Alibaba to moon. Shares nearly triple from IPO price in Hong Kong debut, to a mere 300x (ish) earnings. $22 billion market cap.
Newspaper circulation continues steady decline: Down -2.6% year over year. Newspapers respond by trying to highlight total “audience” of combined print and online. This has some relevance for advertisers, perhaps, but not for the health of newspaper companies: online readers are worth far less than print readers.
Soros says U.S. economy “on the verge of a very serious economic correction.” So we’ve got that going for us.
Dollar crushed again, falls to weakest level vs. multiple currencies in recorded history. Down to $1.45 per Euro. So much for the currency of last resort. At this rate, the “mighty greenback” soon won’t be worth the paper it’s printed on.
Money, money everywhere: TCV raises $3 billion tech investment fund. Reminder to entrepreneurs who think current easy-money environment is going to continue forever: Get it while you can.
California’s yawning budget deficit: $10 billion and counting.