last #TradingPlaces pod for 2025 — @AmanVerjee and me are on vacation, but here’s one final @TradingVCs episode for the year: - @JavierCAvalos @CaplightData on VC #secondary market concentration (>80% = 15 co’s) - @ttunguz on AI “junk bonds” and why @Oracle 5x debt leverage is crashing their bond ratings - who owns @tiktok_us and how much in new #ByteDance deal? - is @xAI really worth $230B and where is $3B ARR coming from? Happy Holidays Folks!(Dave McClure)