This Week in Startups Emergency Pod! Huge Bitcoin correction, Robinhood IPO rumors, Squarespace direct listing | E1219
May 20, 2021
A dramatic Bitcoin correction echoes through the markets as China tightens its grip on cryptocurrency, raising questions about its future. The risks of potential zero value are weighed against the possibility of newfound resilience. Rumors swirl around Robinhood's upcoming IPO, with speculation on its market impact. Meanwhile, Squarespace's direct listing showcases its subscription success, signaling a shift in how digital platforms navigate public markets. Tune in for insights on startup resilience and investment trends!
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Bitcoin Crash
- Bitcoin's value has dropped significantly, influenced by China's renewed crackdown and a market correction.
- Jason Calacanis believes this drop was predictable due to reopening, stimulus checks ending, and Bitcoin's tendency to correct.
China's Impact on Bitcoin
- China's crackdown on crypto, while impactful, could benefit Bitcoin in the long run.
- Removing China's influence might increase Bitcoin's stability and address national security concerns.
Investment Diversification
- Diversify investments and don't rely solely on Bitcoin.
- Consider established companies like Amazon, Uber, or Tesla for long-term stability.