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The Not-Com Bubble is Popping (The Atlantic) Sees the recent tech company IPO failures are the exact opposite of the dot-com bubble. Now public investors do the hosing instead of getting hosed. That said, true tech companies, especially software ones, are showing little sign of crisis. Suggests shorting ‘fake’ tech companies and going long ‘true’ tech companies.
Airbnb’s WeWork Problem (Tech Crunch) Wall Street might have greater patience with Airbnb despite its massive Q1 2019 loss. Airbnb has more capital in the bank than it’s raised in the previous 11 years, some “cumulatively” positive free cash flows, and positive EBITDA for two consecutive years. Bullish AirBnB view.
How a Weapons Dollar Could Backfire (Project Syndicate) The dominance of the dollar is at risk. Many countries are looking to non-dollar currencies and alternative payment mechanisms to protect themselves from the Trump administration’s exploitation of the currency’s global supremacy. Bearish dollar argument.