Entrepreneurship

The Rise of the Next Startup Wave

John Bradley "JJ" Jackson

18 Aug 2010 • 1 min read

Back in 2009, the Kauffman Foundation reported that business start-ups hit their highest level in 14 years outpacing even the dot-com boom of 1999–2000. At the time, AOL News (who dat?) called it a surprising silver lining of the recession. But there was more going on beneath the numbers.

Traditionally, most new ventures were launched by people in their late 30s or early 40s mid-career professionals who suddenly found themselves laid off, with severance packages gone and job prospects thin. Entrepreneurship became a necessity, not a choice.

But another group quietly reshaped the landscape: recent college grads. With hiring freezes and a weak job market, many found no open doors to walk through so they built their own. Unlike their older peers, these Gen Y founders had less to lose: no mortgages, no long careers to risk, but plenty of student debt and ambition. For them, a startup wasn’t a fallback plan. It was the only path forward.

Today, history views the 2008–2010 era as the “Great Recession,” but it also seeded what might be better remembered as the Millennial Startup Boom. That spirit continues to echo in Gen Z founders today, many of whom are building companies straight out of dorm rooms, co-working spaces, and even TikTok feeds.

Economic downturns test us, but they also unlock new generations of entrepreneurs. The real question is: when the next downturn hits, who will be bold enough to seize the moment?

John Bradley Jackson