You can buy this home in exchange of Anthropic shares
What's the story
A unique property in Mill Valley, California, is on the market with an unusual condition. The owner, investment banker Storm Duncan, has listed his 13-acre estate on LinkedIn. However, he is looking for equity in artificial intelligence (AI) company Anthropic. The San Francisco Standard first reported on this unusual deal.
Investment strategy
'Under-concentrated in AI investments'
Duncan, who describes himself as a long-time Bay Area resident, said this deal is a "diversification play." He explained that he is "under-concentrated in AI investments relative to the importance of AI in the future, and over-concentrated in real estate." He thinks a young employee at Anthropic could be "in the exact opposite scenario," making this trade mutually beneficial.
Deal details
Interested buyers can email him
Duncan has asked interested buyers to reach out via email for further discussions on the deal. He stressed that it would be a private transaction, not necessitating the outright sale of their stock. The LinkedIn post also mentioned that the homebuyer would "continue to retain 20% of the upside value of the shares exchanged for the duration of the lockup period."
Property history
He bought the house for $4.75M
Duncan had acquired the Mill Valley estate back in 2019 for $4.75 million. He did not disclose the name of its current occupant, a "high profile VC." The unusual sale condition has drawn attention to this high-value property and raised questions about how such a transaction would work in practice.