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• Wealthtech is hot. VCs are interested, but not that many experts in the space.

• Nobody understands why VCs are investing in RIA rollups. Most can’t figure out the math and how there is a successful exit. I guess we will find out in the coming years, but feels like a better playbook for PE investors.

• Everyone mentions leaving Vegas as quickly as possible. The amount of people I met only attending for 24hrs is 10x last year.

• Meetings are everywhere including the empty blackjack tables. Having a badge to the conference means nothing as there are more people in Vegas for the event then people with badges for the event.

• Endless happy hours, dinners, breakfasts and private meeting spaces. Any place in and around the Venetian was rented out. Every event is shoulder to shoulder packed.

• Every VC event has a corporate sponsor.

• “Is this 2021?” Lots of people talking about valuations at later stage getting out of control, preemptive rounds, and the feeling of frothiness.

• AI is everywhere but nowhere. Lots of interest in AI Agents. Lots of interest in using AI with very strict compliance, data controls, and security.

Arguably one of the better times of the year to meet everyone necessary in one place for 24-48hrs. The downside is everyone running around trying to find each other, trying to attend a million things at one time and very little focus.

See you next year.