So what does this mean for technology?

Well there are 3 huge IPOs supposed to go out this year. This hurts liquidity and clogs the pipes.

And then for early stage venture, where I work, it will be harder to raise funds and move new ventures forward. Especially given the extreme shifting of public assets to loyalists.

Overall it’s a bleak time for American exceptionalism. The only companies that are in vogue are AI and Defense. Biotech continues to get hammered because who needs medicine when we can just bomb people with AI right?

▲

gadflyinyoureye 2 days ago | parent [-]

Not even defenses. How is RTX down?

▲

roysting 2 days ago | parent [-]

I suspect it’s the unwinding of the Yen carry trade and/or indirectly connected to running for shelter for several reasons including the massive bomb in private lending and subsequently private equity that is ticking down and doing so even faster now that Trump cut the wrong wire to distract from the Epstein files and him being a child rapist.

This all seems structural, as indicates that in the middle of a war even military stocks are down, which indicates deep rot or deep lack of confidence in at least the stock market.

	▲	gadflyinyoureye 2 days ago \| parent [-]
		That could be at least part of it. My understanding as to why gold dropped is that many countries essentially got market called. The Oil countries don't have cash reserves without selling, but they do have gold. Taking in London is that the Saudi's have sold a good amount of gold. China stopped buying in Q4 2025. Others followed suit. Hell, Russia is blocking gold exports at the end of the month.