# E419: Venture Capital Has a Liquidity Crisis

Page: https://stenobird.com/podcast/how-i-invest-with-david-weisburd-6470713/e419-venture-capital-has-a-liquidity-crisis
Text version: https://stenobird.com/podcast/how-i-invest-with-david-weisburd-6470713/e419-venture-capital-has-a-liquidity-crisis.md
Podcast: [How I Invest with David Weisburd](https://stenobird.com/podcast/how-i-invest-with-david-weisburd-6470713)
Published: 2026-08-21T12:45:00+00:00
Episode link: https://howiinvestpodcast.com/episodes/tI5rxbW4CYw
Audio file: https://dts.podtrac.com/redirect.mp3/media.podcastai.com/episodes/tI5rxbW4CYw.mp3?u=1787317202
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/how-i-invest-with-david-weisburd-6470713/episodes/e419-venture-capital-has-a-liquidity-crisis
Duration seconds: 2360

## Resource

Venture capital was designed around a relatively simple model: invest in a startup, help it grow, and eventually exit through an acquisition or IPO. David sits down with Benjamin Black Powerlaw Corp. (Nasdaq: PWRL), Akkadian Ventures, Ben invests in growth-stage technology companies while providing alternative liquidity to founders, employees, angel investors, and venture funds. In this episode, Ben and David unpack the evolution of the venture secondary market, why great companies staying private longer creates an entirely different opportunity set, how sophisticated investors price illiquid private-company shares, and why liquidity itself is becoming a critical piece of venture capital infrastructure. The result is a different way to think about private markets: the investment opportunity doesn't end after the primary financing round.

## Actions

- request_transcript: `POST https://stenobird.com/v1/public/podcasts/how-i-invest-with-david-weisburd-6470713/episodes/e419-venture-capital-has-a-liquidity-crisis/transcription-requests` — Idempotently request low-priority transcript generation for this episode.
- read_markdown: `GET https://stenobird.com/podcast/how-i-invest-with-david-weisburd-6470713/e419-venture-capital-has-a-liquidity-crisis.md` — Read the agent-friendly Markdown representation of this episode resource.

A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed.

## Transcript

Full transcripts are not published on public pages unless there is a clear rights basis.