A Quote by Steve Case
There are lots of cycles to markets - boom and bust - and also in perceptions of people. The conventional wisdom of Steve Case as genius or fool was highly cyclical. The truth was always in the middle.
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All markets have boom and bust cycles, and I think venture capital market has even more exaggerated boom and bust cycles.
'The Victorian Internet' is a must read for anyone interested in the history of technology and in the cycles of hype, boom, and bust that seem to only quicken with each new wave of innovation. Highly recommended.
Boom and bust cycles are very difficult for businesses because you're hiring a bunch because you're planning for the future. And if the future is going to be very big, you need to hire people, or suddenly you go to boom to bust, then all of a sudden, you're kind of battening down the hatches and trying to sail, you know, through the storm, it's a different thing. So part of it is making good decisions about, well, how long is a boom cycle going to be, you know, don't plan on it going forever.
We create these boom-bust cycles by manipulating the money supply and the interest rates and directing it where it went in. And that is what happened with housing: pushed into housing combination of easy money plus all the regulations, and we created this boom-bust cycle, and corruption, because corruption goes with it, because you don't have the same discipline. So we've got to stop all that.
In falling markets, there is nothing that has not happened before. The bear or pessimist sees only the past, which imprisons the wretched financial soul in eternal circles of boom and bust and boom again.
Latin Americans are all too familiar with the boom and bust cycles associated with economic populism.
In certain circumstances, financial markets can affect the so-called fundamentals which they are supposed to reflect. When that happens, markets enter into a state of dynamic disequilibrium and behave quite differently from what would be considered normal by the theory of efficient markets. Such boom/bust sequences do not arise very often, but when they do, they can be very disruptive, exactly because they affect the fundamentals of the economy.
As I discovered, there is a great deal of similarity between a boom-bust process in the financial markets and the rise and fall of the Soviet system.
If we are going to have a Fed, it should not fall into the tyranny of experts with the a fatal conceit that a few wise people can determine interest rates. Interest rates should be driven by the market, and people's time preference, and we see these boom-bust cycles.
The 20th Century approach to economics, resource depletion and over-consumption means we boom and bust until we bust more than we boom; that is precisely what is happening. In a low growth economy, the true meaning of resource efficiency in business and in everything we do is essential
If you are the kind of person who listens to conservative advice, you may do okay in life, but you probably won't ever be a fantastic leader. You have to take risks, and you also have to go against conventional wisdom, because conventional wisdom doesn't make for startling advances in society.
I wonder, sometimes, whether men and women in fact are capable of learning from history--whether we progress from one stage to the next in an upward course or whether we just ride the cycles of boom and bust, war and peace, ascent and decline.
Conventional wisdom is no wisdom at all. Conventional wisdom is taking somebody else's word for the way things are It's the followers of this world who rely on assumption. Not the leaders.
Conventional wisdom is invariably out of date. Because in the time it has taken to become conventional - to become what everyone believes - the world has moved on. Conventional wisdom is a remnant of the past.
When we say we have patterns, there is a cyclical movement to everything. Our psychological and emotional processes also have become cyclical largely because of a very strong attachment and involvement with physical process, and physical process has to be cyclical; only then we exist. Without out cyclical movement there'll be no physical existence.
There are lots of people who believe there may be at least some genetic component to procrastination, and even if there isn't, it seems to be the case that procrastination habits are often set relatively early in life (that's certainly the case with me). But I also think that there's lots of evidence that external tools can help quite a bit in getting people to stop procrastinating.
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