"If Facebook does not do well in the long-term, I do think it impacts other entrepreneurial companies," says Mark Heesen, president of the National Venture Capital Association. Heesen predicts that we will see more venture capital-backed companies "either hold back and continue to get venture financing or go the acquisitions route." When it comes to financing, Heesen says that "IT continues to be the bedrock of venture capital" and explains why "New York City in particular is a hot area." - Katie Roof