“The credit market is standing in front of a significant revolution,”
said Liquidity co-founder and CEO, Ron Daniel, in a recent episode of the 9fin podcast.

Daniel was invited to unpack the notable shifts underway in private credit, covering everything from why venture debt differs fundamentally from tech lending to how macroeconomic forces are reshaping the private credit market landscape.

Sitting down with senior private credit reporter Peter Benson, he also dove into one of the private creditsector’s most pressing challenges: accurately pricing risk in a world where future value is anything but static.

As Daniel explains: “If you look at credit in the entire history of humankind, it hasn’t changed much... But now, with the value of a tech company often being in the future, being able to price the risk is almost impossible if you aren’t able to monitor the risk change over time.”