But Tenev’s pet passion has been “blowing” open the door to private markets, as he said on CNBC last week. On the surface, it’s a noble project. Everyone wants access to companies like Anthropic and SpaceX, but only the most connected investors can get access—at least without paying exorbitant fees or buying into scams. When (and if) the private market equivalents of the Magnificent Seven go public, it’ll be the most elite firms on Wall Street raking in the profits. Over the summer, Tenev called it a “big tragedy” that all the excitement is in private markets.
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