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CoinDesk Podcast Network - BREAKDOWN: Innovation vs. ‘The Big Short’ – Cathie Wood and Michael Burry’s Battle Frames the Potential Futures of Markets
The investors’ opposing beliefs will soon be proven right or wrong as markets respond to inflation.
This episode is sponsored by NYDIG.
Investors Cathie Wood and Michael Burry are predicting opposing outcomes for the recent high inflation rate. On this episode of “The Breakdown,” NLW explores:
- Michael Burry’s background and principles
- Cathie Wood’s ARK Investment and its strategies
- Burry’s bet against ARK
Michael Burry, the main subject of “The Big Short,” has built his career betting on bubbles. Notably, he shorted Tesla in 2020 and took a negative stance against Elon Musk’s bitcoin boasts. He predicted an upcoming “mother of all crashes” for crypto, which has yet to occur.
On the other end of the spectrum is Cathie Wood, long-time Tesla supporter and champion of bitcoin on Wall Street. Her fund, ARK Investment, focused on disruptive tech innovation and 2020 saw her flagship exchange-traded fund rise to become the world’s largest.
Their opposing strategies have reached a critical point as news broke that Burry has shorted ARK, prompting Wood to launch into a Twitter thread to defend her fund’s beliefs. Only time and markets will be the judge of which investor’s fundamentals win in the end.
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NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.
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“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Astrid Stawiarz/Stringer/Getty Images Entertainment and Alex Flynn/Bloomberg/Getty Images, modified by CoinDesk.
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Focus on Africa - Uganda to host 2,000 Afghan refugees on US request
Uganda will take in 2,000 Afghan refugees fleeing the crisis in their country.Refugees Minister Esther Anyakun told the BBC that President Yoweri Museveni agreed to take in the refugees at the request of the Americans.
Kenya's Public Prosecutor orders the arrest of six Police officers linked to the death of two brothers.
A Zimbabwean-led initiative aiming to put more girls in school has attracted financing from philanthropic organisations.
African Tech Roundup - UNAJUA Throwback S1 EP2: Can gaming startups compete with Facebook & Tencent? ft. Lucy Hoffman
The Goods from the Woods - Episode #293 – “The Circus” with Callie Biggerstaff & Joe Kaye
WE'RE BACK, FOLKS! In this episode, Rivers Langley and Carter Glascock are joined by TWO incredible special guests: friend of the show, comedian Joe Kaye AND the co-host of the ABSOLUTELY DELIGHTFUL podcast "Circus Stories", Callie Biggerstaff! As you might have gleaned from the title, this episode is all about the wonderful and, sometimes terrifying, world of THE CIRCUS! Callie and Joe both have incredibly long and interesting histories with this centuries-old institution and their stories are AMAZING! We go into clowns, Cirque du Soliel, and so much more. PLUS the monstrous, crime-ridden stories of both P.T. Barnum and Grady Stiles Jr. AKA "The Lobster Boy". We're so thrilled to be back and we can't wait for y'all to hear this one! Follow our show on Twitter @TheGoodsPod. Rivers is @RiversLangley Carter is @Carter_Glascock Sam is @SlamHarter Subscribe on Patreon for HOURS of bonus content and being added to all the time! http://patreon.com/TheGoodsPod Pick up a Goods from the Woods t-shirt at: http://prowrestlingtees.com/TheGoodsPod
Audio Poem of the Day - Canada Anemone
By Fleda Brown
Stuff They Don't Want You To Know - CLASSIC: Diamonds: The Conspiracy
Diamonds: according to the ads, they're a girl's best friend, and the only thing worth picking for an engagement ring. But how did diamonds become so important -- and why?
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CBS News Roundup - World News Roundup: 08/17
The Biden administration is expected to recommend that most people get booster shots eight months after receiving their second dose of a COVID-19 vaccine. President Biden defends the US withdrawal from Afghanistan, and blames Afghan leaders for the swift Taliban takeover. Some veterans and their families are expressing regret toward how the war in Afghanistan is ending. Correspondent Steve Kathan has the CBS World News Roundup for Tuesday, August 17, 2021:
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Time To Say Goodbye - Neoliberalism’s end + “China”: Jake Werner
Hello from a Chinese ghost city!
It’s just Andy this week, speaking with my friend academic-activist Jake Werner (@jwdwerner) on how to make sense of the current ideological shift in US and global politics and especially the hostile rhetoric between US and Chinese elites.
(0:00) We talk about the recent spate of “big spending” bills pushed by Biden and the Democrats, supporting infrastructure (“hard” and “soft”) and industrial policy. Is this a break from “neoliberal” ideology? And also, what was “neoliberalism” about anyway?
(17:40) Some of the biggest proponents for new, big-government programs are also the loudest critics of China and Chinese competition. What’s going on with purported leftists who supported Bernie but are hawkish on China? And is that really so bad?
(45:40) We discuss a different way of thinking about China today on its own terms, reviewing its tumultuous 40-year encounter with a US-centered global system and what changed in 2008. How can we eschew approaches centered “national” and “cultural essence” and instead look at shared global dynamics between China, the US, and the rest of the world? (Jake outlined these ideas recently in this talk).
(1:13:20) Finally, Jake’s pitch for “progressive globalization,” something he is fighting for through his organization Justice is Global (along with friend of the show Tobita Chow!). Why is the US-China relationship so crucial for the next phase in world history, from climate change to Covid to equitable growth? What’s the response in DC? How can listeners become more active? (also: tankies catching strays)
Some pieces by Jake:
“Only the Left can Save Globalization Now,” with Eric Levitz, New York Magazine (2021)
“U.S.-China: Progressive Internationalist Strategy Under Biden” Rosa-Luxemburg Stiftung with Tobita Chow (2021)
“Why Confrontation With China Threatens the Progressive Agenda,” The Nation (2019)
“China is cheating at a rigged game,” Foreign Affairs (2018)
And recommended reading from Jake: “The US-China Rivalry Is About Capitalist Competition” by Ho-Fung Hung, Jacobin (2020)
note: I tried to edit out the sounds of sickness throughout, but some had to be left in, sorry! It’s not Covid, I swear!
Please share, contact us, and subscribe!
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