion. The jury has been selected and opening arguments have been made, and three of his former co-workers are expected to testify against him in a trial expected to last six weeks. He faces seven counts of fraud and conspiracy and a potential jail sentence of up to 115 years. This is just the first trial for the disgraced former-CEO, as a second trial on five additional charges is currently scheduled for next March.

The total value of the U.S. housing market has risen by 49% since the pandemic. Zillow reports that the total value of residential real estate in the country has hit a record $52 trillion, a rise of $2.6 trillion in the past year. This is due both to rising prices and the rising pace of new home construction. Florida has now surpassed New York as the 2nd most valuable state, and Miami cracked the top five markets, behind New York City, Los Angeles, San Francisco and Boston.

VC firm Greylock closed a $1 billion AI venture fund. Famous for early investments in Facebook, AirBNB and Coinbase, their 17th fund will focus on pre-seed, seed and Series A rounds. They will be investing only in AI companies, though they do believe that “every company will become an AI company” so that will give them some leeway.

The only bottle of 1962 Bowmore STAC ever produced sold for $685,000. The 55-year scotch is the oldest ever produced by the Islay-based distillery and comes in a custom-made bottle that evokes a fine art sculpture. It was one of five six-figure sales in Sotheby’s “The Distillers One of One” auction held in Edinburgh on Thursday.

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