2018, another 2008?
A ten-year personal journey through the good and bad
The 2008 financial crisis is considered the worst financial crisis since the Great Depression of the 1930s. In these gloomy days, comparison between 2008 and 2018 is inevitable.
2008 was the year of my personal crisis. A company I founded was sued. In particular, it was claimed that my PhD was unaccredited. The Small Claims Tribunal Court agreed with the claimants and we lost our case.
It was a huge setback for me. I never hid where my first PhD degree was from but I lost all credibility. I could taken the easier route and given up. It was tempting to do so. However, I clung on to my Faith and made the decision to emerge a better man.
I went on to study at the University of Canberra and finally earned a PhD degree six years later. It became a testament to friends, family, and other entrepreneurs who have gone through dark times.
My experience wasn’t mine alone. It was meant to be shared.
Entrepreneurship can be a lonely journey. As I met with counterparts and shared my journey, we naturally found strength and comfort to confront our future. I realized that by learning from those who have succeeded in going through crises worse than ours, we stand on the shoulders of giants, and hence increase our odds of success.
During this time, I embarked on a new venture—a financial signals venture. Spiking App was launched in 2016 to mirror the trades of successful ‘giants’ in the stock markets.
In the same year, Spiking was backed by Quest Ventures and the National Research Foundation. We drew the attention of several major investors and luminaries of the stock markets, and secured S$1 million in seed funding. We have gone from strength to strength and have now helped more than 150,000 traders.
Is 2018 a financial crisis? It depends. Although cryptos and stocks are on a strong correction, there are always ways to deal with any difficult period. One way is to model after whales who continue to majorly influence markets. The Spiking blockchain platform widens our horizon to follow the whales of the crypto world.
The Spiking Initial Token Offering in 2018 is intended to reach out to more retail users, in both the crypto and equities space.
“Thar she blows!” We invite you to join us in whale watching at Spiking.
Love and regards,
Dr. Clemen Chiang
2018, another 2008? was originally published in Spiking → Your Freedom on Medium, where people are continuing the conversation by highlighting and responding to this story.