via Andy Grove’s, Only The Paranoid Survive:
The person who is the star of previous era is often the last one to adapt to change, the last one to yield to logic of a strategic inflection point and tends to fall harder than most.
Jamie Dimon has been making the rounds dishing anything but love for cryptocurrency and bitcoin at large. His comments, for those who believe, are ignorant and naive.
But, for those who still struggle with the idea that bitcoin and the more important underlying technology of blockchain are here to stay, they are going to be (unsurprisingly) surprised when it all comes to pass.
Here’s the thing… I see Jamie Dimon and JPMorgan as the “stars of a previous era” and they are following the playbook of many that have come before the to the “t”. Consequently, they will be the hardest to fall.
As smart as he may be and the team around them, it’s ego and pride that will get in their way and become a significant stumbling block for survival. The folks in the system and those who count on that system will be losers as well.
Only the paranoid survive and the paranoid necessarily do not dismiss any new data without at least an educated survey and investigation. Jamie has not done this and neither has much of his organization.
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