GM started during the 1908 recession.
— Jon Erlichman (@JonErlichman) August 6, 2022
Founder Billy Durant had made a fortune making horse carriages.
There were 253 U.S. automakers.
Durant wanted one company with lots of brands.
Buick was the first (he worried it might be pronounced “Boo-ick.”)
Oldsmobile was next. pic.twitter.com/ooUWzofjFH
Kraft started during a recession in 1903.
— Jon Erlichman (@JonErlichman) August 6, 2022
James Kraft rented a wagon with a horse named Paddy.
He sold cheese to local grocers, who liked the convenience.
But it was hard to keep fresh.
He spent years working on a process for sterilizing cheese…
…hence, processed cheese. pic.twitter.com/L567bHJpNM
Goldman Sachs was founded during the recession in 1869.
— Jon Erlichman (@JonErlichman) August 6, 2022
It was a one room office.
Marcus Goldman had been a teacher.
A German immigrant, he worked as a shopkeeper before loaning money to local merchants…
…and eventually building a massive commercial paper business. pic.twitter.com/oWsfGWz6VZ
There have been lots of headlines about a recession.
— Jon Erlichman (@JonErlichman) August 6, 2022
While recessions can be tough, new
companies get started everyday.
Here are 32 well known businesses that launched during recessions…???? pic.twitter.com/rnO02I6aHu
