I think in the broader sense this is true and there are some concrete advantages to starting in the midst of a (normal) downturn. As usual there are exceptions

I think in the broader sense this is true and there are some concrete advantages to starting in the midst of a (normal) downturn. As usual there are exceptions to the rule. In particular, you should be wary of starting a business in a sector or industry in a recession that is caused by broader macroeconomic trends that may not be short lived. For example, right now I’d be extremely hesitant to start a company in the oil and gas industry. That sector has been in a recession pretty much continuously since 2014, and was in bad shape before the pandemic hit. It will likely stay depressed for a few more years. The other thing I would caution against is starting a company today based on the perceived change in the world due to Covid. As vaccines and therapies are coming online it’s becoming clear that we are likely headed for one of the best possible outcomes. A lot of people have convinced themselves that Covid has permanently changed things and I think they’re going to be shocked when the world goes pretty much back to the way it was in a year or so.