Robinhood and SoFi are giving retail investors a new way to “own” pre-IPO shares in giants like SpaceX and OpenAI. But these aren’t traditional shares, but tokenized representations with major legal and structural gray areas.
In this clip, Chris and Shira break down how the model works, why it’s controversial, and whether it democratizes finance or just introduces new risks. They also compare it to SPVs, explore OpenAI’s disavowal of the product, and examine what this means for the future of startup investing.
In this clip:
* How Robinhood and SoFi are giving retail access to OpenAI and SpaceX
* The difference between real equity and tokenized shares
* Why OpenAI and regulators are pushing back
* What this means for the future of investing in private companies
Clip from Reacts episode 'Musk Launches 'America Party' + YouTube Declares War on AI Slop, Sequoia's Mamdani Scandal': https://youtu.be/hxsWTE6b3zY
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