Does Economic Turmoil Breed Innovation?

Back to the Garage

Wired magazine recently included an essay suggesting that now is the time to innovate. Bootstrapping is a part of e-ship: lean production was developed in lean times. Many large firms such as Apple and Microsoft were started in hard times.

Siebel systems was started in a downturn. Tom Siebel is fired up to do another start-up…because the timing is right: (1) rents are cheap; (2) good people are available; and (3) other potential entrepreneurial competitors are dispirited.

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1 Response to Does Economic Turmoil Breed Innovation?

  1. Absolutely. Not only is this the perfect time for to start a biz, but it’s also the time when businesses reinvent themselves. Economic distress gives rise to entrepreneurship because business are in need of creative solutions at a low-cost.

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