From Bambi Francisco of Marketwatch:
The topic of Google came up after Perkins predicted that there would be a Web 2.0 shakeout in the next 12 months, pointing to YouTube's $1.65 billion sale to Google last summer as a symptom of a potential sign of irrational exuberance about to break out.
If spending is any measure of irrationality over an opportunity, he has a point. Some $844.4 million was invested in 167 Web 2.0 deals around the world last year, more than twice as much money and nearly twice as many deals as in 2005, according to Dow Jones VentureOne and Ernst & Young. The U.S. dominated Web 2.0 investing, accounting for $682 million and 126 deals.
