Naval’s $500 VC fund, the Maduro Polymarket scandal, and NYT defends theft and murder | E2280

This is disgraceful. You have an obligation to think through what you say. Crazy and deranged behavior that's all being bundled together and violence towards individuals you disagree with. We live in a democracy. All violence is immoral as Martin Luther King said. As Jesus said, this is an incredible fail by the New York Times. So are we going off duty, or you have a news story or two you want me to do? I I feel like people are gonna wanna hear your thoughts about this. Angel is Is this Hasan on New York Times? Or we're doing that in off duty? We could talk about that again. We can talk about that some more if you want to. Sure. Yeah. LootMaxing. Lou, I know you're a big fan of LootMaxing. Yeah. AngelList has a new product out called US VC. They're offering exposure to venture investments with a $500 minimum. No accredit accreditation required. The goal is long term capital appreciation, not traditional liquidity. It's a little bit like, venture for normies, venture for kiddos. That's sort of how people are describing it. There's been a lot, Jason, a lot of discussion over the last, twenty four forty eight on x about this. Criticism has been really sharp. There's a viral thread from, a guy named Mario at covered underscore call. He's calling this yet another grift in the world of retail accessible VC, and he says retail doesn't need access to private markets this badly. A whole a whole laundry list here. I'll I'll pull up the tweet so you could see. So this is AngelList's new USVC, US venture capital. This is an SEC registered fund that allows nonaccredited retail investors to invest in private pre IPO companies. Correct. Open it. And my friend, Naval, is doing it, Ravikant, who's been on the program. And so they've got a bunch of portfolio companies in there that people want. The way this works is these are I believe they're called closed end funds. What they allow you to do is, you instead of paying carry, the two and twenty you hear about venture capital Yeah. 20% carry, 2% fees a year. So if you had a $100,000,000 fund and you turn it into a, 300,000,000 fund, in returns. That means you had 200 in profits. The VC would get 20% of the 200, not the 300, but of the gain. 20% of the 200 is 40,000,000. So that's what VCs are hoping for. They're hoping to triple your money. You're hoping they triple your money because you would double your money in the stock market is the theoretical concept here. Once in a while, you get an outlier that pays five x. Once in a while, you get a dud that pays point five x. You lose half your money sometimes. You go 10 x sometimes, but you're hoping for two and a half, three x. Right. In this one, you just pay a fee, 2.5% …