Fear is Good
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Gordon Gekko was wrong about what’s good. Greed isn’t good.
Fear is good.
Some notes on fear being back, and why entrepreneurs & investors should embrace it…
When there’s no fear, everything is consensus
When there’s no fear, there’s no skin in the game, because there’s no implied consequence
When there’s no fear, there’s no paranoia, an oh-so-valuable sensibility for operating…
When there’s no fear, firms don’t do due diligence, because they’re either:
Cowboying it
Outsourcing it
Unable to do DD because they’re competing with firms doing 1/2
When there’s no fear, fraud follows
When there’s no fear, there’s no courage or bravery or valor
When there’s no fear, there’s no love!
When there’s no fear, people spend hours a day on zoom not fearing that maybe they’re developing a collection of cognitive & social deficiencies or a generally nihilistic worldview
When there’s no fear, there’s no buy-in
When there’s no fear, war ensues
When there’s no fear, there are no venture returns, because there is no venture!
When there’s no fear, you’re not at the edge
When there’s no fear, there’s no truth
When there’s no fear, there are no true believers…
Fear is good!
And for investors and entrepreneurs, contrary to the euphoria of 2021, fear is now very much back.
Don’t be too scared.
But be scared enough.
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