A nice read. The author cites companies like GE, IBM, Microsoft, Shell Oil, AT&T, Merck, Johnson & Johnson, Sun Microsystems, Skype, Kodak, Polaroid, HP, and Adobe which were all started during economic downturn.
A very short summary of the article:
According to the author, recession is the best time for starting up companies and takes it positively and states that recession is good :) .
The reasons being:
1.Managers think creatively.
2. During recession a long-lasting frugality is built as a culture in t
3. Enterprenuers dont face “venture fratricide.”
Here is a sentence(verbatim) I liked in the article.
That is my advice for entrepreneurs in these times: If you take an entrepreneurial risk, make sure you go after something big. Extend your imagination. Think flying and self-navigating cars, holo-decks, brain enhancers, salt water purifiers, fusion energy, and space travel.
Another short counter by him.
Bad news is good news to the pressThe article is from Communications of the ACM, August 2009.
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