Inflation or Deflation? Jack Dorsey, Cathie Wood, Elon Musk, Jeff Booth Debate!

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 30 October 2021

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by NYDIG. Last weekend, Jack Dorsey set the internet alight when he proclaimed, “Hyperinflation is going to change everything. It’s happening.” That kicked off a mighty debate involving Cathie Wood, Elon Musk, Jeff Booth and others. At the heart of it is the question of whether inflation or deflation is the more powerful force in the months and years to come. NYDIG, the institutional-grade platform for bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW. Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Dark Crazed Cap” by Isaac Joel. Image credit: OsakaWayne Studios/Moment/Getty Images, modified by CoinDesk.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.1	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:16.2	The breakdown is sponsored by Nidig and produced and distributed by CoinDesk.
0:22.6	What's going on, guys? It is Saturday, October 30th, and that means it's time for the weekly recap.
0:29.1	And this week, instead of a weekly recap where we go over a little bit of every different event,
0:33.8	I want to actually go through an amazing Twitter debate slash discussion
0:38.6	slash conversation that actually happened last weekend. This debate was about the nature of
0:45.3	inflation versus deflation. This is one of the most significant macroeconomic questions of the
0:52.9	moment, perhaps the most significant macroeconomic
0:55.9	question. And obviously in the Bitcoin world, the inflation camp is well represented, but
1:02.0	sometimes the deflationary camp isn't. This conversation all kicked off last Friday when
1:09.0	Jack Dorsey, the founder of Twitter, the CEO of Twitter, the CEO
1:12.9	of Square, tweeted out, hyperinflation is going to change everything. It's happening. When someone
1:19.8	from Nigeria responded to him, he said it will happen in the U.S. soon, and so the world.
1:25.3	This is one of Jack's highest engagement tweets ever, ever, and one of the folks
1:31.3	who engaged with it was Kathy Wood. Now, Kathy Wood has been on the show a couple times. She's the founder,
1:37.2	CEO, and CIO of Ark Invest. She focuses on disruptive innovation, and so spends a lot of time
1:43.6	thinking about this.
1:45.0	Keep in mind as well as you listen to her that she also was one of the, if not the, earliest
1:49.6	Wall Streeters to get into Bitcoin and has long-term conviction around it.
1:54.1	But this was her perspective on this question of inflation.
1:57.9	She tweets, in 2008-2009, when the Fed started quantitative easing, I thought that
	...

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