in startups for around 25 years.
"A downturn is actually a better environment for companies to develop, most other businesses are distracted so it provides an opportunity to innovate quietly and to take time to perfect models," he told Business Insider in an interview. Going through a financial crisis isn't easy for fledgling startups, but market downturns have previously birthed giants such as Airbnb and Uber.
He has distilled five key pieces of advice he gives to portfolio companies to help them through tricky periods.
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