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Ask HN: How bad will the 2020 economic crisis be?
I run a ~40ppl business in Europe (Fr & UK).
While young and in a trendy sector, we aren't a startup, in that we invested a lot in being profitable and using our profits to fund our growth. I'm trying to get a sense of what's to come.
Our revenue this week is down 20x compared to the average of the past 4 weeks. In France, many local businesses are basically down to 0 turnover.
We can read here and there that the economic downfall will be worst than the 1929 crash. What will be the chain of events? How bad unemployment can get? Should we expect the real estate market to crash too? In 1929, what kind of businesses were affected the most, should we expect something similar here?