Fundrise CEO Ben Miller: It’s time to democratize access to private tech companies like OpenAI

Market Trends & Investment Opportunities - Several institutions are moving into crypto and private markets, including JPM Coin for institutional clients [1], Morgan Stanley's acquisition of private marketplace Equities, and Charles Schwab's purchase of Forged Global [2] - Robinhood plans to create an AI startup portfolio accessible to "normal people" [1] - Fundrise offers a venture fund regulated by the SEC, allowing the public to invest in top tech companies with a minimum of $10 [3][4] - The trend of companies staying private longer (now 14 years compared to 5 years previously) necessitates democratizing access to private market investments [8][9] Company Performance & Strategy (Fundrise) - Fundrise's platform manages $3.3 billion, with its venture fund holding approximately $400 million [5] - The average investment size is about $10,000, with the average investor in their mid-30s [6] - Fundrise's fund has seen returns of 30% in the last six months and 47% in the last 12 months [10] - Fundrise leverages its position as a tech company with 2 million customers and hundreds of software engineers to understand and invest in AI companies, often as a customer themselves (approximately 80% of invested software companies) [11] Industry Outlook & Challenges - The public markets' demand for predictability can hinder innovation, suggesting a need for AI companies to mature in private markets before going public [17][18] - There is a high demand for AI products and chips, potentially outpacing supply despite significant investments in data centers [14][15] - The speaker believes the AI sector is in the "middle innings" of its growth cycle [14]