Dan Benton's Rules For Tech Investing In 2026

RiskReversal Pod

RiskReversal Media

Business News, Business, Investing, News

4.7 • 836 Ratings

🗓️ 4 March 2026

⏱️ 76 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Dan Nathan interviews veteran tech investor Dan Benton about how tech investing has changed since Benton’s 1991 “20 rules” at Goldman Sachs and why he’s releasing new “2026 rules,” alongside launching a Substack. Benton contrasts a pre-internet, sell-side, information-advantage era with today’s commoditized data, retail tools, and faster markets, arguing investors now differentiate by identifying secular themes and sticking with them. He emphasizes tech as “the market,” the need to respect the Fed, and that momentum in tech is driven by multi-year estimate trajectories, revenue acceleration, and operating leverage, with valuation often secondary until growth decelerates. They discuss stock-based compensation distorting earnings quality, rotations within AI beneficiaries, crowding and risk-off selloffs, and uncertainties around hyperscaler CapEx and OpenAI’s private-market marks. The conversation covers SaaS disruption risk, Tesla and SpaceX “selling the future,” China’s advantages, and why markets are faster but not smarter. Links Rules For Tech Investing (Google Drive) Follow Dan's SubStack: substack.com/@danbenton —FOLLOW USYouTube: @RiskReversalMediaInstagram: @riskreversalmediaTwitter: @RiskReversalLinkedIn: RiskReversal Media

Transcript

Click on a timestamp to play from that location

0:00.0	When will M&A activity pick up? Will this year mark the return of IPOs? Listen to strategic alternatives,
0:07.2	a podcast from RBC Capital Markets, to get insights on these questions and more. Explore the trends in
0:14.0	market forces impacting deal flow and find out how companies, investors are shifting their strategies
0:19.3	to drive growth and unlock value.
0:21.7	Listen and subscribe to Strategic Alternatives Today, available wherever you get your podcasts.
0:27.7	Guy, I'm sure you're already up to speed on all things current.
0:31.1	Of course I am.
0:31.7	Their app makes managing your money saving even building credit super easy, Dan.
0:36.2	They have a new feature called paycheck advance you can get up
0:39.3	to 500 bucks before payday when you switch your paycheck and qualify now that i didn't know so now
0:45.0	when you sign up and you set up direct deposit you unlock so much more and it's super easy to get
0:50.8	started just go to current dot com slash okay that's okay a why go to current.com slash okay. That's okay-a-y. That's current.
0:55.9	com slash okay. Current is a financial technology company, not a bank. Banking services provided by
1:02.7	Choice Financial Group member FDIC and Cross River Bank member FDIC. Paycheck Advance is offered by
1:09.0	Finco Advance LLC, a financial technology company,
1:12.2	not a bank. Eligibility and available amounts may vary and are subject to change at any
1:16.7	time. For full terms and conditions, visit current.com or call 888-851-1172 for more information.
1:27.3	All right, welcome to the OK Computer Podcast. I'm Dan Nathan. I have my good friend Dan Benton here, returning to the podcast, Dan. Welcome back. Thank you, Dan. Good to be here. All right, you and I go back. I think we've done a few of these podcasts over the last few years. You know, we say this all the time. And I guess this is like any industry. You know, you look back over your long career and you say, you know what?
1:47.5	I knew that guy when.
1:49.0	And when I knew you, I didn't, I just knew of you.
1:52.0	You were a legendary at the time tech investor.
1:55.0	You still are that, but you were somebody that a lot of young folks like myself looked up to,
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from RiskReversal Media, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of RiskReversal Media and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.