The reality is that the biggest competition for silicon valley angel investors is not Yuri Milnur but Google, Facebook, Apple, Twitter, and Zynga.

pg says it much better: "Investors all compete with one another for deals, but they aren't one another's main competitor. Our main competitor is employers. And so far that competitor is crushing us. Only a tiny fraction of people who could start a startup do. Nearly all customers choose the competing product, a job." [http://www.paulgraham.com/future.html]

Here's to hoping more college grads join an early stage start-up or start their own company instead of joining Google or Facebook