What if the biggest digital opportunity today isn’t online at all, but it’s the moment you’re standing at an airport gate, at a stadium concourse, or in a checkout line? In this episode of the LionTree Podcast, Alex Michael sits down with Tim Armstrong, former Google, AOL, and Verizon/Oath executive and now Founder and CEO of Flowcode, to unpack why he believes the next wave of digital value will be created at the intersection of physical moments and instant online action, and how his company Flowcode is helping brands turn “in-the-wild” attention into measurable engagement through QR-powered touchpoints, experience design, and analytics. The pair also unpack what AI is changing (and not changing) about search, distribution, and winning the split-second when interest becomes action.

DISCLAIMER: This podcast is for information purposes only. The opinions and views expressed in this material are solely the participant’s personal opinions and do not necessarily reflect the opinions of LionTree or its affiliates. This material should not be copied, distributed, published, or reproduced, in whole or in part, or disclosed by any recipient to any other person without the express written consent of LionTree. The information contained in this material does not constitute a recommendation, offer or solicitation from any LionTree entity to the recipient with respect to the purchase or sale of any security, and LionTree is not providing any financial, economic, legal, investment, accounting, or tax advice through this material or to its recipient. Neither LionTree nor any of its affiliates makes any representation or warranty, express or implied, as to the accuracy or completeness of the statements or any information contained in this material and any liability therefore (including in respect of direct, indirect, or consequential loss or damage of any kind whatsoever) is expressly disclaimed. LionTree does not undertake any obligation whatsoever to provide any form of update, amendment, change or correction to any of the information, statements, comments, views, or opinions set forth in this material. Third-party content may be published on LionTree pages in response to this material. Such content is not reviewed by LionTree before it is displayed and LionTree cannot guarantee the accuracy or completeness of such content. The opinions and views expressed by the authors of such third-party content are solely the author’s personal opinions and do not necessarily reflect the opinions of LionTree or its affiliates. LionTree reserves the right to remove, alter or edit any third-party content published on LionTree pages. LionTree expressly disclaims any liability (including in respect of direct, indirect, or consequential loss or damage of any kind whatsoever) arising out of, or in connection with, the access or use of any social media platform or LionTree page. Use of a social media platform or LionTree page is at your own risk. Securities of any investment funds managed by LionTree are privately offered to selected investors only by means of each such fund’s governing documents and related subscription materials. Listeners and viewers should not assume that companies identified in this audio and/or video are representative of all investments made or recommended by LionTree on behalf of each firm’s clients. An investment with LionTree is speculative and involves significant risks including the potential loss of all or a substantial portion of invested capital and the lack of liquidity of an investment. Past performance is not indicative of future results.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

On a special episode of The LionTree Podcast, we explore how prediction markets are repshaping the way we understand uncertainty, truth and decision-making. In partnership with Boardroom, the media brand at the intersection of sports, business and entertainment, we present a conversation between Tarek Mansour, Founder and CEO of Kalshi, and Rich Kleiman, Founder and CEO of Boardroom.

In order of appearance, the predictions in the introduction come from: Kimmy Scotti, Founder and Managing Partner, Neon; Franklin Leonard, Founder, The Black List; and Betsy Morgan, Board Member, TOGETHXR.

DISCLAIMER: This podcast is for information purposes only. The opinions and views expressed in this material are solely the participant’s personal opinions and do not necessarily reflect the opinions of LionTree or its affiliates. This material should not be copied, distributed, published, or reproduced, in whole or in part, or disclosed by any recipient to any other person without the express written consent of LionTree. The information contained in this material does not constitute a recommendation, offer or solicitation from any LionTree entity to the recipient with respect to the purchase or sale of any security, and LionTree is not providing any financial, economic, legal, investment, accounting, or tax advice through this material or to its recipient. Neither LionTree nor any of its affiliates makes any representation or warranty, express or implied, as to the accuracy or completeness of the statements or any information contained in this material and any liability therefore (including in respect of direct, indirect, or consequential loss or damage of any kind whatsoever) is expressly disclaimed. LionTree does not undertake any obligation whatsoever to provide any form of update, amendment, change or correction to any of the information, statements, comments, views, or opinions set forth in this material. Third-party content may be published on LionTree pages in response to this material. Such content is not reviewed by LionTree before it is displayed and LionTree cannot guarantee the accuracy or completeness of such content. The opinions and views expressed by the authors of such third-party content are solely the author’s personal opinions and do not necessarily reflect the opinions of LionTree or its affiliates. LionTree reserves the right to remove, alter or edit any third-party content published on LionTree pages. LionTree expressly disclaims any liability (including in respect of direct, indirect, or consequential loss or damage of any kind whatsoever) arising out of, or in connection with, the access or use of any social media platform or LionTree page. Use of a social media platform or LionTree page is at your own risk. Securities of any investment funds managed by LionTree are privately offered to selected investors only by means of each such fund’s governing documents and related subscription materials. Listeners and viewers should not assume that companies identified in this audio and/or video are representative of all investments made or recommended by LionTree on behalf of each firm’s clients. An investment with LionTree is speculative and involves significant risks including the potential loss of all or a substantial portion of invested capital and the lack of liquidity of an investment. Past performance is not indicative of future results.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

To start the year off right, Alex Michael sits down with Scott Belsky, founder of Behance, seed investor, and now partner at A24 and founder of A24 Labs, to walk through his predictions for 2026. Scott, who previously led product strategy and design at Adobe, has spent his career at the intersection of creative work and emerging technology.

In the episode, the pair explores how artificial intelligence is reshaping creativity, media, and the broader technology landscape, including shifts in hardware and operating systems, the changing value of data, the rise of AI‑native talent, and how “proof of craft” is becoming increasingly important in a world of abundant content. He also revisits his 2025 predictions and how the creative and media industries are standing up to rapid technological change.

Whether you follow technology or entertainment, this conversation offers a grounded look at the forces shaping the next chapter of creativity and innovation.

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DISCLAIMER: This podcast is for information purposes only. The opinions and views expressed in this material are solely the participant’s personal opinions and do not necessarily reflect the opinions of LionTree or its affiliates. This material should not be copied, distributed, published, or reproduced, in whole or in part, or disclosed by any recipient to any other person without the express written consent of LionTree. The information contained in this material does not constitute a recommendation, offer or solicitation from any LionTree entity to the recipient with respect to the purchase or sale of any security, and LionTree is not providing any financial, economic, legal, investment, accounting, or tax advice through this material or to its recipient. Neither LionTree nor any of its affiliates makes any representation or warranty, express or implied, as to the accuracy or completeness of the statements or any information contained in this material and any liability therefore (including in respect of direct, indirect, or consequential loss or damage of any kind whatsoever) is expressly disclaimed. LionTree does not undertake any obligation whatsoever to provide any form of update, amendment, change or correction to any of the information, statements, comments, views, or opinions set forth in this material. Third-party content may be published on LionTree pages in response to this material. Such content is not reviewed by LionTree before it is displayed and LionTree cannot guarantee the accuracy or completeness of such content. The opinions and views expressed by the authors of such third-party content are solely the author’s personal opinions and do not necessarily reflect the opinions of LionTree or its affiliates. LionTree reserves the right to remove, alter or edit any third-party content published on LionTree pages. LionTree expressly disclaims any liability (including in respect of direct, indirect, or consequential loss or damage of any kind whatsoever) arising out of, or in connection with, the access or use of any social media platform or LionTree page. Use of a social media platform or LionTree page is at your own risk. Securities of any investment funds managed by LionTree are privately offered to selected investors only by means of each such fund’s governing documents and related subscription materials. Listeners and viewers should not assume that companies identified in this audio and/or video are representative of all investments made or recommended by LionTree on behalf of each firm’s clients. An investment with LionTree is speculative and involves significant risks including the potential loss of all or a substantial portion of invested capital and the lack of liquidity of an investment. Past performance is not indicative of future results.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

LionTree’s James Lindsay visits the massive studio complex of Merwas in Riyadh, Saudi Arabia (the world’s largest music studio, according to Guinness) to converse with Danny Townsend, CEO of SURJ Sports Investment. Danny, who began his career playing football (a/k/a soccer) for Australia’s Sydney United Team, had a 26 year-long career on the business side of sport prior to his 2023 appointment as CEO of SURJ. The pair hone in on Danny’s broad remit, underlining the “dual mandate” of successfully deploying Saudi Arabia’s Public Investment Fund (PIF) in the sports arena, as well as bringing about genuine social change by expanding youth sport participation and maximizing opportunities for female athletes such as Saudi MMA champion, Hattan Alsaif.

This podcast is for information purposes only. The opinions and views expressed in this material are solely the participant’s personal opinions and do not necessarily reflect the opinions of LionTree or its affiliates. This material should not be copied, distributed, published, or reproduced, in whole or in part, or disclosed by any recipient to any other person without the express written consent of LionTree. The information contained in this material does not constitute a recommendation, offer or solicitation from any LionTree entity to the recipient with respect to the purchase or sale of any security, and LionTree is not providing any financial, economic, legal, investment, accounting, or tax advice through this material or to its recipient. Neither LionTree nor any of its affiliates makes any representation or warranty, express or implied, as to the accuracy or completeness of the statements or any information contained in this material and any liability therefore (including in respect of direct, indirect, or consequential loss or damage of any kind whatsoever) is expressly disclaimed. LionTree does not undertake any obligation whatsoever to provide any form of update, amendment, change or correction to any of the information, statements, comments, views, or opinions set forth in this material.

Third-party content may be published on LionTree pages in response to this material. Such content is not reviewed by LionTree before it is displayed and LionTree cannot guarantee the accuracy or completeness of such content. The opinions and views expressed by the authors of such third-party content are solely the author’s personal opinions and do not necessarily reflect the opinions of LionTree or its affiliates. LionTree reserves the right to remove, alter or edit any third-party content published on LionTree pages. LionTree expressly disclaims any liability (including in respect of direct, indirect, or consequential loss or damage of any kind whatsoever) arising out of, or in connection with, the access or use of any social media platform or LionTree page. Use of a social media platform or LionTree page is at your own risk.

Securities of any investment funds managed by LionTree are privately offered to selected investors only by means of each such fund’s governing documents and related subscription materials. Listeners and viewers should not assume that companies identified in this audio and/or video are representative of all investments made or recommended by LionTree on behalf of each firm’s clients. An investment with LionTree is speculative and involves significant risks including the potential loss of all or a substantial portion of invested capital and the lack of liquidity of an investment. Past performance is not indicative of future results.

For further information, please see: https://liontree.com/disclaimer/. If you have questions, please go to https://liontree.com/ and select “Contact.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

LionTree’s Alex Michael chats with journalist Tara Palmeri, who, after reporting for everyone from the New York Post, CNN, Politico, Puck and ABC News, has struck out on her own with her substack, “The Red Letter,” as well as “The Tara Palmeri Show” on YouTube. The pair explores the entrepreneurial landscape for journalists, and how the confluence of media influencers and hard news is shifting the center of power in the news industry.

This podcast is for information purposes only. The opinions and views expressed in this material are solely the participant’s personal opinions and do not necessarily reflect the opinions of LionTree or its affiliates. This material should not be copied, distributed, published, or reproduced, in whole or in part, or disclosed by any recipient to any other person without the express written consent of LionTree. The information contained in this material does not constitute a recommendation, offer or solicitation from any LionTree entity to the recipient with respect to the purchase or sale of any security, and LionTree is not providing any financial, economic, legal, investment, accounting, or tax advice through this material or to its recipient. Neither LionTree nor any of its affiliates makes any representation or warranty, express or implied, as to the accuracy or completeness of the statements or any information contained in this material and any liability therefore (including in respect of direct, indirect, or consequential loss or damage of any kind whatsoever) is expressly disclaimed. LionTree does not undertake any obligation whatsoever to provide any form of update, amendment, change or correction to any of the information, statements, comments, views, or opinions set forth in this material.

Third-party content may be published on LionTree pages in response to this material. Such content is not reviewed by LionTree before it is displayed and LionTree cannot guarantee the accuracy or completeness of such content. The opinions and views expressed by the authors of such third-party content are solely the author’s personal opinions and do not necessarily reflect the opinions of LionTree or its affiliates. LionTree reserves the right to remove, alter or edit any third-party content published on LionTree pages. LionTree expressly disclaims any liability (including in respect of direct, indirect, or consequential loss or damage of any kind whatsoever) arising out of, or in connection with, the access or use of any social media platform or LionTree page. Use of a social media platform or LionTree page is at your own risk.

Securities of any investment funds managed by LionTree are privately offered to selected investors only by means of each such fund’s governing documents and related subscription materials. Listeners and viewers should not assume that companies identified in this audio and/or video are representative of all investments made or recommended by LionTree on behalf of each firm’s clients. An investment with LionTree is speculative and involves significant risks including the potential loss of all or a substantial portion of invested capital and the lack of liquidity of an investment. Past performance is not indicative of future results.

For further information, please see: https://liontree.com/disclaimer/. If you have questions, please go to https://liontree.com/ and select “Contact.”

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Join Rachel Kraus and Caryl Stern as they examine the intersection of purpose and business. In this episode, our hosts hear from James Turk, CEO & Founder of The Turk Group. With more than 25 years of experience developing leaders at companies such as Spotify, Squarespace, and Goldman Sachs, James helps people move from managing tasks to truly inspiring others. Tune in to hear insights from James’s recently published book, “The Giving Game: Becoming The Leader That Others Want To Follow.”

This podcast is for information purposes only. The opinions and views expressed in this material are solely the participant’s personal opinions and do not necessarily reflect the opinions of LionTree or its affiliates. This material should not be copied, distributed, published, or reproduced, in whole or in part, or disclosed by any recipient to any other person without the express written consent of LionTree. The information contained in this material does not constitute a recommendation, offer or solicitation from any LionTree entity to the recipient with respect to the purchase or sale of any security, and LionTree is not providing any financial, economic, legal, investment, accounting, or tax advice through this material or to its recipient. Neither LionTree nor any of its affiliates makes any representation or warranty, express or implied, as to the accuracy or completeness of the statements or any information contained in this material and any liability therefore (including in respect of direct, indirect, or consequential loss or damage of any kind whatsoever) is expressly disclaimed. LionTree does not undertake any obligation whatsoever to provide any form of update, amendment, change or correction to any of the information, statements, comments, views, or opinions set forth in this material.

Third-party content may be published on LionTree pages in response to this material. Such content is not reviewed by LionTree before it is displayed and LionTree cannot guarantee the accuracy or completeness of such content. The opinions and views expressed by the authors of such third-party content are solely the author’s personal opinions and do not necessarily reflect the opinions of LionTree or its affiliates. LionTree reserves the right to remove, alter or edit any third-party content published on LionTree pages. LionTree expressly disclaims any liability (including in respect of direct, indirect, or consequential loss or damage of any kind whatsoever) arising out of, or in connection with, the access or use of any social media platform or LionTree page. Use of a social media platform or LionTree page is at your own risk.

Securities of any investment funds managed by LionTree are privately offered to selected investors only by means of each such fund’s governing documents and related subscription materials. Listeners and viewers should not assume that companies identified in this audio and/or video are representative of all investments made or recommended by LionTree on behalf of each firm’s clients. An investment with LionTree is speculative and involves significant risks including the potential loss of all or a substantial portion of invested capital and the lack of liquidity of an investment. Past performance is not indicative of future results.

For further information, please see: https://liontree.com/disclaimer/. If you have questions, please go to https://liontree.com/ and select “Contact.”

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

LionTree’s Louis Kenna is joined in the company’s UK office by Lionel Assant, Global Co-Chief Investment Officer of Blackstone. Lionel came to Blackstone in 2003, four years prior to the firm going public; in that time, their AUM has risen from ~$27 Billion to around $1.1 Trillion. Executing on 70 plus strategies across four divisions, Lionel details how Blackstone’s scale enables them to make bold investments, and, via their long-standing involvement with Impetus, to apply time-tested Private Equity methodology to effect social good.

This podcast is for information purposes only. The opinions and views expressed in this material are solely the participant’s personal opinions and do not necessarily reflect the opinions of LionTree or its affiliates. This material should not be copied, distributed, published, or reproduced, in whole or in part, or disclosed by any recipient to any other person without the express written consent of LionTree. The information contained in this material does not constitute a recommendation, offer or solicitation from any LionTree entity to the recipient with respect to the purchase or sale of any security, and LionTree is not providing any financial, economic, legal, investment, accounting, or tax advice through this material or to its recipient. Neither LionTree nor any of its affiliates makes any representation or warranty, express or implied, as to the accuracy or completeness of the statements or any information contained in this material and any liability therefore (including in respect of direct, indirect, or consequential loss or damage of any kind whatsoever) is expressly disclaimed. LionTree does not undertake any obligation whatsoever to provide any form of update, amendment, change or correction to any of the information, statements, comments, views, or opinions set forth in this material.

Third-party content may be published on LionTree pages in response to this material. Such content is not reviewed by LionTree before it is displayed and LionTree cannot guarantee the accuracy or completeness of such content. The opinions and views expressed by the authors of such third-party content are solely the author’s personal opinions and do not necessarily reflect the opinions of LionTree or its affiliates. LionTree reserves the right to remove, alter or edit any third-party content published on LionTree pages. LionTree expressly disclaims any liability (including in respect of direct, indirect, or consequential loss or damage of any kind whatsoever) arising out of, or in connection with, the access or use of any social media platform or LionTree page. Use of a social media platform or LionTree page is at your own risk.

Securities of any investment funds managed by LionTree are privately offered to selected investors only by means of each such fund’s governing documents and related subscription materials. Listeners and viewers should not assume that companies identified in this audio and/or video are representative of all investments made or recommended by LionTree on behalf of each firm’s clients. An investment with LionTree is speculative and involves significant risks including the potential loss of all or a substantial portion of invested capital and the lack of liquidity of an investment. Past performance is not indicative of future results.

For further information, please see: https://liontree.com/disclaimer/. If you have questions, please go to https://liontree.com/ and select “Contact.”

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Join Rachel Kraus and Caryl Stern as they examine the intersection of purpose and business. In this episode, we hear from Raj Vinnakota, the President of the Institute for Citizens & Scholars. The organization's goal is to "equip young people with the civic skills necessary to navigate a divided country and become effective leaders," and Raj's first-hand experience in the corporate and non-profit world is a case study for productive engagement. As he works with leaders and educators across the country, Raj emphasizes the importance of developing your own skill of discernment, and not assigning equal value to every piece of information you come across. An insightful chat about the potential for reducing conflict in civic spaces everywhere.

This podcast is for information purposes only. The opinions and views expressed in this material are solely the participant’s personal opinions and do not necessarily reflect the opinions of LionTree or its affiliates. This material should not be copied, distributed, published, or reproduced, in whole or in part, or disclosed by any recipient to any other person without the express written consent of LionTree. The information contained in this material does not constitute a recommendation, offer or solicitation from any LionTree entity to the recipient with respect to the purchase or sale of any security, and LionTree is not providing any financial, economic, legal, investment, accounting, or tax advice through this material or to its recipient. Neither LionTree nor any of its affiliates makes any representation or warranty, express or implied, as to the accuracy or completeness of the statements or any information contained in this material and any liability therefore (including in respect of direct, indirect, or consequential loss or damage of any kind whatsoever) is expressly disclaimed. LionTree does not undertake any obligation whatsoever to provide any form of update, amendment, change or correction to any of the information, statements, comments, views, or opinions set forth in this material.

Third-party content may be published on LionTree pages in response to this material. Such content is not reviewed by LionTree before it is displayed and LionTree cannot guarantee the accuracy or completeness of such content. The opinions and views expressed by the authors of such third-party content are solely the author’s personal opinions and do not necessarily reflect the opinions of LionTree or its affiliates. LionTree reserves the right to remove, alter or edit any third-party content published on LionTree pages. LionTree expressly disclaims any liability (including in respect of direct, indirect, or consequential loss or damage of any kind whatsoever) arising out of, or in connection with, the access or use of any social media platform or LionTree page. Use of a social media platform or LionTree page is at your own risk.

Securities of any investment funds managed by LionTree are privately offered to selected investors only by means of each such fund’s governing documents and related subscription materials. Listeners and viewers should not assume that companies identified in this audio and/or video are representative of all investments made or recommended by LionTree on behalf of each firm’s clients. An investment with LionTree is speculative and involves significant risks including the potential loss of all or a substantial portion of invested capital and the lack of liquidity of an investment. Past performance is not indicative of future results.

For further information, please see: https://liontree.com/disclaimer/. If you have questions, please go to https://liontree.com/ and select “Contact.”

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

LionTree’s Antal Runneboom sits down with FJ Labs Founding Partner Fabrice Grinda, whose long and successful career in the tech space includes co-founding wireless mobile company Zingy as well as global marketplace OLX. Fabrice gives fascinating perspective into the opportunities around vertical-specific marketplaces; the process by which he and his FJ Labs partners select the hundreds of start-ups they’ve invested in; why humanoid robots and AI-powered investors are coming faster than any of us realize; and an inspiring vision for how future energy abundance will enable us to “waste energy” inventing the next cool thing.

This podcast is for information purposes only. The opinions and views expressed in this material are solely the participant’s personal opinions and do not necessarily reflect the opinions of LionTree or its affiliates. This material should not be copied, distributed, published, or reproduced, in whole or in part, or disclosed by any recipient to any other person without the express written consent of LionTree. The information contained in this material does not constitute a recommendation, offer or solicitation from any LionTree entity to the recipient with respect to the purchase or sale of any security, and LionTree is not providing any financial, economic, legal, investment, accounting, or tax advice through this material or to its recipient. Neither LionTree nor any of its affiliates makes any representation or warranty, express or implied, as to the accuracy or completeness of the statements or any information contained in this material and any liability therefore (including in respect of direct, indirect, or consequential loss or damage of any kind whatsoever) is expressly disclaimed. LionTree does not undertake any obligation whatsoever to provide any form of update, amendment, change or correction to any of the information, statements, comments, views, or opinions set forth in this material.

Third-party content may be published on LionTree pages in response to this material. Such content is not reviewed by LionTree before it is displayed and LionTree cannot guarantee the accuracy or completeness of such content. The opinions and views expressed by the authors of such third-party content are solely the author’s personal opinions and do not necessarily reflect the opinions of LionTree or its affiliates. LionTree reserves the right to remove, alter or edit any third-party content published on LionTree pages. LionTree expressly disclaims any liability (including in respect of direct, indirect, or consequential loss or damage of any kind whatsoever) arising out of, or in connection with, the access or use of any social media platform or LionTree page. Use of a social media platform or LionTree page is at your own risk.

Securities of any investment funds managed by LionTree are privately offered to selected investors only by means of each such fund’s governing documents and related subscription materials. Listeners and viewers should not assume that companies identified in this audio and/or video are representative of all investments made or recommended by LionTree on behalf of each firm’s clients. An investment with LionTree is speculative and involves significant risks including the potential loss of all or a substantial portion of invested capital and the lack of liquidity of an investment. Past performance is not indicative of future results.

For further information, please see: https://liontree.com/disclaimer/. If you have questions, please go to https://liontree.com/ and select “Contact.”

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Two-time NBA champion and Duke University mainstay Shane Battier checks in with LionTree’s resident sports expert, Alex Michael, to share his philosophy on what makes teams - and businesses - great. Shane discusses his experiences under Duke’s renowned Coach K (most recently lionized on “The Bear”), and reflects on the importance of the “glue guys” who help all of their colleagues shine. 

This podcast is for information purposes only. The opinions and views expressed in this material are solely the participant’s personal opinions and do not necessarily reflect the opinions of LionTree or its affiliates. This material should not be copied, distributed, published, or reproduced, in whole or in part, or disclosed by any recipient to any other person without the express written consent of LionTree. The information contained in this material does not constitute a recommendation, offer or solicitation from any LionTree entity to the recipient with respect to the purchase or sale of any security, and LionTree is not providing any financial, economic, legal, investment, accounting, or tax advice through this material or to its recipient. Neither LionTree nor any of its affiliates makes any representation or warranty, express or implied, as to the accuracy or completeness of the statements or any information contained in this material and any liability therefore (including in respect of direct, indirect, or consequential loss or damage of any kind whatsoever) is expressly disclaimed. LionTree does not undertake any obligation whatsoever to provide any form of update, amendment, change or correction to any of the information, statements, comments, views, or opinions set forth in this material.

Third-party content may be published on LionTree pages in response to this material. Such content is not reviewed by LionTree before it is displayed and LionTree cannot guarantee the accuracy or completeness of such content. The opinions and views expressed by the authors of such third-party content are solely the author’s personal opinions and do not necessarily reflect the opinions of LionTree or its affiliates. LionTree reserves the right to remove, alter or edit any third-party content published on LionTree pages. LionTree expressly disclaims any liability (including in respect of direct, indirect, or consequential loss or damage of any kind whatsoever) arising out of, or in connection with, the access or use of any social media platform or LionTree page. Use of a social media platform or LionTree page is at your own risk.

Securities of any investment funds managed by LionTree are privately offered to selected investors only by means of each such fund’s governing documents and related subscription materials. Listeners and viewers should not assume that companies identified in this audio and/or video are representative of all investments made or recommended by LionTree on behalf of each firm’s clients. An investment with LionTree is speculative and involves significant risks including the potential loss of all or a substantial portion of invested capital and the lack of liquidity of an investment. Past performance is not indicative of future results.

For further information, please see: https://liontree.com/disclaimer/. If you have questions, please go to https://liontree.com/ and select “Contact.”

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.