Gerstner reports $15 trillion household net worth destroyed in five months, bringing levels back on trend.
“We destroyed 15,000,000,000,000, you said this on pod 80, we destroyed 15,000,000,000,000 of household net worth in the last five months.”
Gerstner says over a thousand billion-dollar-plus companies in Silicon Valley are trying to raise capital and will face significant washout.
“There are over a thousand of those in Silicon Valley, over a billion dollars that are trying to raise capital right now.”