# E428: Michael Green on Peter Thiel, SpaceX, and Inefficient Markets

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Text version: https://stenobird.com/podcast/how-i-invest-with-david-weisburd-6470713/e428-michael-green-on-peter-thiel-spacex-and-inefficient-markets.md
Podcast: [How I Invest with David Weisburd](https://stenobird.com/podcast/how-i-invest-with-david-weisburd-6470713)
Published: 2026-09-11T12:45:00+00:00
Episode link: https://howiinvestpodcast.com/episodes/PM4n8kftdSz
Audio file: https://dts.podtrac.com/redirect.mp3/media.podcastai.com/episodes/PM4n8kftdSz.mp3?u=1789131602
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Duration seconds: 2780

## Resource

What if passive investing is actually one of the biggest active forces shaping markets today? In this episode, I sit down with Michael Green, Founder and CIO at Tier1 Alpha Asset Management. Michael challenges the conventional view that stock prices primarily reflect fundamentals, arguing that the transaction itself moves prices and that the rise of passive investing has fundamentally changed who trades, why they trade, and how markets respond to capital flows.

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## Transcript

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