Learn from Indonesia : Startup layoffs storm

The Key is affordability and sustainability to survive in this digital era because we’re not doing charity – Fangfang Jiang IFC International Finance Corporation.

The storm of startup layoffs is in sight, many reports are showing the reduction of employees in various types of startups. This is because many startups prioritize growth over good cash flow.

How can we respond to a phenomenon like this, for the views of the skeptics from the beginning about the sustainability of the digital economy ecosystem, this is good news. However, if we look at the cycle in developed countries like the United States.

One economic phenomenon will not have an impact on only one economic field, for example when the dot-com economic bubble burst in the United States or known as the dot-com bubble.

This phenomenon has an impact on other lines of the economy to improve economic conditions, one of which is by facilitating homeownership loans. In the future, these policies and breakthroughs indirectly impacted the mortgage crisis in America in 2008.

What to do?

Startup if likened to a child is a child who is smart, agile, accomplished, and not spoiled. So being a crybaby and backing down is not a path that must be taken by a founder and his employees. However, crying will not solve the problem and the solution will not come by itself. Operational adjustments and the possibility of pivoting are the most likely options for startups in the country.

The key is “you can late but when you know the niche, you can make it” (Baidu) – Fangfang Jiang IFC International Finance Corporation.

With the expertise and experience of founders and staff who have worked at startups, I believe that the era of technology-based business will continue to grow and be able to solve problems that exist in society. The key to the success of a technology-based business is a business that can solve problems in society and have a positive impact on society. 

Hopefully, the layoffs that occur in many startups will become business lessons and open up opportunities for ex-professionals at startups to be able to build other businesses better.

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