Downturn Provides a Silver Lining for Entrepreneurs
Written by Pete Kennedy on Wednesday, January 14, 2009
In his post, Could the credit crunch be good for startups?, Alexander Muse of Texas Startup Blog discusses Nortel's bankruptcy filing, and the silver lining he sees for entrepreneurs in the telecom space.
With the bankruptcy and ultimate breakup of the company, there will be lots of room for innovation from startups and entrepreneurs in the telecom space... Tightening credit markets mean that companies need to generate profits and can’t simply use debt to wait out under capitalized startups.
Just as forest fires cause great destruction, they are fueled by dead wood and allow new healthier forests to emerge.
This is a great analogy. Muse's optimism is in line with our belief that, despite all the negative news, there is always room for innovative, bold entrepreneurs with great ideas, excellent plans, and the will and tenacity to execute.
Related post: The Downturn - Keeping Things in Perspective
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