[kingkongrevenge]

> it's important to work on things you care about; even in downturns

This does not mean it makes sense to naively proceed with plans based on the status quo, which is a common sentiment on this board. Advertising and media get slammed in real recessions (2001 wasn't one), which is rather disastrous for Web2.0 as I understand it. Opportunity, or at least security, is largely limited to the non-discretionary side of the economy.

I read PG saying you should ignore recessions because nobody can time them. Well, that's just not true. People with solid macro-economic grounding have always understood roughly where we are in the business cycle. If you rely on the newspapers and NBER pronouncements for your understanding of the economy you will have the impression that it's all guesswork, but that only reflects on MSM incompetence and conflict of interest with advertisers.