Startups souring?

Eric Savitz from Barrons Blog comments on Trip Chowdhry’s Silicon Scoop: Almost every Silicon Valley company is facing deteriorating business conditions and will cut their workforce by 3%-10% by year end. Project cancellations are accelerating in almost every vertical, including financial services, retail, transportation and public sector. “Many startups are starting to fold.” He contends … Continue reading “Startups souring?”

Eric Savitz from Barrons Blog comments on Trip Chowdhry’s Silicon Scoop:

Almost every Silicon Valley company is facing deteriorating business conditions and will cut their workforce by 3%-10% by year end.
Project cancellations are accelerating in almost every vertical, including financial services, retail, transportation and public sector.
“Many startups are starting to fold.” He contends that “almost every” VC funded open-source company is struggling and will run out of funds within the next 6 months. He also says that “many VC funded Web 2.0 companies are shutting down…the Web 2.0 fad is now coming to an end.” He has a similarly dark view on the prospects for software as a service start-ups.

Is it a good time to start up?

Based on what I can see it’s actually a good time to startup, venture capitalists be damned!

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