BREAKDOWN: How Excess Capital and Low Interest Rates Reshaped Silicon Valley, Feat. Chris McCann
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 18 August 2020
⏱️ 60 minutes
🧾️ Download transcript
Summary
A conversation with a VC about changes in fintech, crypto and how public market trends shape the startup scene.
This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
Today on the Brief:
- Everyone turns bullish as S&P 500 nears all-time highs
- Emerging market currencies are floundering
- Bitcoin holding sentiment highest in two years
Our main conversation features Race Capital’s Chris McCann.
Chris was previously the founder of Startup Digest, building it to 1 million subscriptions long before email newsletters were a thing. He spent four years building the community program at Greylock before launching his own venture firm.
In this conversation, Chris and NLW discuss:
- The relationship between monetary policy and startup finance
- What changes in startup financing have followed COVID-19
- What the emerging fintech stack looks like, outside of crypto
Find our guest online:
Website: Race Capital
Twitter: @mccannatron
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
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| 0:00.0 | sort of the interest gap, if you will, show up across all financial assets. |
| 0:04.8 | You saw that very dramatically in the public markets post-COVID and post a lot of the government |
| 0:09.6 | action. You're seeing it now in Bitcoin. You see it show up in residential real estate side, |
| 0:15.3 | which really should have a lot of negative downward pressure, but you're seeing actually like a rise |
| 0:19.7 | in a lot of key markets. Like, of course this is going to show up in the early stage private market side. |
| 0:25.5 | I think it just, it's a little messier. It lags a little bit more. It takes a little bit more time. |
| 0:31.7 | And at the end of the day, for many of these companies, you know, if they do take 10 year horizons, |
| 0:37.1 | the time cycle will take a lot |
| 0:38.8 | longer to play out. But yeah, of course, it's going to show up on the early stage private market |
| 0:43.2 | side. Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, |
| 0:51.6 | and the big picture powerifts remaking our world. |
| 1:01.1 | The breakdown is sponsored by Crypto.com, Bitstamp, and nexo.io, and produced and distributed by CoinDesk. |
| 1:04.6 | What's going on, guys? |
| 1:05.8 | It is Tuesday, August 18th, and today my guest is Chris McCann, an investor with race capital, a guy who has been in alternative media and startups for a long, long time. |
| 1:18.5 | And we're talking about how public markets and private startups interact with one another. |
| 1:24.2 | So it's a really interesting conversation about an important and frankly increasingly important part of the market. But first, let's do the brief. First up on the brief |
| 1:33.4 | today, the unignorable stock market rally. So what happened? The S&P is pushing towards new |
| 1:40.5 | all-time highs. In fact, it has over over the last few days, a few times briefly exceeded its |
| 1:46.4 | February closing record. This will be when all is said and done, the fastest bear market ever, |
| 1:51.9 | followed by the quickest rebound ever. The thing that's notable is what the sentiment shift is like. |
| 1:58.1 | This morning, there was a Bloomberg piece called Stock Market at record |
| 2:02.8 | forcing everyone to become believer. A Bank of America study that came out today also showed |
... |
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