That said, clearly you’ve had rates going up, which hasn’t happened in a very long time. I’ve felt that ever since my MBA macro class. There are just so many variables with macro. I also spent time tracking down Howard Marks and Stanley Druckenmiller because I think there are so few people who have proven that they have a valuable point of view on macro. My question was, “You know, if interest rates are zero, (1) your DCF model doesn’t work, and (2) it drives all kind of speculation.” And he said, “You betcha!” I even paid a massive amount of money to end up at this dinner with Warren Buffett, where we each got to ask him one question. Three or four years ago, I felt, like many others, that the really big problem was the zero-interest-rate thing, this prolonged period of near-zero interest rates.
Do you agree with that? Do you think we’re entering a period of extended uncertainty?īill Gurley: It’s funny. Many people feel that the externalities affecting so many businesses-whether it’s the war in Ukraine, inflation, geopolitics, changing labor patterns-seem more complicated now than they have been in a long time. But it’s a bracing lead-in to talking about how difficult things might be for start-ups during what seems to be a time of great uncertainty. Anyway, that wasn’t on your original list of questions. And then you’re in retweet land-you end up with two or three of them. You get 100 percent of the pain and very little gain. Yet you get all the cultural negatives of having done a layoff. You don’t get any material impact to lowering your expenses. They didīill Gurley: See, that’s the thing.
Well, 23 percent is getting into a range that actually makes sense. In ’01 and ’09, you had broadscale layoffs, but only now are we starting to see them this time around. As if to prove the point, an alert just popped up on my screen: Robinhood is laying off 23 percent of its workforce.īill Gurley: Wow. To talk about start-ups at what seems to be a particularly challenging moment. Starting at seven months from account opening, Discover will automatically review your account to see if they can transition you to an unsecured line of credit and return your deposit.Rick Tetzeli: Thanks so much for joining me The Discover it® Secured Credit Card card tops our list for the best secured credit cards by offering cardholders cash back, a generous welcome bonus and no added fees on purchases outside the U.S. So if you make a $200 security deposit, you'll receive a $200 credit limit. The amount you deposit typically starts at $200 (though it can start as low as $49) and often becomes your credit limit. The main difference is you're required to make a security deposit in order to receive a line of credit. And you can use a secured card just like a traditional (aka unsecured) credit card to help you establish good credit, as long as you practice responsible credit behavior.Ī secured card is nearly identical to an unsecured card in that you receive a credit limit, can incur interest charges and may even earn rewards. These cards are typically easier to qualify for if your credit history is poor or non-existent. Secured credit cards are a great way to build credit if you have none. You'll want to make a clear plan for how you'll pay back any purchases you make with the card, so you don't risk wracking up debt on someone else's card. You don't want to become an authorized user on an account that has debt or late payment history, since those negative actions will appear on your credit history and counteract any credit building you plan on achieving.Īlso, make sure you practice responsible behavior as well.
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