The book - The Psychology of Money opens with a simple but profound insight.
I see this play out every day
- The interns we hired can't relate to the Y2K bug or the dot COM crash.
- When we hire someone with 1-2 years of experience, they've often not been to an office... ever!
- A child born after 2019 won't know what it was like when COVID first surfaced. Living in the confines of your home for 2 years is hard to explain to anyone.
- Saas stock owners suffered a crash in 2022, while other stocks were not as severely affected.
Until recently, I believed money in a bank was supposed to be safe. Turns out that was not true. I can tell you what a bank run feels like, but it's hard to explain it to a founder starting this year. The risk is real, and how we react to it changes based on our experience.
Put yourself through as many experiences as possible. When you can't understand someone, see the world through their lens. It helps.