Interesting question and something that definitely all the VCs in India are searching to answers for. What is going to be the next money spinner ? Most importantly, what are consumers going to use? Time will tell and I'm personally working on some stuff.
Yesterday read a VC interview which reinforced my belief that yes - the bust is imminent. The quote went something like this " We want our companies to create services that people will use and find useful. If it is useful, people will pay for it. Yeah right. He's obviously fresh out of MBA school or else spent 1999 to 2001 in a cushy job somewhere without ever reading the newspapers."
cheers,
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