technoratilogo.bmpVentureBeat will attend the Web 2.0 conference today in San Francisco, which celebrates new Internet companies.

But it comes at a time when a key component of Internet excitement — blog activity — is losing steam. David Sifry of Technorati, writes about the state of the blogoshpere, and the chart below shows blog posting volume overall is down from the previous quarter.

Note that the overall number of blogs in existence has gone up. However, you’d expect that. People and companies are creating them, some out of near obligation. They don’t necessarily scrap them — even if they’re not updating them much.