Lao Tzu (also spelled Laozi or Lao-Tze) was a semi-legendary ancient Chinese philosopher who is credited with writing the Tao Te Ching, a classic of Chinese philosophical-religious literature.
‘The journey of a thousand miles begins with one step’.
Chinese Legend
According to legend, Lao Tzu met Confucius, the founder of Confucianism, and impressed him with his wisdom. He also tried to teach people the way of the Tao, but found them unwilling to listen. He then decided to leave civilization and retire into seclusion. Before he departed, he wrote down his teachings in the Tao Te Ching at the request of a border guard. Some Taoist sects believe that he then became an immortal.
Culture influence
Lao Tzu’s influence on Chinese culture is immense. He is regarded as the ancestor of the Tang dynasty (618-907 CE), one of the most prosperous and powerful periods in Chinese history. He is also revered as a deity in religious Taoism and Chinese folk religion, under the name Laojun, one of the ‘Three Pure Ones’.
His teachings have inspired many other philosophers, poets, artists, and leaders throughout history and across the world.
‘The journey of a thousand miles begins with one step’.
Sequoia Capital and Andreessen Horowitz, two of Silicon Valley’s most high-profile venture firms, are poised to take a massive hit on their investments in grocery delivery company Instacart, a deal that closed in 2021 as tech stocks were soaring.
In its latest IPO prospectus update, Instacart said it plans to sell shares at $28 – $30 a share, valuing the company at around $10 billion at the top of the range. That’s more than 75% below where Sequoia and Andreessen invested in early 2021. At that time, Instacart sold shares at $125 a pop valuing Instacart at $39 billion.
Valuation plunge
The reason for the valuation collapse is that the U.S. economy reopened after the pandemic, then inflation spiked and the Federal Reserve started raising interest rates, which were stuck near to zero throughout the Covid pandemic.
Borrowed money suddenly became expensive again, and quickly too. Tech’ companies in early stages of development, need access to research and development finance – interest rate increases restricted investment.
Instacart 75% plunge in valuation from original price of $125 per share
Then consumers started shopping again on foot, and with capital costs increasing, investors began demanding that companies find a strong path to profitability.
IPO
Instacart is trying to crack open an IPO market that’s been closed for venture-backed companies for nearly two years, so it won’t be easy. However, the ARM IPO recently may re-adjust that view.
George Orwell 1903 – 1950. This quote is ‘attributed’ to George Orwell, a British writer and journalist who is best known for his novels 1984 and Animal Farm. But this quote is most likely NOT an Orwell one – eventhough it is widely accepted as his.
It is most likely that Orwell never wrote or spoke these words, even though they have a broadly Orwellian dystopian feel to them. It would appear that this quote was first written by a conservative writer in 2009, but has been almost universally misattributed to Orwell in the intervening 12 years.
The earliest record found found and apparently the original, was descovered in a column by the conservative writer Selwyn Duke, written in 2009.
So, who is Selwyn Duke?
Selwyn Duke is a conservative writer and commentator who has published articles on various topics such as politics, culture, religion, and science.
Duke is known for his traditionalist and sometimes controversial views on issues such as immigration, feminism, transgenderism, and vote fraud. He has written for several online and print outlets, such as The Hill, The American Conservative, WorldNetDaily, and American Thinker.
He also has a personal website where he posts his opinions and media appearances, and is active on X.
Selwyn Duke should not to be confused with George Orwell, a British author who wrote novels such as 1984 and Animal Farm. A quote that is often misattributed to Orwell actually originated from a 2009 opinion piece by Duke
‘The further a society drifts from truth the more it will hate those who speak it.’ Attributed to Orwell – but likely not one of his quotes.
Confidence in Bank of England (BoE) is a measure of how much the public trusts the central bank to control inflation, set interest rates and maintain economic stability.
According to the latest Inflation ‘Attitudes Survey‘ conducted by the Bank of England in August 2023, confidence in Bank of England has plummeted to an all-time low.
Survey
The survey found that only 19% of the respondents were satisfied with the way the Bank of England was doing its job to set interest rates to control inflation, while 40% were dissatisfied. The net satisfaction rate was -21%, which is the lowest since the survey began in 1999.
2% inflation please
The main reason for the low confidence is the high inflation rate that has been persisting in the UK for more than a year. Inflation reached a peak of 11.1% in December 2022, and was still at 6.8% in July 2023, well above the Bank of England’s target of 2%. The Bank of England has raised interest rates 14 times since the end of 2021, from 0.1% to 5.25%, to try to bring inflation down, but this has also increased the cost of borrowing and living for many households and businesses.
Slow
Some critics have argued that the Bank of England (BoE) acted too slowly and too cautiously to raise interest rates when inflation was rising, while others have warned that raising rates too high and too fast could harm the economic recovery from the Covid-19 pandemic.
The public’s expectations of future inflation are also high, with a median answer of 2.9% for inflation in five years’ time, almost one percentage point higher than the Bank’s target.
Credibility
Confidence in Bank of England (BoE) is important because it affects how people behave in terms of spending, saving, investing, and borrowing.
Bank of England hits all-time confidence low according to survey
Loss of faith
If people lose faith in the central bank’s ability to control inflation and maintain economic stability, they may act in ways that could worsen the situation, such as hoarding money, demanding higher wages, or taking on more debt.
Therefore, it is crucial for the Bank of England to communicate clearly and effectively with the public about its policies and actions, and to restore trust and confidence in its role as an independent and credible institution.
It is also useful to take notice of early warning signs, such as the economic red alert posed by inflation after the pandemic recovery started.
The FTSE 100 is the index of the 100 largest companies listed on the London Stock Exchange by market capitalization. It is one of the most widely used indicators of the UK economy and the performance of British businesses.
The FTSE 100 had its best week of the year in the week ending 15th September. The index closed at 7,711 points on 15th September 2023. This was the highest weekly gain of 2023.
