After many setbacks, Thomas Edison finally saw the light.

As seen in The Oakland Press

March 8th, 2026

After many setbacks, Thomas Edison finally saw the light.

by Ken Morris

Long time readers of this column know that, outside of the financial services industry, I have a great interest in American history. One of my fondest memories was a camping trip to Gettysburg with my boys. More recently, we enjoyed a trip to Washington, D.C. to see the multitude of memorials and museums.

Of course, much of our history, going all the way back to the American Revolution and Boston Tea Party, is intertwined with financial issues and concerns.

I bring this up in a financial column because one of my financial magazines recently republished a 1929 interview with Thomas Edison, certainly a significant figure in America’s history and financial development.

Other than he invented the light bulb and was friends with Henry Ford, I admit I knew very little about Edison. He was 82 at the time of the interview and still quite sharp. When asked if he believed the age of electrical inventions and discovery was over, he said he thought the development and applications of electricity were just in its infancy. He foresaw electric powered trains and even anticipated the future use of solar power.

I wonder what he would think of today’s world of battery powered electric cars, phones and computers. How he would have felt about the incredible need for electrical power generation as companies build gigantic data centers to facilitate the proliferation of AI. I think even he would be amazed at how AI is going to change our lives in ways we cannot yet imagine.

Brilliant inventor that he was, Edison also displayed a measure of humility. When asked about being a genius, he stated that “genius is 1 percent inspiration and 99 percent perspiration.”

Although he was a genius, Edison had his share of challenges. The development of the light bulb had countless failures. But he persevered and was ultimately successful.

We can all learn from his tenacity and apply it to our daily lives. At some point, almost everyone is challenged by some sort of hurdle or obstacle. How we react to those setbacks makes a difference. For example, both Michael Jordan and Shaquille O’Neal were cut from their school basketball teams. And both went on to Hall of Fame basketball careers.

Over the years, I have worked with numerous auto executives. Some who were offered early retirement did so, while others chose to become consultants. One of my clients even took it a step further and started his own successful firm.

It’s been a long time since the financial markets have had a significant and stressful pullback. I’m not predicting one, but downturns do happen and they can create a lot of anxiety. Consider the financial crisis of 2008. Many people couldn’t handle it. They panicked and took their losses. Unfortunately, many moved to cash and have remained there ever since. Not only did they take a needless financial loss, they also missed a period of significant market growth by remaining in cash.

There will always be setbacks, in both finances and in life. And they will often occur at a time that causes great anxiety. In the face of such adversity, I urge you to think like Edison. Stay calm. Think clearly. Analyze. Persevere. There will be light at the end of the tunnel.