I’m at the Web 2.0 conference and the mood is a bit somber. The leading indicator of the conference is the LobbyCon (hanging out in the lobby). Compared to last year LobbyCon is falling short. I’m now sitting in the overflow area watching Larry Brilliant of Google.org.
Web 2.0 is a great event to see all the insiders. Top of mind in this event is the economy specifically the recession and online advertising.
I overheard a CEO of an ad network saying he’s trying to do revenue deals – Translation he’s dying.
Much of the bad vibe blame (of the people that I talked with) goes to Sequoia capital. One entrepreneur thinks that Sequoia put the fear out there to scare the market – note: Sequoia has fresh money hence an advantage in a scared market.