Instagram is on to APIs. Biden’s budget implies stagflation. EV poster child Elon Musk will benefit from Biden’s spending plan beginning in 2023. Ransomware attacks continue to expose the fragility of our legacy technology systems.
Last month we wrote about API strategy. Instagram (tkr: FB), recently opened its platform via APIs to enable Instagram messages to engage with third party applications. Instagram is truly becoming a platform. Read more HERE.
We published a book on stagflation. The Biden Administration’s budget shows Debt and Deficits rising as a percentage of GDP with anemic GDP growth of less than 2%. This $6 trillion spending plan calls for further inflation of the Money Supply (a measure the Federal Reserve no longer releases on a weekly basis). If the Biden Administration’s budget is not a recipe for stagflation I don’t know what is. The labor market certainly has not improved since the summer of 2020 with the Labor Participation Rate at 61.6% for May 2021, down from 61.7% in April. Read the Biden Budget HERE (the important figures are included in the table at the back of the report).
We have covered cybersecurity on a number of occasions and recently wrote about the U.S.’s fragile technology infrastructure. Over the span of several weeks we have had ransomware attacks (Colonial, JBS and others) that have demonstrated this fragility for the world to see. It would seem to present an enormous revenue opportunity for Distributed Ledger Technologies (“DLT”), as has been our theme.