[quaz3l]

Why is that? There is less money in circulation, so less chance you'll get any. Are they making wiser choices? So if you're company is a wise choice you'll get funding?

[cocktailpeanuts]

You don't need funding to build a great company. In fact most great companies started out without huge funding.

[kqr2]

Perhaps he is referring to Paul Graham's essay Why To Start A Startup In A Bad Economy :

http://paulgraham.com/badeconomy.html