Phew. Venture funding continues.

If you believe what VC's have to say - more on that later - 2008 will be another good year for raising money. Apart from the easy answers, like that green technology and biotech will have good years, VC's agree that the SaaS business will continue to flourish. Or at least that more ideas (note no reference to good or bad) will be converted into 2.0-looking web sites with a big, flashing BETA sign on it.

While this is good news - especially given all the less than good news we are forced to read every morning - it must be taken with the proverbial grain of salt. After all, one of the VC's polled was also polled last year at this time. He was quite sure that IPhone would be a flop. Is 27% ownership of the smart phone market in 6 short months not good enough for any of you? And they predict we will have another 4 years of a Clinton White House. No comment.

From where I sit, there is always VC money available. How good you are at extracting it is not always connected to the state - or future state - of the economy. Either way, lets hope they're right.