Robert Leonard talks with Chris Lustrino about online private markets, equity crowdfunding, how to value, analyze, and rate private businesses as compared to publicly owned companies, and much, much more! Chris is Founder & CEO of KingsCrowd, the first ratings and analytics service for the online private markets. He has raised $2.5M from 2,100 investors to date and grown his business to over 350,000 subscribers and 20 full time staff. Prior to founding KingsCrowd, he worked on behalf of private equity clients at LEK Consulting from 2014 to 2017. He also founded Simple.Innovative.Change, a Fintech publication focused on alternative investments and lending, and was a finalist for the 2018 LendIt Fintech Journalist of the Year. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 03:29 - What an online private market is, what equity crowdfunding is, and how Title II of the JOBS Act made both possible 06:13 - What a ratings and analytics business does and how they remain objective when analyzing other private businesses 10:02 - What to look for when analyzing a private business and how it is different from analyzing a publicly traded company 13:47 - The red flags to watch out for when analyzing private companies and what specific security-type investments people should avoid  24:08 - What hidden gems to look for when assessing private companies that are raising money 29:49 - How Chris views diversification when investing in private companies and how important it is  32:24 - How returns in private businesses differ from traditional public stocks 37:29 - How private equity investors actually realize returns and how they get liquidity 42:23 - What SAFE is as an acronym (S-A-F-E), and not just the word “safe” as a security type 49:10 - What the difference between pre-money and post-money valuations is ✔️ Subscribe to Millennial Investing podcast show: https://open.spotify.com/show/7dnn22EWyo6MLsPaR492BM 🖊️ Access our free show notes and transcript here: https://www.theinvestorspodcast.com/millennial-investing/becoming-an-angel-investor ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ LISTEN 🎧 TO OTHER SHOWS FROM OUR NETWORK: ₿ If you're interested in Bitcoin, checkout our Bitcoin Fundamentals podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F8wOLjjwNCM5B1qFdrtTdTZ 📚Dive into value investing and learn more about billionaires with our We Study Billionaires podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F9dDPFYGAHRbrWoToCe2uoU 🏘 Learn the ins and outs of real estate investing with our Real Estate 101 podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F8Yw_8xO2nk-RD7fhb3yktn 💸Get introduced to the world of investing with our Millennial Investing podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F_p00VYv3psJ8rhDAGOvR5W ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ FOLLOW US ON SOCIAL MEDIA📱: 💻 Facebook: https://www.facebook.com/groups/theinvestorspodcast/ 👔 Linkedin: https://www.linkedin.com/company/the-investor's-podcast/ 🐦Twitter: https://twitter.com/TIP_Network ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ 📥 Download Stig & Preston's 1-page checklist for finding great stock picks: https://www.theinvestorspodcast.com/form-youtube-checklist/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ❗DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.