Some Good News for Silicon Valley

This is a refreshing announcement. A new Venture Capital firm is starting and they will only invest in Silicon valley based companies (U.S. would be better folks!)

But what is interesting is they are also doing angel investing or the first $50k to get started, which has died down in recent years.

Now a lot of absurdity did happen in the dot con bubble, at the same time to truly obtain innovation, one has to fund a lot of fizzle to obtain that one true spark.

It's also great that this $300M fund will be investing in U.S. companies. About time we stopped hearing the offshore outsourcing mantra and had funds being directed exclusively to U.S. technical innovation.

An interesting fact from the article:

These are the most valuable? What are they smokin'? (w/ video!)

highest evaluated startups

I just read this list of most valuable startups. The thing is most of these are websites, involved with web 2.0 social networking technology.

Where is the revenue streams from this? How are they getting 9 billion dollars from a social networking site?

I mean think about that in comparison to say Jet engine parts or even microprocessors.