It feels good to be back on the streets of New York.
Chris and Rob from Rally Rd picked a great spot in SOHO – Gran Tivoli – for a brainstorm and dinner…I won’t shoutout the names to protect the innocent:
As always we got to chatting about startups and the markets. With a group like this it is hard to find negativity so we all tried to figure out what and when things will go wrong. They will and do.
I can’t explain this long boom and have given up worrying about it. I’m trying to enjoy the ride.
On my Uber ride to the airport in Phoenix yesterday I asked my driver how Uber was working for him. He told me it was not great but definitely not bad. He works 7 days a week averaging about 350 miles a day to earn $70,000 a year. After a failed business he was grateful to be working for himself with little risk.
It’s easy to hate on Uber and the ‘gig’ economy. It’s definitely not perfect.
But, it’s what we have right now.
We live in a very distributed economy that just might be the explanation for this extended boom. It’s not great (unless you are wealthy), but it is not horrible for those that want to work for themselves.
The liquidity is endless and the wall of worry is loud, high and thick…a powerful fuel.
PS – In my 2020 predictions I picked Shopify as my stock of the year. I sold a few shares before earnings yesterday and of course that helped the stock jump another 8 percent today. It is now up nearly 40 percent since I posted. It should never be this easy and these types of profits are not at all related to how smart anyone is. Take some exits while you can.