Back to Reality

Venture capitalists have taken some hits in the past year with dot-coms and other startups failing at a rapid rate, but that hasn't deterred the Central Intelligence Agency from using a little seed money to find the technologies it needs.Since setting up In-Q-Tel Inc. in 1999 to act as its VC arm, the CIA has invested more than $30 million with various companies. The hunt is on at the spy agency to find technologies to aid secure mobile data communications, privacy, security, legacy migration, data management and other needs.As you'll read in Staff Writer Joab Jackson's story on page 1, making the investments hasn't been a problem, but getting the agency to use the technologies has been a challenge.Deeper in this issue, you'll find more on the fallout from the demise of so many dot-coms. This time the issue is how recruiting has changed in light of the failure of many startups. Staff Writer Gail Repsher Emery found that recruiters and job seekers are asking different questions than they were a year ago.Like our dozing Dorothy below, recruits are being awakened to a new reality. The halcyon days of quirky perks, such as pingpong, stock options and free soda at the office, are over. As Gail's story in our Workplace section explains, the new reality is actually a return to an old one, where things such as the bottom line, stability and a clear career path are desirable once again. Imagine that.