He's not that far off the mark. The amount of partying going on in Silicon Valley right now is extreme. There are startup mixer events at least every three days. Last week during "Web 2.0 Expo" there were 2-3 per NIGHT. These aren't wine and cheese and show us your powerpoint type events, either. It is straight up barfing on the sidewalk and the sales team doing coke in the bathroom. The frequency and intensity of these events has been steadily increasing over the past year, in the same manner as they did right before the dot-com bust.