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Animal Spirits Podcast

Americans Love Borrowing Money (EP.326)

Sep 20, 2023
The podcast discusses topics such as changes in markets over the past 70 years, higher stock allocations, small caps vs. large caps, trading options, overspending, the state of the economy, starter homes, rising mortgage payments, consistency of tax revenues, luxury real estate, supermarket choices, and encounters with identical twins at Trader Joe's.
01:10:14

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Quick takeaways

  • Private equity firms are relying on net asset value loans to support distressed companies during a slowdown in deal making and higher interest rates.
  • The Law of Tax Equilibration suggests that tax rates do not significantly impact tax revenue, contradicting conventional wisdom.

Deep dives

Instacart's IPO and its life cycle

Instacart's IPO is today. The company, founded in 2012, has gone through various stages of funding, including seed, series A to D, and series I. The IPO comes at a time when the private market valuations have fallen below the series F valuation.

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