Bear Markets Are For Building and Hiring from a Wider Pool of Talent

Over the last couple of months, it has become more and more apparent that we’ve entered the next bear market. With the global economy in shambles and the next Bitcoin halving nearly two years away, it appears as though we’re in it for the long haul. But bear markets aren’t all that bad, in fact bear markets are the ideal time to build, says Dion Guillaume of Gate.io.

Establishing Strong Foundations

During times of economic uncertainty, companies are forced to reevaluate their entire operations. Areas that are a drag on resources get cut and those with promise, get more attention. Bear markets emphasize the need to run an efficient operation that focuses on its strengths and solves real problems for end users. Thus establishing strong foundations for the future of the company, and the industry it aims to compete in.

Investors are less concerned about outperforming peers or raising larger funding rounds and more interested in an efficient, lean operation. In fact, it’s more difficult to raise funds during a bear market. This directly drives companies to reevaluate their entire operations, offering the opportunity to pivot in a direction that shows more promise.

Bear Markets: More Opportunities

One of the greatest benefits of a bear market is the ability to hire top-tier talent, without breaking the bank. Companies are forced to reduce their workforce, increasing the number of talented individuals looking for new opportunities. Workers are more willing to negotiate their terms of employment, to the benefit of those interested in hiring.

Over the last two years, hybrid working, or fully remote operations have seen a rise in interest and the current bear market will continue to drive this. It’s a win-win for employers and employees. Companies don’t need large physical offices, which can be a drain on resources. Employees benefit from no commutes and a more relaxed working environment, which can increase their productivity.

Bear Markets: A Wealth of Opportunity

Renowned venture capital investor, Bill Gurley, recently tweeted that now is the best time in 15 years to build a company from scratch and I wholeheartedly agree.

The opportunities offered by Web3 and the metaverse, decentralized finance and the wider crypto market are unprecedented. There’s a common misconception that crypto is all about digital money, but that’s not true.

Nearly every day, companies and countries across the world change their view on crypto, driving adoption and offering opportunities to develop the infrastructure of tomorrow. Bitcoin was developed in response to the 2008 global financial crisis, driving the development of crypto to where it is today, a trillion-dollar industry.

The current bear market and global economic crisis may end up being the driving force for the development of the next Bitcoin. Or, spurn an entirely new industry built on blockchain technology. Opportunity is all around us and now is the time to build…

About the author

Dion Guillaume is the Head of PR and Communication at Gate.io. He is also an entrepreneur, marketer, cyclist, business owner and crypto writer.

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