Trouble and panic in Iceland.

I have a big telecom's project in Iceland since a year. Iceland is a beautiful and amazing country. But it is in big trouble one might think. The 4 biggest icelandic banks have been taken over by the government over night. Icelandic companies of the finance sector are in big trouble due to that and the sector has big issues too.

Everyone thinks I must be mad to be in telecoms and into Iceland at this time. The reality is different. What's happening currently in the icelandic market is pure panic. Ok its for real that some people have lost or are going to loose big money or already have lost it. But does that have to do anything with my plans? It doesn't. It means my competitors get into trouble. They are already cutting jobs big time. It means a lot of people revise their budgets and will be looking for better deals to save. The result of this is that we might even get more customers than we thought. It means there might even be one or two competitors less. Have we lost money so far? No. As we only invested in our own infrastructure and didn't play games on the financial market, we have lost nothing. Our own infrastructure is still worth the same as before. Zero value lost. So why panic?

Quintessence: Generalizing trouble in panic situations is bad. One guy's trouble is the other guy's opportunity. Trouble and panic as it happens right now is just shifting money around quickly. Some will loose and some will win. And this time we won't bee on the loosing side.