A lot of very smart people I read were talking about an article that came out from Marc Andreessen (co-writer of Mosaic browser, and all-around smart VC guy) saying that now was the time to build. The argument is obvious: when things are down, smart money takes the opportunity to surf the new wave of change, and the only way to be ready for that wave is to have the idea/business/product/model/function started before the water swells.