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Alden Row and the Capital Stack (Where Your Money Actually Sits)
∙ Paid
When a friend first started bringing me decks, there was one line he’d point at every single time: “Sean, they got skin in the game.” He wasn’t wrong to like it. But here’s the question almost nobody asks about that sponsor equity: where does it actually sit in the capital stack?
I promised you we’d open up Alden Row, the fictional 11-page investment sum…
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