Youngmi Moon

But I agree with you completely.

So can I push you on this, Bahir, because I have been thinking about this quite a bit and I can't decide if I agree or not.

And here's why.

It feels like the pendulum has swung back for sure, but I'm not sure I'm convinced that this is the new normal either.

In other words, to the extent that we were living in a somewhat artificial environment as a result of low interest rates, this too feels like an artificial environment in the opposite direction, where you have the Fed, you know, is absolutely determined to bring asset prices down.

And so this too feels unnatural to me.

And so I wonder if, in fact, the normal is somewhere in between these two.

And Felix, this feels like this thing is here to stay in the sense that at least on the ground, it feels like the competition for hourly workers continues to be really, really strong.

Okay, so I have something else I liked.

I liked the quiet, effective CEOs.

I know the media loves to write about loud, blustery CEOs.

I am so tired of the media obsession with Elon Musk.

What I liked about 2022 is that, in fact, if you look closely, there were so many business leaders you could point to who just seemed to be putting their heads down quietly and trying to do their jobs.

Uninterested in drawing attention to themselves, just focused on trying to be effective during some really challenging circumstances.

So Satya Nadella at Microsoft, Brian Chesky at Airbnb.

If you look at Tim Cook at Apple, he's actually kind of in the middle of a firestorm right now.

The vulnerability of his supply chain, the high take rates and the controversies around the commissions in the App Store.

And this is the year they're pushing into wearables and headsets.

And I'm not saying I agree with everything all these people are doing, but I do appreciate that they're just going about it in what appears to be an egoless way.

Sundar Pichai at Alphabet, even Dara at Uber didn't hear much from him this year.