Liberty Street's Munafo on the opportunities in late-stage private venture now

Christian Munafo, Chief Investment Officer at Liberty Street Advisors -- which runs the Private Shares Fund -- discusses how late-stage private venture companies are generating a huge chunk of economic power that occurs off the radar screen for most investors. He says the time is right for many investors to pursue the opportunity now, coming off of two years in which private shares have struggled, and the market for taking those companies public has been sluggish. Munafo believes the recent pickup in IPOs is a positive sign. He also discusses Destiny Tech 100, an exchange-traded closed-end portfolio that has been trading like a meme stock, with massive gains -- but also nose-bleed falls -- since its debut in March.