Two weeks ago the renowned VC firm Sequoia Capital gave their portfolio CEOs a presentation on how startups should deal with the bad economy. In the presentation, the “entrepreneurs behind the entrepreneurs” gave some good advice any startup should follow in good and bad times (for example, “spend every dollar as if it were your last”).
In reply, Silicon Alley Insider produced a presentation which, while a parody, also has some great advice hidden within.
Of course, there are still many good reasons why you should start a startup in a bad economy.
via I Will teach You To Be Rich
“The financial crisis is not the crisis of capitalism. It is the crisis of a system that has distanced itself from the most fundamental values of capitalism, which betrayed the spirit of capitalism.” – Nicolas Sarkozy
Two excellent articles on the future of capitalism:
A Capitalist Manifesto, Judy Shelton for The Wall Street Journal
What are the basic principles that we can forge together toward this “true capitalism” […], this market economy that utilizes the power of genuine competition to serve the needs of individual producers and consumers? It is a capitalism that accords primacy to the entrepreneur — that compensates hard work, innovative solutions, stalwart commitment and personal discipline. The values that define the character of individuals should find expression in the policies that underpin the legitimacy of governments. Honest capitalism requires the following…
Traditional Capitalist Values, Eliezer Yudkowsky for Overcoming Bias
Making money is a virtuous endeavor, despite all the lies that have been told about it, and should properly be found in the company of other virtues. Those who set out to make money should not think of themselves as fallen, but should rather conduct themselves with honor, pride, and self-respect, as part of the grand pageantry of human civilization rising up from the dirt, and continuing forward into the future.
Approaching its tenth anniversary, the Library of Economics and Liberty still continues to be the première resource for economic reference and thought. Highlights of the site include:
Worth a bookmark, if only to direct the curious towards Russ Roberts’ introduction to ten fundamental economic ideas.
With cost-cutting and downsizing on peoples’ minds, The Economist compares the cost of firing people around the world.
America, New Zealand and Tonga are among the most company-friendly countries, requiring no penalties or compensation to fire a full-time employee of 20 years. By contrast, a business in Zimbabwe must shell out well over eight years’ worth of pay to sack a worker. But companies in Venezuela and Bolivia are even more tied—workers there cannot be fired at all.