I think what's important to remember too is that investment flows like water in the Valley. In places like Texas for example, we're not that lucky so 'startups' (which half likely never make it into CrunchBase), typically turn into very profitable small web-businesses because we don't have the same access to capital to go after the 'long tail'. We're forced to find revenue early, often at the expense of rapid & insane growth that results in big liquidity events. (usually b/c consumer web guys here are bootstrapping or operating on small angel money)