Daily Charts - Tech
If you bought Facebook stock in 2015, you’ve lost money. Seven years of gains, erased in 10 months. Meta’s meltdown is shocking. Google is down 40% this year, Amazon 45%, and Snap 80%. These losses are unprecedented in the Big Tech era. How much of the ad revenue decline can be blamed on Apple’s privacy changes?
Meta wants to control its own destiny by building the next platform and they are spending big to do so.
What will be discovered when private venture companies are forced to take their marks? This is the liquid IPO index vs the private VC Unicorn Index. A lot of paper wealth will be wiped out.
Out of date but I was surprised about the sector performance.
Interesting article from Episilon Theory, about stock based compensation counteracting any buy backs in the big technology names, Apples is the exception.
Meta has bought back $95.8 billion worth of its stock over the past ten years. The share count data is in millions of shares, so, for example, Google has issued 1.7 billion new shares to employees over the past ten years, diluting its starting share count by 12.8%. Google has also bought back 1.9 billion shares with its $156 billion worth of buybacks, but because of the newly issued shares that only shrank the original share count by 1.2%.
Speculative tech shares surged last week on the CPI data.
More smart money saying we are not out of the woods. This time from Tribe Capital a silicon valley VC. Click in for the full link.
Will be interesting to see if it’s possible to enter a recession with all the excess cash floating around the system. Truly unprecedented.
We are starting to see signals that the conditions for small businesses are deteriorating.
The tightening cycle damage may already be done to the economy. A pivot might not save us.
Investors see the stock market as a casino using more leveraged ETFs than ever before.
Bezos is worried about the economy. Amazon announced 10,000 layoffs yesterday.
Chinese covid restrictions don’t seem like they are going great
