<p>Ankur Nagpal is the GP of USVC, a publicly accessible venture capital fund. In this conversation, we break down how retail investors can now access private markets like OpenAI, Anthropic, and SpaceX for as little as $500, and the controversy around USVC's Anduril investment, portfolio strategy, QSBS, tax alpha, and what it means to build wealth in America. </p><p>====================</p><p>Looking for a better place to trade? BloFin gives traders access to deep liquidity, advanced futures products for crypto AND TradFi assets, fast execution, and a clean, intuitive interface—all in one platform. To celebrate their partnership with us, they're giving away $100,000 in Deposit &amp; Trade Rewards. Deposit, trade, and earn rewards based on your activity during the campaign. Check them out at (<a href="https://partner.blofin.com/d/Pomp" target="_blank" rel="ugc noopener noreferrer">https://partner.blofin.com/d/Pomp</a>).</p><p>====================</p><p><a href="http://lp.bitcoinira.com/after-crypto" target="_blank" rel="ugc noopener noreferrer">BitcoinIRA</a>: Save up to 37% in capital gains taxes on your retirement investments. Take 3 minutes to open your account &amp; get connected to a team of IRA specialists that will guide you through every step of the process. Go to <a href="http://lp.bitcoinira.com/after-crypto" target="_blank" rel="ugc noopener noreferrer">lp.bitcoinira.com/after-crypto</a> to win up to $4,000 in rewards.</p><p>====================</p><p>Arch Public is an agentic trading platform that automates the buying and selling of your preferred crypto strategies. Sign up today at <a href="https://www.archpublic.com" target="_blank" rel="ugc noopener noreferrer">https://www.archpublic.com</a> and start your automated trading strategy for free. No catch. No hidden fees. Just smarter trading.</p><p>====================</p><ul><li>0:00 - Intro</li><li>1:07 - The case for &amp; against private market investing</li><li>9:27 - Inside USVC's fund structure (open to anyone with $500)</li><li>12:59 - What's in the USVC portfolio right now</li><li>14:44 - The Anduril SPV controversy explained</li><li>19:38 - Buying out LP stakes in venture funds</li><li>23:42 - Private markets vs S&amp;P</li><li>25:34 - Lessons from AngelList's data on portfolio construction </li><li>30:44 - Why AI is no longer just a category &amp; due diligence </li><li>34:16 - Biggest risks &amp; tax alpha with USVC</li><li>39:22 - Sticking to the plan amid market change</li><li>40:43 - Working with Naval and what America means to Ankur</li></ul>