To Weather The Recession, Think Like A Business

A Little Planning Goes A Long Way

Lightspeed Venture Partners recently wrote a Medium post called “The Upside of a Downturn”. As a leading venture capital firm that’s backed over 400 companies including Snap, GrubHub, and The Honest Company, they have broad visibility into the economy. Their post starts out with this: 

The boom times of the last decade are unambiguously over. 

Ouch.  

Jamie Dimon, CEO of JPMorgan Chase, made similar comments at a financial conference in May, saying: 

You know, I said there’s storm clouds but I’m going to change it … it’s a hurricane . . . You’d better brace yourself . . . JPMorgan is bracing ourselves and we’re going to be very conservative with our balance sheet. 

These quotes come from elites. Yes, we spend a lot of time strategizing about owning your future before the elites buy it up and rent it back to you. In this case though, Main Streeters are wise to listen to their warnings. If elites are bracing for an uncertain economic future, we should too.  

Facing Reality So We Can Prepare 

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