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  • Get ready for a prolonged downturn that’s worse than 2000 or 2008, billionaire VC Doug Leone says

    From cnbc.com

    American venture capitalist Doug Leone doesn’t think the tech wreck is going away anytime soon. The Sequoia Capital partner gave a gloomy outlook for the global economy, warning that today’s downturn was worse than recessions in 2000 and 2008. “The situation today I think is more difficult and more challenging than either ’08, which was really a protected financial services crisis, or 2000, which was a protected technology crisis,” Leone said, speaking onstage at the Slush startup conference in Helsinki. “Here, we have a global crisis. We have interest rates around the world increasing, consumers globally ... (full story)

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How does he know? Billionaire yes, venture capitalist yes another human being alive at this time yes, but God NO, Crystal baller NO and Nobel Laurette in Economic analysis NO. My point is why splash his personal take on things as if he in fact has the final say or anything near (even close), to the final say. We weight too much the opinions of the monied (due of course to our inferiority complex that are not as rich). In matters financial/economic we splash their unresearched thoughts instead of searching out the opinions of the learned. All that glitters is not Gold and this servile to money culture is just the nonsense we feel about ourselves who glorify the wealthy just because we think being rich is a great thing. It is not and strictly a function of chance - anyone can become rich including absolute idiots.

The Crow (-_-)
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  • Posted: Nov 23, 2022 12:14pm
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 1  /  Views: 337