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CNET News Daily Podcast: How will Web 2.0 weather current financial storm?

Economic downturn is likely to hit every sector of the U.S. economy, including the formerly frothy Silicon Valley tech industry. Rafe Needleman stops by to talk about what we can expect from Web companies.

Angel investor Ron Conway is warning his start-ups to start saving up cash and reducing costs quickly. He's not the only one who says the current economic crisis is similar and perhaps worse than the dot-com bust of 2000-2001. CNET's Rafe Needleman, editor of Webware, stops by to talk about how or if Web 2.0 companies will be able to survive in the months ahead, and which kinds of companies are in the most danger.

Also in Thursday's podcast: IBM affirms a positive outlook for the year and predicts a good quarter ahead, and Digg founder Kevin Rose sits down with CNET to talk economics and what needs to change at Digg. Plus, Apple sends an invitation to a notebook event next week, and Microsoft unveils its overhaul to Xbox Live.

Listen now: Download today's podcast

Today's stories:

The tech downturn: How long and how bad?

It's official: Apple to talk laptops on Oct. 14

Amid gloom, IBM sees sunny forecast

Getting global with Digg's Kevin Rose

Introducing the new Xbox Live 'experience'

Solid-state shift in Seagate's future