Bill Gurley

In fact, I think a lot of congressional Republicans don't like this. You've made an eloquent defense of, you know, the benefits of free and largely fair trade. When you start hearing things like this, like, okay, this category got exemption, you know, or this category got exempted, like, just give me your reaction.

In fact, I think a lot of congressional Republicans don't like this. You've made an eloquent defense of, you know, the benefits of free and largely fair trade. When you start hearing things like this, like, okay, this category got exemption, you know, or this category got exempted, like, just give me your reaction.

In fact, I think a lot of congressional Republicans don't like this. You've made an eloquent defense of, you know, the benefits of free and largely fair trade. When you start hearing things like this, like, okay, this category got exemption, you know, or this category got exempted, like, just give me your reaction.

As somebody who I think totally understands the benefits of free trade, when you see the Republican Party doing this, how does it make you feel?

As somebody who I think totally understands the benefits of free trade, when you see the Republican Party doing this, how does it make you feel?

As somebody who I think totally understands the benefits of free trade, when you see the Republican Party doing this, how does it make you feel?

I think it's so well stated. You and I have said markets and business abhors uncertainty. It can deal with almost anything, but it has to have predictability so it can build a forecast, so it can look at an investment and say, is that NPV positive? And I was literally texting with some big CEOs during the president's announcement, and they are asking questions. Do you see us exempted?

I think it's so well stated. You and I have said markets and business abhors uncertainty. It can deal with almost anything, but it has to have predictability so it can build a forecast, so it can look at an investment and say, is that NPV positive? And I was literally texting with some big CEOs during the president's announcement, and they are asking questions. Do you see us exempted?

I think it's so well stated. You and I have said markets and business abhors uncertainty. It can deal with almost anything, but it has to have predictability so it can build a forecast, so it can look at an investment and say, is that NPV positive? And I was literally texting with some big CEOs during the president's announcement, and they are asking questions. Do you see us exempted?

Are we in there? And this is just amazing to me, right, that you have this level of uncertainty. You know, I was with those 100 CEOs in Montana last week, and I would say almost 201, they said things are slowing down in February and March because nobody knows what to do. And remember, you know, the Fed had just come out.

Are we in there? And this is just amazing to me, right, that you have this level of uncertainty. You know, I was with those 100 CEOs in Montana last week, and I would say almost 201, they said things are slowing down in February and March because nobody knows what to do. And remember, you know, the Fed had just come out.

Are we in there? And this is just amazing to me, right, that you have this level of uncertainty. You know, I was with those 100 CEOs in Montana last week, and I would say almost 201, they said things are slowing down in February and March because nobody knows what to do. And remember, you know, the Fed had just come out.

last week had taken down their forecast for GDP growth, had taken up their forecast for inflation, had taken up their forecast for unemployment by the end of the year. So the economy, you know, most major economists are increasing their probability of recession. are slowing the rate of growth. And the question today was, was Liberation Day a clearing event? Does everybody have clarity now?

last week had taken down their forecast for GDP growth, had taken up their forecast for inflation, had taken up their forecast for unemployment by the end of the year. So the economy, you know, most major economists are increasing their probability of recession. are slowing the rate of growth. And the question today was, was Liberation Day a clearing event? Does everybody have clarity now?

last week had taken down their forecast for GDP growth, had taken up their forecast for inflation, had taken up their forecast for unemployment by the end of the year. So the economy, you know, most major economists are increasing their probability of recession. are slowing the rate of growth. And the question today was, was Liberation Day a clearing event? Does everybody have clarity now?

And I think your point you make is a great one. Even though they may have gotten an exemption or they may not have an exemption, the question is, can I count on this? And how long can I count on this? And can I really plan a year out based upon this? Or is this going to change yet again over the course of the year? And so...

And I think your point you make is a great one. Even though they may have gotten an exemption or they may not have an exemption, the question is, can I count on this? And how long can I count on this? And can I really plan a year out based upon this? Or is this going to change yet again over the course of the year? And so...

And I think your point you make is a great one. Even though they may have gotten an exemption or they may not have an exemption, the question is, can I count on this? And how long can I count on this? And can I really plan a year out based upon this? Or is this going to change yet again over the course of the year? And so...

Let me tell you two other cascading effects. I heard from one of the CEOs last week that four contracts with him had actually been canceled, right? Because they had like three European contracts canceled and one Asian contract canceled because the countries were so upset with America that they're going to do deals instead with European companies or whatever the case may be.

Let me tell you two other cascading effects. I heard from one of the CEOs last week that four contracts with him had actually been canceled, right? Because they had like three European contracts canceled and one Asian contract canceled because the countries were so upset with America that they're going to do deals instead with European companies or whatever the case may be.