[img src="http://www.37signals.com/images/tile-backpack.gif" caption="" credit="" alt=""]
Jason from the excellent Web 2.0 startup 37signals (creators of Backpack, Basecamp, Ta-Da List and now Writeboard), gave an informal talk at the Web 2.0 Conference on the subject of Less. His advice to Web 2.0 companies:
Less money. Traditionally you write a business plan and get some money. This is not recommended any more. You end up with debt which is always bad. Hardware is so cheap it's almost free. Money can't buy you passion. All it buys you are salaries and people. Perhaps you need less people.
Less people. I think 3 are ideal. If you think you need more than perhaps your product is too complex. You just need a designer, a coder and a sweeper who goes between the two and has some product sense.
Less time. Work less, shorter hours. It'll focus you on what's important.
Less abstractions. Just build things, learning as you go. Get rid of the functional specification documents. Instead, build the product starting with the UI, the user experience. That's what defines your product: customer experience.
Less software. Less features, less support. Do simple things like del.icio.us or upcoming.org. Don't solve the complex problems. There are plenty of simple ones to cherry pick
There is one thing you need more of: more constraints. All of the above will constrain you to produce more quality.