This is a good observation about the macro economy in Silicon Valley but the activity level for early-stage startups is now strong and getting stronger (VC-fund

This is a good observation about the macro economy in Silicon Valley but the activity level for early-stage startups is now strong and getting stronger (VC-funded startups still lag) - for the right startups, this is a very good time to launch and develop in anticipation of an eventual recovery. Agree with your point that the broad recovery is still quite a ways off (lesson for startups: don't get overextended in the short term as you build).