Boldly proclaiming that the "WEB 2.0 heyday is over" from a venture capital perspective, the New York Times' Claire Cain Miller writes that the VC community is turning its attention to cleantech and enterprise IT.

Venture capitalists are still chasing clean technology. Through September, $3 billion was invested in technologies that create alternative energy and conserve power, up from $1.9 billion the year before, according to the National Venture Capital Association. But big, expensive projects like building factories to manufacture solar panels or biofuels are falling out of favor.

“The economic arguments for those businesses literally went upside down in a year,” said Paul Holland, the general partner in charge of the clean tech practice at Foundation Capital.

On the enterprise side of things, cloud computing and open source and other cost-cutting technologies that don't demand full-scale datacenter build-outs will see the seed money flow.