CEOs are warning of a recession. Here's what they're saying, and their advice on how to prepare.
In recent weeks, business leaders ranging from Elon Musk to David Solomon have begun sounding the alarm bell about an impending economic slowdown.
Here's what executives are saying about the possibility of a recession, and their advice on how to prepare.According to the Tesla and SpaceX CEO, the US has already entered a recession, and things are about to get worse. Musk said that a hallmark of the type of economic picture he's describing is when people are"doing things that are silly and not useful to their fellow human beings" — typically, those"bullshit companies" will go bankrupt, he said.
"Make sure you're not running things too close to the edge from a capital standpoint," he said, adding that companies need capital reserves to make it through"irrational times."Michael Kovac/Getty Imageshe told CNBC's Andrew Ross Sorkin Wednesday"There's a reasonable chance at some point that we have a recession or we have very, very slow, sluggish growth," he said.
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