Today’s Animal Spirits is brought to you by YCharts. Mention Animal Spirits to receive 20% off (*New YCharts users only)
On today’s show we discuss
- You can now trade commission free on Schwab
- Ben called this. Sort of.
- The best stocks are now the worst stocks
- David Shaw is really rich
- Endowments struggle
- Fred Wilson on private markets
- It’s easier banking for rich people
- Healthcare inflation
- Basketball > baseball
- Instagram influencers
THAT is the PROBLEM.
that they have 5x-500x the REVENUE but still cannot find a way to make a profit or not burn thru cash (thus far provided near freely with belief in “growth”) is WHY it is worse.
Selling $1s for 50¢ instead of 5¢ just means CONSUMERS get subsidized longer https://t.co/fUB2S3iMlt
— Josh Wolfe (@wolfejosh) September 21, 2019
— Charlie Bilello (@charliebilello) October 1, 2019
1/ From 1997 to 2012, less cash was returned to investors than invested in VC. Given where we are in the cycle, revisit this venture study for a sobering read of what a bear market for the industry may look like. Not unlike hedge funds today I suppose. https://t.co/DRAP1vlugG
— Jawad Mian (@jsmian) September 28, 2019