Earlier in the week, we reported that social games giant 6waves Lolapps laid off most of its internal development staff (essentially, the “Lolapps” half of “6waves Lolapps”) in order to re-focus on its efforts on publishing third-party games. Hang on tight, ’cause the earth’s still moving: on Friday, Arjun Sethi, the former CEO of Lolapps, announced on his blog that he’s leaving 6waves Lolapps entirely.

“Most important to me is the culture we built together [at 6waves Lolapps],” Sethi wrote. “Everyone we have hired is an entrepreneur and a leader in their own way. I hope to see multiple new ideas and startups emerge because of the type of people and culture we have created over the years. It’s a culture that is seen as among the strongest! I am very proud of each and every one [of] this team and will miss you most of all.”

It’s sad to see 6waves Lolapps get so utterly, completely reset, but there was a wise sage that said, “Every new beginning comes from some other beginning’s end” (or was that Semisonic?). There’s a lot of hopeful truth in Sethi’s blog post: the developers who were cut from the team certainly have the talent that’s necessary to move on to fruitful projects, and it’s almost assured that a few will go on to create startups of their own.

Obviously, the ladies and gentlemen who were laid off are probably clouded with fear and doubt about the future–who can blame them, given the economy, and families that need to be provided for? Nevertheless, once those developers get their feet under them, they’ll gradually begin to realize that this is still a great market for social and freemium games. And they’ll get back to doing what they love most.

Let’s just hope Ravenwood Fair isn’t left to go to seed–unless Konami resolves to study the abandoned virtual fairgrounds for a new take on the Silent Hill franchise.