When I saw this post on Vatornews this morning I had three thoughts:
First: ‘wow, technology really has taken over the world’
Second: ‘given this level of dominance it is time to stop thinking about tech as a collection of industries rather than a single category, some are growing, some are not’
Third: ‘this makes it even more depressing that we have relatively few tech giants here in Europe’
The last point is the most significant. As I’ve blogged many times before, large indigenous tech companies are a critical part of any startup ecosystem, and we need more of them here. I used to talk about $1bn as the significant value threshold, but I’m now thinking it should be much higher, maybe $20-50bn – i.e. big enough that the company is unlikely to be acquired. We lost Autonomy to HP earlier this year in a deal valued at $12bn, and $1bn acquistions are regular occurrences – Oracle alone has made three in the last eight months (Endeca, Taleo and Rightnow).