In this episode of StrictlyVC Download, Connie Loizos talks with Rainmaker Securities managing director Glen Anderson about the surge in the secondary market as investors race to buy shares in some of tech’s most sought-after private companies. From SpaceX to OpenAI to Anthropic, demand is intensifying ahead of an IPO window that is potentially reopening. Glen explains how the secondary market really works, why some companies have plenty of buyers but no sellers, and what recent activity reveals about investor sentiment. He also shares why SpaceX has been such an outlier, what’s behind the imbalance between OpenAI and Anthropic, and how institutional investors are navigating this increasingly competitive market.