1930s Quote by Charlie Munger
“The Internet bubble circa 2000 is the most extreme in modern capitalism. In the 1930s, we had the worst depression in 600 years. Today is almost as extreme in the opposite way.”
About This Quote
Source Speech: Annual Shareholder Meeting, 2023
The 2000 dot‑com bubble was a peak of capitalism; today’s extremes are opposite, resembling a severe depression.
In simple terms: Past tech bubble was a capitalism high; now we face a deep downturn.
Key Takeaway
Recognize cyclical market extremes.
Themes
economics
history
capitalism
Mood
analytical
cautious
Type
financial
philosophical
When to use this quote
- investment
- policy making
- personal finance
- business strategy
Key Concepts
bubbles
depression
market cycles
Questions to Reflect On
- What signs indicate a new bubble?
- How can you protect against downturns?
A Different Perspective
Historical parallels may oversimplify unique factors.
![“They [Mc Donalds] take people and give them a first job, which enables them to get a second job. They do a very good job of educating troubled young people to be good citizens and they're probably more successful than charter schools.” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/a55/charlie-munger-458_be-good_they-mc-donalds-take-people-and-give-the_41809.jpg)
![“It is way less certain to be a wonderful business in the future. The threat is alternative mediums of information. Every newspaper is scrambling to parlay their existing advantage into dominance on the Internet. But it is way less sure [that this will occur] than the certainty 20 years ago that…” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/8d0/charlie-munger-458_advantage_it-is-way-less-certain-to-be-a-wonderful_59627.jpg)
