You know what, you are so right. In the last major economic recession, that's 2008, many fortune 500 companies were built. Kauffmann foundation did a study on it in 2009.
The companies/startups that work more in the bear market, has more probability to succeed in the future.
I think it's because these companies give people hope that everything is not going to end. Hope is a powerful factor.
Another reason is that these products/startups aren't intrinsically motivated by money. They are focused more on other factors.
Like playing for fun and earning money. Investing your time with enjoyment - splinterlands, rising star, dcity, dcrops.
Sharing your thoughts, ideas, creativity with others and earning a little bit - hive.
Also, when someone invests(time or money) in these projects, thanks to crypto, people feel somewhat ownership. So they want it to succeed.
Every insane idea about NFTs gets millions of dollars in days when it's the bull market peak.
When it's bear market, there is fear to invest in any project. Most people will sell the crypto holdings that they don't believe in.
Most people will accumulate more tokens/coins of their favourite projects.
I think the bear market is the time to observe behavioural economics. During a bull run, everyone is smart. During a bear market, you find out who's smart.
I didn't know this, but it makes a lot of sense.
The other thing is, it gives incentive for the employees, as they are able to possibly get in low to their company, attaching them more. plus, they get to feel a part of building better - they get that sense of accomplishment and ownership.
Absolutely.