Chop, baby, chop, and chop now.

Yahoo was hurting long before the financial crisis got everyone worried about a global recession. Now its pain has become more acute.

Yahoo said Tuesday that it would lay off at least 10 percent of its 15,000 workers as it tries to bring down its expenses. It said reduced marketing budgets had taken a bite out of its online advertising business, sending its net income for the third quarter tumbling by 64 percent.

As Sequoia says, Get real or go home.

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Now it's Zivity that is taking a hit, joining the ranks of start-ups downsizing to make the money they raised from now skittish venture capitalists last longer.

It was a difficult but necessary decision, say the Banisters, who are seasoned technology professionals. They have experienced the industry's ups and downs before.