When one of the most successful entrepreneur says stuff like this, There must be some truth to it.
His company deals in e-commerce but he is saying - have some cash and delay some of the new purchases.
I’m not sure if this advice is applicable to us Indians this time around as India is growing well and may continue to do so for some years to come, but its tough to see Indian entrepreneurs say something like this
In the American economy, people need to advise each other to save before a recession.
In the Indian economy, people are advised to save in a recession and in boom markets.
Was just about to add this bit - from what I am reading, rate hikes will keep going on for a while. Fed also was vocal that rate hikes will go on until inflation is under control, that means around 3-4% (compared to previous 2%).