London, Oct 31: The global economy is headed for a "pretty serious recession" that could leave some major household name websites floundering, however, there won’t be any bloodbath, says the founder of Wikipedia, a well-known online encyclopedia.
Jimmy Wales believes that the Internet and technology companies will suffer a "serious downturn" that will hit websites that are heavily reliant on advertising.
"It won''t be a 10pc collapse which kills everybody, but [advertising revenue] is going to drop and that is going to hurt people, a lot of marginal players are going to have serious problems,” the Telegraph quoted him, as saying.