Monday, September 15, 2008
Dear Web 2.0: It’s Still the Economy, Stupid!
Last week, one of the things that struck me about the coverage of the two main tech conferences devoted to start-ups, DEMOfall and TechCrunch50, was the almost complete lack of discussion–or, more appropriately, worry–about the troubled economy.
This, even though the subprime mortgage crisis remains in full swing, along with the continuing turmoil around the stability of Wall Street financial firms, as well as Fannie Mae and Freddie Mac. Also, let’s not forget those sky-high gas prices.
The situation has worsened this past weekend with more dangerous developments in the financial sector, which eventually means that the popular Web 2.0 maxim of “growth before profits” is also in for a very bumpy ride.
