​Why a downturn can separate the recession-proof startups​ from the ‘hacks’

The inevitable physics of economics is upon us — what goes up must come down — and we appear to be headed for the down part of the equation.
But all is not lost. If you need a reminder, Venmo, Instagram, Uber and WhatsApp all launched during the Great Recession of 2008.
When I think about recessions, I remember what an electrician said while working on my house during the dot-com blowup. I’d asked him if he was worried about the economy affecting his work, and as he drilled another hole for the wiring, he looked up at me and said, “Nah. A bad economy just weeds out the hacks.”

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