Spring Comes Early To Silicon Valley

A venture capitalist explains why rotten news will help fertilize future growth

One statistic is missing from the slew of data published about the state of the U.S. economy. It is the length of the commute between San Francisco and Silicon Valley. Since last fall, when the layoffs began in the valley, this journey, which I have been making twice a day for the past 15 years, has started to shorten.

There are plenty of signs of the shockingly sudden economic slowdown during my commute. The radio isn't filled with the hopeful jingles of Internet retailers, and I can almost always get a cell-phone circuit. Some of the signs are just that--vacancy signs...

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