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  "documentTitle": "This is the pitch deck that helped convince Blackstone's Tony James;; NerdWallet's cofounder;; and Sequoia Capital to invest in the seed round of a startup disrupting retirement investments",
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  "notes": "The slide uses a map graphic to anchor the $12B figure, though the context of the $12B is not explicitly defined as TAM or AUM in the text.",
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      "text": "The result: Alternatives currently comprise less than 2% of retirement savings.",
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      "text": "Retirement savings in alternatives: 2%",
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      "text": "Traditional plan administrators and custodians treat alternatives like they once treated options, restricting an estimated 150 million US retirement accounts to custodian-approved registered securities. This, as well as a confusing and expensive DIY investment process, keep barriers to entry artificially high. The result: Alternatives currently comprise less than 2% of retirement savings.",
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      "text": "Given market inefficiencies, the private market holds unique potential for better, and more consistent, returns.",
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      "text": "THE PROBLEM",
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