Out of crisis comes opportunity. Remember that many great companies have risen from the ashes of distressed periods. Google, SalesForce, and Facebook were started just before a period of financial stress. Uber, Venmo, Slack, Airbnb, and Pinterest all emerged from the 2008 financial crisis. There are advantages to building in a less heated economy: hiring great talent gets easier, there is less “dumb” competition purely fuelled by capital, one learns to think smarter to build an edge into the upturn, and more.