May 09, 2006
Believing your own "shit" can cost you.
I think though he has a limit to it and that is how he kept his fortune when he sold to Yahoo. Now he just believes his own shit in a diversified fashion.
So I guess you can believe your own shit - just have more than one shit in the works!
I was reading this Wall Street Jornal article about George Gilder who rode the tech boom up and rode it back down - in style!
I love this quote from George - "The trouble with my business is that everyone came in at the peak," Mr. Gilder said in a recent interview. "The typical Gilder subscriber lost all his money and that made it very hard for me to market the newsletter."
George - THE TROUBLE IS THAT YOU DID NOT RECOGNIZE THAT EVERY RETARD CAME IN AT THE PEAK. It's fun for me to call guys like this a putz, but that is a rather simplistic analysis. He is an epic putz - in denial! He had no risk management controls. Like - "what if..."
The shame about George Gilder is - if you can get others to believe your own shit and get Wall Street and the media to do all your dirty distribution of your shit - YOU DON"T NEED TO BELIEVE YOUR OWN SHIT.
So that just makes him a stupid asshole?
And tech guys believing their own shit is a recurring phenomenon. I remember Wang, Gateway and now probably silicon graphics founders who ended up poor because all their wealth was in their company. I believe Larry Ellison's accountant is always hassling him to invest in something other than Oracle.
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