When the going gets tough

When the pressure gets turned on lot of people will learn the following:

Relationships and loyalty are more powerful than a paper contract

Close knit networks and close friends will save you

What force majeure means for the first time in their professional careers

The bank always gets paid

Cash is king

The difference between professional investors and touristy investors

The difference between a friend and a LinkedIn connection

When the shit hits the fan, people go tribal and look out for themselves and their immediate family

The powers of non-linear growth, compounding and the definition of the parabolic growth curves.

Everybody is winging it, and you need to think for yourself and do the work

Revenue and income evaporate quickly but short term expenses are fixed

How much slack is in the rope after a 10-year bull run. Risk appetite grows slowly over time, and corrections happen overnight.

 

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