AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
3min snip
Sahil Bloom: Left Private Equity To Make Millions As A Content Creator And 3 Profitable Businesses To Start Now
My First Million
Staying Calm in Market Fluctuations and the Dilemma of Persistence vs Pivoting
Navigating market fluctuations involves understanding the distinction between being a 'local' and a 'tourist.' Locals exhibit patience and awareness of seasonal changes, while tourists may panic and quickly abandon their positions. A crucial challenge is avoiding the transition from 'local' to 'stubborn local,' who ignores evident changes and continues to resist adaptation. Founders often face conflicting advice: to persist with determination or pivot based on data-driven insights. The key lies in evaluating whether one's persistence is justified by fundamental beliefs about the business or investment. This requires critical self-reflection on whether existing convictions remain valid in light of new information. In investment contexts, understanding when to double down or reevaluate positions is paramount, especially during downturns, as seen with stocks like Facebook. Progress hinges on adaptability and the willingness to accept being wrong if necessary.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode