We launched Typedream at the beginning of the pandemic. Then came the Russian invasion of Ukraine. Both situations caused supply chain issues that led to inflation.
Things keep coming at us yet we're still standing tall.
Here are some reasons why to start a startup in a bad economy:
As @paulg @ycombinator says, "What matters is who you are, not when you do it. If you're the right sort of person, you'll win even in a bad economy. And if you're not, a good economy won't save you.”
Technology keeps evolving. If you wait a few years, it might be too late.
At Typedream, we realized that when in-person operations were paused, more businesses would have to switch their operations online and they would need a #nocode website builder.
As fewer companies are competing for ad space, buying ads on platforms like Google will become less expensive with lower demand.
= Lower CAC (Customer Acquisition Cost)
Big companies will no longer be able to offer ridiculously high salary with luxurious employee benefits so startups can offer a competing salary. The competition will go down to whether or not the candidate is passionate about your product.
Data as of Oct 4, 2022, 8:30 pm PT
TL;DR There will never be a better time to build a tech startup than NOW!