Web 2.0 Summit

• Buying a new Mac instantly raises your credibility at this conference. It's even better if you sit in the lobby and make Skype calls on your Mac laptop.

• To paraphrase Seth Godin small is the new big -- small applications, small teams, small budgets, small, small, small.

• The boom is back. But this time it's funded by major companies and not individual investors. As long as those major companies remain profitable, this should help protect against a bubble bursting ... fingers crossed.

• IT is at the center of so much that's being discussed here, but the acryonym "IT" and the language of IT is largely missing from this summit.

• The best networkers rarely have the best ideas. The people hanging around the edges of the room seem to be the people doing the product building. The people in the middle are mostly finance guys. I learned a lot talking to the people around the edges.