The Comeback Code | Rael Levitt | TEDxSomerset West

Quick Overview

Rael Levitt recounts his personal and professional "tsunami" experience following the collapse of his property empire in 2008, detailing how he rebuilt his career by becoming an auctioneer and eventually starting a new successful business, InnerSpace, emphasizing that personal setbacks are not failures if you choose to run toward them and learn from the story.

Key Points: Rael Levitt recounted being on holiday in Phuket, Thailand, when the 2004 Indian Ocean tsunami occurred, noting he was unaware of what a tsunami was at the time. His personal and business 'tsunami' happened later, when his property empire collapsed overnight around December 10th/11th, 2011, leading to him being accused of fraud and being in crisis. Despite the collapse, he states he never went bankrupt and no one lost money, but it became a massive media scandal, causing him to be investigated by the South African Revenue Service. Following the collapse, he returned to studying at age 42, obtaining an MBA in Singapore, and then began rebuilding his career by becoming an auctioneer. He started a new business, InnerSpace, which initially struggled but eventually grew to be worth 3 billion Rand, conducting 60% of South Africa's auction transactions. The key lesson learned from the tsunami experience is that when a big wave comes, you must run toward it, as personal setbacks or business collapses are not failures if you learn from the story.

Context: The video features Rael Levitt delivering a TEDx talk titled 'The Comeback Code: How to Survive a Tsunami' at TEDxSomerset West. Levitt shares a deeply personal story about experiencing two major life-altering events he terms 'tsunamis': the 2004 Indian Ocean tsunami while on holiday in Thailand, and a catastrophic business collapse in 2011 that led to media scrutiny and legal investigations. He uses these crises as metaphors for overcoming massive setbacks in life and business.

Detailed Analysis

Rael Levitt recounts two major 'tsunami' events. The first was the 2004 Indian Ocean tsunami while he was on holiday in Phuket, Thailand; he admits he did not know what a tsunami was then and was simply enjoying a holiday. The second, more impactful 'tsunami,' was the collapse of his property empire in late 2011, which happened quickly and resulted in him being accused of fraud and facing investigations by SARS. He emphasizes that the collapse was a media scandal, but he never personally went bankrupt, and no one lost money. He realized the failure was personal, not purely financial. In response, he decided to go back to studies at age 42, completing an MBA in Singapore. He then restarted his career by becoming an auctioneer, a role he found deeply ingrained in his personality. He founded a new company, InnerSpace, which grew significantly, handling 60% of South Africa's auction transactions and eventually being worth 3 billion Rand. The central takeaway, his 'Comeback Code,' is that when a major wave hits, one must run toward it, learn from the story, and not let fear dictate actions, contrasting his response with the previous speaker who ran away from the wave.