⁍ The coronavirus pandemic and current US economic decline has downsized many companies, left 17.8 million unemployed, and strained even the fastest growing startups.

---

⁍ Kendrick Nguyen, CEO and cofounder of the startup investment platform Republic, sees new opportunities coming from the recession that will open up an abundance of innovation in the startup world.

---

⁍ ‘The beautiful thing about startups is they are not rigid [in] their infrastructure, which allows them to be nimble and pivot in a time of crisis,’ he said.

---

– The worst recession since the Great Depression has left 17.8 million Americans out of work and many of the fastest-growing startups, such as Airbnb, laying off 25% of its staff, Business Insider reports. But there’s a silver lining: “The beautiful thing about startups is they are not rigid [in] their infrastructure, which allows them to be nimble and pivot in a time of crisis,” says Kendrick Nguyen, CEO and cofounder of Republic, a startup investment platform that has raised more than $150 million for more than 200 companies. “The industries and startups he thinks will rise out of the pandemic and recession with the right solutions to become the next billion-dollar startups.”