Hear Ye! Since 1998.
Sep 22

Weekly Report: September 19, 2022


  • Inflation numbers remained high this month. The market expects the Fed to continue hiking interest rates at a good pace and reacted accordingly. Mortgage rates rose above 6% for the first time since 2008. I think the pain of a sharp recession is still to come as the much of the world has become used to record low interest rates for most of the last decade. Higher rates have a knock on effect that will catalyze a downturn, causing a stronger USD, higher debt servicing burdens, decreasing demand, drying liquidity, and slowing the economy. Unfortunately, the worst is yet to come.
  • Adobe agreed to acquire Figma for $20B in cash and stock which, at signing, is the largest private tech acquisition in history. (In 2014, Whatsapp agreed to be sold for $16B, which rose to $22B at closing as Facebook stock rose.) Adobe shareholders and Figma users didn’t love the news, but early Figma shareholders did.
  • Andor, the latest Star Wars series, is out on Disney+ next Wednesday and the reviews are apparently excellent.


Movies & TV

  • Star Trek: Lower Decks (Season 3)
    Started watching this season. The series is a lot of fun. And somehow, they still keep it canon!


  • Bluestone Lane Cafe (Los Altos)
    Billed as an Australian-style cafe, we go there occasionally for a weekend brunch. The food is a facsimile of a Sydney breakfast, but I’ll take what I can get. (They sell fairy bread there but use sprinkles instead of 100s and 1000s. Heresy!) Bonus: two free Tesla charging stations. 3/5.

Charts & Images

Our 4th blackout this year that has lasted more than 30 minutes. This time happened just as we were about to bathe the kids. No power means no hot water.
Mortgage rates. Source: New York Times

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