The Economy is Fine?, VC Funding Declines, Non-Negotiable Expectations

Big Technology Podcast

Alex Kantrowitz

Management, Religion, Politics, Entrepreneurship, Business News, News, Investing, Marketing, News Commentary, Social Sciences, Science, Society & Culture, Religion & Spirituality, Business, Tech News, Philosophy, Government, Technology

4.7 • 596 Ratings

🗓️ 14 April 2023

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Square co-founder and Invisibly founder Jim McKelvey joins Ranjan Roy and Alex Kantrowitz for our weekly news recap show. We cover: 1) The state of the economy and markets 2) Fears of a credit crunch, or is it a credit tightening? 3) The state of the commercial real estate market 4) How commercial real estate's struggles impact small and regional banks 5) The decline in VC funding in Q1 6) What is 'dry powder' anyway? 7) Reflecting on Uber again 8) What is AutoGPT? 9) Regulating AI 10) Sell your data for money? 11) The Square reader's founding story 12) "Non-negotiable" expectations. ---- Enjoying Big Technology Podcast? Please rate us five stars ⭐⭐⭐⭐⭐ in your podcast app of choice. For weekly updates on the show, sign up for the pod newsletter on LinkedIn: https://www.linkedin.com/newsletters/6901970121829801984/ Questions? Feedback? Write to: bigtechnologypodcast@gmail.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hey, I'm Michael Kovnet, host of The Next Big Idea Daily.
0:04.0	The show is a masterclass in better living from some of the smartest writers around.
0:08.7	Every morning, Monday through Friday, we'll serve up a quick 10-minute lesson on how to strengthen your relationships,
0:14.9	supercharge your creativity, boost your productivity, and more.
0:18.9	Follow the Next Big Idea Daily wherever you get your podcasts.
0:30.4	Welcome to Big Technology Podcast Friday edition where we break down the news in our traditional
0:35.5	cool-headed and nuanced manner. I am joined this
0:39.0	week as always by Ron John Roy. Ron John, welcome. Hello. And we also have a very special guest,
0:45.4	Jim McKelvey, friend of the show, co-founder of Square and founder of Invisibly is here. Jim, welcome.
0:52.1	Thank you. It's going to be fun. Yes, it will. So you are also an independent
0:58.1	director on the Federal Reserve of St. Louis. I'm currently the chair of the St. Louis Board of the
1:04.5	Federal Reserve. Okay. So that gives you a great amount of perspective on what's going on in the economy, which is
1:12.4	awesome because I have no idea what to make of this and I don't think a lot of people do.
1:17.4	So here are just a couple of factors that we're dealing with. We have inflation that's high,
1:21.8	close to 5% core, which is double what the Fed wants. Yep. Yet the SMP is rising.
1:28.1	It's up about 7% this year.
1:30.1	We have banks failing.
1:31.2	Anybody who listens to this show knows that well.
1:33.5	And the Fed is continuing to hike rates.
1:35.9	And then of course, we have slowing growth,
1:37.6	but we're still growing as an economy.
1:39.3	And I put this all together and I say, huh?
	...

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