Actually, one key factor about recessions that the article doesn't mention is the "binaryness" of it all.

If you're working full time, you probably won't notice a whole lot of change.

But if you're out of work, scrambling for low wage part time work, or running a business with a noticeable drop in revenue, life will starting sucking a whole lot, right away, and in ways that the OP didn't even come close to describing.

I don't think a recession would impact me negatively whatsoever. Perhaps I might further reduce costs slightly. I do know many people that would get hit hard right now if things went south.

However, if we hit a full out depression I could potentially be impacted, however there would be plenty of opportunity in such an environment.

Excellent point. In the last 'big one' (2000-2002) I worked for a startup that actually benefitted from a falling stock market. (The bond market rallies, which brings down mortgage prices; you may be able to figure out what industry this is.)

I didn't feel the crunch much at all -- lucky me. But it's hard to be oblivious to it when your friends are having problems and the Valley is getting press for holding so many Pink Slip Parties.

For those in their twenties, you remember the last recession just fine. It was in the early naughts. http://www.bea.gov/briefrm/gdp.htm

You might recall that it was short and not that big of a deal.

Some people have been eagerly waiting for this recession for half a decade, so the excitability is understandable.

I landed in the bay area in 2002, and it wasn't that big a deal, but it was rough trying to find jobs, because the market was so flooded with people. In the cases where I got in for an interview and could show people what was what, I usually got the gig (I was doing contracting), but it was harder to get those interviews.

I remember my Dad telling me about my grandfather in the depression. He was born about the turn of the century and ran an EE shop, wiring up businesses in the busy manufacturing centre of Aus, Melbourne. He was in his 20/30's when the depression hit. Out on the streets one day, a man happened to come up to him and ask if he could have the "core" of the apple he was eating.

His reply? "No. I'm going to eat it all. There will be no core".

"... I really don't see the point of that article. ..."

When I read this comment, it tells me the reader hasn't registered that the rules have just changed. Drastically. [0] Just like depression story above where something seemingly as worthless as an apple core could be someone else's only opportunity.

The era of cheap finance is over. [1] Businesses are now in survival mode. So trying to convince them to part with money has now become a whole lot harder. If you have a job, you can loose it, through no fault of your own. If you don't have a job, getting one that you like might become very difficult indeed. Especially if the industry you are working in is hit financially hard. Innovative thinking is out. Rationalisation is in.

The suits are going to hit back at the "smart-arse" 20yo's who are well paid, wear shorts & t-shirts to work, read their favourite web2.0 websites and get in late... regardless if they do the job well. Because they can! [2]

For business, a new mindset is now required to operate. Spruiking to everyone you have lots of users instead of paying customers tells everyone you are most likely bleeding cash and therefore avoid your business. Cash is king. Debt is now un-sexy. [3] The price of doing business should get cheaper.

Good news for startups. The point of the article is simple. Remind those who have forgotten and those who have yet to experience a recession, the rules have all changed.

Adapt your thinking accordingly.

[0] You could argue the basics of business don't really change and any fool can make money in a boom.

[1] For the time being. Recessions don't last for ever.

[2] Read here for details ~ http://news.ycombinator.com/item?id=88525

[3] If it ever was outside the geared world of finance.

"Pop-ups won't pop-up so often" - love the style of that article (really). I think it is meant as a parody anyway.

I really don't see the point of that article. It doesn't even try to hide its patronising tone. Sounds to me like yet another tirade about how our generation leads such a sheltered life, etc. etc.

Yawn.

Yes, the article was patronising. A tirade? Not sure about that.

I don't know what generation you're in, but I do know that the past 10 years or so have been a breeze compared to what was before. So, if you don't remember the early 90's, or especially the 70's (they really sucked!), be prepared for a change.

I sure hope you have full time work (or a nice business) and come through this OK. Only then may your yawn may be justified.

"Patronizing" is an understatement. What a tool this writer is.

Recessions can suck, but -- as another replier said -- it's not an opportunity for "what's the matter with kids these days" jealousy. I started my career in 1989 and it took me over a year to land a job. In 1991 I had to quit because of a family emergency, and didn't work again until 1993. The recession played a large part in that. But I don't begrudge those who haven't had harder times for a second. Envious? Sure. But good for them. Seriously.

Oh, besides: we're not in a recession yet, and 60% of the reason we'll end up in one is because the entire world is now repeating "we're in a recession" as if it's some kind of robotic mantra. If you believe it, you will make it come.

I often think that recessions are more the result of Catholic guilt (Protestant guilt? Jewish guilt?) than real economics. Read articles in the WSJ and the writers will actually say things like "oh, it's about time, we really deserve this, things have been to good for too long" as if God Himself is going to render judgement. We've stayed up too late, and now Daddy is going to punish us. I beg these people: go to therapy (while you can still afford it) and leave your childhood problems out of this.

</rant> <blush>

Funny, when I first read it, I thought the whole thing was tongue in cheek satire. Now, I'm not so sure. Maybe the lesson is that, unless you're onion, save the satire for when you're in person so you can make sure the recipient knows.

I'm sure he walked 10 miles to school barefoot in the snow too... uphill both directions.

That's just snark. What a recession really looks like is a father sitting uncomfortably at a dinner table eating food he didn't buy himself.

Well, maybe it's time to balance the economy.

If you mean "stop using the government to hand large bundles of tax dollars to the ultra-rich" then one can't help but agree with you.

If you mean "things have been too good for too long and now we have to pay for it because we deserve it" then: the economy isn't your Daddy. It's just a market.

maybe you have to be living in the uk to get the humour?