Rod Underhill, startup legend, co-founder of MP3.com, and, I’m very proud to say, strategic advisor and legal counsel to Chrometa, writes on his new blog that he expects to see a greater # of startups created during the current economic downturn:
However, I am expecting to see an even greater number of start ups to be created, despite the trouble on Wall Street, and really, because of the trouble on Wall Street.
A lot of people are losing their jobs right now. Many of the people who lose their jobs will find themselves feeling all “entrepreneurial” and create their own start ups. They may find it more difficult than normal to seek out venture capital funds, but they will fund themselves first with money from friends and family and angel investors still appear to be a good avenue for investment funds for early stage companies.
Always important to remember that just as bust follows boom, boom also follows bust – that’s just how it’s always been throughout history.
For the rest of this article, and more thoughts from Rod’s unique mind and perspective, check out his blog here.