Lead generation productions
Most successful businesses have a lead generation product which acts as a hook for finding new customers. For example:
– For Amazon Web Services (AWS) it's the free, on demand, micro instance. Very quickly, customers acquire more computational capacity. Several months and many thousands of dollars later, the customer will have spent almost twice what would have been had they simply reserved larger instances for a longer period.
– New York bars offer $1 oysters during happy hour. The initial plan is always to get there early, order a dozen oysters with a couple of drinks. Then, leave early. Several hours and many drinks later, the first round cost less than the tip. And, you're probably in a lot of trouble when you get home.
– Money Market (MM) funds are like the $1 oysters, or micro instance, of the asset management industry. Customers invest in MM funds backed by safe short duration government issued securities, such as T-bill and treasuries, earning a rate of interest close to those of risk-free asset yields. Several months later and no bad oyster experiences…
Maybe we should consider providing mezzanine financing on this Nicaraguan solar project which has a good ESG rating.
What's your lead gen product? Or, are you the product?
USA Inc. = Big Tech + Fed + Treasury
Temporarily silencing those voices calling for an end to the traditional 60/40 portfolio allocation in bonds… and the perpetual proponents of the tech bubble narrative.
Is the banking turmoil/crisis over?
It's still early to say and it may (still) pay to wait a few more days. There is still a big elephant in the room which delves more into the realms of politics than macroeconomics. Too obvious to state for some folks here, and no point in mentioning to others before it's necessary.
Happy end of first quarter!
P.S. Yes, we know… he reiterated his long standing bearish US equities call on Monday. It's very unfortunate timing again.