I think that that we're probably going to have a quarter or two contraction. It's probably going to happen at sort of at the late end of this year, beginning of next year.View on YouTube
BEA data show that after contracting in the first half of 2022 (real GDP −1.6% in Q1 and −0.6% in Q2),(apps.bea.gov) a period widely described as a ‘technical recession’ because of the two consecutive negative quarters,(rabobank.com) real GDP then returned to growth. It grew at annualized rates of about 2.9% in Q3 2022,(bea.gov) 2.6% in Q4 2022,(apps.bea.gov) and 2.0% in Q1 2023.(bea.gov) Thus, the US did not experience one or two quarters of real GDP contraction starting in late 2022 or early 2023 as Chamath specified; the only back‑to‑back contractions occurred earlier in 2022, outside his stated late‑2022/early‑2023 window. Because the prediction’s timing is integral to its content and that timing did not materialize, this forecast is judged wrong.