Adam Lasnik

Hugs don't matter in this economy. Money does. Send him $10 and say "thanks for everything you do." That'll get him into a better mood. - Robert Scoble

Robert, maybe I'm being callous or even just simply wrong, but I don't think money is the issue here, or -- at minimum -- I don't think Michael is going to be heading to a soup kitchen anytime soon. I honestly think he's a workaholic that gets angry when others are not (by his view) taking this downturn seriously enough. Problem is, by this thinking, people should work 80 hour weeks when times are booming and work 80 hour weeks when times are lean. That's neither sustainable nor desirable. - Adam Lasnik

With that said, I agree with part of your point: we all are too quick to wag our fingers at others or criticize folks' efforts and, IMHO, not quick enough to send a quick handwritten note to people saying "you rock! I have loved your last posts" or whatever. - Adam Lasnik

Life is too long to complain all the time ;) - Dave Hussein Martin

And life is too short to complain all the time. ;) - Mona N.

Well, according to one of his latest posts when all the marketers leave Silicon Valley it will return to a beautiful oasis. Isn't this the land of entrepreneurs? The Wild West of business? The bootstrappers? The folks who weathered the 1.0 collapse? You'd think someone forcibly took iPhones away from everyone! Times get tough, the smart and strong survive, the weak don't. It's not fun, but you don't have a right to fun all the time. - AJ Kohn

Adapt or die, work hard, follow your bliss, make a difference, go for greatness but please in the meantime stfu with all the negative energy it's not very becoming - Dave Hussein Martin

Adam: the first to feel how good or bad things are are those in the media. I agree with Michael. This is a lot worse than many understand and people need to prepare for a long and deep downturn that takes customers off the street. I look at it as a big storm. Some trees will topple. Others will stand tall. - Robert Scoble

Those media folks that made it through the ad recession of 91 will recall the effective solution was to stop wasting time trying to get better and invest time and resources into getting different. The future is not an echo of the past. Things change and change is good. This correction is a time of incredible opportunity. To take advantage of this moment requires the right attitude. - Dave Hussein Martin

Dave: it also requires jumping into the opportunity at the right moment. If you had bought stock on Monday you would be 18% down right now. So, if you are going to win you've got to pick your timing very carefully. - Robert Scoble

Robert: no one can time the market. You must make your own opportunities and be responsible for your actions. The most difficult things, imo, are facing reality as it is, not as it was or as you wish it to be and having the courage to be decisive. Having a bias for action gives one an edge. You win some, you lose some but you're in the game and you can't win unless you play. - Dave Hussein Martin

Robert: You must dollar cost average back in... anyone who places big bets on a specific bottom is really asking for it. Personally I'm beginning my buying starting at 7800 (to be honest last weekend I said 8500... so I've revised down). - Brian roy

Brian: I agree with that strategy. I'm increasing my 401k investments into stock too. I don't need the money for 20 years and the market tells us that'll be a good move long term. - Robert Scoble

Catching a bottom is hard; but being within 10 per cent of a bottom will still make you money if you star in. There has been no 10 year period where the stock market didn't go up, even around the Great Depression. Get in near the bottom and sell near the top and you will he very profitable. - Robert Hafer

Robert: the thing is this market still has some pain in front of it. It also probably won't come back quickly. So you have time to get back in. - Robert Scoble

I'm like smart people who speak their minds even if i don't always agree with them. I appreciate anybody in the market like this. - Patricia

I think you have to watch the market over time. For example, it appears that an Obama win has already been factored into the market. In McCain wins, there will be a big rally, but it probably won't signal a turn around. - Robert Hafer

Sit on your stocks now, don't sell. With existing and new money, put some of it into stocks, as they are bargains now. But there's enough volatility to require a healthy chunk of cash. As for "being worse than a lot of people understand"...probably true, but even if you did understand, what would one do? Still have to go to work, still have to feed your kids, still have to cover the mortgage. - Hutch Carpenter

Hutch: what can you do? Well, certainly getting ready for a downturn doesn't mean there's nothing you can do. Me? I've put off pulling the trigger on some big projects I need to do at home. I've made sure I have enough cash to survive a few months, at least, in case I'm laid off. I've cut back on expenses. Etc. Business wise, I am making sure I'm "core to the business" and not easily outsourced. Health wise, I'm trying to get more sleep and take more "health breaks." Etc. - Robert Scoble

Okay, we can perhaps all agree on this: Work hard. Don't lose site of the *non-work* and non-money stuff that's important in the grand scheme of things. Smile. Help those less fortunate than yourself. Move forward with confidence and purpose and for the love of dog stop the whining. - Adam Lasnik

Adam: who is whining? Do you consider a weatherperson who says over and over "a big storm is coming" to be "whining?" I don't. I think it's just "sounding the alarm." Hey, and anyway, if someone is saying something you don't like you can just hit "hide" here. Telling the messenger to shut up is just, well, wrong. - Robert Scoble

Robert the difference is that the way people feel about a storm doesn't affect it - Robert Hafer

I'd love to buy something like DOW or MAT, but I don't know enough to be able to tell what exposure they specifically have to the financial situation. These are obviously great prices for a long-term investment in stable companies that actually make things, if you know the company isn't going to go bust in the next 6 months. - Alex Power

Robert: ABC just reported that the World Bank is saying that the financial system is very close to global collapse. This is a Category 5 Hurricane and, you're right, nothing we all say will affect the storm at all and people here think I'm being too negative. Wow, I haven't said ANYTHING close to as negative as that! - Robert Scoble

Robert - hear you on the things that can be done. Holding off on big outlays seems prudent. Being indispensible at work...interesting thought. Shouldn't that be a goal regardless of economic conditions? Perhaps people need to "suck it up" more for tasks they don't like at work. - Hutch Carpenter

Hey Robert, I'm not disagreeing with you as much as you think, and the whining comment wasn't directed towards you (it was pointed at Arrington, for making scapegoats out of the vacationing peeps in Cyprus). I think it's smart to be cautious and to thoughtfully inform others. There's a difference between that (what I think you're doing) and fear-mongering / scapegoating. - Adam Lasnik

@Adam: +1. Well put in that last sentence. - AJ Kohn

A large component of this down turn is fear. People who feed and amplify the fear can make their predictions come true. - Robert Hafer

Robert: well, nothing anyone has said on FriendFeed has made me more fearful. What the World Bank is saying today is totally freaking me out and nothing you say can make me less fearful. - Robert Scoble

The folks at the WB don't have a crystal ball. They do have alot of knowledge and experience. They may also have an agenda. I would wait for real numbers, like third quarter GDP and some more Corp. earnings, before moving to a bunker in the woods. - Robert Hafer

Robert: I'm not THAT fearful. :-) - Robert Scoble

Really, Robert? Global collapse? Do you even understand why they said that or what their motive is? Do you understand any of the news your propagating? If it's true, then Robert Hafer's suggestion is legitimate - we all just quit, because if we have no monetary system, all business is pointless. If it's not true, then why the hell are you spreading FUD? - Mark "Rizzn" Hopkins

Mark: I'm just reporting what ABC Radio is reporting. Not adding or subtracting anything. Spreading FUD? It's already spread. So now, like you, I'm trying to figure out the truth. I'm not learning anything new here, though. Maybe I should turn off the social media and go back to CNBC. Oh, wait, they aren't very accurate either. - Robert Scoble

Exactly! You're reporting what you're hearing, and adding to the deluge of negative spin. It's not helping, because you're not saying this to inform, you're doing this to add backup to your defeatist worldview that you're propogating here. If you were talking about why you thought the WB was right or wrong, or what some expert you know said about it, that would be one thing. But you're not. You're just trying to paint a dire picture. It isn't helpful to anyone. - Mark "Rizzn" Hopkins

.. to continue... Robert, you were at the WEF, were you not? Did you not make any useful contacts you could call right now? Can't you shoot an interview with someone that has some insight and ability to explain this to the rest of us? I don't care if it's six hours long, I bet most of us would sit through it. Parroting the parrots on ABC/CNBC isn't doing any of us any good. - Mark "Rizzn" Hopkins

Mark: I'm working on it. Most of the people I am talking with are actually more alarmist than I have been in public. Also, most don't want to tell the truth of how scared they are on camera. Most are like Jeremy Toeman: they believe in showing a stiff upper lip in public and talking about their fears in private because they assume that talking about their fears will worsen the situation. Me? I'd rather talk about my fears in public, I believe that helps us all get over our fears faster and get to work. - Robert Scoble

It just seems to me that -- even though I hugely value education (for myself and for others, especially those who have been disadvantaged) -- the better way to support this is to donate to organizations that more broadly support educational initiatives, rather than pledging money directly to a specific university (e.g., my alma maters). So every year now, I turn down requests from my alma maters; just can't see them as comparatively important. Your thoughts? - Adam Lasnik

@Adam: A life member? That sounds like the Alumni Association which is not the same since they usually don't provide much in the way of support to a University. Annual Fund donations usually do and you know it's going to help current and future students. I view education as hugely important, though I believe N-5 is perhaps the most important. The thing to look at is the % of the donation going to the effort - a lot non-profits don't do this well, while Universities actually do. - AJ Kohn

Edythe, thanks :) And AJ Kohn, you're right... I have lifetime memberships for the Alum associations of both universities. I'm curious to know how you've learned about the contrasting effectiveness of Annual Fund donations vs. donating to educational non-profits. Or are you just suggesting that the level of disclosure (of % funds going to the cause) is different? - Adam Lasnik

@Adam: I worked in University fundraising for 8+ years, and most universities, particularly public, divulge the %. Donors have gotten more vigilant and so the programs have become very lean to ensure a high %, thus helping increase donations. Just look at one of the charity sites to see what % really gets to the cause for each non-profit. It's often, sadly, quite low. - AJ Kohn

[cont] AA participation is great, but they are separate entities and provide value in exchange for the 'donation'. As an old Annual Fund guy I had to explain to prospective donors the difference and why a gift to the Annual Fund would do more good than Association membership. That's not particularly easy since I was asking for a pure donation versus getting something for your money. The upside, I became a very astute direct marketer! - AJ Kohn

[cont] I failed to mention the real kicker. Universities have a limited set of people to solicit and thus are held a bit more accountable. They can't just troll the world for donations, it's Alumni or Parents. The non-profits are a bit less accountable because they can attract anyone interested in the cause. That's my take at least. - AJ Kohn