Despite the thousands of layoffs and the likelihood of the state being broke , the bright side of everything is that it just means there’s a lot more people bored and online ready to try your startup. Allen Stern of CenterNetworks points out the real loser here is Federated Media and their diminishing grasp on advertising networks. - Wall Street Journal editor The morning’s fresh and it’s a start of a great week! Some important stuff around the corners of the web: - Morgan Webb — the perky producer and star that moonlights as a model and Michael

Santa Monica-based Mahalo, the search and news site run by Jason Calacanis, has cut 10 percent of the firm's staff, Calacanis said in a post on his blog Wednesday. According to Calacanis, the firm is "fairly certain" that advertising for the next two years will be "severely depressed." Calacanis said that the moves were due to a "challenging economic environment." The cuts will give the company runway past 2012.