This time of year always gets me thinking about the nature of great products. Recently I was forwarded an article on Apple and the caption of a photo of an iPhone had this great line "Pleasure is Not the Absence of Pain."
One consequence of having been around this industry for a while is that I¹ve seen several cycles. Sometimes the downsides are fairly minor and barely touch tech companies, and at other times nearly everyone has lay-offs, cost-cutting, consolidations, or worse. While it¹s never fun to see the industry enter a downturn, I have learned that this can actually be a very productive period for the smart companies that know how to weather the storm.