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Market consolidation?

Bitly acquires Twitterfeed: Bitly acquires social publishing tool Twitterfeed –

Facebook acquires Gowalla and a few other companies: Facebook acquires mobile application firm Gowalla – Economic Times

Analysis: Facebook Goes Geo (again) – AnalystXpress – the Juniper Research Blog

It’s clear from the Facebook/Gowalla information how important it is to be at the right place and know the right people, and that it’s very little about technology.

Even more so in the latter case, considering Gowalla will be shut down, so really what Facebook acquired was a few engineers and their knowledge and vibe.