# E382: Why Venture Capital Has a $3 Trillion Liquidity Problem

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Text version: https://stenobird.com/podcast/how-i-invest-with-david-weisburd-6470713/e382-why-venture-capital-has-a-3-trillion-liquidity-problem.md
Podcast: [How I Invest with David Weisburd](https://stenobird.com/podcast/how-i-invest-with-david-weisburd-6470713)
Published: 2026-06-03T12:45:00+00:00
Episode link: https://howiinvestpodcast.com/episodes/hYNNT4WfORw
Audio file: https://dts.podtrac.com/redirect.mp3/media.podcastai.com/episodes/hYNNT4WfORw.mp3?u=1780668077
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Duration seconds: 2018

## Resource

What if the biggest opportunity in venture today isn’t finding the next unicorn—but solving the liquidity problem created by companies staying private twice as long as they used to? In this episode, I sit down with Ravi Viswanathan, Founder and Managing Partner of NewView Capital, to discuss how the venture ecosystem is evolving beyond the traditional fund model. Ravi explains why he left NEA to build a firm focused on liquidity solutions, how company-led secondaries are becoming a critical tool for founders and employees, and why the future of venture may depend on balancing long-term ownership with thoughtful liquidity. We also explore the DPI drought, continuation vehicles, cap table management, and why relationships remain the ultimate source of edge in venture capital.

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## Transcript

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