Episode Details

Before the cash lands, the real battle is protecting it from taxes, structural mistakes, and rushed decisions. In this condensed version of Sourcery, Molly O'Shea talks with Michel Del Buono, CIO of A16Z Perennial, about liquidity events, trust and estate planning, QSBS, tax loss harvesting, donor-advised funds, secondary sales, and private market risk. You’ll learn why founder stock, family dynamics, and fund structures can matter as much as the exit itself, and how investors weigh trusts versus liquid tax strategies. Michel also breaks down the red flags in SPVs, private credit, semi-liquid vehicles, and AI-linked assets like data centers, emphasizing diligence over hype. If you want the key takeaways from the full episode in a faster listen, this summary gets you there. Listen now to get the key ideas in minutes.