Strangling the American Dream… One FOMC Meeting at a Time

There's a little-discussed reason why "Big Tech" exists: The Fed's policies of the last 30 years. Today, we're facing a venture capital extinction... while Big Tech faces fewer competitive pressures.

An independent and profitable state of mind.

Thursday, June 15, 2023

Dear Old Friend,

As expected, the Federal Reserve paused rate hikes on Wednesday. Fed Chair Jerome Powell also increased terminal rate expectations from 5.1% to 5.6%.

This signals two more rate hikes in 2023. The Fed is putting on its best “Hazmat suit and tie” and trying to drown inflation in an acid vat. But there’s still lots of work to do.

That's the headline today, but I want to move on.

I want to discuss what the Fed’s policies have destroyed.

Because there are surprising opportunities in the aggregate mess that is Fed policy.

Yes, anti-competitive, destructive policies ordain losers and winners. I've said many times that I can't stand it. But it's my job to bring these opportunities to you.

Starting in Silicon Valley, where American startup dreams have gone to die.

Here's what I mean…

Strangling the American Dream…

As Syz Group notes, just seven stocks have pulled this market higher in 2023. And Microsoft (MSFT) now hold…