
Ep 372. S&P 500 is Down 25% YTD, FAANG, Interest Rates, International Stocks, and Other Questions from Twitter
Focused Compounding
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Is There a Lot More Spending Online Than People Realize?
I think the degree of like incestuousness Is higher than people realize in terms of revenue that uh is generated online by tech companies Comes from spending of other tech companies online. I just you know the whole period in which tech is growing These companies are growing so big and everything was a period in which there was some expansion in the economy They grew faster than the economy, but there just wasn't contraction. It would be easy to over estimate how well Business spending on stuff advertising Cap X tech spending on things will hold up relative to the economy um Those things are pretty easy to cut and cut by a lot. And this stuff is much more cyclical than people think So I wouldn't be surprised
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