If you have questions about this year's US presidential election, we have answers. Swamp Notes is a new podcast from the FT News Briefing. Listen every Saturday morning as our journalists analyse and discuss the latest happenings in US politics. We’ll go beyond the horse race for the White House and offer a global perspective on the election.   You can subscribe to Swamp Notes here or wherever you get your podcasts. Hosted on Acast. See acast.com/privacy for more information.

In Silicon Valley, the promise of a massive payday for a start-up’s early employees and investors has hinged on those companies eventually going public or being sold off. But with the slowdown in initial public offerings and acquisitions, a different marketplace is set to heat up this year. It is called the venture secondary market, and it’s where both investors and early employees can trade their stakes in privately-held companies. The FT’s venture capital correspondent George Hammond explains the potential pitfalls of this opaque marketplace and why investors will be rushing to it in 2024.      - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading: Investors raise billions to buy discounted stakes in start-ups Carta customers say platform tried to trade their shares without consent Carta shuts trading platform after data privacy breach allegations Staying private: the booming market for shares in the hottest start-ups - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow George Hammond (@GeorgeNHammond) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.