This is a cleaned-up transcript of my podcast on Sunday.
Russell 2000 back where it had first been in November 2017.
Here’s how it works. Meanwhile, the media is busy publishing real-estate industry hype.
But it had big tax benefits & one-time gains. And Uber Eats is hot, so to speak.
IPO investors tried to unload while they could.
The financial world has gone nuts.
WeWork landlords in America are likely to learn: In a down market, they’re all going to be partners, voluntarily or otherwise.
But this time it’s not a result of a tech bust. That hasn’t happened yet.
Nasdaq down 24% already. Renaissance IPO ETF down 31%. But Uber and other unicorns plan record IPOs in 2019, à la dotcom-crash-debut in 2000.
“It’s time to wait patiently as the air is slowly let out of this bizarre Ponzi balloon created by the venture capital industry.”