MAY 30, 2020
Software is Eating The World but Weed and Wagering Will Feed It…And Shoulda Coulda Part 2
I don’t gamble.
In an era of Draft Kings being a public company that has actually cost me.
If I was a sports bettor I likely would be long Draft Kings. I have friends that work there and I have followed the company for years as it went through the highs and lows of being a startup.
Here is the chart since it went public though a reverse merger at $10
chart waaaay to big to post.
When Draft Kings first appeared trading after completing a reverse merger (SPAC) I wrote that ‘Draft Kings is to gambling, what Virgin Galactic ($SPCE) was to Space. Virgin Galactic came public at $10 and quickly went to $40.
Should, coulda…
The marijuana stocks have also been perking since COVID-19 began. Here is a chart of the Marijuana index ($MJ).
Post Covid – weed and wagering will likely be front and center for states that need revenue from you know…taxes
Marc Andreessen was correct when he said software would eat the world but it might just be in the coming years that weed and wagering feed the world.
http://howardlindzon.com/software-is-eating-the-world-but-weed-and-wagering-will-feed-it-and-shoulda-coulda-part-2/
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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