It's so crowded in the introductory workshops at the sold-out Web 2.0 conference today that people are getting turned away from the conference rooms. That's only encouraging the networking and dealmaking in the hallways of the Argent Hotel here in San Francisco. The main word I'm hearing? Froth. Both entrepreneurs and VCs tell me things are getting crazy again, especially in consumer Internet ventures. Things have been heating up for some time, but it appears they're reaching a boiling point. "It's getting too frothy," says Peter Rip of Leapfrog Ventures. "All these Web 2.0 companies are like mushrooms. There's a feeding frenzy when they pop up."

Not a good sign, frankly. People sure have short memories.

That said, it sure is exciting to see all these new ideas popping. Good thing I don't get to put money into them.

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