Blogging at Web 2.0 Conference – LobbyCon Is A Ghost Town – Mood is Glum – Sequoia Is To Blame

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.

Author: John

Entrepreneur living in Palo Alto California and the Founder of SiliconANGLE Media

1 thought on “Blogging at Web 2.0 Conference – LobbyCon Is A Ghost Town – Mood is Glum – Sequoia Is To Blame”

  1. Great report from the field. Thanks, John. For the VC’s, the problem is not the economy itself and how it affects their portfolio companies but rather how a bad economy is affecting the potential acquiring companies such that there is no M&A opportunities and they are stuck with a lot of inventories (i.e., startups) with no exit strategy. Cutting burn rate and extending run rate is the only way to keep these companies alive. Sequoia is not part of a conspiracy. Thinking so is giving them too much credit. VC’s don’t buy low and sell high. They buy high and sell higher. It is the trend line that scares them.

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