Molly O'Shea speaks with Christian Garrett, Partner at 137 Ventures. Christian shares his insights on the current state of private markets, the mechanics of high profile secondaries, and the growing liquidity squeeze faced by VCs.

We also take a closer look at SpaceX's financing history, how 137 Ventures got involved, and why SpaceX runs tenders every six months. Christian discusses the potential reopening of the IPO window, the rise of generational talent from companies like Anduril, SpaceX, and Palantir, and why he thinks defense tech might be overrated right now.

Other highlights include the evolving relationship between Silicon Valley and Washington, D.C., government initiatives like the Replicator Initiative and FedRAMP, and the origins of the Hill & Valley Forum. On a personal note, Christian reflects on his career journey, his mentorship with Trae Stephens, and shares some spicy hot takes on topics like return-to-office policies, San Francisco’s future, and his unexpected bullishness on Europe.

If you're interested in venture capital, private markets, or the intersection of tech and policy, this is a must-watch episode!

Molly on X: https://x.com/MollySOShea

Christian on X: https://x.com/CGarrett_15

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TIMESTAMPS:

00:00 - Welcome to Sorcery: Christian Garrett's Journey

00:39 - How Secondaries Work: SpaceX, Figma, Ramp, Plaid, Databricks

04:46 - 137 Ventures: Origin and Investment Thesis

06:36 - SpaceX: A Case Study in Private Market Success

10:38 - The Benefits of Staying Private

18:28 - Generational Talent in Tech: Anduril, SpaceX, Palantir

21:07 - Defense Tech: Opportunities and Challenges

26:02 - Tech and Government: Building Stronger Partnerships

34:25 - Hill and Valley Forum: Bridging Tech and Policy

38:58 - Christian's Journey to Becoming a Partner

42:02 - Trae Stephens & The Role of Mentorship in Success

43:45 - Helping Founders Beyond Capital

52:00 - Christian's Spicy Takes on Industry Trends

01:02:54 - The Future of 137 Ventures

01:09:31 - Looking Forward: Exciting Prospects Ahead

#podcast #investing #technology #venturecapital #entrepreneur #startup #siliconvalley