The trend toward smaller, nimbler start ups is evident. Even before the cheap money dried up there were clear signs that the core of start up success wasn't centered about MBAs or capital. Sure you can over shout competitors and grow at lightspeed given infinite cash, but a well designed piece of software needs craftsmanship and a bit of luck.

But it's also worrying that a modest bunch of engineers can launch billion dollar companies. How might this affect distribution of wealth, power, labour, private versus public sectors? What about governance of these companies?

(I'm not saying start ups have a duty to employ MBAs, hundreds of mediocre employees or accept venture cash they don't need. But I do worry.)