eBay is laying off people, poised to cut 1,500 jobs, or 10% of its workforce globally; read more here.
Yahoo! is too, up to 20%, apparently.
Gawker fired 19 out of 133 folks in editorial.
Startups are being shut down, too, because they cannot raise more money. When a VC has funded you, sadly, it’s up to them if you can raise more money. If they don’t want to, no matter what you think, you might be out of luck.
Funded startups are asked to cut expenses: look at B5 Media, for example.
It does not get better: the archetypical angel investor, Ron Conway (who never really met a startup he didn’t like) is ringing warning bells. Yikes!
Could it get any worst? Not sure… it probably can, and will. The problem is simple: everything around us on the Web is ad-supported… and most of the startups won’t generate much by way of ads. The problem on this last point here has to do with both the projects entrepreneurs launched and the projects the VCs funded. I blame both parties… frankly. If the VCs put money in more sound and less faddish projects, they would not be reliant solely on VC, they would have revenue and profits to show, and exits would continue to exist. Unfortunately, this is not the case.
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