In the immortal words of Mr Schrute, "false."

Profitability depends on a network of flowing capital. When the input (e.g. of venture funding) dry up, profits will vanish in a shockwave.

That is dramatically true for companies whose business model is to provide services and products for either other companies in the network...

...but also for those catering to their employees.

IMHO a lot of 'problems' which seemed to cry out for an 'app' solution are going to turn out to be first world problems no longer pressing when the economy turns.

Then there's the fact that there are a lot of ugly weather patterns nationally and globally brewing...

Hold on, Toto!

Exactly, and this is especially true for companies that are disrupting existing players by being more efficient (e.g., I would expect more travelers to turn to AirBnB during a recession as a cheaper alternative to a hotel, even if overall travel goes down).