Its great to be with. I noticed from doing podcasts we are going to read a few sentences i will probably gather from your book and the first question, you write in the book, innovation is most important on the modern world but the least understood. Its the reason most people say prosperity and wisdom prepare for their ancestors. The main ingredient in freedom to exchange, experiment and fail liberals have argued that freedom mean needs prosperity bi would argue theyve never found the chain by which one causes the other. Innovation is the driving change, the missing link. If a child of freedom and parent of prosperity. The theres a growing belief since the Apollo Space Program and the innovation from this part of central planners in the industrial policy. People exchanging the ideas freely yes we are experiencing innovation also a care in the western world there are areas we havent been able to get enough innovation and the pandemic has reminded us of that. We havent been able to as muc
Two years. Massive bit ofa chinese index dropping in a few months. Last, theill they markets will open in less than 30 minutes. We will see what is going on is a gauge for what is happening here in hong kong and beyond. When you look at the market and be you might get surprisingly cautious. Talk on the street here, anecdotally of course, they are and of scratching their head and wondering why we are seeing this rally. There have been a changes in the market. Cement makers. Here is your share index that goes all the way back about 12 months. This is your relative strength index, this is the highest level , this was right before things came crashing down. This came back in april, i think i can show you that. This had a little bit of time, april. There we go. Months, next seven these lost close to a trillion u. S. Dollars. Still about 30 lower, that being said, this is about 79. 99 how close is the situation leading up to that . Do you see any parallels to that . There are a few. The othe
First to our lead. Snap wrapped up its first day of trading thursday. Shares closed up 44 from its listing price. It reached a high of just over 24. 28. Fore closing at the maker of the disappearing photo app ended a long tech ipo drought. We caught up with our Bloomberg Technology reporter alex barinka and sarah frier, who covers snap. If you think about the range, typical ipo, 20 to 30 . This one will have more buzz baked in. If you look at twitter, it was, what . 70plus percent on day one . Facebook less than 1 . When i look at trading and how the stock was around that 25 mark all day, it was stable. We saw it selloff towards the end of the day, but it seemed like a decent way to go out. No one is complaining about the ipo for investors. It has almost tripled its ipo value, facebook down 31 after one year. Twitter, down 10 , now down 65 . Talk us through the managing of expectation. The roadshow was not all smooth. Many questioning the user growth. Absolutely. This is a company tryi
First to our lead. Snap wrapped up its first day of trading thursday. Shares closed up 44 from its listing price. It reached a high of just over 24. 28. Fore closing at the maker of the disappearing photo app ended a long tech ipo drought. We caught up with our Bloomberg Technology reporter alex barinka and sarah frier, who covers snap. If you think about the range, typical ipo, 20 to 30 . This one will have more buzz baked in. If you look at twitter, it was, what . 70plus percent on day one . Facebook less than 1 . When i look at trading and how the stock was around that 25 mark all day, it was stable. We saw it selloff towards the end of the day, but it seemed like a decent way to go out. No one is complaining about the ipo for investors. It has almost tripled its ipo value, facebook down 31 after one year. Twitter, down 10 , now down 65 . Talk us through the managing of expectation. The roadshow was not all smooth. Many questioning the user growth. Absolutely. This is a company tryi
First, snap wrapped up its first day of trading thursday. Shares closed up 44 from its listing price. It reached a high of just over 26. It closed at 24. 48. The maker of the disappearing photo app ended a long tech ipo drought. We caught up with Bloomberg Ipo reporter alex barinka and sarah frier. If you think about the range, a typical ipo you like to see 20 to 30 . This one will have more buzz baked in. Twitter was 70 percent plus on day one. Facebook less than 1 . When i look at trading and how the stock was around that 25 mark all day, it was stable. There was not a lot of swinging going on. We saw it selloff towards the end of the day, but it seemed like a decent way to go out. No one is complaining about the return for investors. If you look at the ipo scoreboard, facebook now almost triple its ipo value. Twitter, down 10 , now down 65 . It is worth remembering that what happens on the first day of an ipo is not always remain. Talk us through the managing expectations. The roads