Be incredibly, ruthlessly selfish with your equity.
During dark times, real entrepreneurs come out. They are not competing with 10 look-alike companies for engineering talent, so it's a great time to invest and help build companies.
Give me an entrepreneur with a lot of courage, gusto and who iterates rapidly, and I will back that person day in and day out.
If you choose a market that already exists, say, networking equipment, you have to compete with an established company like Cisco. Even if your product is marginally better, Cisco can fudge it and outsell you.
Guys like me on the investor side are a dime a dozen.