Will the Economy Ever Turn Up?

Ok, I'm Starting to Freak...

I can't put my finger on it. But in the last week, I've suddenly started to freak out about the economy. Suddenly I'm convinced we're in for years and years of pain, and Mr. Lacy and I will be lucky to keep either of our jobs, our house, our car....wait....we have a shitty car that's paid off. Still, that's the kind of irrational panic I'm talking about.

OK, so why wasn't I more panicked, say, when the rest of the world was? It's the difference between clinically as a reporter seeing how bad things were likely to get and processing the panic on an emotional level. Plus, as a business reporter I can't really invest in individual stocks, so the Wall Street stuff wasn't hitting home the same way. And we have a pretty sane mortgage on a house that according to recent comps hasn't deteriorated in value since we bought it. And as a contractor, I have some idea of what I'm making through the next year, barring any huge tragedies. Also, as a contractor, my revenues are pretty diversified between a few sources. I could lose one of my jobs and it'd be rough, but still be OK. And frankly, having weathered the dot com bust in San Francisco at a time when Mr. Lacy and I were far more junior in our careers and unconnected in the Valley, I felt like it might not be pleasant but we *could* weather anything. And if we did, hey, we'd be better off on the other side. Volatility equals opportunity right? Plus, I have a few cool new projects I'm working on that generally have me super upbeat.

Did something happen to cause this sudden change? Not really. In fact, Mr. Lacy avoided any layoffs (unless things get far worse) and I avoided one at Yahoo (ditto previous parenthetical) and got my BW contract renewed. (They have a fetish for late columns perhaps?) Maybe it was seeing so much other carnage around me, as thousands of others lost their jobs last week, but I've somehow lost the ability to be rational about it all. Hey, isn't that a sign of a bottom? Please? I had such a mini-meltdown midday that Geoff sent me this:

Hangintheregif757240

Elsewhere in the world of cute animals, this site is the only thing that cheered me up amid my odd Wednesday economic panic. Isn't it funny how a down economy makes us so cynical that the animal-picture-meme-du-jour has even turned in angrily on itself? Whoever writes that blog, you're my new recession buddy. Please keep posting pictures of animals trying too hard to look cute and mocking them so I can make it on days like today.

Comments

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Sarah, some of us will survive, and some of us will be much more learned. I was in this same market when the last R hit...had two cars and rent to pay et al...little did we realize that the word R turns to D this time around...and we are here launching our own web 2.0 company this week - no salary, mortgage etc...have done it this far, will possibly be able to manage. Your post does give me goose bumps. Good luck to all of us, and wish someone can bail the world out of this.

Sarah, I bought your book. You should be fine. Besides, when the movie rights are sold you'll be rich beyond your wildest dreams. Just remember the little people.

I am a freelancer in a completely different arena (film and TV) and in a different continent (UK). But I've been having the same delayed panics over the past few weeks. Being freelance, I'm used to the feast-and-famine thing already so, in theory, I should be far less concerned about recession than people with regular jobs/mortgages/school fees etc. I have work coming up, so I should be fine in at least the medium term. I think the reason I started to panic as because people I know have started to lose their jobs. That must have brought the problem out from the TV screen and into my life.

I'm glad to find someone having a similar experience. Your website is great and you are one of the most gifted writers in your field. I don't think you have anything to worry about.

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Srah Lacy

Sarah Lacy is an award-winning reporter who has covered high-growth entrepreneurship for more than fifteen years. She is the founder, CEO and Editor-in-Chief of PandoDaily.com, the site-of-record for the startup ecosystem. She lives in San Francisco.

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