In 2008, I was fired from my job because of the economic downturn. The recent panic and sudden fear that’s stricken everyone reminds me of how I felt when I lost my job and the depression I personally felt.
Losing my job felt like a personal failure and I went through a pretty rough patch. I clearly remember staying in bed hiding under the covers with my ps3 and call of duty 4 for a month depressed (and smelly) because I was so ashamed. Getting fired left like I was being told that my value as a person didn’t justify the crappy salary that I was getting ($62k).
After getting fired I had found out that the firm was laying off employees hired at my “class” or pool because we entered into the company at a period where everyone received starting salaries higher than they wanted to pay (buyers remorse). So, they were firing our class in order to rehire a larger incoming class or pool at a lower starting wage. They were cycling the labor pool.
In retrospect, getting fired and going through the last economic downturn in 2008 was probably the best thing that ever happened to me. I was always going to start a company and I was always going to leave the firm in the long run, but I was caught up working 90-hour weeks and trapped in the office political bullshit.
I forgot myself.
I spent a good month wallowing in self-pity and my family really saved me from myself. I ended up opening my own firm (terrified that no one would come). But, people did come and I slowly became profitable. The first year I earned about $30k (Definitely not f*ck you money), but I was proud of what I accomplished.
So, honestly I hope that the 2011 economic downturn double dips.
I hope that this downturn fucking shatters the general population because I’ve learned from personal experience that real opportunities come during these coming days. The fear drives away the meek and cuts the bullshit because no one has time to care about appearances or the superficial anymore – it becomes a race to real profits and success. There’s $15 trillion dollars in the economy and depressions or recessions don’t matter because you just need a piece of it. The last time this happened I started a successful company that I still own and I’m going to do it again with a startup this time with my partner.
This is not the time to fold because we’re hearing stories of VCs tightening their purse strings and angels disappearing. This is the time for you to hit puberty and for your brass balls to drop
Successful companies are formed during the hard times because those companies are positioning themselves for the future. I fully plan to be a company that positions my startup for the turnaround that’ll come in 20XX.