Matthew Giampetroni
@matthewgiampetroni
Matthew Giampetroni
@matthewgiampetroni
You can’t charge a premium price for giving people what they expect, and you won’t ever have break-out products that way—the kinds of products that people line up around the block for.
Your primary objective should thus be to maintain the right filters for people and ideas so that the delicate ecosystem in your head is as resilient and flexible as possible
markets—these sublime machines that synthesize beliefs and aggregate them into prices—instantiate a secularized version of the sacred
“What is the right amount of capital (and the right number of people) to have in this business in order to support the strategy that will create the most wealth?”182 The answer is based on the future and does not rule out reducing net investment when appropriate.
As the bubble grows in scope, the contradiction becomes more visible, leading to a third common characteristic of bubbles: the bifurcation of viewpoints into totally-
positive or totally-negative