Now the tough get going. The economy will come back—not because it decides to come back, but because we together make it come back. How long this will take to happen, no one can say for sure.
This much is clear: silly season is over. Things like having not one, but two places on your block that serve expensive coffee that takes a long time to make, are over. Things like getting funding for business models that are “cool”, but that have no hope of ever making money, are over.
Value creation doesn’t stop in a recessionary economy like this one—but it does change, sometimes dramatically and very fast. Value can migrate from one economic sector another. This is because each “value chain” interacts, and displacements in one—like you lost your job—cause displacements in another—like cutting out the overpriced coffee. Read the rest of this entry »