Thinking about banking, finance, the web and innovation in general at the moment and came across this rather fine explanatioin of the credit crisis from Jonathan Jarvis, an artist. If you’ve got ten minutes and want for once and for all to understand how we got into this mess, then have a watch…
It’s funny how, like me, people have to caveat finding things to be optimistic about in 2009 with phrases like “I’m not being Pollyanna-ish”.
Saying that the Great Disruption may bring good, or at least a lot of opportunities for good things to start, and somehow you feel it’s 1997 and you’re explaining to a roomful of disapproval that no you don’t feel the need to offer a floral tribute or stay in and watch Diana’s funeral procession.
Yet here’s a VC (Peter Rip) saying some sensible things about the downturn:
As the fire continues to rage in financial markets, it is hard to imagine when Opportunity will reappear. But the truth is when everyone sees Opportunity; they are only seeing the reflection. True Opportunity appears at the market bottom, not at the top. It’s times like these that test what you believe in, and I believe in the Business Cycle, Human Creativity, and the stimulative effect of massive Government spending. 2009 and 2010 will be great times to invest to reap the benefits in 2012-2014, for those who can judge both business risk and liquidity risk, and have the courage of their convictions.