Why to Start a Startup in a Bad Economy: http://paulgraham.com/badeconomy.html
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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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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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Bad economies are a particularly good time to start pure software companies the leverage excess capital.
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@mmay3r secretly rooting for people to use bottomless cuz of coronavirus
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Uber at a similar time too – offer liquidity for an underutilized asset, and let people pay off their mortgage They won’t forget
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what do you think is needed now
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Recession helps Airbnb attract hosts who need $$ but depresses demand for travel. What about a p2p marketplace whose industry is more immune to cyclicality? Supply and demand both
.https://www.wsj.com/articles/investors-flock-to-self-storage-rental-housing-as-safety-plays-11583780432 …Thanks. Twitter will use this to make your timeline better. UndoUndo
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