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Why the Netflix and Meta Plunge Should Increase Your Bitcoin Conviction
I spent many years in sales and witnessed several large accounts become exploding stars. This occurred when a client would purchase too much product and a change would happen in their business resulting in them being unable to keep up with their bill. One day your best account becomes your biggest headache. Even worse, if you get hit with a clawback, where your commissions were paid upfront and now you have to pay them back, it can ruin your month, quarter, or even impact your year’s earnings.
To avoid the catastrophic supernovas, I liked to build my clients up steadily and not oversell products. You see when these stars blow up, it shakes you mentally, one of the worst headspaces to be in a sales job. You are now in a hole and your biggest asset has become your biggest liability.
On the other hand, having large accounts is what separates a high-earning salesperson from someone earning the status quo. It could be a balancing act and a lot of it was out of your control. Watching Netflix stock tumble 71% and Meta (formerly Facebook) lose 56% of its value in 6 months reminds me of these exploding star accounts. If a lot of your portfolio is/was in these two stocks, you may be in a world of pain right now.
