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BREAKDOWN: What the Economy Will Look Like 6 Months From Now, Feat. Ryan Selkis

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CoinDesk

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4.8689 Ratings

🗓️ 15 April 2020

⏱️ 49 minutes

🧾️ Download transcript

Summary

As week (one million, it seems) of the COVID-19 lockdown plods on, many are wondering what the economy will look like on the other side.

Ryan Selkis is the CEO and founder of Messari. He was one of the earliest voices in crypto to sound the alarm on the potential impact of COVID-19 not only on the health system but on the economy. 

In this episode of The Breakdown, Ryan joins @NLW to discuss:

  • Why the markets right now represent an economic and psychological relief rally
  • What it takes to reopen the economy 
  • Why voluntary, privacy preserving contact tracing is part of the solution

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

Welcome back to the breakdown.

0:07.0

An everyday analysis breaking down the most important stories in Bitcoin,

0:11.0

crypto, and beyond with your host, NLW.

0:15.0

The Breakdown is distributed by CoinDesk.

0:20.0

Welcome back to the breakdown.

0:23.0

It is Wednesday, April 15th, and today I am joined by Ryan Selkis from Masari.

0:29.7

First, a little context for this conversation.

0:33.4

Last week, I spent a lot of the week and had a lot of my guests basically trying to argue that

0:39.4

there is no normal to go back to after this coronavirus crisis ends.

0:45.8

I think that's because, in part, the health issue is not just going to abate, even if we get it

0:51.7

under control. Getting it under control is going to involve

0:54.5

some serious changes to our habits in terms of masks, in terms of social distancing norms,

1:01.0

in terms of temperature checks in key buildings, in terms of contact tracing, all of these things

1:07.5

which make our day-to-day lives look fundamentally different. But also,

1:11.3

economically, there are so many things that are unlikely to just spring back to normal. On the most

1:17.7

base level, some businesses that have been out of work and out of business will go permanently

1:22.8

out of business because they just couldn't deal with this challenge, even with government

1:27.2

stimulus.

1:28.1

You also have more structural issues like changes to the way people work that won't easily

1:33.8

shift. So there are all these second and third order effects that basically means that there is

1:38.6

no normal to go back to. Now, over the last week, I've sensed this kind of resignation and fatigue even a little bit

1:46.8

with thinking about coronavirus as people accept that there is just this new normal, and they're

...

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