Adapt or Die: The economic crisis and the harsh reality for 2009
Saturday, December 6th, 2008I read a pretty compelling, albeit morbid, email the other week from Jason Calcanis, founder of Mahalo. He spoke about “The Start-up Depression” in the wake of current economic conditions in the US. He followed up with an equally forceful article titled, “Good News for People who Hate Bad News“. It sounded more like Armageddon was imminent. His words were harsh and foreboding:
“The severity of what has happened can’t be underestimated. There will be no white knight. Even the massive coordinated government action–including the first global rate cuts and bail outs–has done nothing to stop the panic or create a bottom (at least from where I sit). Bottom line: there is zero chance of a short or medium term-rebound. Zero.”
It’s clear that he’s not overexaggerating. Market conditions are impacting investing. Here are some harsh realities:
