Venmo
Groupon
Uber
Slack
Square
Cloudera
Common link?
They ALL started during the last recession.
Successful startups can — and — will launch during this downturn. There are four primary reasons why:
(1) Talented engineers, coders, product managers, designers, creatives, and others are suddenly out of a job — and many will devote themselves to new ideas.
(2) As a result of the pandemic, health care, e-commerce, logistics, delivery, alternatives to traditional, commercial real estate and more represent opportunities ripe for disruption and transformation.
(3) For those founders who can secure funding right now — they’ll have less competition especially vis-a-vis large incumbents which are in survival mode; and hiring talent is easiest in a downturn.
(4) Most of all: America’s economy and its entrepreneurial spirit is resilient — especially when our backs are against the wall.
We’re all living through a painful and difficult time. But, especially now, a number of successful ventures will start up, scale, and ultimately help to make the world a better place.
https://www.axios.com/coronavirus-startup-wave-0cb5a972-2314-45af-9d30-8b249fe1400d.html
