Hello and welcome back to Equity the Tech Runge podcast where we unpack the numbers and the nuance behind the headlines

this is Alex it is March 7th 2022 and boy do we have an absolutely packed show for you

as always we are going to start off with a look at the global markets,

but we're going to flip it today because there's more action in the stock market than the

crypto world. So first, tokens. Major cryptos are actually pretty boring in the last 24 hours, so there's just not that much to talk about.

NFT volume on OpenC is falling, but it's a little bit too early to call a trend there, and, you know,

Bitcoin and Ethereum are up like a point or down like a point so not much going on in the last 24 hours

So where is the action? Well, it is in the global stock markets looking around the world

Everything looks pretty bad Asian stocks are really taking a hammering the Nicki the Over in Europe, things are bad, just a little bit less bad. Major exchanges are off about half a point to a full point.

And here in the US, well, looking at the futures and the early trading,

things look kind of bleak, off about half a point

to a full point, depending on what exchange you're looking at.

What's going on? Well, in short concerns about inflation, the global economy, the Russian invasion

of Ukraine are all still weighing on investors' minds. And narrowing our lens down to just the stocks we care about the most,

Cloud stocks, this is the Twillios and Datadogs of the world,

what's going on?

Well, it's not looking good there either.

In fact, I just checked this morning.

Cloud stocks, as measured by the

Bessemer Cloud Index, have given back essentially all their gains since June or July of

2020. And they grew a lot in that time period, which means that revenue multiples are down to kind of where they were or worse.

That's not very good news for startups.

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