Is the next wave a bunch of sub-$10m Web companies?
brk: I personally think that the "traditional" venture-backed (ie: having raised $10MM+) web startups are going to find acquisitions less rewarding than what they had hoped for.By and large, there have not been a lot of successful Web2.0 startups that have gone on to acquisitions, and many of those that have didn't really end as well as people would have expected.IMO, the current and future wave of web startups is the 3 guys in a basement building out an app and selling it for $3MM-$9MM.  Maybe they took a little bit of angel money, maybe they boot-strapped it.In order for a Web/SaaS company to gain real value, they need to be able to have a super-solid revenue model, with a very low COCA (cost of customer acquisition) and customer support/training cost, and TLV for each customer of 5x-10x+ the COCA and CS costs.