Howard Lindzon on What’s Really Going on in the Tech Plunge
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 17 February 2022
⏱️ 57 minutes
🧾️ Download transcript
Summary
It's been a terrible few months for growth stocks. Small, unprofitable tech companies have crashed. SPACs have gotten crushed. Recent IPOs got crushed. And even the FANGs are way off their old highs. Of course, we don't have very much visibility into what's happening in private markets, so we only have anecdotes and inferences. But what's the big story? And is this the start of a big change? On this episode, we speak to Howard Lindzon, a GP at Social Leverage and the co-founder of Stocktwits, to get a sense of what's really going on. Howard launched a SPAC last year, does public market stock investing, as well as private VC investing, so he really knows the whole space very well. He discusses multiple reasons why tech turned rapidly, and why it might be awhile before it all bounces back.
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Transcript
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| 0:00.0 | Adlots is brought to you by Apollo. |
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| 0:30.0 | Hello, and welcome to another episode of the Adlots podcast. |
| 0:43.7 | I'm Joe Weissenthal. |
| 0:45.7 | And I'm Tracy Alloway. |
| 0:47.4 | So Tracy, there's obviously a lot going on these days in the world of macro and markets. |
| 0:54.5 | But one thing that we've seen distinctly, particularly since middle of November is |
| 0:59.3 | tech stocks have just been getting absolutely hammered. |
| 1:02.0 | Yeah. |
| 1:03.0 | So I was actually a way last week, I guess we should say we're recording this on February |
| 1:08.9 | 7th. |
| 1:09.9 | And apparently I missed a massive sell-off in tech, and then a little bit of a rebound. |
| 1:15.4 | Is that what happened? |
| 1:16.4 | Yeah, I think that's fair to say, I think people's last Monday, I'm sort of losing track |
| 1:21.1 | of the days. |
| 1:22.1 | We've had some really brutal sessions, and we had weakness in, I think it was like two |
| 1:27.8 | Mondays ago or something like that, tech stock just got killed anyway. |
| 1:30.6 | But we've had some brutal sessions, everything that's sort of like growthy, like people like |
| 1:35.4 | betting on the future, big time got hammered, also had some specific names, like Netflix |
| 1:40.4 | really got wrecked after earnings, Facebook, and a lot of trouble. |
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