The e-learning industry is privately musing over what would happen to their industry if an economic slowdown did happen. The author addresses these musings without talking into a recession. Like the share market crashes, slowdowns seem to come around faster in the UK than they used to. In such slowdowns, "for profit" organizations try to maintain profit levels by focusing on what they believe drives value in their organization at the same time as cutting non-value adding expenditure. When reviewing the training budget, positive future-focused managers would be looking to increase the level of effective training without increasing current costs. "Cost-effective" will be everyone's watchword. So for mature users of e-learning, they will spend more on immersive learning simulations which are getting much cheaper due to the availability of simulation software engines. Overall, in any downturn, managers will be even more conscious of cost-effectiveness in learning.