An Ignoble But Much Needed End To Web 2.0, Marked By A Party In Cyprus

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. So what exactly just ended? Easy capital to start. And that means already funded companies are going to tighten their belts in a big way, per the request/demand of venture capitalists like Sequoia Capital, Benchmark Capital and Ron Conway.