THE REBIRTH OF TECH

Michael Copeland and Om Malik has an article on "Tech's big comeback" in Business 2.0. Actually, Tony's speech lately on his hypothesis how the greatest Internet companies will be born after the bust (from 2002-2007) is pretty money... like Russell's recent post. Tony's speech covers his view on the rebirth of tech and factors driving this. Anyway, here's a clip of Michael and Om's article:

A new technology boom of potentially unprecedented power and durability is spawning in all of the nation's tech centers from Palo Alto to Seattle to Austin to New York.

That may sound absurd at a time when the country seems besieged by ominous economic forces. But a growing body of evidence suggests that tech is taking flight again. Venture capital is flowing more profusely than it has since the late 1990s. The downward trend in IT employment has abruptly reversed course, as companies both new and old hoard engineers. Corporate IT spending, both an engine and an indicator of tech industry health, was up 9 percent through the first half of 2005 and is expected to rise 7 percent more in 2006. Commercial real estate, dead in most tech hubs postbubble, is roaring back. (full article)