Every business, from small start-ups to the largest tech companies in the world, is preparing for a challenging year. For many large, unprofitable start-ups, this will be the first true test of whether their businesses can withstand a downturn. Many of the industry’s most prominent start-up “unicorns,” including Uber, Airbnb and WeWork, have long boasted that they were born in the recession of 2008-09. This past week, the company made its refund policy more flexible to encourage people to book travel. But it further strains these money-losing businesses when they’re already under pressure to show investors they can turn a profit.

Source: New York Times March 13, 2020 13:00 UTC