There’s not a lot to be written that hasn’t already been said last week. The Dow had its worst week in history, Silicon Valley’s vulnerabilities were revealed, and the Blue Angels have been practicing over San Francisco since Thursday, their constant flyovers making the city seem like war zone. The major epiphenomena of tech’s market crash were layoffs at prominent Valley companies, proclamations of 2.0 failure by prominent Valley voices, and viral symbol-making. As much as anything, this was the week The Proclamations Were Made:

Last week, Valleywag cut 60% of its employees, and Loïc le Meur and Robert Scoble’s blogs detailed their respective companies’ downsizing.

Michael Arrington – who is, as much as anybody, Web 2.0 – proclaimed the death of Web 2.0, while another face of 2.0, Tim O’Reilly, called on Valley developers to stop their “mad pursuit of the buck with stupider and stupider ideas."

Also last week, venture capital firm Sequoia’s “R.I.P. Good Times” presentation circulated the web (available here), and the blogosphere vented its collective fury at The Cyprus Video, which was treated both a as symbol of Valley decadence and a Journey-fueled danse macabre of the beautiful 2.0.

By Mark Alvarez