Bank of America Merrill Lynch has just released a report outlining the top issues driving investors returns at the world’s largest ecommerce businesses…

“Eleven top themes that will shape the U.S. Internet and drive sector returns in 2011

1. US economic recovery – Some economic improvement in 2011 was already discounted in Internet stocks in 4Q, in our view. Need employment outlook to improve by 2H’11 for multiple expansion from here (whole Internet group).
2. Social platform growth – Social media is now 14% of US Internet time, and FB drives 8% of traffic (+ for Facebook, opportunity for RLOC; – for GOOG, YHOO)
3. Mobile usage explosion – Google well positioned, eCommerce to also benefit (most + for GOOG, OPEN; + for AMZN, EBAY; possible – for YHOO)
4. Google disintermediation – eCommerce beware, will Google remember who supplies content and pays the ad bills? (+ for GOOG; – for EBAY, EXPE, QNST).
5. Investment spending – Companies see big opportunities, possible 1H’11 margin pressure (- for AMZN, EBAY, EXPE, GOOG; PCLN and YHOO are OK)
6. IPOs – New, share-gaining, options coming for investors, SEC may make staying private more difficult (potential – for group as new share gainers emerge)
7. Acquisitions – Internet is a cash cow, good be a seller (+ for private companies, we liked PCLN’s purchase of TravelJigsaw, we highlight why NFLX, GSIC and DRIV could be interesting to acquirers)
8. Local and deal site momentum – Local more rapidly moving Online as deal sites hit home with local merchants (+ for Groupon, LivingSocial, Gilt and OPEN; GOOG and RLOC could see more ad dollars, but also new competition)
9. Cloud – Investors need themes, cloud could be the biggest (+ for AMZN, GOOG)
10. IP to the TV – Better Internet TV experiences will eventually emerge and MSOs can’t stop it (+ for group, including NFLX, GOOG, Hulu and possibly AMZN)
11. Europe Economy and Currency – Austerity measures could crimp growth in Europe vs US, and the Euro/US$ between $1.30 – 1.35 is a modest neg. for 4Q (highest Intl exposure for PCLN, EBAY, GOOG, AMZN, lowest for NFLX, GSIC)”

While this is an interesting analysis of the ecommerce sector, it could also be taken as a pretty good check list of issues to think about when it comes to almost any rapidly emerging technology sector. The same drivers, almost without exception, are key in other sectors including mobile, security, enterprise software, SaaS, web, mobile gaming etc etc.

I think we can sum up the prospects in all of these sectors pretty simply.

The world is changing rapidly and the rise of social media, mobile and the cloud, along with the need to reinvent business models in existing organisations is creating unprecedented opportunities for entrepreneurs. The only thing that can stop some of these ideas being successful in the short term are the macro economic factors that the global economy is facing. If these stay favourable enough to entrepreneurs in 2011, this will drive investor confidence and thus M&A, IPO and investment activity in short order. If they don’t, it will take a bit more time to take over the world.

Have a fantastic 2011.

The BLN has been established for over three years and during this time has become recognised nationally as one of the most innovative, focused and high value networks for entrepreneurs, venture capital and private equity investors in the UK.

We ran over 30 events in 2010 and aim to build on our success in future years by creating bigger conferences, events and growing our media presence in 2011 and beyond. We have been profitable since we started and want to grow in order to take advantage of the opportunities we have created for the business during this time.

We need some help!

We have an opening for a mature, organised, sensible, hard working PA/office manager to be the rock upon which the company is built. We are not looking for anything too unusual – in a superhero.

We expect all of the things that you would expect from a top employee – computer literacy, interest in the internet, ability to work to deadlines, sense of humour, determination and ability to get things done, attention to detail, can-do attitude are basic prerequisites. We also value highly: honesty; an interest in picking up new skills; taking on board new ideas; smiles; the ability to make customers love and appreciate you, and our business.

Initially, your typical day would include web site maintenance, manage communication with customers, setting appointments, identifying and inviting individuals to attend events, keeping our CRM system up to date, book keeping/invoicing, coming up with and executing great marketing ideas, identifying venues for events, negotiating with suppliers and keeping a small, busy office running at warp speed. As we grow, the future will be defined by your abilities and interests.

All of this would be dead easy if you were a superhero.

We would also be really interested in hearing from mortals who want to get involved with a company that wants expertise and hard work in exchange for respect, the kind of opportunities that small growth companies can offer for personal development and a role where you would be making a HUGE difference to the business from day one.

We do not intend to pay bona fide superheros any actual money as they are likely to be independently financed. We would pay cash/money to a successful human candidate.

We need someone for a minimum of 20 hours per week in the office but are open and flexible when it comes to working hours. (i.e. this could suit a parent who needs to be able to pick children up from school on a daily basis).

Thanks for inviting me last night – thoroughly enjoyable and worthwhile.

Great event, really enjoyable and a good crowd.

I just flew with Ryan Air. I don’t find myself agreeing with Hitler’s point of view often. I think he nails it though.

Thanks for a very enjoyable event, well facilitated (encouraged mixing and discussion without being awkward or overly formal – a rare balance) and some really interesting people to meet.

The drive towards centralisation of computing resources, device convergence and increasing modularisation of software components, coupled with the emergence of mobile computing and m-commerce, present amazing opportunities for those who can safeguard clients identity and data against increasingly sophisticated and agile Cyber- criminals.

Participants include, founders, CEOs partners or country region/managers of: Accel Partners, Adaptive Mobile Security, Advent Ventures, Amadeus Capital, AVG, Certivox, Cloudmark, Entrust, Erevena, Erevena, GB Group, Goetz Partners, Gresham Private Equity, Grove Group, iWebGate, Kaspersky Lab, MMC Ventures, Secerno, Semafone, Smart Architects, Syphan Technologies, Sysec & VoiceVault.

Business Leaders Network (BLN) will bring together some of the leading figures from the information security industry to discuss the key challenges and opportunities that lie ahead in this rapidly evolving industry.

Participants in previous BLN Enterprise Software/SaaS related events have included founders/CEOs/senior executives from: Symantec, Salesforce, 2e2, IRIS software group, AVG, WinWeb, Innovise, Grove Group, Xbridge, OmPrompt, Nimbus, Mimecast, Signify, xCalibre, Huddle; along with some of the foremost European investors including: Balderton, Accel, Wellington Partners, and Intel Capital.

We are delighted to be partnering with Erevena and goetzpartners for this event.

There are many opportunities to attend networking events but we like to think that BLN events are both high quality and a little different. You can see feedback from previous attendees here.

Please note that by applying we CANNOT guarantee a place, although we do our best to accommodate relevant individuals. Our priority is always to ensure that our guests are relevant to the specific discussion/sector focus.

For further information, please contact us directly at: info@TheBLN.com

I think the quote of the BLN year from a really fun ecommerce BLN discussion dinner last night from Nick Lansley at Tesco.com explaining why their two data centres have to be less than 40 miles apart from each other (though he would not share the locations). They have to be less than forty miles from each other as any further apart and they would not be able to mirror the data in the two centres.

Some great insights from real businesses on the use of mobile browsing and purchasing too that I will share when we have got the necessary clearance from appropriate authorities.

Thanks to some amazing attendees from Accel Partners, BDO, ByBox Holdings, Chameleon Net, Cognitive Match, Delta Partners, Ecourier, Erevena, Graze.com, Howzat Media, I Want One of Those, isango, Madbid, Made.com, Piper Private Equity, PKR, Reevoo, shutl, Silicon Valley Bank, Tesco.com, The BLN, The BLN, The Hut Group, Vitruvian Partners, Worldstores.

The last BLN dinner for 2010. Thank you to everyone who has made 2010 so memorable, we are now working on trying to put our programme together for 2011.

Before  that though, for me, a few days in Marrakech with my awesome wife, Jo, who has now been married to me for 10 years. Thanks for being my best friend.

XXX.

Pride comes before a fall and all that but with the news from Down Under this morning, it looks like it is shaping to be a good Ashes Series. I must admit I didn’t know what a King Pair was.

Who knew there were so many ducks in cricket? Are there any more?

• Duck – out without scoring
• Golden Duck – out first ball faced
• Silver Duck – out second ball faced
• Bronze Duck – out third ball faced
• Diamond Duck – out without facing a ball (usually run out though you could also get stumped off a wide which would be really embarrassing – has this ever happened in Test cricket?)
• Platinum Duck/Royal Duck – out first ball of an innings
• Pair – out without scoring in both innings of a two inning match
• Royal Pair/King’s Pair – out first ball faced in both innings of a two inning match
• Bombay Duck – tasty dried fish starter seen much less frequently in Indian restaurants these days. Why?

Enough about ducks, here is a fabulous frog joke (a shaggy frog story even) told by some Australian cricket commentators that I ahve always wanted to have an excuse to share: frog-joke_at-the-cricket. When and if we win our next Ashes Test, I want to post my otherAustralian radio joke.