Innovation Analysis: 2020 Expectations
In the first quarter of 2020, the U.S. set a new record—126 months—for the longest economic expansion in history. The DOW achieved record highs; unemployment reached record lows.
Then in March, the coronavirus pandemic struck with full force. More than 20 million U.S. workers have lost their jobs. Economists are projecting the most significant decline in consumption since the sixties. The numbers are changing so rapidly statisticians can’t keep up.
This brief report offers a snapshot of the economy with a focus on insights and implications for entrepreneurs and how we see startups in Ohio adapt.
Startups, venture capital investors, the economy, and society, must adapt to what could be a new normal for months to come. Visit Rev1’s playbook for Managing Your Startup Through COVID-19 Pandemic. We are adding information and insights daily.
This material in this report was completed in early April to reflect the broad economic effects of the COVID-19 pandemic at that point and to include information about how startups are adapting.