Needs to be bad times for more than a few months to create the affect you talk about. I agree whole heartedly. Having been through the 90’s .com burst, 2008 recession, and COVID; we need a few years of hard times to create the resilience. Wish it could be faster. “Hard choices, easy life. Easy choices, hard life.”
So the young-20-somethings who found a way to thrive in the pandemic's "easy mode" (lol) are bad, but the FOUNDERS who have enough of other people's money to wait out [checks notes] a few more months of HARD MODE are good and righteous and deserving. Is that right?
I graduated college three months before the 2008 financial crisis. This self-aggrandizing bullshit sounds *very* familiar.
Are the speakers going to be in person at your conference? Last Miami thing I went to with a big lineup was like a stage and a screen with folks zoomed in and I was like I may as well have just watched YouTube at home...
Great article, well written! I try to share this same advice with some of the youngsters I work with as their complaining.
I explain to them feel fortunate back in the seventies when I was a teenager my pops was paying 12 percent on his mortgage, refinancing every year.
But I was collecting 6percent in my savings account from my dishwashing job cause back then at 16 if you wanted things you got a job! ( mom & pops words) No hand outs no free rides. You got a $2 a week allowance for cutting the grass and taking out the trash.
We’ll be lucky if this over in a few months, but I like your positive attitude; there’s still lots of money to be made stand strong.
Dude. This is so perfect it makes me want to scream it from the mountain tops where i live. The economy and our society is dynamic. One of the unassailable truths I've seen over time is that when the emotion and bets are massively going in one direction, the tide is likely already turning. We may not quite be there yet as the public reaction to investing, jobs, the economy, etc. is still pretty mixed. The little pop we've seen in crypto prices and the major stock indices reflects this. It's likely these are just a small bounce and more pain is to come before we truly start to rebound. But when all seems lost and negative and so many have abandoned hope, you can bet things have begun to turn around. Loved this post.
This is good article. “Grow. Grow. Grow. No matter the cost — you must grow.” This line really nailed it. I come from the AV vehicle industry in Silicon Valley at both large firms and a startup, and I have learned first hand how dangerous that push for growth can be. Real products take time to build and develop, and will be validated with customers and revenue. Unfortunately, VCs seem to measure success in headcount and office space. The artificial growth is designed to bring in the next series funding round and new VC firm to payoff the first guys. It’s very reminiscent of a Ponzi scheme.
That free money got to people’s heads and they grew thinking more money was the answer. We’ll continue to see consolidation and the shutting of doors across the technology industry if the Fed keeps these rates for a while. This is on top of the big tech layoffs which you correctly mention are only happing because of over-hiring during easy mode.
So well put. This generation, maybe through no fault of their own, has a different definition of struggle than we had. Those of us who lived through the recessions of the early 80s, 2001, 2008 know that hard times can come and extend longer than you think.
Needs to be bad times for more than a few months to create the affect you talk about. I agree whole heartedly. Having been through the 90’s .com burst, 2008 recession, and COVID; we need a few years of hard times to create the resilience. Wish it could be faster. “Hard choices, easy life. Easy choices, hard life.”
So the young-20-somethings who found a way to thrive in the pandemic's "easy mode" (lol) are bad, but the FOUNDERS who have enough of other people's money to wait out [checks notes] a few more months of HARD MODE are good and righteous and deserving. Is that right?
I graduated college three months before the 2008 financial crisis. This self-aggrandizing bullshit sounds *very* familiar.
Feeling this Hard Mode. 💪👍
Are the speakers going to be in person at your conference? Last Miami thing I went to with a big lineup was like a stage and a screen with folks zoomed in and I was like I may as well have just watched YouTube at home...
Great article, well written! I try to share this same advice with some of the youngsters I work with as their complaining.
I explain to them feel fortunate back in the seventies when I was a teenager my pops was paying 12 percent on his mortgage, refinancing every year.
But I was collecting 6percent in my savings account from my dishwashing job cause back then at 16 if you wanted things you got a job! ( mom & pops words) No hand outs no free rides. You got a $2 a week allowance for cutting the grass and taking out the trash.
We’ll be lucky if this over in a few months, but I like your positive attitude; there’s still lots of money to be made stand strong.
Dude. This is so perfect it makes me want to scream it from the mountain tops where i live. The economy and our society is dynamic. One of the unassailable truths I've seen over time is that when the emotion and bets are massively going in one direction, the tide is likely already turning. We may not quite be there yet as the public reaction to investing, jobs, the economy, etc. is still pretty mixed. The little pop we've seen in crypto prices and the major stock indices reflects this. It's likely these are just a small bounce and more pain is to come before we truly start to rebound. But when all seems lost and negative and so many have abandoned hope, you can bet things have begun to turn around. Loved this post.
This is good article. “Grow. Grow. Grow. No matter the cost — you must grow.” This line really nailed it. I come from the AV vehicle industry in Silicon Valley at both large firms and a startup, and I have learned first hand how dangerous that push for growth can be. Real products take time to build and develop, and will be validated with customers and revenue. Unfortunately, VCs seem to measure success in headcount and office space. The artificial growth is designed to bring in the next series funding round and new VC firm to payoff the first guys. It’s very reminiscent of a Ponzi scheme.
That free money got to people’s heads and they grew thinking more money was the answer. We’ll continue to see consolidation and the shutting of doors across the technology industry if the Fed keeps these rates for a while. This is on top of the big tech layoffs which you correctly mention are only happing because of over-hiring during easy mode.
So well put. This generation, maybe through no fault of their own, has a different definition of struggle than we had. Those of us who lived through the recessions of the early 80s, 2001, 2008 know that hard times can come and extend longer than you think.
✔️👏👏👏
Keep the wise words coming, Pomp!
👏👏👏