Ep 03: How Hive Financial Assets Uses AI-Driven Underwriting to Power Consumer Private Credit

Ep 07 Part 1: VION Investments’ Stacey Schacter on Distressed Receivables, Specialty Finance, and Risk Management

Host Brian Dally interviews Stacey Schacter, founder and CEO of VION Investments, a liquidity provider focused on performing and non-performing consumer and commercial receivables. Stacey recounts moving from tax and securities law into major bankruptcy and liquidation work, becoming CEO of a receivables division, then founding VION 17 years ago with backing from a New York private equity group. He explains VION’s approach across varied transactions,, discusses fraud seen in auto finance, and outlines how VION evaluates opportunities via specialized knowledge, avoiding over-leverage and binary bets, using data-driven stress scenarios, and favoring deals with wider margins for error. 00:00 Welcome and Mission 00:43 Meet Stacey Schacter 02:48 Early Career Pivot 05:36 Founding VION in 2008 07:04 What VION Actually Does 09:38 Fraud Stories in Auto 10:18 Performing vs Nonperforming 12:50 Froth Leverage and Patience 14:20 Private Credit vs Spec Fin 18:49 Managing Distress Risk 21:46 Wrap Up Beyond the Stock Market podcast: https://groundfloor.com/podcast [https://groundfloor.com/podcast] Connect with Brian Dally on LinkedIn: https://www.linkedin.com/in/bdally/ [https://www.linkedin.com/in/bdally/] Connect with Stacey Schacter on LinkedIn: https://www.linkedin.com/in/staceyjschacter/ [https://www.linkedin.com/in/staceyjschacter/] References: * VION Investments: https://www.vioninv.com/ [https://www.vioninv.com/] * DeLoreon Motor Company: https://delorean.com/ [https://delorean.com/] * Advanta Bank: https://www.advantabankcorp.com/ [https://www.advantabankcorp.com/] * SpaceX: https://www.spacex.com/ [https://www.spacex.com/] The views and opinions expressed in this podcast are those of the participants and do not constitute investment advice, a solicitation, or an offer to buy or sell any security or financial instrument. Past performance is not indicative of future results. All investments involve risk, including the possible loss of principal. Any return figures or projections discussed are illustrative only and are not guaranteed. Private market investments may be illiquid and are not suitable for all investors. Please consult a qualified financial advisor before making any investment decisions.

Ep 06: The Problems With Private Markets: Host Brian Dally Shares His Perspective

In this episode of Groundfloor’s “Beyond the Stock Market,” host Brian Dally unpacks the negative headlines about private credit and argues the turmoil reflects structural issues and a liquidity/transparency mismatch. He contrasts the Wall Street aggregator models, where investors are forced to take on “manager of manager” risk, with Groundfloor’s direct, retail-first approach. After describing Groundfloor’s history since 2013, its focus on real estate debt, Brian emphasizes asset-level transparency, short-term loans, and vertical integration in origination, underwriting, and recovery as key differences in managing risk. 00:00 Intro 00:35 Private credit’s negative headlines 01:12 Groundfloor origin story 03:25 What are the issues behind private markets 06:59 Why Groundfloor is different 08:11 Retail investor takeaway Beyond the Stock Market podcast: https://groundfloor.com/podcast [https://groundfloor.com/podcast] Connect with Brian Dally on LinkedIn: https://www.linkedin.com/in/bdally/ [https://www.linkedin.com/in/bdally/] The views and opinions expressed in this podcast are those of the participants and do not constitute investment advice, a solicitation, or an offer to buy or sell any security or financial instrument. Past performance is not indicative of future results. All investments involve risk, including the possible loss of principal. Any return figures or projections discussed are illustrative only and are not guaranteed. Private market investments may be illiquid and are not suitable for all investors. Please consult a qualified financial advisor before making any investment decisions.

Ep 05 Part 2: Market Trends, AI CapEx Signals, and More About Stock Finance with Serengeti Asset Management

Groundfloor CEO Brian Dally continues the conversation with Ray Yousefian of Serengeti Asset Management on where the market cycle stands, key signals like interest rates, demand, and hyperscaler CapEx. They discuss volatility across public equities and private credit, including pressure on software values, semiconductor strength, and credit stress from over-levered software firms. Ray contrasts equity’s compounding returns with private credit’s income-oriented cash yield and says both markets remain healthy absent major macro dislocations. They outline the Groundfloor–Serengeti partnership, positioning stock finance as a way to offer downside protection with capped upside relative to direct late-stage equity. 00:00 Welcome Back 00:27 Market Cycle Signals and AI CapEx 02:39 Public Equities vs Private Credit 05:50 Equity Compounding vs Credit Income 07:02 Groundfloor Serengeti Partnership 08:19 Big Cat Fund Return Profile 10:30 What’s Next for Serengeti 12:20 Rapid Fire Investing Q&A 14:57 Closing Beyond the Stock Market podcast: https://groundfloor.com/podcast [https://groundfloor.com/podcast] Connect with Brian Dally on LinkedIn: https://www.linkedin.com/in/bdally/ [https://www.linkedin.com/in/bdally/] Connect with Ray Yousefian on LinkedIn: https://www.linkedin.com/in/raymond-yousefian/ [https://www.linkedin.com/in/raymond-yousefian/] References: * Serengeti Asset Management: https://serengeti-am.com/ [https://serengeti-am.com/] The views and opinions expressed in this podcast are those of the participants and do not constitute investment advice, a solicitation, or an offer to buy or sell any security or financial instrument. Past performance is not indicative of future results. All investments involve risk, including the possible loss of principal. Any return figures or projections discussed are illustrative only and are not guaranteed. Private market investments may be illiquid and are not suitable for all investors. Please consult a qualified financial advisor before making any investment decisions.

Ep 05 Part 1: Serengeti’s Structured Approach to Late-Stage Private Tech

Groundfloor CEO Brian Dally hosts Ray Yousefian, Senior Managing Director at Serengeti Asset Management, to discuss how Serengeti structures investments around some of the world’s fastest-growing private technology companies. Ray explains how Serengeti helps founders, employees, and early investors unlock liquidity without fully selling their equity positions, while offering investors a more downside-protected way to gain exposure to late-stage private markets. The conversation explores overcollateralization, private market liquidity, downside protection, and why structured private credit strategies may appeal to investors seeking alternatives to traditional equity exposure. 00:00 Welcome and Guest Intro 01:30 Ray’s Career Journey 04:05 What Special Situations Investing Means 06:10 Why Employees Need Liquidity 08:15 Overcollateralization Explained 10:05 Managing Downside Risk 11:40 Where This Fits in a Portfolio 14:00 Building Exposure to Private Tech Leaders 17:05 Understanding the Big Cat Fund 20:15 Return Structure and Investor Liquidity 22:10 Closing and Part 2 Preview Beyond the Stock Market podcast: https://groundfloor.com/podcast [https://groundfloor.com/podcast] Connect with Brian Dally on LinkedIn: https://www.linkedin.com/in/bdally/ [https://www.linkedin.com/in/bdally/] Connect with Ray Yousefian on LinkedIn: https://www.linkedin.com/in/raymond-yousefian/ [https://www.linkedin.com/in/raymond-yousefian/] References: * Serengeti Asset Management: https://serengeti-am.com/ [https://serengeti-am.com/]

Ep 04: Homegrown’s Revenue-Based Capital for Brick-and-Mortar Businesses

Groundfloor CEO Brian Dally hosts Michael Davis, CEO and co-founder of Homegrown, a fintech providing growth capital to proven brick-and-mortar operators such as restaurants, fitness studios, and retailers. Michael shares how his parents’ struggles getting bank financing inspired Homegrown and explains why traditional bank lending often fails these entrepreneurs due to regulatory risk limits and a cumbersome process. Homegrown offers revenue-based expansion capital via capped-return revenue contracts, designed to protect business cash flow and provide investors monthly payments with upside tied to growth. Michael discusses underwriting signals like performance through disruptions, diversification from existing locations, and the idea that local businesses can help absorb AI-driven job dislocation. He also describes investor appeal: regular cash flow, risk-adjusted returns, and backing tangible local businesses. 00:00 Welcome and Guest Intro 01:55 Homegrown Origin Story 03:50 Why Banks Say No 06:46 Underwriting Real Risk 09:22 What Homegrown Funds 12:05 Revenue Contract Explained 17:47 AI Shock Absorber 20:57 Staying Resilient Now 24:34 Winning Investor Trust 28:59 Rapid Fire Round 33:28 Closing and Where to Find Beyond the Stock Market podcast: https://groundfloor.com/podcast [https://groundfloor.com/podcast] Connect with Brian Dally on LinkedIn: https://www.linkedin.com/in/bdally/ [https://www.linkedin.com/in/bdally/] Connect with Michael Davis on LinkedIn: https://www.linkedin.com/in/michaeldavisbuilds/ [https://www.linkedin.com/in/michaeldavisbuilds/] References: * Homegrown: https://joinhomegrown.com/ [https://joinhomegrown.com/] * The Hard Thing About Hard Things by Ben Horowitz: https://www.amazon.com/Hard-Thing-About-Things-Building/dp/0062273205 [https://www.amazon.com/Hard-Thing-About-Things-Building/dp/0062273205] * Acquired Podcast: https://www.acquired.fm/ [https://www.acquired.fm/]