It would be ideal if you give some more data on what sort of Link building you done previously, then after the fact the tank. Will help you to get a clever response.
In the context of the semantic web, it means if you place your links close to other links you become associated with them, aka you are "guilty by association", or gaining street cred' from your friend's reputation.
Check your BL profile - any average or below average BL in the past (before update), you better get them removed. Start afresh and stick with the practices of investing in high quality authority links. Just like the other members said - worry only about the Google SERP, that's money!
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