Coronavirus crisis will reveal which startups are ‘houses of cards’: Fast Company Editor-in-Chief

Layoffs at high-profile tech giants like Uber (UBER) and Lyft (LYFT) grabbed headlines in recent weeks, though the novel coronavirus has also decimated the next generation of aspiring unicorns, forcing some to close permanently.

Some promising ventures may succumb to unfortunate circumstances, but the economic crisis also reveals which early-stage companies can draw on the effective leadership and sustainable business model necessary to weather a downturn, says Stephanie Mehta, the editor-in-chief of business publication Fast Company.

“We’re going to see the companies that actually have real business plans and real models that will be able to sustain them on the other side,” says Mehta, in a newly released interview, taped on April 27.

“For a lot of them, we’re going to see which ones were just, to mix my metaphors, which were houses of cards.”

“The worry I have without necessarily being able to look at any one company’s

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‘Avoid using credit cards as a piggy bank’

Legendary investor Warren Buffett had some advice for the millions of Americans with credit card debt.

“I think people should avoid using credit cards as a piggy bank to be raided,” the chairman and CEO Berkshire Hathaway (BRK-A, BRK-B) said during Berkshire Hathaway’s annual shareholder meeting. 

Buffett recalled that a woman had come to see him some time ago — a friend of his — to ask what she should do with some money she had just come into. 

“She said what should I do with it? And I said, what do you owe on your credit card?” Buffett recalled. “And she said, well I owe X. And I said, what you should do — I don’t know what interest rate she was paying but … it was something like 18%.”

Click here for complete coverage of Warren Buffett and Berkshire Hathaway.

According to WalletHub, the average credit

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A ‘deep’ U.S. recession is in the cards at the hands of coronavirus: top economist

The debate on Wall Street is no longer if the U.S. will enter a recession at the hands of the coronavirus, but rather how deep the economic downturn this spring will be.

Many of Wall Street’s top economists are rallying around the notion a U.S. recession will be severe and a snap-back recovery shouldn’t be expected later this year. No wonder why the market opened limit down for the third time inside of a week on Monday.

“This is really not an imbalance inside the economy, this is literally a shock that comes out the blue,” said Deutsche Bank chief economist Torsten Slok on Yahoo Finance’s The First Trade.

Slok added, “We would expect this [economic downturn] to be deep, but short because this came really quickly and it could also go away very quickly. So in that sense the difficulty with this situation is that we just don’t know

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six Methods Enterprise Cards Can Enhance Your And Your Business’s Credibility

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Hold Your Business Cards Updated

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The next day, April 23, 1912, the Frederick Board of Trade wired in an application for the newly formed Frederick County Chamber … Read More