Web 2.0 warning
Not long ago, there were widespread media reports that everyone was jumping on the new dotcom bandwagon - but a lone voice has been raised in warning to potential investors.
Second Chance Tuesday events may be booming in the capital, as reported last month, but a Welsh venture capitalist is warning that it could all end in tears, just like last time.
Michael Moritz, who ploughed money into Yahoo!, Google and YouTube, is now based in the US, where he runs Sequoia Capital. But he remains cautious about the Web 2.0 phenomenon.
He told The Sunday Times:
"Right now, people have forgotten how bleak things were when they were really dark, and you have a whole set of newcomers who didn't participate in the last debacle. It's right there, a little bit further down the road."
