More than ever. The capital investment necessary to start a "tech company" (admittedly that's a very vague term) has dropped fairly steadily over the past 40 years. Think about it - back then you probably had to actually manufacturer and ship your product, but now thanks to the net and open source you could easily have a product available to end users the same day you think it up. That's not true of all products, but clearly, one of the problems Venture Capital is facing is that you need less and less money to "prove out" an idea than you used to.