Tom Manatos spent 20 years navigating Washington from both sides - as a Capitol Hill staffer who received the calls from advocates, and as the person making those calls on behalf of Spotify, Block, and the Internet Association.

In this episode, he walks through how political access actually works: who the real decision-makers are, what it costs to get in the room, why state government is where business owners have the most leverage, and what the crypto industry's $193 million super PAC still hasn't been able to buy.

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Key Topics Covered

• Why lobbyists rarely talk directly to elected officials - and which relationships actually move policy outcomes
• How individual campaign donation limits work at the federal and state level, and what bundling changes
• What a super PAC can and cannot do, with current examples from crypto, Meta, and Anthropic
• Why state and local government produces legislation at far higher volume than Congress - and why that matters for operators in regulated industries
• How a coalition of platforms reversed a tax reporting change that would have affected millions of ordinary Americans
• The bipartisan reality behind closed doors - what actually gets legislation across the finish line
• Why domain expertise doesn't get you a callback unless it's attached to electoral relevance
• AI regulation: where Congress is, how far behind the industry it is, and what's likely to happen next

Episode Resources

• Find a Government Job: https://www.tommanatosjobs.com/
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Long Angle is a private, vetted global community of accomplished entrepreneurs, executives and professionals who have reached meaningful financial milestones and want to navigate wealth with peers who understand their challenges, opportunities, responsibilities and ambitions.

Today we're thrilled to welcome Joline Godfrey, a financial parenting expert, clinical social worker, and author with over 30 years working directly with affluent families. Her question: how do you raise a financially capable kid when you can afford to solve every problem for them?

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Key Topics Covered
• Why the ability to give your kids everything is also the biggest obstacle to raising capable adults, and what Joline calls the "paradox of wealth"
• The invisible allowance: the unacknowledged sum most HNW families spend subsidizing their kids' lifestyle without ever naming it — and why that gap becomes a serious problem the moment the subsidy stops
• Why structuring an allowance around what you approve of versus what you don't is quietly killing your child's decision-making practice
• The reframe from "allowance" to "practice money" — and what changes when kids understand they are learning to manage capital, not just spending pocket change
• The FISH framework — Financial, Intellectual, Social and Human capital — and which of the four most affluent parents are systematically under-developing in their children
• How a 12-year-old built a real coloring book business on Amazon, learned margin differences between online and door-to-door sales, and what her parents still got wrong
• What Joline tells families who want to subsidize their adult children indefinitely, and the story of the client who asked for financial education at 60

Valuable Links
• Subscribe to Navigating Wealth Newsletter: https://www.longangle.com/navigating-wealth-podcast
• Connect with Joline Godfrey: https://www.bounce-ten.com
Socials
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Long Angle is a private, vetted global community of accomplished entrepreneurs, executives and professionals who have reached meaningful financial milestones and want to navigate wealth with peers who understand their challenges, opportunities, responsibilities and ambitions.

Hosted by the founders of the Long Angle community, Navigating Wealth explores how experienced investors, founders and operators actually approach the real questions wealth creates — from private markets and capital allocation to business exits and life design.

Today we're thrilled to welcome Katie Fowler, Principal at Blue Owl Capital, one of the largest non-bank direct lenders in the United States managing over $150 billion in credit assets.

The past six months have produced a cascade of private credit headlines: cockroaches, GFC 2.0, redemption gates, and Katie joins us from inside the portfolios to separate what the data actually shows from what the media has been reporting.

In this conversation, we cover what started the panic, why declining returns are a rate math story and not a credit story, how software exposure is being mispriced, and what the current redemption wave means for investors holding these assets.

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Key Topics Covered

• Why the defaults that triggered the private credit panic were primarily financed by banks, not non-bank direct lenders, and why that distinction matters for anyone evaluating their current allocation

• How to benchmark private credit returns correctly: against comparable liquid alternatives like high yield bonds, not against the peak SOFR environment of 2022-2023

• What a 2x interest coverage ratio signals about middle market borrower health — and why lower base rates and tighter spreads mark a more credit-positive environment, not a warning signal

• How the 5% quarterly redemption gate is structurally supported by 6-8% natural quarterly repayments, and why a fund executing within that structure is working exactly as designed

• The three questions every private credit investor should ask before making any redemption or allocation decision

• What Blue Owl's $1.4 billion open-market transaction at 99.7% of par tells investors about the gap between book marks and publicly listed BDC share prices

Valuable Links

• Subscribe to Navigating Wealth Newsletter: https://www.longangle.com/navigating-wealth-podcast

• Learn More About Daily Body Coach: http://www.dailybodycoach.com/navigatingwealth

Socials

• LinkedIn: https://www.linkedin.com/company/long-angle

• Twitter/X: https://x.com/LongAngleHNW

• Instagram: https://www.instagram.com/longanglehnw/

• Facebook: https://www.facebook.com/longanglehnw

Long Angle is a private, vetted global community of accomplished entrepreneurs, executives and professionals who have reached meaningful financial milestones and want to navigate wealth with peers who understand their challenges, opportunities, responsibilities and ambitions.

Hosted by the founders of the Long Angle community, Navigating Wealth explores how experienced investors, founders and operators actually approach the real questions wealth creates — from private markets and capital allocation to business exits and life design.