dot.com wealth is not quite an American phenomenon

As daytraders, dropouts, and venture capitalists around the country piled up imaginary millions during the dot.com book, the bubble developed an odd feature: Even though the technology boom was a worldwide phenomenon, most of the growth and most of the wealth stayed in America. Apparently it was only a matter of time: The last major British Internet company, LastMinute.com, has been bought out by Sabre for £577 million. It's certainly not on the scale of American buyouts, but this is an interesting sign: Europe is wide open for a travel-site war, and this gives Sabre a beachhead.