Gerstner deployed hundreds of millions into private software in late March/early April 2020 during COVID crisis.
“During periods of crisis like we've experienced over the last ninety days, I mean we put hundreds of millions of dollars to work in the private software market at the end of March and early April, because we weren't thinking about the next six minutes or the next six weeks”
Gerstner argues markets correctly priced digital transformation arc despite initial concerns after 50% bounce in May.
“What it has been slow in pricing in is how dramatically different the arc will be for many of these digital businesses. I remember having conversations with Rich and many others in May.”
Gerstner explains auto insurers lost money in 2021 because safe miles disappeared while accidents per mile spiked.
“But what turned out to be true is that the miles that came off the road for some reason were safe miles, and the mile the accidents per mile driven actually spiked a lot.”
Gerstner claims research shows lockdowns achieved nothing when measured by excess deaths across countries.
“they've gone back through and looked at excess deaths at a number of different countries and lockdowns achieved nothing.”
Gerstner argues media blocked research on COVID origin and response, labeling disagreement with Fauci as misinformation.
“And some of this came out in the in the Twitter files where if you said anything that wasn't a 100% consistent with what Fauci and Collins were saying, it was labeled misinformation, conspiracy theory.”
Gerstner states lockdowns achieved nothing according to excess death data and lost generations of kids from school.
“I think most people believe there were consequences to lockdowns definitely with kids. Yes. Lost generations of kids from school.”
Gerstner says COVID and zero interest rates led to gross excesses and misallocation.
“You know, we had these negative interest rates, this zerp period that just led to gross excesses across the economy, misallocation of resources.”