Salad Days Over In The Valley

Things aren’t looking so good in Silicon Valley these days. As the US economy adjusts to recession, funding for ventures is down, stock prices are falling, and online tabloids have to let go even their decadent Valley prostitution reporters.

New York Times’ Brad Stone and Claire Cain Miller don’t want you to panic or anything, but “a pall of anxiety seems to be spreading over the land.”

Cue spooky music and soliloquy by Vincent Price.

Noticeably, financial services and automakers are pulling back advertising, and at the top of every web startup’s mind is the trimming of the ol’ budget. Looks like those salad days are at least put on hold for a while, at least until the credit crunch subsides.