Boom and bust cycles are very difficult for businesses because you're hiring a bunch because you're planning for the future. And if the future is going to be very big, you need to hire people, or suddenly you go to boom to bust, then all of a sudden, you're kind of battening down the hatches and trying to sail, you know, through the storm, it's a different thing. So part of it is making good decisions about, well, how long is a boom cycle going to be, you know, don't plan on it going forever.
Reid HoffmanOne thing I learned in '97, when I thought the right time to found a company was during a swing-up, is that it's much better to start during an economic downturn. Partnerships are easier; hiring is easier; and the competition starts later.
Reid HoffmanPeople who take risk intelligently can usually actually make a lot more progress than people who don't.
Reid Hoffman