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Listen, can we all agree to stop calling any expenditure of money without a direct expectation of return a "zero interest rate phenomenon"? "Starving artists"
by ketzo 3y ago
Listen, can we all agree to stop calling any expenditure of money without a direct expectation of return a "zero interest rate phenomenon"?
"Starving artists" have existed for millenia. The arts patronage system began either or thousands of years ago, depending on who you ask. People have paid lots of money for gold jewelry basically since we figured out how to pull it out of the ground.
I saw someone call dog-walkers a ZIRP recently. No! It's just a luxury! There's a difference!
- Mistletoe 3y agoBut dog walking businesses weren’t getting $1.35 billion dollar valuations before the interest rates were zero for so many years in an unprecedented way. https://www.geekwire.com/2021/pet-sitting-marketplace-rover-grabs-bone-valued-1-3-billion-latest-spac-deal/ https://www.geekwire.com/2021/pet-sitting-marketplace-rover-... Hit max- https://tradingeconomics.com/united-states/interest-rate https://tradingeconomics.com/united-states/interest-rate
- ketzo 3y ago....okay, sure, granted. But the business model of "I walk other people's dogs when they don't have time to" is not a ZIRP. It's just not. People might have hired more dogwalkers! Because ZIR might have created more affluent individuals! But that's a couple logical jumps from "dogwalking is a ZIRP"
- 0cf8612b2e1e 3y agoYeah, but that could just be SoftBank and its desire to light money on fire. I heard a podcast about a different fund who wanted to invest in a dog walking business, but SoftBank offered a huge multiple on what this group thought the company was worth.