Then all of us who went through the dotcom crash (I started my hosting and colocation company in 1999) are well suited to survive this crash.

I was telling a friend that a slowdown in the economy is the best time to hack because no one is pressuring you to make money and implement <insert catchphrase>.

A recession may actually be good because I'm guessing the true believers will stick through with it and the next evolution of the web will come out of it.

More generally, life in a recession's actually not too bad. It's the adjusting to it that is hard, but that goes for adjusting to anything.

This is a good place to repeat one of the most interesting comments I've seen on YC News: http://news.ycombinator.com/item?id=40558

"The 1930s are often seen as the "golden age" of the motion picture, because no matter how hard up they were for cash, people still went out to the movies. Walt Disney got his start then. Bootleggers and bordellos also did well during the 1930s."

Stephen Roach of Morgan Stanley is a notorious pessimist.

For the record, I agree with almost everything he says here, though.

Well then at least it probably won't be worse than the articles take.

:-)