It's still Internet related. It has just rotated where the money is spent.

This is not the last word in Internet stocks, but it's a heck of a good starting point. All the good ones are in here.

Venture capitalists are taking a longer view of that industry sector; they're willing to wait longer for an exit because they're getting in early. They have to be both willing to take risks and willing to be patient.

I can barely find a[n industry] category that doesn't have a significant technology component.

As recently as three years ago, the natural progression from seed to exit [either IPO or acquisition] was three to five years. That window is now 18 to 36 months. Companies can get to market faster and they have the money to do it.

We're playing with a much bigger deck.