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E73: Late-stage VC markdowns and mistakes, market strategy, Ukraine/Russia update with Brad Gerstner
All-In with Chamath, Jason, Sacks & Friedberg
The Salvation in a Moment Like This
The problem is all o these financial services companies are essentially an arbitrage on rates, right? When rates are zero, they take that money at zero % and then they can go and execute a business model. But when their cost of capital is two or two and a half or three %, the whole business imploses on them. So you're going to see bunch of these financial service companies get under pressure. And in all this, what is the salvation in a moment like this? It's being healthy gross margins, healthy contribution margins and an realistic path to profitability,. which means being ebit deposited this year or within the next two years. Set another way, if you're profitable,
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