The 2021 startup valuation bubble deflated but did not fully reset. Understanding why tells you something important about how private markets actually work. Public market tech valuations corrected sharply in 2022 and have only partially recovered. Private market valuations lagged significantly. Many companies that raised at peak multiples in 2021 have not marked down those … [Read more...] about Why Startup Valuations Haven’t Fully Reset
finance
What the Fed’s Patience Is Actually Signaling
When the Federal Reserve says it is "patient," it is communicating something specific. It is not a stance of comfort. It is a stance of uncertainty dressed in composed language. The Fed's patience framing emerged as a way to navigate the space between two bad outcomes: cutting rates too early and re-igniting inflation, or holding too long and tipping an already slowing economy … [Read more...] about What the Fed’s Patience Is Actually Signaling
Dollar Dominance: Slow Erosion or Cliff Edge?
The dollar's reserve currency status has been in decline for thirty years if you read one set of economists, and completely secure for the foreseeable future if you read another. Both camps have access to the same data. The disagreement is about what the data means. What the numbers actually show: the dollar's share of global foreign exchange reserves has declined from around … [Read more...] about Dollar Dominance: Slow Erosion or Cliff Edge?