A cheat sheet for the next tech downturn


A lasting market downturn is unlikely to knock the tech industry from its perch at the top of American business, but it would reshape the tech world’s dynamics in profound ways.

Driving the news: The last big recession to hit Silicon Valley bottomed out 20 years ago, and last week’s stock market carnage has tech’s leaders and footsoldiers digging through their memory attics to remember what that feels like.

Here’s a cheat sheet for them and you:

The big companies will be just fine, thanks to enormous financial cushions. In past recessions, tech giants have continued to invest in fundamental

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