ΛＶΞＲΛＧΞ

Chamath's Three Takeaways from Liberation Day 🇺🇸 1) Trump will go through with the tariffs, don't expect a grand capitulation -- "Trump has had a 40-year view on tariffs." -- "They're going to go through with this and they're going to see it through." -- "I don't think you're going to see this grand capitulation." 2) The White House is okay with short-term volatility in the stock market -- Remember Bessent's quotes on "Main Street over Wall Street" and re-ordering the international trading system 3) Bond yields are down, which will save us hundreds of billions this year -- "We have $6T we need to finance in the next nine months." -- "So the singular goal, in my opinion, of the White House, has been move the 10 year as aggressively and as quickly as possible." -- As of yesterday... you were kissing 4%." -- "If it had gone in the other direction, 30 or 40 basis points, and it touched 5%, you're talking about hundreds of billions of dollars of extra money that would not have been found, that would've had to be printed." -- "Irrespective of what you think you know, or what you think you like about tariffs, we should all have a moment where we exhale because the long end of the curve is giving us a respite in a storm."