In May 2007 I wrote “Times are good, money is flowing, and Silicon Valley sucks” in a post about how, in my opinion, Silicon Valley was ripe for a downturn.
This week, without any doubt, we got that downturn. It was different from the last downturn in that it wasn’t driven by the crazy bullishness of Silicon Valley venture capitalists and investment banks. This time, Wall Street and our government screwed everything up all on their own while we minded our own business and acquired our own instead of going public at crazy valuations.
http://www.techcrunch.com/2008/10/10/an-ignoble-but-much-needed-end-to-web-20/
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