Monday, September 26, 2022

The 3 truths

 Be it Pulitzer winning journalism, the judiciary,science, philosophy : all of them pursue truth. The problem with the truth is there are many versions of it. Understanding these versions help us understand reality and solve problems better. How?

Let us take a few examples to appreciate these better. Few years ago, world believed that someone who is good at many things will survive and grow. Multi taskers, Conglomerates, Super Apps, Jacks of all, Generalist MBAs... Firms that provided products across market segments, value/price spectrum were valued highly. ( General Electric, Samsung...).It was the reality and truth for some time. Over a period, those were found to be lacking depth/moat and were pummeled by specialists. ( Apple, Tesla, Super specialists with deep skills and expertise in a specific area, Uber, Airbnb...). Suddenly this became the truth that everyone started respecting. Hypes that go through cycles usually have an agenda owner/motive owner behind ( 'Cui Bono'). A truth that changes over time based on what is real at a specific point of time. Powerful people create a 'truth' that they want everyone to believe in. It is called truth based on a reference /authority/agenda or motive owner and is gone later when the reference/authority/agenda owner vanishes.

During multiple booms, markets, investors, governments and publics were seeing value where none existed. Dot Com boom until it got bust was glorified by everyone. Easy money based valuations in last few years made nations yearn for their own unicorns even if they were illusory. German government was praising Wirecard as a national icon until it was'nt. They were seeing something that did not exist. People who did not understand 'tech valuations' were branded luddites. This 'truth' has no basis and existence. It is an illusion.

The eternal truth is different from both the above. It neither depends on reference nor is illusory. It does not change with anything. Getting to this is not easy or straightforward. Before you get to this eternal truth, first you need to look at the current realities and see if they belong to any of the above and rule them out. Process of elimination gets you closer to the eternal truth. The clarity alone is worth the effort!

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