Lessons Learnt from Warren Buffet
I've never really had the pleasure of dining with one of the planet's richest people, and I really doubt that I will ever.... however, I have picked up some interesting life lessons from the man that is known as the "Oracle of Omaha". This man (the 4th richest in the world) is a model and a idol to many people and despite Warren Buffet's aversion to cryptocurrencies, his ideas and philosophies also attract people who are interested in the new asset classes.
Integrity
This was something that I had read about quite some time ago... that the most valued trait that Buffet sees in people that surround him is the trait of "integrity". It is an interesting choice, as it isn't necessarily a trait that has a financial value... in fact, this (the lack of an immediate financial gain) is a topic that will keep coming back in this article! The idea that pretty every other skill can be learnt or taught but there are some that are inherent in a person's character is a pretty strong concept.
The knowledge and the bravery to stand up and say when things are not quite right... and refuse to take part is something that is inherent in most people. However, it can easily overridden in the pursuit of material goals or the idea of "winning".... and then justified away later. With integrity comes the acknowledgement that all actions have consequences (intended and otherwise...), and the duty to own the consequences.
Surrounding yourself with people of integrity helps keep everyone on the right and moral path. It dissuades members of the team from chasing short term profits and wins at the cost of reputation. These things are not values that can be measured in monetary terms... but in the end, they are worth a great deal more! After all, if you surround yourself with yes-men and sharks... you will find that in the end, they are loyal to your coin and not to your vision or self!
Humbleness
Some people are generous... and don't need make a splash about it. After all, the act of giving and supporting shouldn't become a marketing exercise! However, in this day and age of social media... it is much more important to LOOK like you are caring and giving... being seen to give a few hundred units of cryptocurrency is important to some people, and if you are aren't noticed... then perhaps you need to do it again, but shout louder!
However, doing this time after time... well, people start to lose trust and respect... and again, these are things that don't have immediate financial meaning, but when people suspect an ulterior and selfish motive for everything that you do... well, it does start to have a material impact as well! Again, this sort of thing will only deter people with a sense and value in these sorts of things... however, surrounding yourself with sharks means that at the slightest sense of weakness, you will find yourself beset with ex-"friends"!
There is a reason that you don't see Buffet in the news very much (directly... people write about him all the time...).... he is the sort of person that just gets stuff done, whether that is philanthropy or business related. There is no need to waste energy telling people how much was done... you know the type, quiet and just fix/do things.... as opposed to the peacocks who exaggerate every little contribution!
The Long View
If there is anything that has characterised the business dealings of Warren Buffet... it is the idea of the long-view. The epic energy that is spent chasing short term gains and running around to stay still... this isn't his business philosophy. It is something that could be learnt in the cryptosphere in general. Projects (and Rome...) weren't built overnight...
Everyone talks about missing the Bitcoin boat... but no one talks about all the currency replacement projects that were concurrent with Bitcoin. Liberty Coin? BitGold? B-Money? Hashcash? You always remember the prize that you missed, but not the bullet that you dodged... that is the way it is with us all!
Think about the crazy drivers that weave in and out of traffic, causing chaos behind them (making everyone fit in with them and brake....).. they don't care about the amount of energy that they expend and the chaos they make for others, just focused on that short term goal to get one car ahead... to be stopped by the traffic light at the SAME time as everyone else!
The long-term view is one where you pick a long and wise position... not jumping at every fad and interesting shiny in the hope that you can make a quick ROI... it is a rare trait in the cryptocurrency ecosystem (although there are people that have that view... just that they also tend to have the quiet trait as well!).
Conclusion
The short term, get rich quick and profit (aka ROI) at all costs worldviews of many people in the cryptocurrency space is quite at odds with a sustainable, stable and thriving ecosystem. Unfortunately, it appears that some people don't really have that view in mind... and will spend millions of dollars to try and glean words of wisdom from the Oracle of Omaha.
However, it is quite telling when Warren Buffet donates the "gifts" that were offered to him... perhaps he didn't see a kindred sprit!
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