What the 2008 Recession Tells Us About AI in an Impending Recession

In my recent blog post titled What History Teaches Us About How To Achieve Post-Coronavirus Success, I make the case that we can learn lessons from the downturns of 2000 and 2008 to navigate the current downturn and come out of it stronger and better positioned for success than before. Some of the most impactful recent technology advances emerged during economic downturns – just as artificial intelligence is emerging today – and we can learn from both positive and negative examples from those time periods.

In this video, I interview Mickey Ristroph, co-founder and former CEO of Mutual Mobile, a company that launched at the start of the mobile era and helped companies ride the mobile wave during and after the crash of 2008. In my talk, Mickey and I tease out the lessons from 2008 out to help guide today’s business leaders on both why and how to think about investing forward in artificial intelligence today.

Mickey’s daughter – who looks very mobile (pun intended) – even makes a cameo appearance!

One of the many insightful points Mickey makes is around why it’s important to be thinking about investing in AI for your business tomorrow despite being worried about your business today.  Drawing on his experiences, Mickey observes that if during a downturn you are just trying to rebuild your business back to what it was before the crisis that you are likely not pursuing the right strategy. He challenges business leaders to ask if they imagine a new and better way for your business to come back as the basis of competition is always evolving.

I’d welcome your feedback on Mickey’s insights and look forward to hearing from you.

-Stephen Straus

Co-founder and Managing Director, KUNGFU.AI