The Capital Stack is a daily briefing for family offices, next-generation principals, and trusted advisors who allocate long-term private capital. This is not a news show. There are no interviews, no sponsor reads, and no explanations of basic terms. Each episode extracts a single pattern, behavior, or structural truth about how sophisticated family capital actually operates — why it optimizes for control over returns, why governance matters more than performance, and why quiet capital behaves differently than institutional money. If you sit in allocation meetings, advise principals on direct deals, or manage capital across generations, this podcast was built for you. 3–5 minutes. No filler. No hype.