
Doug Sleeter
3.1K posts

Doug Sleeter
@DougSleeter
Accounting Software expert, #blockchain futurist. CPA Practice Advisor Hall of Fame



















Happening this morning in my town of Las Vegas, several Tesla vehicles engulfed in flames! This is horrific and evil, it must stop immediately!!!!









I have used the analogy "Flash floods can destroy existing ponds, leaving less water after the flood recedes". This is the structural damage caused by flash floods. Financial bubbles (floods) are similar and they can have far ranging effects. When money pours into an industry too rapidly, it sucks resources, and can leave us with fewer capabilities than before, in other critical sectors that get neglected during the flood of money. There is a reason Intel needs help from TSMC now - for at least a generation now, the smartest talent in silicon valley did not go into fabs. No investor would touch that sector because no big exits. This is why financial bubbles are so damaging. And the longer a bubble lasts, the more structural (and cultural) damage it inflicts to more sectors. In the Indian context, the IT industry sucked all the oxygen for a long time, leading to impairment and neglect of capabilities in numerous other critical industries. We have to make up for lost time.














