Why tech stocks are a better bet than horses

Since 2010, M8 Ventures partner Alan ‘the nice one’ Jones has eschewed betting on the Melbourne Cup, putting his money into tech stocks instead. 

As he outlined in a blog post: “investing in the barbarous exploitation of tech industry workers does at least come with the conscious consent of the tech workers, whereas the barbarous exploitation of racehorses isn’t really something the horses can consent to”.

Jones adds: “I’d rather risk making myself poorer and Mike Cannon-Brookes richer than make myself poorer and Tom Waterhouse richer.”

He started with Apple shares at US$74.90 nine years ago, now worth $257.50, nabbed Tesla stock in 2015 at US$202.49, now sitting around $317.47 and last year got into Atlassian at $63.02, now $118.37. His only investment bound for the knackers is Netflix at $328, which now sits at $292.86.

Alan Jones’ tech stocks investment portfolio. Source: Alan Jones.

He’s making his 2019 investments today and says “I will probably buy Microsoft, or 1414 Degrees, a rather interesting Aussie renewable energy storage startup I saw pitch at this year’s Tech23“, concluding “next first-Tuesday-in-November, I encourage you to join me in buying some tech stocks instead of betting on the Melbourne Cup”.

Read his full post here.

This post was part of an article, ‘5 things you should know about tech today‘ published on our sister website, Startup Daily.

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