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Register for Investment Crowdfunding Week 2026

Brian and Scott kick things off with a look at Fundrise’s Innovation Fund and a viral investor return story showing shares jumping dramatically post-listing (01:25). They unpack why early trading prices can deviate significantly from net asset value (NAV), and what that means for investors chasing exposure to companies like OpenAI (12:10).

The discussion expands into broader private market dynamics — including lockups, limited float, and why early buyers may be price-insensitive (18:43). They then shift into a deeper conversation about liquidity pressures across private equity and credit, where both institutional and retail investors are increasingly seeking exits (19:53).

The episode closes with a critical insight: illiquidity isn’t a bug — it’s a feature. But as retail investors enter private markets expecting public-market flexibility, a fundamental mismatch is emerging that could reshape the entire ecosystem (28:50).