EIEIO...Learning at the Speed of Light ⚡️
My keynote at the 2025 ASU+GSV Summit in San Diego on Monday night
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EIEIO…Fast Facts
Entrepreneurship: 42% – The percentage of all business owners who have never attended college. (Flippa)
Innovation: 55% – The percentage of Germans who would support the government introducing a universal basic income, compared to just 29% of Danes. (YouGov)
Education: 93% – The percentage of college students who are satisfied with virtual learning. (BestColleges)
Impact: 8.9 million – The number of multiple jobholders in the US. At 5.4% of all employed workers it’s the highest level since April 2009. (Sherwood)
Opportunity: $116,633 – What Americans need to earn per year to afford the median priced home for sale, 81.8% more than the $64,160 they need to afford the typical apartment for rent. (Daily Chartbook)
🎥 Watch my keynote here:
Market Performance
Market Commentary
Tarrific or Tarrible, the markets had their best week since November 2023 and Wednesday, was the second best day ever with NASDAQ rising a whopping 12%.
For the week, NASDAQ advanced 7.3%, the S & P 500 was up 5.7% and the Dow increased 5.0%. For the year, NASDAQ is down 13.3% the S&P 500 is off 8.8%.
Additionally, the 10-year treasury yield rose 50 basis points last week to 4.49% its biggest one week gain since November 2001. The 10-year note’s jump reflected the extreme anxiousness in the markets, opposite of the fact CPI came in at -.1% for March.
Of course, the 90-day pause on tariffs destined for every country on earth save China was the catalyst for the huge upward move in stocks. The bond market spoke and the White House listened.
Moreover, Gold prices surged 6% to over $3200 an ounce and many gold related stocks reached all time highs. The dollar, historically a safe haven in moments of chaos took it on the chin as investors questioned the stability of Washington.
Warning bells went off last week by JP Morgan’s CEO Jamie Dimon and Blackrock’s CEO Larry Fink that we are teetering on the brink of a recession. It’s now the beginning of earnings season which will be instructive on the actual health of the economy.
Clearly, we have gone through a significant correction with uncertainty and volatility at cautionary levels. While we haven’t appreciated the style of how things have happened under the new administration, we do believe the overall substance will pay large dividends down the road.
Eliminating wasteful administrative cost in government, having fair relationships with our trading partners and making sure our citizens are safe and secure shouldn’t be controversial. We hope that as we move forward, communication and collaboration improves so we can be truly the United States of America.
Accordingly, long term investors can look at the significant “sale” that’s taken place in many leading companies as opportunity to buy “swimsuits in January.” Investors with a shorter term horizon should prepare for a bumpy road while we are going through some road repair.
Need to Know
WATCH: ☀️ EP. 3· U.S. Secretary of Education Linda McMahon | Edreform in 10
READ: The Third Workforce: From Analog Labor to Agentic Labor | Digital Native
LISTEN: The Great Tariff Debate with David Sacks, Larry Summers, and Ezra Klein | All In
GSV’s Four I’s of Investor Sentiment
GSV tracks four primary indicators of investor sentiment: inflows and outflows of mutual funds and ETFs, IPO activity, interest rates, and inflation.
#1: Inflows and Outflows for Mutual Funds & ETFs
#2: IPO Market
#3: Interest Rates
#4: Inflation
Chart of the Week
Maggie Moe’s GSV Weekly Rap
Chuckles of the Week
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Connecting the Dots & EIEIO…
Old MacDonald had a farm, EIEIO. New MacDonald has a Startup…EIEIO: Entrepreneurship, Innovation, Education, Impact and Opportunity. Accordingly, we focus on these key areas of the future.
One of the core goals of GSV is to connect the dots around EIEIO and provide perspective on where things are going and why. If you like this, please forward to your friends. Onward!
Make Your Dash Count!
-MM