Yes, I like LinkedIN, and am one of the very early users, from the early days before social networks become trendy. Simply because, unlike some of the more fashionable networks, I actually found it useful for business.
But is it worth One Billion Dollars? Apparently it is – if you ask Bain Capital Ventures, Sequoia Capital, Greylock Partners, and Bessemer Ventures, who just invested a whopping $53M with the even more whopping $1B valuation. $53 million is a decent exit for some startups – but LinkedIN has about $100M in annual revenues. Still, I really wonder what kind of stratospheric exit (IPO) valuation the current investors expect.
Or perhaps Kara Swisher is right:
Why go public when you can just pretend?
Exactly. 
Update (6/18): In celebration of entering the Billion-Dollar Club, LinkedIn is down.
Venture capitalists have been pouring money into “clean technology” companies – $2.2 billion in 2007, an increase of 46% over 2006. Why are VCs making so many long-term, capital-intensive bets? Which technologies will be world-changing, and which will be duds? 
In living proof that there is life outside the Palo Alto / Menlo Park proximity, SVASE will host a VC Panel on investing in Green Tech tomorrow at the Crow Canyon Country Club, in Danville, CA. (A very green venue for a Green Event
).
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