![]() ![]() ![]() Can you do a brief history of the 21st century in tech for us? How did we get from the dot com bubble to the pandemic bubble? ![]() I’ve seen many stocks go to zero and people forget that.ĭT: So, Jason, you were there for the dot com bubble in 2000, and you’re obviously here now for whatever this is gonna be called-the COVID bubble, dot com 2.0, web3 bubble, the name will come. What happened when the pandemic happened? Everybody looked at tech stocks and said, “My God, it’s so easy to make money with tech stocks. You go onto both app stores, it’s 3 billion people.Īnd so what we’re seeing right now is, we had a very vibrant market and then the pandemic happened. You go onto the App Store, you can reach billions of people. The number of customers you could reach was typically millions to tens of millions. People were still afraid to put their credit cards online and the business models were not established. But that was very different as well, because at that time they had tens of millions of internet users. Then you had the dot com bust, which I guess is most analogous since it’s the same cohort of companies, the same style of companies. We had the 2008 Great Recession that was based on one thing, real estate, and a bunch of people getting mortgages who probably shouldn’t have gotten mortgages and defaulting. There’s a lot going on concurrently, so this is unlike anything I’ve seen. What is happening at the moment? Do you think we’re witnessing the popping of tech bubble 2.0? Growth stocks are down 70 percent, if they’re lucky. Tech stocks have been destroyed this year. If you have questions, observations, or ideas for future episodes, email us at Thompson: So the market is absolutely disgusting right now. Part of their conversation is excerpted below. He gives us a brief history of the 21st century tech industry, explains why this is like and unlike the summer of 2000, makes some bold predictions about crypto and the economy, and tells us how he’s advising young chief executives. Investor, entrepreneur, and podcaster Jason Calacanis joins the show. Why is this happening? Is this Dot-Com Bubble 2.0? And what does it mean for the future of the U.S. Crypto has cratered, growth stocks have been ravaged, and hedge funds are imploding. Everything is down, except (as loyal listeners know) the CATAN portfolio. The stock market is absolutely gross right now. ![]()
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