What’s the bubble/cause of the next recession in your eyes?

Christiana Smith ‏ @CRS19: what’s the bubble/cause of the next recession in your eyes?


I had a different answer for this in the Q&A. I think the question is wrong. I’m not worried at all about recessions. Even in a recession, things are booming for people who are creative, open-minded, and open to abundance. I always bring up the example of Groupon. Guess when Groupon started? November, 2008. Maybe the worst month in financial history since October, 1929. Maybe even worse!

And people STILL hate Groupon’s business model despite the fact that it’s the fastest growing company in revenues in history. But guess what? Andrew Mason, the CEO of Groupon, didn’t care he started it in the middle of a recession. And he didn’t care what all the people thought of his business or still think of his business. He’s now a multi-billionaire. He’s one of the richest people on the planet.

So never think about recession. There is more cash now on the planet than ever before. Just sitting in checking accounts. There’s a lot of money out there. So think about how some of that money can be yours. Think about what service you can offer that will deliver greater value than that cash sitting in the bank.

Social media, aging baby boomers, alternative fuels, technology for extracting expensive fuel – all of these are trends that will deliver great value in the next decade. If you want to get rich, get involved.

Don’t even worry about the next recession or bubble.

Oh, here I though I had a good closing sentence but my mouth still has more to say.

“Bubble”. What’s a bubble?

Was the Internet really a bubble? Hundreds of billions in cash profits have been created because of the Internet. Hundreds of billions have been saved across the corporate world because of the efficiences to productivity that the Internet has provided. If anything, any deflationary winds in the world are fanned by the productivity enhancements caused by the internet. And I’m going to wear Google Glasses every day for the rest of my life once they sell them. I might even directly surgically implant them into my eyes.

There are no bubbles. There’s only innovation and abundance with temporary blips on the way to greater abundance. The world has gone past the bubble tipping point.