{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/6a0fb76780978431dad0217b/6aa8f3c779ba7f1eccaa41ec?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"Primary vs Secondary Markets Explained (Using Ticketmaster vs StubHub for Pre-IPO Shares)","thumbnail_width":200,"thumbnail_height":200,"thumbnail_url":"https://open-images.acast.com/shows/6a0fb76780978431dad0217b/1789457210355-080b4115-2756-4746-9904-7d57d48945ea.jpeg?height=200","description":"<p>Join our community and get the newsletter and AI Cheatsheet: theWealthElevator.com/angel</p><p><br></p><p>This episode explains primary vs. secondary markets in private investing using a BTS/Taylor Swift concert ticket analogy. Buying tickets from Ticketmaster represents the primary market, like investing in a company’s seed or Series A/B/C rounds where new shares are issued and money goes to the company. Access is often limited by presales, bots, and relationships—similar to how venture funds, institutions, founders, and well-connected investors get the best allocations. Buying on StubHub represents the secondary market, where you purchase existing tickets (or shares) from a current holder and the proceeds go to the seller, not the company, minus fees. The script also covers SPVs, differences in share classes and rights, comparing prices to the latest institutional round, and accounting for intermediary fees to judge whether pre-IPO access is fair value before IPO retail frenzy.</p><p><br></p><p>00:00 Concert Ticket Analogy</p><p>00:14 Primary Market Explained</p><p>00:36 Why Access Is Limited</p><p>01:22 Secondary Market Basics</p><p>01:56 Pricing and Fair Value</p><p>02:34 SPVs and Share Rights</p><p>03:05 Key Questions Before Buying</p><p>03:52 Access Costs and IPO Frenzy</p>","author_name":"Lane Kawaoka"}