E1126: Capital Allocators Host Ted Seides on endowments, LP turnover, public/private market insights

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Show notes:

0:00 Start

1:12 Jason talks about his favorite podcasts & intros Capital Allocators host Ted Seides

3:50 Ted's background, starting Capital Allocators Podcast

6:19 What is a capital allocator & where did capital allocation start?

10:16 Gusto - Get three months free when you run your first payroll at https://www.gusto.com/twist

11:36 Working for David Swensen at Yale, how endowment managers think about illiquidity

16:32 Why have endowments gotten so large? How do they work & how have they changed over the years?

22:14 Masterworks - Skip the 25,000 person waitlist by going to https://www.masterworks.io and using promo code TWIST

24:00 Ted's new book, magic of podcasting from an expert's perspective

28:38 How do endowment managers get compensated & what motivates them? Skill differences between hedge funds & endowments

36:04 Dell - Get up to 40% off select products with an exclusive Black Friday sneak peek at launch.co/dell

37:42 Capital allocators responding to the pandemic & adjusting to remote investing

44:18 How endowments evaluate new fund managers & why they move on from funds, going deep on LP turnover

50:17 What % of endowments should be allocated to venture capital? How endowments view SPACs & companies going public earlier

1:00:43 Public markets are typically non-receptive to cashflow negative businesses regardless of growth, how endowments view the current extremes in the public markets

1:08:06 ESG investing, diversity issues in asset management, microfunds, how younger generations of investors are trying to fix these issues

1:19:49 Big Tech being greedy on the margins

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