Venture capital funding in Southern California falls off a cliff | Technology | Los Angeles Times

"Tony Katz had big hopes for his Porter Ranch company, Aweli, when he first started looking for venture funding in late 2007. He was sure its method of monetizing online videos would appeal to investors.
Twelve months later, he's kind of given up.
"There's no math that we can do that in this economy that shows it making sense to go after venture money," he said. Instead, he's trying to run the company on existing cash. "As we see it, if you can’t run a company on the dollars that you have, you don’t have a company. Those days are over.""