Believe it…
Historically, Krakens originated in Scandinavian folklore, usually depicted as an aggressive cephalopod-like creature capable of destroying entire ships and dragging sailors to their doom.
Today there is a Kraken category of creature that is not folklore but operates daily in the business of business aviation. In the aviation environment these Kraken are known as a Dunning Kruger specimen. These Dunning Kruger Krakens do not destroy ships, just business aviation.
In the business of business aviation, these cephalopods dominate the business of business aviation, and are becoming very visible as more and more of them are getting exposed through their insatiable desire to be known and respected in an industry where they have no experience or knowledge. What drives them to this point of failure are shinny toys called Jet Aircraft and turbo props.
These are people that do not know what they do not know. And they all think they are all-knowing, which is untrue, because as we know the Dunning Kruger moniker, at least in the business aviation world, means moron. Yes, I am speaking about the trust fund babies or TFBs, that are in reality the cephalopods that know nothing about aviation while simultaneously destroying all credibility that business aviation may still have.
The Dunning Kruger in business aviation does not only know what it does not know, but simultaneously suffers from memetic desire, which means they must be acknowledged as an aviation “expert” which they are not.
This deterioration of business aviation is creating ever worsting situations. Right now, there is a fractional company that thought they were so special that they decided to go full cephalopod and went public with their stock price soaring crashing from $10 a share to $0.28 cents a share in a year…wonder how that happened.
Simple. Their stupid system cannot make money and never will be able to for one reason…time sharing in aviation cannot work. Yes, they tried to pass it off as fractional ownership–the aviation phrase for time sharing. But like it or not, fractional ownership is time sharing with jet airplanes, and it is stupid, especially based on the simple fact that Jet airplanes do not have a chronological age as people do. No, aircraft age is based airframe hours, typically 100,000 hours with mandatory maintenance requirements, which means, that calendar-aged aircraft are just as safe and probably safer than a new aircraft. They are typically the same models as the new ones at 5% of the purchase price.
Then there is this built-in problem; when you are a 4th, 8th, 16th or 1/32nd owner of a time share, what is the likelihood your aircraft is going to be available WHEN YOU NEED IT? And the costs to move them around empty (meaning without income) get passed back to the time share owners same as any time share costs, (meaning that the actual cost per hour for you to use your airplane is likely to be 3 to 5 times more than if you just bought a good used aircraft).
So, running operations that cannot work is one kind of problem, but that was not good enough for the cephalopod to destroy business aviation. So now we have Cards. This type of Kraken does not even pretend they know what they are doing. Which is understandable as they are just selling BS.
I started an aviation related business back in 1988/89 that ran profitability for years until a financial service
TFBs daddy bought it for him. His qualifications were exactly zero with the predictable outcome.
Everyone that knows anything about aviation knows these guys are incompetent, but since he was a TFB, there was no need to worry about him getting promoted to decision making based on knowledge in the aviation industry; he just started as CEO. Good to be TFB, just not for an aviation company.
Then came Covid, and he seems to have lost hundreds of millions in reserve accounts for the maintenance of thousands of jets, so the question must be, “where did they go”?
It is said that everything that happens was meant to happen because it happened. So that is what and why it happened.
There are ways to make the business of business aviation extraordinarily profitable (though never yet implemented), but that requires knowledge and experience. It requires knowing what you are doing in aviation.
So, to the people in the business aviation business, it matters not what Nom De Guerre, you call yourself, but if you do not know what you are doing or, are not willing to take the time to work with and learn from those that do, you are going to wind up having to sell your yacht.
Business aviation is not a game. And if you are not a professional, or working with a professional who knows from documented experience, you have zero business being on the field; you do not belong. And it is time for you Krakens, to stop killing the aviation business.
To learn more and receive and NDA contact me at rick.eriksen@cox.net
