TOUGH LOVE | REALISM OF RISK | BOARDS and SHAREHOLDERS who appoint C-level executives note this: In the equity investment FOMO (Fear of Missing Out) rush to transform industry verticals with Blockchain solutions, a vast number of appointments has been made.
I am going to predict that many of these appointments are going to be ill fated. I am going to predict that some of you will lose fortunes.
Unless you start paying attention to the REALISM of the downside, there will be no upside for some of you.
This is like a doctor (advisor) saying to the patient (chairpersons of a Blockchain innovation or Cryptocurrency company), YOU'RE MORBIDLY OBESE. YOU ARE GOING TO PERISH.
Either change your (governance) habits and (leadership) behaviours, or you may expose yourself to the very real risk of a shortened (business) life.
That's tough love. Get over it. By building a knowledge equity bridge.
Yesterday, we learned that BITTREX didn't listen.
LEARN WHAT HAPPENED:
Bittrex are about to pay the price for not paying attention to the most valuable asset of any financial technology organisation:
We lose trust when leaders are belligerent about systemic failures across the development of the Blockchain and Cryptocurrency industry, within the incapacity to mitigate organised financial crime.
Let me be clearer, that for some of you, many of your people are already responsible for massive consumer losses and the consequence of this is LOSS OF TRUST and LOSS OF VALUE.
OPTIMISM causes BLINDNESS.
REALISM is INSIGHT.
Just yesterday I shared a CHAINALYSIS POST that October is the highest level of Blockchain and Cryptocurrency fraud on record.
I learned a lesson about REALISM while being mentored by Mike Rich, who successfully built a leading FinTech company over 35 years, then sold it.
I am proud to have been one of the people mentored by Mike, who delivered value. Thankful for how Mike coached me.
In the early days of serving Mike's investment, I meant well and thought I was being realistic.
Mike called this BLIND OPTIMISM.
Already successful manager, who had an early peak at age 23, defeating a Japanese commercial giant in taken territory. With many successes since.
Yet Mike taught me to become REALISTIC.
To beginners, REALISM appears as PESSIMISSM.
Mike didn't protect me, but let iron sharpen iron.
The best ideas (and people) had to fight for the right to be enacted based on their inherent value. Prove they could scale at profit.
Critical failure testing of the downside.
If you enter business and lose money, because you did not mitigate the circumstances that were clearly present all around you, then you deserve to fail and you have earned your loss.
You cannot afford to be cavalier in these times.
Leaders may be endangering your value.
LEARN TO SEE THE SIGNS BY REALISM.
SEEK INDEPENDENT ADVICE ALWAYS.
GLYN MACLEAN is founder of BLOCKCHAIN DOWNUNDER developing solutions to restore trust to Blockchain and Cryptocurrency and founder of THE DARK NIGHT ONLINE pioneering blockchain investigation for cryptocurrency recovery since May 2016.