I was 18 when the last financial crisis hit so I never really *experienced* it but I was old enough to watch it happen. As a result I’ve pretty much been waiting for a crash every day since, all 10 years. Time and markets are a weird thing.
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I’ve got a graph going back to 2006 and while you can certainly detect extended illness of yours truly on it, no financial crisis, election, or news story mattered a whit. Feel roughly same about your business. The thesis is true. What would have to change to falsify it?
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Of course. We do run the risk of being reliant on hiring, so we need enough cash to weather potential storms
End of conversation
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