You may have heard, “Never waste a good disaster.” Out of chaos and destruction, opportunity can be born. History has demonstrated over and over again that companies willing to navigate the storm and innovate, versus those that recoil and hunker down, have reaped rewards. Consider this small list of well-known companies that were born either in the midst of or within a year of historic recessions: FedEx (1971), Microsoft (1975), Electronic Arts (1982), Google (1998), Salesforce (1999) and Facebook (2004).
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Story excerpt provided by Crain’s Cleveland Business.
Written by Bara Watts.
Originally published May 11, 2020.