After my first lay off, I got a job at Sun Microsystems in 1999. I was able to buy a house. After my second lay off from Sun in 2007, I was able to receive a significant promotion as a director. After my third lay off in 2017, I was able to find a great opportunity at Walmart where I no longer have management responsibilities.
If I hadn't lined up my next job so quickly, I definitely would have started my own company or consulting business. The most important thing is to believe in yourself, stay current, and prepare to ride the next wave in technology. :-)