Even with this knowledge base I failed to pay attention to what I knew was a deep systematic fissure in the financial markets signaled by the fall of Bear Stearns. I was focused on user acquisition, growth and resolving litigation as opposed to revenue, a mistake when the Black Swan appears.
He's not claiming to have the ability to time markets perfectly. He had enough experience where he might have some awareness of the bigger economic and financial picture. He's saying that even people in the financial industry were caught off guard, especially investing professionals who are key to keeping startups funded.
I found this context to be the most interesting part in addition to the role of how companies behaved in an oligopolistic way.
It could also be taken as an argument for greater financial transparency, or recognizing that the stability of the financial sector is another risk to startups and innovation.
I found this context to be the most interesting part in addition to the role of how companies behaved in an oligopolistic way.
It could also be taken as an argument for greater financial transparency, or recognizing that the stability of the financial sector is another risk to startups and innovation.