The idea that there is ever a bad time to do a startup is ridiculous. There are horrible times to attempt an exit. During the crash would be one of them.

Now might be a bad time to do a start up that deals with sub prime mortgage backed "securities"... ;)

Seriously, though... the idea is the key, not the "time"

People have been trying to raise money for distressed debt funds since mid-2007. One of these times they could get the timing right, although investor cash might be drying up for them.

The execution is key, not necessarily the idea :). Ideas often change drastically once you get started.

I think the point he almost makes about there not being many jobs anyway is a good one. when there are lots of well paying jobs, there is social pressure to take one.

When things are quiet, there is less of that pressure to go get a nice job, and you can take your time (kind of forced to).

I think someone else mentioned it here as "someone else moved your cheese" - I like that.

Obligatory it's UNDER 9000 post.