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Happy Friday. Michael Goodbody gives us an investing pick, DeepSeek raised China’s largest round ever, home values edged up, and a legal AI startup raised a big round. Let’s dive in!
🎤 Listen: To the latest episode of Smart Humans, where Slava Rubin talks to Get Access CEO Michael Goodbody about getting exposure to transformational private companies.
This issue is brought to you by Kalshi - hedge your risks.
📈 DAILY MARKETS
✅ PICK OF THE WEEK
Wealthfront (NASDAQ: WLTH)
Share price: $11.16 ($1.74 billion market cap)
Wealthfront is one company that I’ve always seen do pretty well in higher interest rate environments
They’ve done a really good job of growing assets under custody
They seem to do a better job of monetizing when people are moving back into yield-generating products
Partner
The ice cream shop that makes money when it's cold
28 Wishes sells ice cream in Los Angeles. Below 70°F, sales fall about 20%. The weather is out of their hands. Rent isn't.
So the owners started putting about $20 a day into Kalshi weather markets, taking the cold side. The days that keep customers away now pay something back.
This is hedging. Big companies have done it for decades, buying protection against bad weather, fuel spikes and rising rates. It used to take a broker, a trading desk, and an order size no corner shop could meet.
Kalshi opens it up. Contracts on weather, fuel prices, inflation, tariffs and regulation, starting at a few dollars. Take a position on the outcome that would hurt you. If it hits, the payout softens it. If it doesn't, the contract expires and the good month was the point.
👨🏫 TODAY'S EXPERT
Michael Goodbody is the CEO of Get Access, a curated private markets platform connecting great companies with investors who bring both capital and the ability to help. He joined Guy Oseary of Sound Ventures in 2025 to build it, after leading marketing at Robinhood, Dave, Credit Karma, and Wise.
🎤 PODCAST
"We surface one deal a week to our members...curated deals to a curated audience in a curated set of companies." - Michael Goodbody
In the newest episode of Smart Humans, Slava Rubin talks with Get Access CEO Michael Goodbody about the evolution of private markets, democratizing access to transformational companies, and investing alongside A-list celebrities and athletes.
📰 NOTABLE NEWS
🤖 DeepSeek record round: The Chinese AI startup raised a $15 billion funding round, the biggest for any Chinese company ever, at a reported $89 billion valuation, nearly double its valuation from June. The raise comes in advance of a potential IPO next year, and only two days after the U.S. banned federal civilian agencies from using DeepSeek’s models.
🏡 Home values tick up: Redfin’s Home Price Index showed a 0.25% monthly gain for U.S. home prices in September, slightly higher than August’s 0.21% gain, with a 3.8% year-over-year rise. San Francisco had the biggest yearly gain of any market, while San Antonio and Dallas had the biggest declines.
🚀 Legora fundraise: The legal AI startup raised $550 million at a $8.6 billion valuation, 57% higher than its valuation from April. The company’s revenue has doubled in the interim, reaching an annual revenue run rate of $200 million.
💵 Family office survey: A BlackRock survey of family offices found that infrastructure is the alternative asset class that more firms than any are looking to add to their portfolio in the next year, followed by private equity.
🎨 Art Basel Paris: Even with a shortened schedule due to the riots in Paris, the renowned art fair's opening days still featured a number of seven and eight-figure sales and A-list celebrity sightings. Notable sales included an $8.5 million Gerhard Richter painting and a $7.85 million Julie Mehretu painting, and a Modigliani painting worth an estimated $100 million was displayed for the first time in a century.
🐉 $2 million Pokémon collection: A collection of mint condition Pokémon cards that had been stored in an attic since the late 1990s sold for $2 million at Ewbank's auction house, well above expectations.
📝 IN CASE YOU MISSED IT
Monday: 🎨 London art auctions, 🚀 Cybersecurity funding jumps
Tuesday: 🏡 Rental market update, 💵 Evergreen PE funds
Wednesday: 🏡 Housing data, 📉 Fintech funding drops
Thursday: 📉 AI Infrastructure IPOs, 🪙 JPMorgan bullish on Bitcoin
Have a great weekend!
