But the survivors became some of the biggest and most profitable companies on the planet: Google, Amazon, Ebay/Paypal. And of course, the people selling shovels always do well in a rush (Apple, Adobe, etc).
From the big short (and a bunch of introductory macroeconomics classes:)
"For every 1% that unemployment rises, 40,000 people die."
There are consequences to people running big companies like they’re playing poker.