Back in late 2002, in the doldrum years after the Tech Crash, my friend Rich Karlgaard (the Publisher of FORBES) became compelled to start writing a book about a phenomenon he’d been observing in Silicon Valley. People were leaving in droves — entrepreneurs and other business people, tech workers of every stripe. Good people, successful people, and so many of them disallusioned. They’d had it with the expensive living and the rat race up and down the 101, and they were determined to find a better life elsewhere. It’s a great book — called “Life 2.0” — and it’s on my recommended reading list in the right sidebar. He came to Minnesota to interview me when he first began writing it.

Well, hold on, but another book could be in the offing here, from somebody, based on what we read yesterday from two leading Valley-based technology bloggers. First, Michael Arrington launched this bomb on Tech Crunch: Silicon Valley Could Use A Downturn Right About Now…the most telling sentence of which was this: “Times are good, money is flowing, and Silicon Valley sucks.” Here’s another excerpt, his concluding paragraph:

I left Silicon Valley at the peak of the insanity last time around, and I was pleasantly surprised when I returned in 2005 to see so much goodwill and community surrounding innovation. Now, it’s just like the old days again, and Silicon Valley is no longer any fun. In fact, it’s turned downright nasty. It may be time for some of us to leave for a while and watch the craziness from the outside again. In a few years, things will be beautiful again. The big money will be slumbering away, and the marketing departments will be a distant memory. We can focus, once again, on the technology. And the burgers and beer.

The post had 210 comments(!) at last count, so it’s obviously hitting a nerve. But, as if that wasn’t enough, Robert Scoble then chimes in essentially seconding the motion. I like Robert — he’s one of the nicest, most likeable, down-to-earth guys you will ever meet in this business. (And his wife, Maryam, is a real sweetheart, too.) So, when Robert talks, I listen. I respect what he says. Well, yesterday, he further enlightened all us unwashed masses of Valley outsiders with what it’s really like to be an insider there these days. And it does not sound particularly pleasant. His post was titled Why I’m in a malaise…, and here’s an excerpt:

I too look wistfully back at the days when we had almost the entire Social Software industry in one little coffee shop back in 2002 — none of whom were talking about making billions of dollars. Back then it was more like the Homebrew Computer Society, where geeks came to show off their stuff (and everyone was pretty much not getting paid anyway so of course we were doing it just for the love of it).

It seems to me that both Robert and Michael are tired of the grind — the relentless parade of me-too companies and legions of PR people and VCs trying to get their attention, and the hellish treadmill they’re on producing content day after day, night after night. You can only do that for so long before you get burned out — and it seems both of them have reached that point.

Then again, who knows, maybe they just need a vacation? What I do know is that I wouldn’t want either of their jobs. Sure, I’m a blogger, but these guys are hardly your typical bloggers anymore. They’re both part of serious, money-making publishing businesses (Robert also being a VP at PodTech), and both inextricably caught up in the big-money world of tech VC. Now it seems they’re both wondering, “Is this all there is?” And it begs the question: is this crazy Web 2.0 startup world getting closer and closer to a bubble burst?

Makes me glad I live in Minnesota, where things are a great deal more sane. And I know Rich Karlgaard would be the first to agree with me.

UPDATE: To add book link.