Rephonic
Artwork for trading places
Openai
Venture Capital
Spacex
Anthropic
IPO
Donor-Advised Funds
Nvidia
Private Markets
Secondary Market
IPO Market
Tax Efficiency
Canva
Philanthropy
Oracle
Tether
University Impact
Environmental Solutions
Michael Burry
VC Secondary Market
DPI

a very bad 💩podcast about VC secondaries broken unicorns ❤️‍🩹🦄 & busted carry 📉🙈

PublishesWeeklyEpisodes44Foundeda year ago
Number of ListenersCategories
InvestingBusiness

Listen to this Podcast

Artwork for trading places

Latest Episodes

Is Helsing becoming Europe’s answer to Anduril?

In this episode of Trading Places, Dave McClure and Aman Verjee break down the German defense technology company’s new $18 billion valuation, its AI-powered autonomous systems, its battlefield testing ... more

SpaceX just reported earnings for the first time since going public — and the numbers were a rollercoaster.

Revenue beat estimates by a mile (+92% YoY), EBITDA came in strong, and every business segment posted growth. So why did the stock give up i... more

Dave McClure and Aman Verjee break down why venture capital is pouring into autonomous defense companies, how Anduril, Shield AI, Saronic and a new generation of startups are challenging the traditional defense primes, and why expanding military budg... more

The AI arms race just got a lot more interesting. Moonshot's Kimi K3 is topping leaderboards ahead of proprietary US models, DeepSeek is raising at a $71B valuation ahead of its own IPO, and Anthropic is quietly lining up bankers for a Q4 listing tha... more

Key Facts

Accepts Guests
Contact Information
Podcast Host
Number of Listeners
Find out how many people listen to this podcast per episode and each month.

Similar Podcasts

People also subscribe to these shows.

Recent Guests

Marcelo Ballvé
Head of research at Sacra
Sacra
Episode: US vs. China AI: OpenAI, Anthropic, DeepSeek & Moonshot Go to War
Shawn Bercuson
Founder and CEO of Earlyasset Capital
Earlyasset Capital
Episode: Can Jeff Bezos Catch Elon Musk? Blue Origin at $130B | Reflection AI vs. DeepSeek | Interview with Shawn Bercuson
Michael O'Keefe
CAZ Investments executive, GP Stakes expert
CAZ Investments
Episode: DeepSeek's $50B Round, OpenAI's Delayed IPO, and the GP Stakes Market with CAZ Investments
CJ Gustafson
CFO/valuation expert with experience in private markets and S1 analysis
Episode: The SpaceX IPO Report Card, OpenAI vs. Anthropic, and the Private Market No One Talks About | CJ Gustafson w/ Guest CJ Gustafson
Clara Vydyanath
Experienced private markets and secondaries professional
Hiive (asset management and SPD practice)
Episode: $900B Anthropic, SpaceX IPO Date, and the SPV Wild West w/ Clara Vydyanath | Trading Places Pod EP35
Aman Verjee
Professor, valuation expert
Valuation Corner guest
Episode: Anthropic at $900B, OpenAI Slipping | Sacra & Augment Power 20 Private Companies | Cohere Valuation | Ep 33
Oren Barzilai
Founder and CEO of EquityBee
EquityBee
Episode: Anthropic Passes OpenAI ($30B ARR), SpaceX Lost $5B & How EquityBee Unlocks Employee Equity | Ep. 30
Shri Bhashyam
CEO at Sydecar
Sydecar
Episode: SpaceX $2T IPO ?!? 🚀 Shield AI = next Anduril 🛩️ Shri Bhashyam Sydecar grows to $4B SPVs | Ep29
Nick Fusco
Founder and CEO of PM Insights
PM Insights
Episode: Nvidia $4.4T vs Cerebras $23B Val | Why Private Prices Are Wrong with Nick Fusco of PM Insights | Episode 27

Hosts

Aman Verjee
Host of the valuation-focused segments and co-host for the show; associated with practical venture capital and private markets discussion.
Dave McClure
Co-host and commentator focusing on VC funding, liquidity, and market insights.

Reviews

5.0 out of 5 stars from 3 ratings
  • A Hidden Corner of Startup/VC Investing, Explained

    I’ve really enjoyed the [trading places] podcast. It takes a part of the investing world that usually feels pretty mysterious—the secondary market—and makes it easy to follow without dumbing it down. The hosts (Dave McClure and Aman Verjee) ask great questions, and the guests (like Upfront Ventures’ Mark Suster, as well as other secondary investors) give honest, practical insights you don’t hear on most finance/startup/VC podcasts. I’ve walked away from episodes with a much clearer understanding... more

    Apple Podcasts
    5
    daveschappell
    United Statesa year ago
  • Nobody does it better

    This is the single greatest podcast ever done on the VC secondary market.

    Apple Podcasts
    5
    HotHamCheese101
    United Statesa year ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Shows are insightful and accessible to both finance pros and curious founders.
Guests provide real-world perspectives on liquidity, SPVs, and DPI concepts.
Listeners praise practical, data-driven discussions of private markets and secondaries.
Overall, the banter and depth balance makes complex topics approachable for sponsors and guests alike.

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Talking Points

Recent interactions between the hosts and their guests.

DeepSeek's $50B Round, OpenAI's Delayed IPO, and the GP Stakes Market with CAZ Investments
Q: What is the typical scale of checks and the fund size involved in CAZ's GP Stakes transactions?
CAZ typically invests hundreds of millions to a few billion dollars per vehicle, with a diversified portfolio of asset managers totaling over 115, aiming for broad exposure across private equity, private credit, energy, and tech.
SpaceX $2T IPO ?!? 🚀 Shield AI = next Anduril 🛩️ Shri Bhashyam Sydecar grows to $4B SPVs | Ep29
Q: Shri, welcome to the program. What's going on in your world lately? Hardly anything happening in SPVs, right?
Shri explains that SPVs have grown in prominence as a way to simplify and scale private market access, with primary activity still dominant but secondary activity rising, and emphasizes Sydecar's role in making SPVs easier to set up and manage for deal-makers.
Iran Tanks IPOs | 2026 VC Outlook with PitchBook & CB Insights | ByteDance @ $550B | Ep26
Q: Aman, could you explain how tender offers work in practice?
Tender offers bring in new money and set a price for existing employees or shareholders who want to sell, with rules to ensure fair allocation and retention benefits, often used to provide liquidity before an IPO.
Elon Musk $1.25T SpaceX + xAI merger, How to Get DPI in 2026 w/ David Zhou | Ep23
Q: How does signaling risk differ when using SPVs versus traditional secondary sales?
Using SPVs reduces reliance on the company's consent and can enable liquidity through structured buying by LPs or other SPV members, mitigating some signaling risks associated with secondary sales, while preserving more control over timing and pricing.
Elon Musk $1.25T SpaceX + xAI merger, How to Get DPI in 2026 w/ David Zhou | Ep23
Q: What should the size of a position be in the SPV for it to be meaningful?
SPV costs typically run 8-10K on the low end, with potentially 25K or more, and initial checks of around 500K make SPV costs a small percentage of the investment; for checks under 250K it becomes material, so investors may wait until the position is larger to justify SPV economics.

Audience Metrics

Listeners, social reach, demographics and more for this podcast.

Listeners per Episode
Gender Skew
Location
Interests
Professions
Age Range
Household Income
Social Media Reach

Frequently Asked Questions About trading places

What is trading places about and what kind of topics does it cover?

A fast-moving, data-driven discussion on private markets, secondaries, SPVs, and the liquidity dynamics around high-profile tech companies. Episodes frequently dissect AI mega-rounds, SpaceX, Anthropic, OpenAI, and the evolving landscape of SPVs, tender offers, and valuation frameworks, often with guest insights from valuation experts, data vendors, and fund managers. The tone blends sharp financial analysis with practical takeaways for CFOs, founders, and investors seeking liquidity, new investment vehicles, or a clearer view of how private pricing differs from public markets. Notable quirks include frequent references to retail participation, SPV mechanics, and DPI frameworks, making it particularly useful for listeners who want actionabl... more

Where can I find podcast stats for trading places?

Rephonic provides a wide range of podcast stats for trading places. We scanned the web and collated all of the information that we could find in our comprehensive podcast database. See how many people listen to trading places and access YouTube viewership numbers, download stats, audience demographics, chart rankings, ratings, reviews and more.

How many listeners does trading places get?

Rephonic provides a full set of podcast information for three million podcasts, including the number of listeners. View further listenership figures for trading places, including podcast download numbers and subscriber numbers, so you can make better decisions about which podcasts to sponsor or be a guest on. You will need to upgrade your account to access this premium data.

What are the audience demographics for trading places?

Rephonic provides comprehensive predictive audience data for trading places, including gender skew, age, country, political leaning, income, professions, education level, and interests. You can access these listener demographics by upgrading your account.

How many subscribers and views does trading places have?

To see how many followers or subscribers trading places has on Spotify and other platforms such as Castbox and Podcast Addict, simply upgrade your account. You'll also find viewership figures for their YouTube channel if they have one.

How many episodes of trading places are there?

trading places launched a year ago and published 44 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

How do I contact trading places?

Our systems regularly scour the web to find email addresses and social media links for this podcast. We scanned the web and collated all of the contact information that we could find in our podcast database. But in the unlikely event that you can't find what you're looking for, our concierge service lets you request our research team to source better contacts for you.

Where can I see ratings and reviews for trading places?

Rephonic pulls ratings and reviews for trading places from multiple sources, including Spotify, Apple Podcasts, Castbox, and Podcast Addict.

View all the reviews in one place instead of visiting each platform individually and use this information to decide if a show is worth pitching or not.

How do I access podcast episode transcripts for trading places?

Rephonic provides full transcripts for episodes of trading places. Search within each transcript for your keywords, whether they be topics, brands or people, and figure out if it's worth pitching as a guest or sponsor. You can even set-up alerts to get notified when your keywords are mentioned.

What guests have appeared on trading places?

Recent guests on trading places include:

1. Marcelo Ballvé
2. Shawn Bercuson
3. Michael O'Keefe
4. CJ Gustafson
5. Clara Vydyanath
6. Aman Verjee
7. Oren Barzilai
8. Shri Bhashyam

To view more recent guests and their details, simply upgrade your Rephonic account. You'll also get access to a typical guest profile to help you decide if the show is worth pitching.

Find and pitch the right podcasts

We help savvy brands, marketers and PR professionals to find the right podcasts for any topic or niche. Get the data and contacts you need to pitch podcasts at scale and turn listeners into customers.
Try it free for 7 days