Venture Capital Predictions

A few nights ago, a group of VC's got together in Silicon Valley to discuss what the future of the technology in the world could look like - and where they could invest their dollars.

Valleywag has put together a quick list of some of the predictions that came out of the night:

• Customer data stored by different service providers will be combined to create more intelligent services.
• Oil will have increasing difficulty competing with biofuels made from cheap nonfood crops for transportation.
• Water technology will replace abating global warming as a global priority.
• The mobile device industry's migration to smart phones will produce great disruption for big industry players.
• Booming market for healthy aging technologies.
• Four-fifths of the world population will carry mobile Internet devices within five to 10 years.
• Algorithms will be constructed to develop new industrial chemicals, new biofuels and eventually artificial intelligence.
• The mobile phone is your most important device.
• There is going to be a venture capital shakeout.
• Within five years everything that matters to you will be available on a device that fits on your belt or in your purse