Tensions over the shadowy and often enigmatic market of private company stocks have reached a boiling point
). The fund owns shares in hot tech startups like the payments firm Stripe, the rocket maker SpaceX and the artificial intelligence company OpenAI.
, just as the buying and selling of such shares has grown bigger than ever. At its center is an age-old debate: Should everyone have access to the riches and risks of investing in Silicon Valley startups? And funds like Destiny have appeared. Destiny is among the only options for retail investors, since most other funds and marketplaces are restricted to “accredited” investors with high incomes or net worth.
At Augment, which opened last year, investors interested in owning shares in Stripe can peruse four “sell orders,” or people trying to sell Stripe shares. Augment did more than $20 million of transactions in March, Moldvai said. In the aftermath, startups tried restricting sales of their stock. But middlemen including Forge Global, then known as Equidate, found ways around it. They popularized “forward contracts,” which paid startup employees cash if they pledged to transfer their company shares to an investor in the future.
Even though companies historically resisted the trading of their private stock, more are coming around to the idea, Rodriques said.A Time of Destiny? Both companies have bristled at Destiny’s claim to the shares. Such deals would violate its rules, Plaid said in a statement last month, and it “does not recognize shares acquired in this manner.”
Canada News Breaking News Video Canadian Breaking News Breaking News Globe And Mail Breaking News Globe And Mail Canada News Photos World News Local News National News Us News Foreign News Sports News Arts News Life News Lifestyle Canada Traffic Canada Weather Trudeau Government Federal Government Canada Sports Canada Sports News Politics Politics News Political News Political Opinion Environment Economy Technology Education Travel Canada Alberta Bc British Columbia Manitoba Ontario Quebec Nova Scotia Pei New Brunswick Newfoundland And Labrador Nunavut Northwest Territories Yukon Globe And Mail
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The ending of Google's monopoly trial has Silicon Valley on edgeGoogle has a lot at stake as a federal judge weighs whether the tech giant’s search empire should be broken up. But so does the rest of Silicon Valley.
Read more »
India’s Silicon Valley Heads to Polls Amid Searing Heat and Water ShortagesIndia’s high tech hub of Bengaluru votes Friday amid searing heat and a prolonged water shortage, with the ruling and opposition parties trading barbs about the lack of basic resources.
Read more »
Silicon Valley and Hollywood worlds collide as David Ellison bids for ParamountDavid Ellison, 41, would not be the first rich guy to arrive in Hollywood with a fat bank account and dreams of making movies, though the son of billionaire ...
Read more »
Trade Tensions Threaten the Rise of China’s Stock Champions(Bloomberg) -- China’s most-promising industries are facing a growing threat of trade restrictions from Western governments, blurring the outlook for stocks ...
Read more »
US Stock Volatility Resurfaces With Tensions in the Middle EastThe Cboe Volatility Index popped above 20 for the first time since October as geopolitical angst stoked wagers for added swings in US stocks.
Read more »
Stock market today: Japan’s Nikkei leads Asian market retreat as Middle East tensions flareHONG KONG (AP) — Asian stocks tumbled Friday, with Japan’s Nikkei slumping 2.4% on heavy selling of semiconductor-related shares and other market...
Read more »