Feb 6, 2023
"We're two-thirds into the Federal Reserve's process, no matter how you look at it we're on the back end of hikes," predicts Kevin O'Leary, business mogul and star of ABC's hit TV series Shark Tank. "This could've been the last rate hike for a while because the Federal Reserve has not seen any slowdown yet, and specifically with payroll figures," he tells our Daniela Cambone. O'Leary discusses his latest investment in the state of North Dakota where he argues, "The flyover states are using policy to change the competitive environment against California and Massachusetts and many others states that were the hot beds for startups." He says, "Today, we’d never fund a startup in one of those states, the tax and regulatory environment are too punitive... the new strategy has been competition of state." "You need to keep your powder dry, and I'm very interested in these developing AI technologies... I think I have to participate," he continues. "On equities, I remain very cautious. I won't buy something unless it has positive cash flow in all 11 sectors," O'Leary concludes.