About a month after I wrote that essay, we funded a company called Airbed and Breakfast. And one of the reasons they started to grow during the winter was that, during the recession, hosts needed the money to pay their rent.
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Why to Start a Startup in a Bad Economy: http://paulgraham.com/badeconomy.html
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Airbnb raised their first round after YC at the worst possible time: March 2009, the month the market bottomed. They raised at a pre-money valuation of $2.4 million. It didn't matter. They did fine, because they had made something people wanted.
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finally a bad economy, it's been 10 years
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why are you always on twitter so late? I’ve noticed a patterned late night timing to tweets. Does it help to only look at it same time every day?
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I live in England.
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* Get a weekend bootstrapping job that is bombproof in a recession. * Steal the industry's heavyweight lunch when they are being distracted with redundancies and slow downs.
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"Startups often make things cheaper, so in that respect they're better positioned to prosper in a recession than big companies."
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"...the surest route to success is to be the cockroaches of the corporate world. The immediate cause of death in a startup is always running out of money. So the cheaper your company is to operate, the harder it is to kill."
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Not with Corona present.
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Great essay. Any basic SaaS proposition makes sense in bad economy: Cheaper, better, faster. It's almost "build for the dip"
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i think it depends. companies have limited budgets and there is a lot of Saas out there. so demonstrating the biggest impact to bottom line (and topline) is key now
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