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Daily Missive

Matt Milner: Main Street’s New Gateway into Wall Street’s Playground

Loading ...Addison Wiggin

July 8, 2025 • 5 minute, 19 second read


private equity

Matt Milner: Main Street’s New Gateway into Wall Street’s Playground

“Private equity is the intersection where ambition meets expertise, driving companies not just to evolve but to transform.”

~ David M. Rubenstein

July 8, 2025 — Here’s what we believe about the government:

It does the most good by just getting out of the way.

So it might come as a surprise that we’re so supportive of a new government initiative.

Today I’ll get you up to speed on what’s happening here…

Then I’ll explain how it could potentially help you double your money in about two years.

For close to one hundred years, the U.S. government made it illegal for ordinary investors to invest in pre-IPO startups — in other words, companies that weren’t public.

Unless you were a wealthy accredited investor (net worth of at least $1 million, or annual salary of $200,000), you could only invest in publicly-traded stocks and bonds.

This forced ordinary investors to miss out on big gains. According to Cambridge Associates, a financial advisor with clients including the Rockefeller Family and the Bill Gates Foundation, private startups have delivered annual returns of 55% over the last twenty-five years.

That’s five, six, seven times higher than the average returns of stocks. And it’s enough to double your money every two years or so.

Was the U.S. government trying to prevent you from making money? Probably not. In the most generous interpretation of its actions, it was probably trying to protect you.

But this kind of paternalistic policy makes our blood boil! We can go to war. We can gamble. But the government made it illegal for us to invest in what’s been the best-performing asset class.

We were thrilled when the laws around pre-IPO investing started changing about ten years ago.

This is why we started Crowdability: to help ordinary investors navigate and profit from the world of startup investing.

Unfortunately, certain kinds of pre-IPO investing are still off-limits today. And even when they’re not off-limits, they’re so off the beaten path that only the most well-informed investors (including you, a Crowdability reader) could hope to take advantage of them.

For example, if you’re not an accredited investor, and you’re not a reader of Crowdability, how can you learn how to get exposure to the most important (and potentially most profitable) companies of our generation — SpaceX, OpenAI, Anduril, etc.?

But there’s good news here:

There’s a new Sheriff in town…

Continued Below…

Special Opportunity:
The Great American Patriot Shield

Turn On Your Images.

It was deemed impossible. But this groundbreaking space-based defense initiative, is so critical to national security, nothing can derail it. Not even Trump and Musk’s bitter feud. It’s about to reassert America’s dominance as the world’s premier military superpower. It could also create life-changing wealth for early investors. Find out how here.

During the Trump 1.0 era, the Securities and Exchange Commission (the “SEC”) tried to make it easier for ordinary individuals to invest in the private markets. But the Biden administration reversed those efforts.

Now, bigger changes are afoot.

Shortly after being re-elected, Trump installed an interim SEC commissioner named Mark Uyeda. In late February 2025, Uyeda gave a speech. Here’s a key piece of it:

“If an individual believes that the risk is appropriate and is protected against fraud, then our regulatory regime should not deny such individual a source of potential wealth accumulation and portfolio diversification. Investor protection cannot be achieved through paternalistic policies.”

In other words, the government shouldn’t be preventing you from lowering your risk and making more money!

Uyeda said we should find new ways to open up the private markets to all. For example, what if you could qualify as accredited by passing an investor test? Or what if the SEC encouraged the creation of private market funds that traded like stocks?

In April, Paul Atkins was sworn in as the new Chairman of the SEC. He’s cut from the same cloth as Uyeda. That’s why, based on his “green light,” investment products are now emerging that give ordinary investors access to the private markets.

For example:

  • Mutual fund giant Vanguard announced a private-equity fund in partnership with Blackstone and Wellington Management.
  • A major 401(k) provider called Empower reported that some of its retirement plans will soon be able to offer private startup investments.
  • Coatue is launching a public/private tech fund for ordinary investors, and KKR and Capital Group are forming various public/private funds for individual investors.

This is great news, right? You’ll finally be able to get full access to the private markets.

Not so fast.

Some of these opportunities might turn out to be solid investments for you.

But at the moment, they have some hair on them. For example, the minimum investment for the Coatue fund is expected to be $50,000. And the fees are expected to be very high.

That said, it’s clear that the SEC is getting serious about leveling the playing field.

Perhaps one day soon you’ll be able to qualify as accredited simply by passing a test you take at Crowdability. At that point, the entire world of investments would be open up to you — and you’d have access to a new world of profits.

To stay current on new developments in this arena, be sure to keep reading these articles.

In the meantime, we’ll keep bringing you private-market profit opportunities that everyone can get exposure to.

Happy investing.

Best Regards,

Turn Your Images On

Founder Crowdability.com and Grey Swan

P.S. From Addison: Paid members, please join us for Grey Swan Live! with Matt Milner this Thursday, July 10 at 11 a.m. ET.

We’ll introduce you to Matt more formally and discuss several of the private offerings we’ve emailed you about in the past several weeks. You may recall having read about Matt’s back door offerings for Elon Musk’s SpaceX, Starlink and xAi offerings? If you’re

With both private credit and private equity markets gaining pop trend status in the investment markets, we’ll dig deeper into private placements. We’ll explore the new opportunities being offered to individual investors in this environment and uncover the pitfalls and sand traps to look out for as the market opens up.

Join Matt Milner,nd I on Grey Swan Live!  Thursday, July 10 at 11 a.m. ET.

Your thoughts? Please send them here: addison@greyswanfraternity.com


The Crack-Up Boom – Part II

July 29, 2025 • Addison Wiggin

Never in the history of man had any people been able to get rich by spending money  .  .  .  nor had investment markets ever made the average buy-and-hold investor rich  .  .  .  nor had paper money, unbacked by gold, ever retained its value for very long.

In the late 1990s, however, all these things seemed not only possible, but inevitable. Everything seemed to be going in Americans’ favor. Then, suddenly, at the beginning of this new century, everything seemed to be going against them.

How could US consumer capitalism, which had been phenomenally successful for so long, fail them now? It can’t, they will say to themselves. Why should they have to accept a decline in their standards of living, when everybody knew that they were getting richer and richer? It cannot be.

Besides, said Americans to themselves in early 2003, if there were problems, they must be the fault of others: terrorists, greedy CEOs, or policy errors at the Fed.

The Crack-Up Boom – Part II
The Latest Meme Stock Craze Is About Out of Gas

July 29, 2025 • Addison Wiggin

While meme stocks sound innocuous, there is a critical factor that causes these names to get sudden interest from retail investors: a high level of short interest.

After all, if you’re short a stock and it starts to rise, you start to lose money on the trade.

That means if investors can engineer a move higher in a heavily-shorted stock, a squeeze could trigger as shorts buy to close.

That’s why heavily-shorted stocks, often unprofitable has-beens in the business world, have periods of strong performance.

The Latest Meme Stock Craze Is About Out of Gas
Where There’s Smoke…

July 29, 2025 • Addison Wiggin

Against the earnings backdrop, the Fed begins its two-day meeting. Given Trump’s open desires for lower rates, Jerome Powell and the Fed governors are under political scrutiny as much as they usually are under the watchful eye of Wall Street.

While most big analysts expect no change in rates, one voice is warning markets that the Fed might… raise rates.

Raise rates…what?! Now?! Sacrilege!

“The unemployment rate is low, but the rate of inflation is somewhat elevated,” economist William Silber argues in The Wall Street Journal.

“That suggests, if anything, the target interest rate should be higher to push down inflation.”

Inflation is still running hot — 2.7% in June, up from 2.4% in May — and unemployment ticked down to 4.1%. Despite pressure, the Fed hasn’t budged since December, holding rates steady at 4.25–4.50%.

Where There’s Smoke…
The Crack-Up Boom – Part I

July 28, 2025 • Addison Wiggin

The crash of the Nasdaq was caused by the people who bid up prices in the years preceding.

In the 5 years ahead of the 2000 crash, prices rose six times.

Had buyers not been so bullish, sellers would not have had so much to sell. In the event, prices fell in half . . . and then in half again.

The crash did not just happen; it happened because of the bubble in tech shares. A bubble is a natural market phenomenon. But bubbles are created by man; all bubbles are destroyed by men too.

The Crack-Up Boom – Part I