> Advertising and media: Marketing budgets are easy to cut fast, and media outfits dependent on those budgets feel the pain the fastest. If a recession materia

> Advertising and media: Marketing budgets are easy to cut fast, and media outfits dependent on those budgets feel the pain the fastest. If a recession materializes, it will be interesting to see what happens to the advertising revenue-reliant companies stock prices of Google, Facebook and to some degree Amazon. It will also be interesting to see what happens to the home prices in the Bay Area if salaries paid in equity in these companies are no longer going up, but going down instead.