The first real explosive Internet IPO was a company called TheGlobe.com. It was kind of a proto-social networking/message board site, and on the day it went public in 1998, its shares soared 606%. Its co-founders were briefly worth around $100 million each. They become overnight celebrities, known for their extravagant lifestyles and even their fashion choices. Of course, it all came to an end when the tech bubble collapsed. So what is the experience of a bubble collapsing and watching all of your wealth vanish actually like? On this episode, we spoke with TheGlobe.com Co-Founder and Co-CEO Stephan Paternot, about the IPO, and the moment he knew it was all coming to an end. We also discussed how he went from ultra-rich to needing help from his parents to pay the rent, and what it was like bouncing back from that psychologically.

The first real explosive Internet IPO was a company called TheGlobe.com. It was kind of a proto-social networking/message board site, and on the day it went public in 1998, its shares soared 606%. Its co-founders were briefly worth around $100 million each. They become overnight celebrities, known for their extravagant lifestyles and even their fashion choices. Of course, it all came to an end when the tech bubble collapsed. So what is the experience of a bubble collapsing and watching all of your wealth vanish actually like? On this episode, we spoke with TheGlobe.com Co-Founder and Co-CEO Stephan Paternot, about the IPO, and the moment he knew it was all coming to an end. We also discussed how he went from ultra-rich to needing help from his parents to pay the rent, and what it was like bouncing back from that psychologically.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Tuesday and Thursday for interviews with the most interesting minds in finance, economics and markets.

Odd Lots

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday and Thursday. 

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday and Thursday.

The Moment a Most Famous Dotcom Millionaire Knew the Party Was Over

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/feacd21a-40bc-4b82-8060-aeca012ad178/transcript

Over the last roughly 15 years, we've seen a migration of certain types of risks outside of regulated deposit-taking banks. Private credit has boomed, shifting lending activity away from the banks. Multi-strategy hedge funds have scooped up a lot of the proprietary trading activity that was banned under the Volcker Rule. On paper, this looks good. It seems like various risks have been removed to less systemic institutions. But does the risk find its way back in? What happens when these outside entities still rely on banks for leverage? On this episode of the podcast, we speak with Steven Kelly, the Associate Director of Research at the Yale Program on Financial Stability. We talk about where risks might lie and how regulators can stay atop of them.

Read More:
Era of Private Credit Returns Beating Private Equity Is Nearing an End
Hedge Fund Basis Trade Faces Scrutiny as Regulators Mull Probe

Over the last roughly 15 years, we've seen a migration of certain types of risks outside of regulated deposit-taking banks. Private credit has boomed, shifting lending activity away from the banks. Multi-strategy hedge funds have scooped up a lot of the proprietary trading activity that was banned under the Volcker Rule. On paper, this looks good. It seems like various risks have been removed to less systemic institutions. But does the risk find its way back in? What happens when these outside entities still rely on banks for leverage? On this episode of the podcast, we speak with Steven Kelly, the Associate Director of Research at the Yale Program on Financial Stability. We talk about where risks might lie and how regulators can stay atop of them.
Read More: <a href="https://www.bloomberg.com/news/articles/2024-11-07/era-of-direct-lender-returns-beating-private-equity-nears-end?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article">Era of Private Credit Returns Beating Private Equity Is Nearing an End</a> <a href="https://www.bloomberg.com/news/articles/2024-11-04/hedge-fund-basis-trade-faces-scrutiny-as-regulators-mull-probe?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article">Hedge Fund Basis Trade Faces Scrutiny as Regulators Mull Probe</a>

Can You Ever Actually De-Risk The Banking System?

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/d11e025b-cd7d-4c95-8b56-b22201031662/transcript

There was a a point in time when Twitter used to be good for breaking news. Social media outlets like Instagram and Facebook were great for keeping up with friends. There used to be websites that people would refresh throughout the day, reading news or gossip from sources they knew and trusted. Now, most of that has gone -- or at least changed dramatically. A combination of profit imperatives, political motivations, and AI have upended much of that old internet. So what happened? Why has the web become a home of slop and sludge? We speak to Max Read, the author of the Read Max newsletter, to understand today's internet, and where things are going next.

Read More:
Musk Is About to Find What $130 Million for Trump Gets Him
TikTok Ordered to Close Canada Unit Due to National Security

There was a a point in time when Twitter used to be good for breaking news. Social media outlets like Instagram and Facebook were great for keeping up with friends. There used to be websites that people would refresh throughout the day, reading news or gossip from sources they knew and trusted. Now, most of that has gone -- or at least changed dramatically. A combination of profit imperatives, political motivations, and AI have upended much of that old internet. So what happened? Why has the web become a home of slop and sludge? We speak to Max Read, the author of the Read Max newsletter, to understand today's internet, and where things are going next.
Read More: <a href="https://www.bloomberg.com/news/articles/2024-11-06/what-trump-election-means-for-elon-musk-tesla-tsla-and-spacex?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article" data-testid="link-with-safety" data-renderer-mark="true">Musk Is About to Find What $130 Million for Trump Gets Him</a> <a href="https://www.bloomberg.com/news/articles/2024-11-06/tiktok-ordered-to-close-canada-unit-on-national-security-risk?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article" data-testid="link-with-safety" data-renderer-mark="true">TikTok Ordered to Close Canada Unit Due to National Security</a>

Max Read on how the Internet Got Infested With Garbage

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/e00a1b8a-c7da-4160-9924-b22101683160/transcript

The US election is over and Donald Trump has won a second term as president. Stocks have rallied on Trump's win, of course, but some of the more interesting moves have taken place in the bond market. Not only have yields on US Treasuries shot up, but expectations for volatility in the world's most important market were also shifting higher ahead of Trump's win. All of this is happening even though the Federal Reserve is widely expected to cut benchmark rates again this week. So what's driving higher yields? On this episode, we speak with Harley Bassman, managing partner at Simplify Asset Management and creator of Convexity Maven, about all the recent moves in bonds and what could be coming next. 

Read More:
Volfefe Returns to the Bond Market
The Market’s Constraint on Full Trumpism

Become a Bloomberg.com subscriber using our special intro offer at bloomberg.com/podcastoffer. You’ll get episodes of this podcast ad-free and exclusive access to our daily Odd Lots newsletter. Already a subscriber? Connect your account on the Bloomberg channel page in Apple Podcasts to listen ad-free.

The US election is over and Donald Trump has won a second term as president. Stocks have rallied on Trump's win, of course, but some of the more interesting moves have taken place in the bond market. Not only have yields on US Treasuries shot up, but expectations for volatility in the world's most important market were also shifting higher ahead of Trump's win. All of this is happening even though the Federal Reserve is widely expected to cut benchmark rates again this week. So what's driving higher yields? On this episode, we speak with Harley Bassman, managing partner at Simplify Asset Management and creator of <a href="https://www.convexitymaven.com/" data-destination="https://www.convexitymaven.com/">Convexity Maven</a>, about all the recent moves in bonds and what could be coming next. 
Read More: <a href="https://bloom.bg/3YAYUya">Volfefe Returns to the Bond Market</a> <a href="https://bloom.bg/3UEROYj">The Market’s Constraint on Full Trumpism</a>
Become a Bloomberg.com subscriber using our special intro offer at <a href="bloomberg.com/podcastoffer">bloomberg.com/podcastoffer.</a> You’ll get episodes of this podcast ad-free and exclusive access to our daily Odd Lots newsletter. Already a subscriber? Connect your account on the Bloomberg channel page in Apple Podcasts to listen ad-free.

Harley Bassman on Trump, the Fed, and the Bond Market

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/660c5bb2-eb84-463f-9cc2-b2200152d099/transcript

The Moment a Most Famous Dotcom Millionaire Knew the Party Was Over

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