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We've had one of these before, when the dot-com bubble burst. what i told our company was that we were just going to invest our way through the downturn, that we weren't going to lay off people, that we'd taken a tremendous amount of effort to get them into apple in the first place; the last thing we were going to do is lay them off.

-Steve Jobs

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We've Had One Of These Before, When

Steve Jobs

We've had one of these before, when the dot-com bubble burst. what i told our company was that we were just going to invest our way through the downturn, that we weren't going to lay off people, that we'd taken a tremendous amount of effort to get them into apple in the first place; the last thing we were going to do is lay them off.

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    <p style="font-size: 1.2rem; font-style: italic; margin-bottom: 10px;">"we&amp;#039;ve had one of these before, when the dot-com bubble burst. what i told our company was that we were just going to invest our way through the downturn, that we weren&amp;#039;t going to lay off people, that we&amp;#039;d taken a tremendous amount of effort to get them into apple in the first place; the last thing we were going to do is lay them off."</p>
    <footer style="font-size: 1rem; font-weight: bold;">— Steve Jobs</footer>
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I've not won different awards - many, many times - so luckily i've practiced that whenever you are nominated for anything, you enter into this marvelous, fantabulous bubble called the bubble of nomination. the minute the envelope is opened and your name isn't called out, the bubble bursts. and no one calls you up the next day to say, 'so sorry you didn't win,' or 'you looked gorgeous - nothing. if you win, you get about another 24 hours in that lovely bubble and then - pop - you are slightly wet all over from the bubble and realize that you have to get on with real life.

I've always believed that a speculative bubble need not lead to a recession, as long as interest rates are cut quickly enough to stimulate alternative investments. but i had to face the fact that speculative bubbles usually are followed by recessions. my excuse has been that this was because the policy makers moved too slowly - that central banks were typically too slow to cut interest rates in the face of a burst bubble, giving the downturn time to build up a lot of momentum.

In a glass of cider it seemed i was a mite of sediment that waited for the bottom to ferment so i could catch a bubble in ascent. i rode up on one till the bubble burst, and when that left me to sink back reversed i was no worse off than i was at first. i'd catch another bubble if i waited. the thing was to get now and then elated.

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