Introspection: The economic downturn and your startup
Mike Schinkel
· 1 year ago
Jeff:
Great post, as usual.
And though I hate to admit it I've been predicting this in private conversations with my father since 2001.
But, I'm tired of negativity. What your post tells me is that many if not all of the "irrationally exuberant" competition (i.e. those that hindsight shows to have been over funded and/or that can't run their business for squat) are going to get kicked to the curb and only those that really run their businesses well will succeed. And that tells me Appcelerator will do very well.
Actually, like buying when the market has bottomed out, now seems like a great time to start a startup to me. FWIW.
Katie Poplin
· 1 year ago
Jeff- thanks for sharing this. Benchmark is one of the best for a reason right? Now if only I could get the courage to forward to my CEO :)
I think there's an important difference between pessimism and actual honesty. It's not negative to be prepared and try to deal with the situation (the parallel I think about: it's not "unpatriotic" to question the President, the war, etc).
Great post.
KT
Ivo Beckers
· 1 year ago
Being in "survival mode" is a good time to put the horizon a bit further to get some air, become creative again and built things that last.
Great post and now we can move on!
-I
Sam Taha
· 1 year ago
The dotcom correction was a necessary cleansing. Too much money in the hands of people that did not deserve the VC. My company survived it and we eventually became profitable while 95% of our competition vanished.
I agree, this time it is much worse and will likely more lasting to the psychy of both business and the consumer. Getting vc, credit and mortgage will never be the same again. But as others have said, the good companies will make it and come out the other end stronger.
All Comments
Great post, as usual.
And though I hate to admit it I've been predicting this in private conversations with my father since 2001.
But, I'm tired of negativity. What your post tells me is that many if not all of the "irrationally exuberant" competition (i.e. those that hindsight shows to have been over funded and/or that can't run their business for squat) are going to get kicked to the curb and only those that really run their businesses well will succeed. And that tells me Appcelerator will do very well.
Actually, like buying when the market has bottomed out, now seems like a great time to start a startup to me. FWIW.
I think there's an important difference between pessimism and actual honesty. It's not negative to be prepared and try to deal with the situation (the parallel I think about: it's not "unpatriotic" to question the President, the war, etc).
Great post.
KT
Great post and now we can move on!
-I
I agree, this time it is much worse and will likely more lasting to the psychy of both business and the consumer. Getting vc, credit and mortgage will never be the same again. But as others have said, the good companies will make it and come out the other end stronger.