Winblad argues that, contrary to popular rumor, there has been a steady flow of activity in venture capital over the last two years. The software sector is still the big leader, though biotech is catching up. Though she doesn’t discuss outsourcing, Winblad emphasizes that a company must consider where they can get the best intellectual capital. Today, company strategy starts global. She also discusses the trends in the software market including: open source material, Moore's Law (storage is free) and Metcalf's Law, and mergers and acquisitions.