I don't think it has much to do with the economy. The desperation comes from the fact that the seed funding business is national. I explained the dynamics her

I don't think it has much to do with the economy. The desperation comes from the fact that the seed funding business is national. I explained the dynamics here: http://news.ycombinator.com/item?id=528924 http://news.ycombinator.com/item?id=528924