"While I anticipated and prepared for the 'internet winter' we're now facing (you've read my posts and e-mails about the startup depression I'm sure), I failed to realize how bad the situation would get. It's much worse than I thought it would be, and ignoring market conditions today would only mean deeper cuts down the road."
--Jason Calcanis, blogging (!) about laying off 10% of the Mahalo staff and the cash that will provide.