Chamath’s prediction is largely accurate. First, after October 2021, US consumer prices continued to rise sharply, with CPI inflation climbing from about 6–7% at the end of 2021 to a 40‑year high of 9.1% in June 2022, and remaining elevated through late 2022, confirming his view that prices would keep rising rather than proving transitory. (bls.gov) Multiple analyses from the Dallas Fed, Brookings and others find that this bout of high inflation disproportionately burdened low‑income and lower‑middle‑income households, who spend more of their budgets on necessities like food, energy and rent, and reported significantly higher inflation stress than higher‑income households, matching his claim that the middle and lower‑middle class would be hurt most. (dallasfed.org) Second, several prominent asset bubbles from the 2020–21 era did deflate or get repriced: speculative growth and innovation stocks such as Cathie Wood’s ARK Innovation ETF fell about 80% from their early‑2021 peak by the end of 2022, fintech‑focused ARKF dropped about 65% in 2022, and the crypto market, which had peaked around November 2021, lost more than $2 trillion in value by late 2022 as bitcoin and other major coins plunged 60% or more, consistent with his expectation that asset bubbles would deflate or be rerated. (investors.com) Third, the conditional part of his forecast also materialized: the Federal Reserve finished tapering its asset purchases and then began raising interest rates in March 2022, ultimately hiking the federal funds rate at every meeting from March through December 2022 (well beyond the 2–3 hikes he posited within 12–18 months), and in the same period US equities suffered an ugly downturn, with the S&P 500 falling about 25% peak‑to‑trough in 2022 and ending the year down roughly 19%, while the tech‑heavy Nasdaq Composite dropped about 33%, a classic bear market. (forbes.com) Taken together, inflation, its regressive impact, the deflation of speculative asset bubbles, and the Fed‑driven 2022 bear market all played out in line with the scenario Chamath described, so the prediction is best judged as right, even though the exact magnitudes and timelines were not specified in detail.