All good advice.
But all is not lost if you violate those rules, if you know when your time is up, act quickly preserving your capital by not letting your ego cause you to try to remedy the loss. Have an investment strategy for your capital which allows it to grow, while you prepare for your next act.
I was a computer to computing networking pioneer, and was responsible for developing and managing networking products at DEC. I was there from the time when Gordon Bell allowed innovative technical people to make their cases for new products, and left when it acquired people with a bureaucratic mindset from failed computer companies to stifle creativity,
A six year period when refugees from Honeywell, RCA, and Univac changed the culture.
There is no company I worked for which is still in existence today. Sometimes it troubles me, mostly it doesn’t.
Worked for big public companies, startups funded by venture, closely held private companies, divisions of Fortune 100 and 200 companies. Companies die. Consulted for companies in a variety if industries.
One of my companies was totally dependent on one customer. Not just sales to them, but their international sales force sold our products for us to their customers. We provided functionality their products needed, we documented our products so that their customers could install them or themselves or have the systems engineers of our benefactor install them. Eventually, their own problems undermined the relationship. They no longer exist after having been acquired twice.
We had some very good years, running a two person, $2 million company in the 80s, but all good things must pass …
Just last week, I had our new car in the body shop. Somehow the manager and I got to talking. He had worked for Cabletron. You might remember their Token Ring Products. After they died, thanks to Ethernet, he decided he would not move to the West Coast to stay in networking. Or his wife decided.
Life was very different in those days, Burnout among tech people was common. My moves from developer to manager to product planner to marketeer to consultant were easy, I could never have made all of those roles.
I ran marketing for a time for Telenet, which was the first commercial company selling Arpanet Technology based networks, Even AOL ran on our public network.
It is so strange looking at some of today’s events. Say whatever you want about Elon Musk. He knows what it takes to solve problems, and does not mind who he po’s doing it.
He knew that Tesla’s success would rely on having quality software developers. Electric cars are easy to build, controlling them is not.
He knows that quality software talent is not identifiable based on credentials or degrees. Those young developers he finds work their butts off and he picks the ones with intuition.
I have no clue what his IQ is but I went to a high school where there were just under 700 students in my class and the lowest IQ was 130. I knew many geniuses, but not all thrived.
The right talent for the job is what matters. Bezos is no technical genius, but the care and feeding of venture capitalists and Wall Street powers was second to none. And MBAs and other bean counters come cheap.
The hatred of Amazon is the hatred on depersonalized manage by the numbers. It really is not politcal. And managing by the numbers is what it takes to get big today.
Well, I have been off on a tangent. Fortunately, it is not political.