Tim Draper gives Survival 2010 tips

1. Do those things you wanted to do anyway - such as letting certain people go 2. Redirect your business to take advantage of this opportunity 3. Scale back if it means staying in business or consider a whole new business based on this opportunity 4. Crisis like this flattens the whole economy giving rise to new businesses and new ideas that will pull it out 5. There are opportunities now for individuals to grab huge markets 6. View it as a unique opportunity rather than a problem

So what does Tim think will pull us out of this economic downturn?

He believes that the new Obama administration will focus on a feww specific areas of healthcare, clean tech and unions. So entrepreneurs in these areas will certainly have an advantage.

In IT or communications, a natural next step is for social networks to get adapted into corporate networks, presenting an opportunity there.

The emerging world of iPhone and Blackberry provides a great new platform for software designers to design to and build new applications.

He's enamored and remains bullish on the electric car.