It is said that most live through big changes in history without realizing it.
Sequoia Capital (the firm which backed Apple, Google, and Air-bomb) apologized to its investors for its $150M write-off of FTX.
Wall Street Journal Wednesday
233 years after the founding of America’s Constitution, we are living in a fast-changing world, does anyone realize it? Let’s take a look.
School shut-downs due to COVID alerted parents to what their kids were and were not learning in school. This has been a boost for home-schooling and learning pods. A learning pod is a volunteer group of parents arranging private instruction for their children. Public schools and recently ousted boards, take note.
Work from home may forever change the idea of the office. Already, former offices are being converted to personal condos.
Cell phones, inexpensive laptops, and the internet also have made work from home possible, but what have we lost in personal interaction?
As formal higher education (college) gets ever more expensive, Google Certificates and on the job Amazon style training are radically changing this market. Is anyone in higher ed noticing?
The COVID shut-in led to ‘streaming services for entertainment.’ Sit-in theaters were squashed but Netflix and Disney, both down over 50%, have failed to maximize their content for shareholders.
Technology creates billionaires on the way up, but chews portfolios to bits on the way down (Sequoia above). Railroads were the tech craze of the 1800s. But the proliferation of lines meant few as many went broke as made money. Radio Corporation of America peaked in 1929 but did not recover until the early 1950s. The FANG stocks have all tumbled. Now those firms are laying off thousands of employees. Can even whiz CEO Musk fix Twitter?
Same sex marriage and questioning just who one is are now mainstream, did anyone expect that?
As mentioned last week, we are in the third early warning phase of trouble on Wall Street. Those would be the dot.com crash, the sub-prime mortgage crash, and what will this third one be called once it is over?
The Dow Industrials seem to be seeking 34,400. That should end the current rally.
I thought crude oil might go to its 200 week moving average around 65. Its sharp spike may have ended at $75 this week. The reality of the EU squeezed for energy by Russia and the Biden’s war on oil and gas is noticed. This should mark this as the low in price as winter sets in, see Buffalo, NY as an example.
