Web 2.0 companies see layoffs in wake of credit crisis
mtippett | October 20, 2008 at 08:40 amby
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Last week, Sequoia Capital and Silicon Valley investor Ron Conway began advising their portfolio companies that they'd have to start cutting costs and showing a path to profitability if they hope to survive today's uncertain economic times. Well, it appears several startups have begun taking that advice.
As someone who owns a Fucked Company T shirt and saw the pink slip parties in NYC after the last tech bubble burst this is not new. What is new, though is the speed and severity of the cuts. This is not a cyclical downturn. This is something different.
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