{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Deal Flow Friday","title":"Relationship-Driven Capital: Malcolm Davies WAY Capital","html":"","width":"100%","height":180,"duration":3304,"description":"In this episode of Deal Flow Friday, David Moghavem sits down with Malcolm Davies of Way Capital to unpack what’s really happening in today’s capital markets—and how capital raising has fundamentally changed.\nThey explore why the traditional “spray and pray” approach to raising equity no longer works, and how the market has shifted toward a relationship-driven model where trust matters more than projected IRRs. Malcolm shares how Way Capital—short for “We Are You”—approaches capital advising by aligning with sponsors and focusing on long-term partnerships over transactional deals.The conversation also dives into how lenders are becoming increasingly creative, stepping into the equity stack and blurring the lines between debt and equity. From hybrid structures to profit participation, the capital stack is evolving in real time.In addition, they discuss how AI is reshaping the industry—from underwriting and deal flow to operations—and why access to information is no longer the key differentiator. Instead, relationships, credibility, and trust are emerging as the true bottlenecks in getting deals done.\nFor operators, investors, and anyone raising capital in today’s environment, this episode offers a clear perspective on how to navigate the current cycle and position for what’s ahead.\nChapters\n00:00 Current Global Inflection Point\n01:38 Personal Background and Family Influence\n02:41 The Value of Perspective and Gratitude\n03:19 Starting the Podcast and Market Knowledge\n04:46 AI Tools and Market Data Access\n06:35 The Future of Capital Markets and Relationships\n07:24 Podcasting and Deal Nuggets\n09:51 Development Challenges and Market Conditions\n11:50 Market Outlook for Los Angeles and Beyond\n16:01 Building Trust and Relationships in Capital Markets\n19:16 The Power of Introductions and Networking\n22:21 Market Cycles and Credit Spreads\n23:45 Market Bottoms and Future Opportunities\n25:53 Operational Challenges and Asset Management\n28:55 Lessons from the GFC and Market...","thumbnail_url":"https://img.transistorcdn.com/4CCvylFxdsaNNVGdB1dUOC4NLsR9R2eQL8p1_hY2q7Y/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS83NmRk/ZTI0ZGQ1OTRiOTFm/MzAwYzY5MGE1ZmIy/YTk2YS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}