Why does this happen? As Chesky explained, a strong economy might give founders more cushioning to “perpetuate bad strategies and be a little less disciplined.” When times are tough, you’re forced to be more innovative, more creative, and more focused on what matters.
The Stockholm School of Economics research shows that recession startups grow their R&D teams by an additional 33.7 percentage points over one year compared to expansion startups. This means that starting during challenging times doesn’t hold you back—it often pushes you ahead.
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