The Illiquid Market Overhang and VC Exposure

Jordi Visser is a macro investor with over 30 years of Wall Street experience. He also writes a Substack called “VisserLabs” and puts out investing YouTube videos. In this conversation, we discuss Bitcoin’s “IPO moment” — why investors are feeling disappointed, what’s really happening beneath the surface, and how these dynamics could reshape portfolios in the months ahead.  Jordi also shares his perspective on Tesla, artificial intelligence, and the shifting political landscape — explaining how the New York City mayor race and overall market sentiment could influence the next phase of global investing.

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Timestamps:

• 0:00 – Intro
• 2:05 – Bitcoin’s “IPO moment” and illiquid markets
• 6:51 – How stablecoins and AI will impact bitcoin
• 12:34 – AI stocks and the next phase
• 18:22 – Jobs report, unemployment, and inequality
• 20:40 – NYC mayor race & rise of socialism
• 27:35 – Will Tesla buy Uber?
• 31:18 – Inflation, wages, and the restaurant reset
• 40:45 – Elon’s trillion-dollar Tesla bet
• 44:06 – “Make Your AI Bed” — adapting to the new era