Here's a great video clip (via PEHub) put together to promote the AlwaysOn Venture Summit.  There is no shortage of pessimism and negativity related to the financial markets these days so the thoughts of this crew are especially interesting given that early stage investing is, after all, a game of optimism and belief in what "could be." 

There seemed to be consensus that the IPO market may return 2H09 but that is dependent on broader stabilization of the financial markets.  Also, here's the list I captured of what venture capitalists will be investing in:

• Alternative energy and clean technology especially related to corporate IT
• Communications especially mobile handset opportunities
• Online gaming
• Products/services that deliver value to end users (yes, a bit vague but could be my note taking)
• Online ad efficiency
• Electric cars