Covid 19 has changed the world, accelerated tech adoption, made things possible we didn’t think was possible. Fastest vaccine development ever! But what were our biggest lessons from this? Thankfully as covid subsides we should all ponder on its important question.
But as explained in the below passage from Morgan Housely, we would be better off taking a 30k foot view than selecting the first specific thing that comes to mind.
A good lesson from the dot-com bust was the perils of overconfidence. But the lesson most people took away was “the stock market becomes overvalued when it trades at a P/E ratio over 30.” It was hyperspecific, so many of the same investors who lost their shirts in 2002 got up and walked straight into the housing bubble, where they lost again.
The most important lessons from a big event are usually the broad, 30,000-foot takeaways. They’re more likely to apply to the next iteration of crisis.