We Were All Going to Space

In the Summer of 2020, we were locked down and yet enjoying the full zest of markets — all provided by Federal governments in their attempts to avoid collapse. They printed more than ever, and since we were bored and some of us scared, we didn’t say a word in protest. Why should we? Stocks had risen and the advent of the SPAC was upon us, an asset class that had tried and failed innumerable times throughout history — but this time was different because they were led by quasi famous people who had lots of money and prior success. We bathed in their splendor and then took upon new people on Twitter, or Reddit, who also enjoyed wanton success. We were going to be those people too.

And then we were all going to space. Virgin Galactic, Space X, and Blue Origin were a few of many space companies that were going to extend the inquisitive reach of people out into the heavens, creating endless opportunities for humans and exploring the wonders we’ve always seen in movies.

SPCE

I recall very vividly wording some things out loud, along the lines of “maybe they just need to get people out of the way? Maybe we as a global society are on the way to reach new levels of innovation which was unthinkable 20 years ago and maybe things are about to get very very good.”

That was the top, February 2021 when things crested and the Chamaths of the world slipped by the way side back into their sewer holes leaving the rest of us without gurus to fend for ourselves. It was the best of times, trading at night long past the market’s close because rippers were on the move and we could not afford not to partake. There was a period of time when I’d wake up at 4am just to sell an array of rippers up 30%+, go back to sleep, and start the process all over again in the regular session. It was impossible to lose money and gains of 10% daily were very common. It felt good because it was good. The people who were left behind and angry at the world for entering a paradigm shift were relics, to be mocked and quarantined.

I’ve been down this road before, got my series 7 license in 1997 and traded through all of the crashes and the booms and the crashes again. I even wrote two short books about it. It always feels different — because humans want to be lied to. It’s not that we purposely want to be deceived per se, but we willingly acquiesce to fallacy over reason and logic in favor of ideals. We want and need purpose and sometimes it comes in the form of a lotto ticket, NFT, crypto, trip to the racetrack or casino. We believe, a least some of us do, that becoming extraordinarily wealthy is the answer to happiness, when in fact it’s not; but the glamor of it all is enough to risk freedoms and families and everything that is truly sacred because, in the end, we are all going to die.

So as we race against time chasing down our dreams just beyond our reach, fallacies are revealed and the truth always renders itself to be obstinate. Here we are in the throes of crisis again, stocks beclowned and traders in ruins. The shiny veneer of innovation and paradigm shifts now look like childish dreams of an overstimulated teenager, but that’s only because the adrenaline and dopamine have stopped pumping into our brains and the dark and sinister nature of some people are laid bare once again — shattering the future we were supposed to have.

 

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