Someone say Recession? Not me. I just read a great article at Information week, "Startups Face A Tough Investment Environment"
The article outline some of the issues facing startups in today rather tough economic climate. Infoweek says that in the "second quarter, for the first time in 30 years, there were no initial public offerings of venture-backed companies, according to PricewaterhouseCoopers." I say who cares, who wants the hassle of going public with all the rules you need to deal with.
The article goes on to say:
"A slowing economy might even open some doors for startups. Virtualization, software-as-a-service, and cloud computing vendors are in a good position to ride out any downturn. Just last week, Hewlett-Packard bought venture-backed LeftHand Networks, a storage virtualization and SAN vendor, for $360 million. Given the pressures on IT budgets, CIOs will be more open to startups that can lower costs by reducing data center software and hardware." Sound like a perfect time to start looking at ways to outsource your infrastructure or make your current one more efficent.
Lets be clear, from my point of view I'm not seeing any kind of economic recession. Actually I'm seeing more interest in our cloud software and services then ever before. What's more I think we are actual in a particularly good position to take advantage of some of the consolidation happening in the IT sector. We now have the unique opportunity to recruit some of the best and brightest at rock bottom prices, and as a entrepreneur that is a good thing.
Recession, I say bring it on.