A Quote by Tobias Lutke
When the market turns down, a lot of people lose jobs... and that's the time people become entrepreneurs. Downturns end up being the best times to start companies.
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One reason why upturns follow downturns is that downturns tend to overshoot. People get panicky, they're afraid to stay the course, so they start selling. The other thing is that I think, as entrepreneurs keep on waiting to produce new things, that there's an accumulation of as-yet-unexploited new ideas that keeps mounting up.
A lot of times, people start out with a lot of good ideas, but then they don't execute. They lose the purity of their vision. You end up running around in circles.
A lot of times people start out with a lot of good ideas, but then they don't execute. They lose the purity of their vision. You end up running around in circles.
I'll also make sure that America has trade relations with China that work for us. I've watched year in and year out as companies have shut down and people have lost their jobs because China has not played by the same rules, in part by holding down artificially the value of their currency. It holds down the prices of their goods. It means our goods aren't as competitive and we lose jobs. That's got to end.
I think a lot of times there is a tendency in Washington to make rules because of something that was adverse or fraud or something like that. And we make a lot of rules and end up hurting a lot of innocent people that are trying to start up their companies.
As a bull market turns into a bear market, the new pros turn into optimists, hoping and praying the bear market will become a bull and save them. But as the market remains bearish, the optimists become pessimists, quit the profession, and return to their day jobs. This is when the real professional investors re-enter the market.
When people lose their jobs, they can either get another job or be entrepreneurs. In the music industry, a lot of people have attempted the latter by starting their own labels, but in the age of digital downloads, it's very difficult to succeed.
The best way we can encourage people to create companies that create jobs is to celebrate the diverse entrepreneurial stories and the variety of drivers that led these entrepreneurs to sticking their necks out.
People thought they were going to make a lot of money. And then at one point, it got too hot, and the government wanted to knock it down. Trying to get it up and then knock it down, both were a mistake. And part of the reason, some people think, is that they wanted to equitize some of their companies. A healthy stock market helps equitize companies and reduce the country's debt burden.
The best things in life aren't easy. My career kind of sums that up. From the start of it to the end of it, there were a lot of twists and turns, a lot of different adversities. Having overcome those, it makes you stronger.
Downturns are the best time to start businesses because you develop discipline that's very lean and mean in terms of how to spend money. And those habits serve you very well in good times.
Companies lose some of their best employees when people are beaten down; then they overpromote junior people because they can't persuade outsiders to sign on.
We are talking about capital-intensive enterprises, so market certainty is the key. Investors and entrepreneurs have to know that there will be a guaranteed U.S. renewable energy market in which they can compete. Otherwise, they will create the next generation of green companies and green jobs in Asia, not here.
History has proven time and again that downturns are the best time to invest in new start-ups. You get good deals and find a better environment for start-ups to grow.
I'm not a communist - I believe in the free market and that entrepreneurs should be allowed to take risks because it creates wealth and jobs, but I draw the line at people risking other people's money. That's deplorable.
My best friend Jerry started a boat-washing business, and it was one of the most critical experiences of my life. I got to meet a lot of people who were entrepreneurs. My parents were schoolteachers, and I was now meeting people who owned companies. I realized that if this guy can do it, why can't I?
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