Traffico

At 0630 this morning I drive across the Bay Bridge to avoid rush-hour traffic (I don't) and am welcomed by an orange and pink sunrise pointed by the Campanile on the UC Berkeley campus with the North Berkeley seismic hills in the background.

I admit that it feels a bit like 1999 all over again, and I am happy to see companies like Squidoo, Bebo and Moblabber get funded. As one entrepreneur says to the Times: "We lose money on every transaction, but we'll make it up in volume."

AOL announces a new business mode: 100% free! America, unlike Britain, is a can-do country and California is the heart. Why Silicon Valley exists must date back to the earliest 49ers, when people crossed the country at their peril to find gold and re-create themselves. This continues onward today, and Californians are special in their spiritual outlook.

Where else can blowing millions of dollars of venture funding be viewed as part of the learning experience? Those who do overcome the J-curve want the rush again - retirement is not an option for those under the age of, well, never. Along with Industry Ventures and Walden Venture Capital, I will meet the founders of PayPal tomorrow.

These guys made their money when they sold to Ebay in 2002, and now they have launched new companies Friendster, LinkedIn, Slide, Facebook and others.