The Fed Can’t Stop You From Finding the Next Google

Source: American Consequences
by Trish Regan

“When I landed at San Francisco International Airport in January 2001, I had a nagging feeling. The technology economy (and (too) many startups) looked increasingly fragile. Valuations on the tech-heavy Nasdaq Composite Index were beginning their two-and-a-half-year-long 77% plunge. (It would take the index 15 years to recover.) I had just moved from New York to start a new life with my then-fiancé… But by that time, the party was over for many. Some promising companies, though, capitalized on that moment to launch revolutionary technologies that would change our lives forever (think search engines). The Federal Reserve took action in 2000 to deal with the crisis, much like today. Back then, the Fed exacerbated the swollen tech bubble and, I’d argue, helped create that bubble and drive the market collapse that followed. Buckle up, it’s about to happen all over again.” (05/12/22)