"11. Web Office apps. We're interested in funding anyone competing with Microsoft desktop software. Obviously this is a rich market, considering how much Microsoft makes from it. A startup that made a tenth as much would be very happy. And a startup that takes on such a project will be helped along by Microsoft itself, who between their increasingly bureaucratic culture and their desire to protect existing desktop revenues will probably do a bad job of building web-based Office variants themselves. Before you try to start a startup doing this, however, you should be prepared to explain why existing web-based Office alternatives haven't taken the world by storm, and how you're going to beat that."
Relevant? I think so.