The AI Boom Is EXACTLY Why Bitcoin Exists | Jordi Visser
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What is the main topic discussed in this episode?
Elon's telling you, fast and powerful.
What is the current state of the U.S. economy?
That's what AI is. And so the capital structure is not built for that. The capital structure of this economy is built for slow. I think people have to be prepared that we're at the beginning of what is going to be an incredibly volatile period that has no historical precedent.
Does the recent jobs report force the Fed to cut rates?
The truest AI trade is Bitcoin. And the reason is because eventually... What's going on, guys?
How do geopolitical tensions affect economic stability?
Today, we've got a great conversation with Jordy Visser. In this conversation, we talk about what's going on in the US economy, the jobs report, what the Fed is likely to do in the coming months, how the Iran conflict, Venezuela, Cuba, and much more should impact your portfolio. And then we talk about AI, software, hardware, and how exactly is all of the tectonic shifts going on in financial markets going to impact your portfolio. This conversation we cover a lot. Jordy and I have a lot of fun. We even throw in some book recommendations that you may enjoy picking up at your local bookstore. Here's my latest conversation with Jordy Visser. All right, Jordan, I thought a great place to start the conversation this week is the U.S.
economy right now is in a very weird place. It's very confusing to a lot of investors. You have a jobs report that just came out this week that shows the U.S.
What challenges are present in the private credit market?
has pretty much not gained any jobs, according to the official data, since April of last year. You also have the Iran conflict that's going on. And I think people thought that oil was going to explode higher, that the stock market was going to be very volatile. And those things haven't really happened in the way that people thought they were going to happen. You've got a Fed who's not cutting rates. And you also have, I think, investors who are trying to figure out what is the value of these software companies in the public market and how to think about the S&P 500.
Should investors avoid distressed private credit?
When we just kind of zoom out for a second, what is the current state of the US economy? And like, do you think that the economy is strong? Or do you think that the economy is like teetering on a lot of problems?
What happens to traditional portfolios in the next decade?
I'm going to tell you when we start this. Normally, you know, there's a few things to talk about. You just threw like a lot in there. There's a lot for people to think about and talk about. And there's some statements like oil hasn't gone up higher, but gas at the pump is up 55 cents in oil. less than two less than two months and it's up for the week i think 33 cents so all this is happening fast here's the thing about the economy it has been a an economy that has had two parts now for really since 2022 once we raised rates significantly um the housing market died and then we had silicon valley bank the commercial real estate market died because there was so much money thrown into long duration assets in 2021, particularly software, because of COVID and crypto, think about 2021, 2022, and just how much money flew in.
Then the Fed raised rates. Then we've seen long duration assets. It's not just commercial real estate. It's not just the housing market. It is private equity. We're going through the private credit. It's VC. So I think that part of the economy, if you ask anyone that's in those areas, I mean, you know, a lot of crypto entrepreneurs.
How will AI impact content creation and media?
It's been a bloodbath. Housing market, bloodbath. I mean, we're still sitting at all-time lows in terms of, or close to all-time lows in terms of house purchases. And things have been, on one side of the economy, bad. We've had auto lenders going out. The private credit world has seen a lot of defaults. It's seen a lot of fraud. When the tide of liquidity goes out, you get to see who's naked. And we've been going through that. So on that front, everything's been horrible. The problem with the economy and what's driving it now, it's all AI. 100% of everything going on is artificial intelligence. If it wasn't for artificial intelligence, I doubt the stock market would be at the level it is because we wouldn't be having the earnings.
The earnings have been driven at least until very recently, predominantly by Nvidia and the Mag7.
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:00–0:02
2
What is the current state of the U.S. economy?
0:02–0:17
3
Does the recent jobs report force the Fed to cut rates?
0:17–0:23
4
How do geopolitical tensions affect economic stability?
0:23–1:04
5
What challenges are present in the private credit market?
1:04–1:30
6
Should investors avoid distressed private credit?
1:30–1:44
7
What happens to traditional portfolios in the next decade?
1:44–3:01
8
How will AI impact content creation and media?
3:01–59:12
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