How Tim Chen, the founder of NerdWallet, worked up the nerve to start a company after getting laid off during a recession.
Tim Chen had recently been laid off from his job as a financial analyst at a hedge fund, during the recession of 2008, when his sister asked him for help finding a good credit card. Much of the information he found online was confusing and disorganized, so he decided to start a personal-finance website; it would go on to become NerdWallet, which is now worth $500 million and employs almost 350 people. Lola Fadulu recently spoke with Chen about how it feels to get laid off, starting a business during a recession, and why workers should pay attention to who their managers are. This interview has been lightly edited and condensed for length and clarity. Citation: 'When Losing Your Job Is a Blessing'
Interview by Lola Fadulu via The Atlantic
When Losing Your Job Is a Blessing
Fadulu: The way you grew up was very different from the way your parents grew up. Chen: Until 2008, I thought that the economy was this super-stable thing, and everything was good. I didn't realize that crazy economic shocks can happen. 2008 really changed my life.
Stumbling Onto an Idea: “I always dreamed of doing something entrepreneurial. I just never felt like I had the permission to.”— Tim Chen
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