The conventional wisdom is that it's impossible to sell anything during challenging times, but with a good deal, it's possible to sell almost anything. Cryptocurrency sales can defy conventional wisdom and create outlier outcomes.
Hoppin experienced a surge in demand during the COVID-19 pandemic, resulting in the company's valuation soaring to $5 billion. However, with demand decreasing, the company has laid off a significant number of its workforce.
Discussing the effectiveness of strategies such as working harder or spending more money when a business is facing decline, and whether it can successfully counterbalance increasing competition and fixed costs.
The concept of fake it till you make it is often used in business practices where you represent your strength when things are fuzzy or uncertain. It is important to find the line between fake it till you make it, and fraud.
The speaker argues that it's a good time to invest in businesses because market conditions will likely improve in the next seven to 10 years, even though current market cycles may seem uncertain or unfavorable.