Why to Start a Startup in a Bad Economy
October 2008The economic situation is apparently so grim that some experts fear we may be in for a stretch as bad as the mid seventies.When Microsoft and Apple were founded.As those examples suggest, a recession may not be such a bad time to start a startup. I'm not claiming it's a particularly good time either. The truth is more boring: the state of the economy doesn't matter much either way.If we've learned one thing from funding so many startups, it's that they succeed or fail based on the qualities of the founders.
- ▪October 2008The economic situation is apparently so grim that some experts fear we may be in for a stretch as bad as the mid seventies.When Microsoft and Apple were founded.As those examples suggest, a recession may not be such a bad time t
- ▪I'm not claiming it's a particularly good time either.
- ▪The truth is more boring: the state of the economy doesn't matter much either way.If we've learned one thing from funding so many startups, it's that they succeed or fail based on the qualities of the founders.
Paul Graham — Essays files mainly under blogs. We currently carry 219 of its stories.
Opening excerpt (first ~120 words) tap to expand
Want to start a startup? Get funded by Y Combinator. October 2008The economic situation is apparently so grim that some experts fear we may be in for a stretch as bad as the mid seventies.When Microsoft and Apple were founded.As those examples suggest, a recession may not be such a bad time to start a startup. I'm not claiming it's a particularly good time either. The truth is more boring: the state of the economy doesn't matter much either way.If we've learned one thing from funding so many startups, it's that they succeed or fail based on the qualities of the founders. The economy has some effect, certainly, but as a predictor of success it's rounding error compared to the founders.Which means that what matters is who you are, not when you do it.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at Paul Graham — Essays.