Duncan Riley

great article Steven!! (sorry about the attribution to Duncan before) - Jeremy Toeman

Heck yes, THAT is what I'm talking about Steven!! - Mona N.

It'll be interesting to watch as the economic storm washes into Silicon Valley. That's the only time we'll see who's right and who's wrong here. I'm not ALL doom and gloom, by the way. Read my blog for a little more balanced and nuanced view. - Robert Scoble

@Thanks Mona - Steven Hodson

I appreciate Robert's point of view. It's Pollyanna vs Chicken Little! I like the discussion. - Chris White

This isn't about doom and gloom or thinking positive. What Robert (and many others) have been saying is there is a possibility that the worst case here is bad. May not happen, but a wise person hopes for the best but PREPARES for the worst. Side note - this is not the bursting of the tech bubble... the problem is big and systemic. - Brian Roy

+1 Brian. I also highly recommend reading: http://krugman.blogs.nytimes.c... - Jeremy Toeman

Nice post Steven. Times will likely get tough, but the strong survive and the weak don't. It really only hastens the pop of Web 2.0. You can only go so long with so many companies without a true business plan. We'll shed wannabes and keep the diehards. - AJ Kohn

Robert: It's not about who is right or who is wrong. It's about the how and the why. Besides, Silicon Valley and technology have always been about risk. The IT industry revolves around it and history speaks for itself - Gates, Page, Brin, even Ellison for that matter. I don't know about you, but that's why I love technology. Like I keep saying, we'll see the *true* innovators shine with their... innovations. @Steven: Of course! :) - Mona N.

@Mona: +1. I'm in the tech/Internet/web industry because it's a roller coaster. People scoffed at me after getting spit out by 1.0 but I went back again because it's where the new and next things happen, and I want to be part of that. But it comes with risk - so you ride up and then down. It's the nature of the beast. - AJ Kohn

Here's a partial answer: http://scobleizer.com/2008/10/... - Robert Scoble

One other thing. Over the past week I've put up videos with a few startups. Trying to help them out. I have another one coming this afternoon. Where is Steven's videos of cool stuff coming? - Robert Scoble

Mona: it IS about who is right and wrong. It's called credibility. It's why you listen to me when I say a company rocks. It's why you don't like it when I say the economy sucks. Yes, look for the how and why too. I'm doing more reading than ever and bringing more other bloggers into your view than ever. Plus I'm talking with more CEOs than ever and watching the mainstream news at same time like what's on CNBC (who have been wrong all week long, by the way, on Fast Money). - Robert Scoble

no problem Jeremy and thanks - Steven Hodson

@Mona +1. I don't think *anyone* thinks there isn't a tough road ahead! - Jeremy Toeman

Robert: Since when does credibility equate to right and wrong? And there is no denying the economy sucks - to say different will only be delusional. What I *am* saying is this: This is the situation. We see the problem. Now how do we fix it? Running around megaphoning 'doom' is not helping the situation any. Especially since you reach hundreds of thousands of people. I don't think Fred Wilson is blowing smoke up people's asses when he said costs of start-ups are 1/10th of what it used to be. He also asks, what can we learn about capital efficiency and how "we harness this massive reduction in capital requirements to figure out how to survive and thrive in the coming downturn." http://bit.ly/3AVr2d - Mona N.

Did you ready Dave's piece by any chance? He gave examples of his personal failures and successes. He also said "being an entrepreneur is a friggin' FEAR FACTORY, and a living nightmare every day of the week. this is nothing new.  4 out of 5 small businesses fail within the first few years, and the odds aren't that much different for startups.  you are going to be embarrassed, ashamed, labeled as an idiot, shunned, ridiculed, and occasionally driven from the village with pitchforks.  on average, YOU ARE GOING TO FAIL. MULTIPLE TIMES, in NEW & INTERESTING ways." http://bit.ly/dcl0T And there are many more. So yes, I am listening to credible sources. Individuals who have been right and wrong, with proven track records of how they overcame their hurdles. - Mona N.

+1 Mona. To succeed sooner one needs to learn how to fail faster ;) - Dave Martin

Mona: credibility comes from being right more often than being wrong and from not holding back news because "it'll look bad." I just had someone email me that they are choosing to panic in private rather than in public. Oh, so that really helps anyone get to the bottom of their fears and figure out what to do? I choose to live my life out in public for better or for worse. I'd rather argue it out so we can arrive at the truth together. - Robert Scoble

Robert: It's blatant you and I have differing standpoints. I'm just glad we can have amicable discussions. It's obvious we are arguing in circles so I'm going to leave it as is. Hopefully these discussions brought to light various perspectives. (at least on FriendFeed) Now it's up the individuals reading, to consider all sides, appropriate, and apply. :) - Mona N.

Mona: there you go sounding like John McCain! Heheheh. Agreed, good conversation. I'm off to the pumpkin fields with my family too. - Robert Scoble

John McCain?! NOW you are just picking a fight!! HAHA - Mona N.

Long thread. I am more of Robert's opinion. Economic fears and speculation are all part of economic realities, contrary to what some here or eslewhere might think or say. Economic value is not only a physical asset or a tech patent. It is also a hype and speculation about it. Think Google stocks, if you are not convinced. What happens now and what happened in 9/11 in longterm is similar. - Hayk

Fantastic article. I get the feeling certain people are really hacking for a job with 0bama. - Spencer

@Thanks Spencer however I don't think they would hire a Canuck :) - Steven Hodson