This Adaptive Path essay is both exciting and really pissing me off. Sorry, I was in Italy for a couple of weeks so I missed out on this the first time around.
The most retarded sentence in it is: "Curious, inventive people are making cool stuff again." Um, hello? WTF? "Again"? I really don't know how to respond to that other than to feel really insulted and feel like anything people made three or four years ago was somehow "boring" because there wasn't any money attached to it. It's like when people say something as asinine as "Music is getting exciting again!" and the rest of us are like, "No, you just weren't paying attention."
Anyway, yes, there's more money that seems to be available for people who have been building these apps, but the suggestion that people who make these sites are only now springing to life when money is available is kind of disappointing. I hate the equation that $1 million in funding == EXCITING OPPORTUNITIES. It's how you fools lathered yourselves into the last bubble.
The exciting part for me is seeing friends, acquaintances, and heroes from years past finally getting recognition for their work; and yes, hopefully money to keep doing the stuff they like to do.
It's never been the technology that makes things cool for me, it's how the idea is executed. Tags, Ajax, RoR, RSS, XML, blogs, Java, VRML... if your focus is on the neat technology shoehorned into some idea to make money then you're going to be up to your ass in sock puppets again.