Everyone who works in the start-up realm — whether tech, biotech, cleantech, or other — tends to live in the future. All day long, they're working on products that will be launched and sold in a month or a year or a decade. So when the stock market soars or swoons, they tend to ignore it. "That's today's news. We're tomorrow's," the thinking goes, no matter how many points the Dow has lost.
Of course, vertiginous plunges in the public markets do tend to have an affect on young companies that need to continually raise venture capital money, and hope to one day go public themselves or be acquired by a bigger entity — as we saw in 2000 and 2008. They're bad news.
But here's how the various players in the innovation economy rationalize away stock market drops and other macro-economic bad mojo...
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Author: Scott Kirsner
