This is where the market is the economy - Batnick

"... because they're using their stock as currency to pay employees."

"... in specific parts of the economy." - Josh Brown. In tech, not the housing market in Okl. Will be felt in housing, spending, and tax receipts in Cali.

Snapchat's stock options paid to employees are now 40% underwater.

Stock is down 75% from highs, down like 40% from IPO.