It looks like the next fortune in tech will be mobile. And so far, it appears that Apple (AAPL) has the edge, with its extremely popular iPhone and app store, which has clocked more than three billion downloads worldwide. It was two billion just back in November.

But the competition is intensifying, especially from Google (GOOG). After all, the company is launching its own iPhone-type device (called the Google Nexus).

Going.com is an event site with social networking features that is focused on the 20-something crowd (which I guess leaves me out). The company seems to be getting traction, and today it announced a $5 million round of venture capital. The investors include General Catalyst and Highland Capital.

So far, Going.com covers NY, Boston, San Francisco, and Chicago. It has about 500,000 registered users. Compared to biggies like Facebook and MySpace, Going.com is still small-time stuff. But with the infusion of capital, I suspect that won't be the case for long.

I certainly think there's lots of potential for these kinds of focused communities. It also looks like there could be a big mobile play here.

But, over the long haul, I think it could still be tough. I think its inevitable that companies like Google Inc. (NASDAQ: GOOG), Yahoo! Inc. (NASDAQ: YHOO), and Microsoft Corp. (NASDAQ: MSFT) will want a piece of the market. Then again, these companies may just buy Going.com to get a head start.

Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.

In light of the global competition and difficulties of the U.S. automakers and unions, who would want a piece of the auto parts market? Well, private equity investors of course, as well as hedge funds see opportunity in this market.

Actually, the U.S. bankruptcy system may be the ally, as it can help wipe-away the legacy problems. After all, this has happened in the airline and steel industries, right?

Well, things are heating-up for the auto parts companies. In fact, Delphi Corp. is in the midst of a bidding war (the company is currently under Chapter 11 bankruptcy).

There was a $3.4 billion deal for the company with private equity investors like Appaloosa Management and Cerberus Capital Management.

Well, this week, a hedge fund jumped into the fray. Highland Capital is offering $4.7 billion. What's more, Highland does have some leverage since it is the second largest shareholder of Delphi (owning close to 9% of the company). It also has ownership in a slug of Delphi's debt.

It's certainly a bold move. By all accounts, it looks like the U.S. automakers will slash production in 2007 – which will put further pressure on the parts companies.

Although, Highland may be doing this more for negotiation purposes. That is, it is trying to get more from Cerberus-Appaloosa.

Tom Taulli is the author of various books, including the Complete M&A Handbook and operates DealProfiles.com.