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Sure, it feels great when it's in bubble phase, which is kind of the whole point. I was in Ireland just before the last bust and all my cousins and aunts would
by benohear 16y ago
Sure, it feels great when it's in bubble phase, which is kind of the whole point.
I was in Ireland just before the last bust and all my cousins and aunts would be dispensing pearls of wisdom such as "you never lose on the housing market in Ireland", and "My house is worth 700K. I'm RICH!".
Bubbles are by definition Ponzi schemes, and when they bust someone is going to be left carrying the can. That's usually people who a) Had some money beforehand (or are now massively in debt) and b) aren't the most astute investors.
- nir 16y agoI'm not, by any means, suggesting bubbles are a good thing. I'm saying they're a fact of life in this field, so people working in startups should know how to deal with them. If you can maintain a level head in a bubble (ie, the opposite of the approach you heard in Ireland - and I often heard in Tel Aviv) you can survive it, and even gain from it. I'm talking about the startup engineer case, I don't know anything about the investor's case.