Venture capital dries up

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As the economy worsens, funding for new technology companies has grown scarce. Venture capital firm Sequoia Ventures, which backed Google among other companies, has warned Silicon Valley firms to cut expenses and expect a protracted downturn.

New companies hunting for investors are out of luck, but established firms that have already secured venture funding are in better shape, according to Matt Marshall, founder of VentureBeat.

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