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The entire stock market is down and Google is no exception. I was in San Jose last week and people seemed genuinely happy that Google millionaires were struggling. There seems to be little love lost for Google folks. That's what happens when one company becomes so succesful. See Microsoft, Cisco, Siebel, etc.
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This is the PPT presentation delivered to all the portfolio company CEOs. Sequoia has been through downturns (albeit not quite like this one). There insights are worth reviewing for start-ups, SMBs and larger enterprise.
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Newspapers are digesting some really bad news: the growth in online advertising they saw as their salvation has slowed to a crawl, according to this NY Times article. Subscriptions are going to take a hit with the recession. More people will go online — or to their mobile device — for their news and information. If more eyeballs does not equal more revenue that's a problem that's tough to solve.
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Gartner had expected IT budgets to grow 3.3 percent in 2009. That would be fantastic considering what's going on with the economy. My guess is companies HAVE TO SPEND about 3 percent to keep their IT up and running. Major IT investments are likely on hold.
13 October 2008
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