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Very compelling read and it (alongside ‘Put Your Money Where the Movement Is’) led me to think about how impact investing fits into the alt space. Even though impact investing startups continue to invest in traditional stocks, I feel that the driver behind these investments is very much an alternate desire that isn’t very well served in the current markets. For example, OpenInvest offers individuals a platform to ‘invest their values’ and I believe that anyone who invests with them cares little about the underlying asset and is largely driven by their values. So, could investing in 'values' in itself be called an alt space? There can also be an intersection between impact investing and the possibility of investing with/in an influencer which you talk about. For example, someone focused on managing climate change could chose to invest with/in Leonardo DiCaprio! Would love to hear your thoughts on this as well.

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Thanks Sid. Great points. Impact investing can definitely fit into the alts space in a number of ways. Certainly, there are companies and funds that are impact-focused and that would definitely sit under the umbrella of alts. And yes, people are driven by values based investing (into public or private markets companies), so ESG / impact investing could definitely be considered "movement-based investing."

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Future of the alts space is indeed very exciting, and another possible outcome could be one company emerging as a dominant player across multiple alt assets. Each alt asset could be viewed as a submarket these companies are trying to dominate before gradually expanding into related / broader alt assets. eBay started with a small niche but dominating online auction marketplace was the overarching goal. We might one day see a platform that not only allows one to deal in crypto but also lets one invest in a collection of iconic Cristiano Ronaldo cleats alongside Ronaldo himself. So perhaps for some of the players in the alt investment landscape, the landscape in itself might be the endgame.

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