Alternative Investing Report - December 10, 2025

Yesterday, Vincent co-founders Eric Cantor and Adam Katz talked about how to evaluate a real estate investment opportunity, focusing on a live deal in the industrial sector. They discussed the current state of the industrial real estate market, key terms and metrics, and a structured framework for evaluating opportunities. The conversation also covered the specific industrial property being analyzed, financial projections, and future market predictions, providing a comprehensive overview for novice and experienced investors.

In this episode, Slava Rubin and Sacra's Jan-Erik Asplund discuss the current state and future prospects of SpaceX, exploring its growth trajectory, revenue streams, and the impact of its Starlink internet service. The discussion also covers the technological advancements with Starship, the competitive landscape in the space industry, and the investment opportunities and risks associated with SpaceX.

📊 Small business optimism rises: The NFIB Small Business Optimism Index rose by 0.8 points to 99.0, exceeding the forecast of 98.4 and recording the first positive movement in three months. The gain in mainly due to businesses expecting real sales to increase, even as fewer of those surveyed expect the economy to improve.

🏡 Inventory still rising: Total inventory on the U.S. housing market has increased for 25 straight months, and is up 12.6% year-over-year, with homes staying on the market longer and buyer demand declining.

🤖 Skild AI fundraise: The AI and robotics startup is reportedly raising more than $1 billion in a round led by Nvidia and SoftBank that will value the company at $14 billion, tripling its valuation from May.

💵 2026 PE outlook: Pitchbook’s predictions for the next year in private equity are cautiously optimistic, despite slowing exit activity and further fundraising dominance from the top 10 PE firms.

🎨 Top artworks of 2025: ArtNews released its list of the 25 defining artworks of 2025, not necessarily produced this year, but relevant to the time, which was topped by work from Kara Walker, Barbara Kruger, and Amy Sherald.

⚾ New Ohtani record: A one-of-one Shohei Ohtani card - a 2025 Topps Chrome Gold Logoman - has surpassed $1.2 million at auction and will become the most expensive Ohtani card ever when it sells next week at Fanatics Collect.

In the past week, the token that saw the biggest decline of any in the top-100 by market cap was Hyperliquid, the native token of the decentralized exchange of the same name. It is now down 32% in the past month and more than 50% from its all-time high in September. Part of that drop comes as stronger competition from other exchanges has cut into Hyperliquid’s trading volume and demand for its token. The price could also be struggling as the debut of the HYPE token treasury Hyperliquid Strategies on December 2 did not drive as much buying demand as had been expected. Now, the treasury company is already announcing a buyback to try and support the price, not exactly a strong sign of confidence.