Billionaire Predicts Wage Inflation in 2023 – Investment Approach

The Daily Hodl | Jan 9, 2023

Utopia - Billionaire Predicts Wage Inflation in 2023 - Investment ApproachBillionaire venture capitalist Chamath Palihapitiya says that he expects inflation to persist this year as a fresh narrative takes shape.

  • 3 chapters of inflation:
    • So 2021, chapter one, was all about energy inflation… It caused that initial spike in inflation, and then we had it come off…
    • 2022 was really the story of goods inflation. All these prices and all of these things went up because the input costs went up, and we all had to bear the implications of that. But then that started to ebb.
    • 2023: as the labor participation rate stays low and continues to go down, and also it’s compounded by an unemployment rate that may go up, it’s going to be harder and harder to get people to do the work you need at the company you have unless you pay them more.
      • If that gets exaggerated, then inflation will stay where it is.”

See:  a16z: Big Fintech Ideas to Tackle in 2023

Conservative investment strategy:

“I would have a combination of cash and the front end of the yield curve, so Treasury bills all the way up to two-year bonds. You can generate 4.5%, probably by the end of this year 5% pretty safely owning this stuff while you wait for things to become more certain. The way that I think about it is that I would rather miss the first 10% or 15% of a rally once we’re really done this stuff than try to overcorrect and try to pick a bottom.”

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