So it's no surprise that 2008 will go down as a major crap sandwich. The year will be remembered for its failed companies (starting with Bear Stearns and Lehman Bros), its failed government agencies (SEC, EPA, Federal Reserve), bailouts and FAILouts, jew on jew violence lead by Madoff and the untimely death of Tim Russert.
Many of my friends lost more money in 2008 than most will ever make in their lifetime. NYC will feel the effects of 2008 for years. While my losses were contained, I didn't escape unharmed by the meltdown. I am fortunate to have great advisors who, above all else, are among the most trustworthy people I know (my stepfather and my brother, who together run a boutique investment advisory service in DC).
Have no doubt, 2009 will see continued carnage. Businesses will continue to fail, lead by local and national retailers. (I'd argue that many of these businesses were already made extinct by the internet. The global environment has just accelerated their demise).
Despite this global meltdown, rising unemployment and continuous stream of bad news, I am looking forward to 2009 and beyond.
As I've been telling Kass for the last 11 years, I feel like the luckiest man in the world. I have an awesome wife who supports me, challenges me and makes my life so much better in so many ways. Those of you who are close friends, colleagues and coworkers, you know that our relationship is not without disagreements. As my grandfather used to say, any two grown, thinking people living in close quarters will have arguments. You just try never to go to bed angry or mad.
Our kids are turning out to be really interesting, nice and curious people. Myles is enthralled by music and has shown interest in chess, math and Wii. Cole has the clearest memory of anyone I know. Just watch him play the memory game. And Vivi is as sweet as they come. She is cuddly, inquisitive and loves to be included as a member of the team.
And I'm extremely lucky to do what I do (and to have raised money when I did for the business!!!!) For a year-old company, business couldn't be better. I'm not saying that Buddy Media doesn't have its challenges. Like all young companies, we do and need to continue to execute to remain in business during our toddler years so we can thrive in the future. But we have great employees, awesome clients and are operating in the wide-open sea of social networking.
As the year comes to an end, I'm reminded of two very different pieces of media - Deadwood, which I'm watching with Kass right now, and Randy Pausch's The Last Lecture.
The first tells the story of the american entrepreneurial spirit. Even amidst the most harsh environment, we as a people are able to survive and create the businesses and communities needed to thrive. It's not always pretty, but we get it done. And the next wave of businesses started nationwide will be stronger, more focused, less leveraged and more customer focused. This spirit will save our country.
The second is ruminations from a dying man that shows us how to live. Pausch, given a few months to live after being diagnosed with pancreatic cancer, delivered his lecture in Sept. 2007, titled "Really Achieving Your Childhood Dreams." In front of 450 Carnegie Mellon students and faculty, Pausch outlined how he tried to achieve his childhood dreams, and, just as importantly, became a professor to enable the dreams of others. It's an inspiration that shows how we can think clearly and positively and optimistically during the most challenging and dark times.
The global crises does affect many things in our lives. But it doesn't affect what's most important. We all may have lighter pockets. We may not have a job right now. We may not be able to get the loan we need to buy a new home or apartment. But we all have much to feel lucky about. And for me, it's my health, despite a bad heart and artificial heart valve. It's Kass and the kids, my large extended family, my friends, my awesome colleagues and partners who work at or with Buddy Media and my drive to continue to do the work I love.
Instead of complaining or worrying about what you can't control, take a step forward and do something that you can control. Tell your spouse you love him or her and give them what they need. Put down the BlackBerry and iPhone. Be present. If that's hard for you, start with a moment. Then an hour. Then a day and then make it a habit. Start a company. Start a blog. Visit an old friend who you're now connected with via the wonders of Facebook. And be thankful for all you have.
(Sorry for the lack of links. Will add later. Writing this from my phone).
