The “high” Wednesday will be -10. ☃️☃️
“Crypto Winter” is such a trite cliche I’ve sworn off its usage, but with this photo as a backdrop I’ll trot it out just this once.
Yes, we’re in a bear market. Yes, bear markets end. Yes, it’s possible this one won’t end due to the peculiar nature of the ecosystem itself. Some companies die; some industries die. How’s the typewriter business these days. Anyone still make faxes. I miss my old Pogo Stick.
Yet some businesses & industries encounter existential crises & endure. It’s also a cliche in the early 2000s Amazon slid 95% from its all-time high. Mr. Bezos sold 20% of his equity to fund his company for a million dollars. That worked out OK for believers.
Of course this is “different” – tech always is. Once IBM was hip; Microsoft; Amazon; Google, Facebook, then Bitcoin. The only thing we can safely be assured of is this: the Next Big Thing is being built right now. Maybe it’s already in front of us; maybe it’s tucked away neatly in someone’s garage or dorm room. It exists or will someday. Change is inevitable & Moore’s Law suggests the rate of change will come much faster than before.
They’ll be playing baseball at Wrigley Field – Home of 2016 World Champions – before you know it.