Potential Obstacles, page-28

This a good point that is worth revisiting.

Recessions hit discretionary spending first and BIG would certainly be susceptible to that, as would a large chunk of the stock market that basically isn't defensive or consumer staples related.

From an economic standpoint however retail and hospitality figures bounced back better than expected in Oz for the first half of this cal year and are predicted to hold well so I see that as a good environment for BIG to thrive in near term.

The fact that they are already expanding into OS markets is a key way of mitigating localised down turns. I see the EU as a solid growth market (they've been though the fire now) and USA seems to be fairing well. Then there are other economies that are showing signs of recovery such as Japan. China is holding growth well, but that I think is a tough market for BIG to enter based on the Great Firewall of China policy. A broad global customer base combined with SaaS price modelling are important mitigations here for sure.