Big Technology Podcast Anatomy Of A Market Meltdown — With Joe Weisenthal
Jun 22, 2022
Joe Weisenthal, co-host of Odd Lots and a Bloomberg editor, dives into the factors behind the recent stock market meltdown. He breaks down the unique circumstances like high inflation and tech sector struggles, questioning traditional recovery methods. The discussion moves to the Federal Reserve's interest rate effects and the volatility of angel investing platforms. Weisenthal also assesses the aftermath of the SPAC boom and reflects on the cryptocurrency market's decline, exploring what future innovations could emerge.
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A Unique Downturn
- This market downturn is unique due to low unemployment combined with high inflation.
- Tech companies are experiencing concentrated pain due to previous overfunding.
A Difficult Recovery
- The current economic downturn is harder to resolve than previous ones.
- Traditional solutions like lowering interest rates or fiscal stimulus are insufficient to address supply-side issues.
The Energy Challenge
- High energy prices are a major challenge, exacerbated by a shift in the energy industry.
- Energy companies are now prioritizing profits over production, unlike the period of loss-making production from 2014-2020.