Searching for black swans
(upgradingcapitalism.substack.com)
I received my initiation into the flaws of capitalism in September of 2000. In July of that year, our Silicon Valley software company went public, raising $60 million on NASDAQ. In August, I turned 30 and experienced my second full burnout. And in September, the market crashed, taking our company’s valuation down with it. In the space of a month, we went from a $400 million market cap to less than 10% of that.
I received my initiation into the flaws of capitalism in September of 2000. In July of that year, our Silicon Valley software company went public, raising $60 million on NASDAQ. In August, I turned 30 and experienced my second full burnout. And in September, the market crashed, taking our company’s valuation down with it. In the space of a month, we went from a $400 million market cap to less than 10% of that.