Capital-partner track · Episode 2
How debt and equity behave differently — liquidity, lockups, and position in the capital stack. Educational only.
The episode audio will appear here once produced.
Equity is ownership; debt is a promise to be repaid first. Those are fundamentally different risk positions, and conflating them is how investors get surprised. The capital stack isn't jargon — it's the order of who gets paid…
Full transcript published with the episode. Educational content only — not investment, legal, or tax advice.