Everyone Wants To Be Softbank...Even the Government.

Good morning…

I want to welcome all the new readers.

I am pretty exhausted from this weekends Social Leverage event and hope to catch up on some sleep and rest this weekend.

I have a big month of travel in April heading to New York, Miami, Italy, Amsterdam, Israel and probably some other middle east countries.

A few weeks of it will be cycling with friends which I now do two or three times a year.

My one big takeaway from the weekend with founders, LP’s, emerging managers and the CEO’s of a few banks and large homebuilders is that a slowdown is here.

Does that mean stocks will go down?

I don’t know because stock prices are forward looking.

I do know that venture capitalists are slowing down check writing, foubders are finding it harder to raise money, the SVB crisis will mean founders will be slower to hire and spend the money they do have etc etc…

Lending and credit has already slowed and I don’t see how that changes anytime soon.

On the other side of the fences, the government has gained momentum in their quest to slow down growth. Big tech, Cannabis and Crypto and soon AI are the devil to our leaders.

Last night I read that the SEC is seeking $2.4 billion in funding to go after thew ‘wild west’ of crypto and to keep up with innovation.

I have no joke here though they do write themselves. The SEC is the new Softbank.

No amount of money will keep the SEC up with financial crimes.

Twitter, Reddit, Telegram, Whatsapp, Signal etc…the world is connected and I would prefer in 2023 that US banks could just bank crypto and cannabis which would be a huge incentive to good actors.

Leaders are not talking/focused on financial education and adults taking responsibility for being stupid and greedy.

You can count on that not changing.