Hoffman urged his contacts to reflect on the reaction of Trump’s supporters following his conviction on 34 felonies:
“They immediately closed ranks, understanding the importance of either boosting their candidate or attacking ours. Focusing on Biden’s flaws detracts from highlighting Trump’s flaws, which works in their favor and against ours.”
He also emphasized that Biden has the right team, values, instincts, patriotism, courage, and still stands a chance at winning the race:
“The fundamentals matter more than a single debate. Drawing a parallel from 1984 when Ronald Reagan’s debate performance initially raised concerns about his age but he turned it around in the next debate and won the election in a landslide.”
On the other hand, Dalio focused on the potential replacement for Biden, suggesting that this choice could shape the future political landscape. He predicted that the Republican side would consist of individuals from the hard right and that the Democratic side’s direction would hinge on whether they lean towards the soft left (socialists with liberal values) or hard left (close to communists).
He elaborated:
“We need to consider the choice between right and left, how extreme they lean, the ideologies of the Republican and Democratic teams, market preferences, and the absence of bipartisan middle ground. Unfortunately, personality will outweigh competence in importance.”
Dalio’s email conveyed little optimism, concluding that the election might boil down to a choice between two extremists, painting a bleak domestic picture amidst other disruptive global forces.
On our radar: ‘What Went Wrong With Capitalism?’
Ruchir Sharma, chair of Rockefeller International, expresses concern about America and the need for a reset in capitalism. He discusses his new book, “What Went Wrong With Capitalism?” in a conversation with DealBook, highlighting the challenges and potential solutions.
