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Silicon Valley in survival mode - and virtual worlds?
Leading venture capitalists are inciting Silicon Valley companies to switch to survival tactics. Om Malik on GigaOm writes that
Sequoia Capital, arguably the smartest venture capital investor in business, is sounding the alarm and asking its portfolio companies to buckle down for what could be the worst economic downturn of their relatively short lives.
GigaOm is not the only one to report these developments. Mike Arrington at TechCrunch reports that angel investor Ron Conway, who has backed start-ups such as Google, sent a letter to his portfolio companies suggesting they lower their burn rates.
Are the prospects for the Valley, for web2.0 and virtual worlds companies gloomy?
