So the Chinese government was thought to be ‘cracking down’ on big tech in China and the stock market went down like crazy. And people are saying that is destruction of value, and it is being wiped out from the economy. Well, it’s probably true the government doesn’t care if you are losing money. But what is interesting about the communist government in China is that it has realised it gets its power ultimately from the mandate of its people. And that the market as a device or problem-solving tool has to be directed towards the common and social good.
It is interesting how value becomes redefined as what the market says rather than something more intrinsic and based upon one’s independent assessment of it. One needs to be always clear about what is the value of something ‘to you’ and to have the independent benchmark by which to measure value against. It is of course easy to follow the market and base your valuation on the market; but that puts you on the margin all the time, you are going to just make marginal exchanges all the time rather than when you know your value the object more than the money you’re parting with.
The same will have to apply to yourself, your thoughts about your salary and career. Choose work that energises you and which you can put a value on, yourself. Where you know roughly your worth (of course with reference to – but not beholden to – the market). If you let the market lead, then you’ll just be chasing high pay, or the highest you can get with the sacrifices you are willing to make. That does not sound fun and pretty much sucks all the meaning and contribution out of work. Let yourself take the lead on defining value – of yourself, your contribution, and your work.