CBInsights : billionaires drop a load

Jay Owen Reforming Global Finance, Latest Headlines

All in on crypto. In 2021, blockchain & crypto became a cornerstone of a16z’s investment strategy. The firm has increased its blockchain & crypto-related investments by a whopping 7x compared to last year. Overall, a16z’s deal-making has accelerated dramatically in 2021 to double its previous annual record.

 

Right on the money. US billionaires have sold $42.9B in stock so far this year, more than doubling the $20.2B they sold in full-year 2020. This includes Elon Musk’s sale of $12.7B worth of Tesla shares and Mark Zuckerberg’s $4.5B sale of Meta stock, which he has mostly pledged to his Chan-Zuckerberg Initiative. The selling surge comes as the ultra-rich look to take advantage of record-high stock valuations as well as to avoid a potential tax increase (up to 8%) on the horizon for them in 2022.

 

Charging ahead. The cost of EV lithium-ion batteries has dropped 87% between 2008 and 2021, according to the US Department of Energy’s estimates. Advancements in battery tech and increased production have helped contribute to the declining cost — making EVs more competitive.

 

Capital flows. Foreign money has been flowing to Chinese securities markets. Overseas holdings of Chinese stocks and bonds, which have seen increasing inclusion in global indices, have reached about $1.1T as of September. Given China’s crackdown on tech IPOs in the US, Chinese-listed companies have become more attractive as they may be able to respond to shifting regulations more quickly. In a parallel trend, venture investment to China-based startups has also been on the rise this year.

 

 

Gig economy. In total, 16% of US adults have earned money through gig work for online platforms like Uber, Instacart, or TaskRabbit. About 9% have made money doing gig platform work in the past 12 months.The most popular type of gig work is restaurant delivery, according to the Pew Research Center survey.

 

The +1

Level 6 happy. The best thing you can do for your relationship…is get a financial planner? According to this chart (why is it a line chart?), you’ll see a 6% change in level of happiness, whatever that means.