Here is the recent data representing total venture capital investment in Colorado.

It's easy to panic looking at this chart. However, let's look at this same data with the benefit of more historical data.

Looking at this chart, it's easy to see that while we're down, in the grand scheme of things the bottom we're testing again is not unheard of. Keep in mind that this is total venture investment, and is not specific to software/IT. Unfortunately, the publicly available data doesn't get sliced that way. If anyone has access to the raw data, I'd love to get a copy and repeat this exercise with that subset of the data.