Dot-Coms With a Well-Heeled Big Brother More Likely to Weather the Storm

As Warren Buffett likes to say, it's only when the tide goes out that you see who's been swimming naked.

And "naked" pretty much sums up the plight of a lot of little tech companies right now. With business plans calling for years of exponential growth fueled by other people's money -- but no more money to be had -- they're left with two options: Generate cash internally (dream on) or find a deep-pocket backer. Those that can't do either will go the way of boo.com. The relative few that can will at least get a chance to see where their business models and management skills take them.

Obviously, companies want to be in the second group. So let's think about how to find them. ...