Sacrifices are clearly having to be made. California is going to have a slowdown but there is a great difference between a slowdown and a recession. Eric Savitz, executive editor of the Industry Standard, the San Francisco-based magazine of the internet economy that is famous for its Friday night parties, shares his view. It's going to be a bit of a difficult period for technology companies and there is going to be a more rational approach to valuing new companies. I think that's healthy.
People are more cautious now.
There is a new sobriety. Classic US approach, think positive, which may work for the select few in Silicon Valley. The rest of the world never really made it to the party anyway and would be advised to further distance themselves from it if they want to avoid the job of cleaning up the morning-after. .