Summit Notebook

Exclusive outtakes from industry leaders

AUDIO – The magic is broken


leglise2.jpgThe Nasdaq stock market’s once quasi-monopoly over technology IPOs has been “absolutely destroyed” by the Sarbanes-Oxley corporate governance and accounting law, said Claude Leglise, the managing director of venture capital firm WI Harper. “We could argue the details but the magic is absolutely broken,” he told the Reuters Venture Capital Summit. He said that Hong Kong, Singapore, Tokyo and London were now all potentially appealing alternatives because of the costs of listing in the U.S.

Web 2.0 a tiny percentage of U.S. venture capital


Sand_Hill_Road_Google_MapsA favorite pastime of journalists writing about the latest generation of Web 2.0 Internet services is to handicap how long before history repeats itself and the next Internet bubble forms — then pops.

New data show Web 2.0 companies are fast gaining investment, with 49 deals attracting $262.3 million in the first half of 2006, according to Dow Jones VentureOne. At that level, it’s on track to more than double from the $199.1 million for 51 deals invested during the whole of 2005.