Not sure about innovation, but it does seem like there's far better signal/noise ration during recession. When the market's booming, weak ideas and uncommitted

Not sure about innovation, but it does seem like there's far better signal/noise ration during recession. When the market's booming, weak ideas and uncommitted teams naturally find it much easier to get some funding - so perhaps the good ideas/teams are just as many (or more) as in a recession, but their overall share is far smaller.