Chamath Palihapitiya Bitcoin | "We Have The Perfect Setup! Just Keep An Eye On This"

Chamath Palihapitiya Bitcoin | “We Have The Perfect Setup! Just Keep An Eye On This”

Most of the crypto market at large, saw its all-time highs back in late 2021 when Bitcoin hit $69,044.77 and Ethereum hit $4,878.26 on November 10, 2021. Both have since slid over 70%. While crypto is said to be following the stock market, it seems as if the crypto market was just the first shoe to drop on what many pundits, analysts, and economists have been calling for… a big collapse. The big tech giants, which seem like the most untouchable of companies and assets in the economy, are being affected (at least in theory) by the collapse coming. Facebook announced a hiring freeze, and warned staff of possible layoffs and restructuring. Google is also participating in layoffs, calling for a ‘quiet firing’, which is essentially telling staff to pick new roles after reorganizing or disbanding teams, and running out the clock on the reapplication process until some are left with no job. According to Investor Chamath Palihapitiya, this is just the tip of the iceberg of what’s coming for the market. Chamath believes that Facebook and Google are not tightening the belt because of a cash shortage, as both are known to have very healthy cash reserves, but instead, its an end of an era.. And the markets are stabilizing to its true form.

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E98: Big tech starts making cuts, Fed incompetency, global debt, Russia/Ukraine & more

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