Are we facing a second dot.com crash?

According to a Los Angeles Times article, investment in internet companies has climbed so steeply since the 2000 dot.com crash that there are renewed fears of the bubble bursting once again. In the first three months of this year, investors funded 761 deals worth about $5.6bn (£3bn), up 12% on the same period last year and the highest first quarter since 2002. Though MySpace and YouTube are hugely popular they have yet to make big bucks, and there's even less hope for the many imitators. In spite of that, the article argues that venture capitalists appear to have been more responsible than they were some seven years ago. (Via Los Angeles Times - Business)