Its going to be an interesting week in the technology universe.

Wahooly is launching on Tuesday. More on them below. Then the Facebook IPO will apparently be happening on Wednesday, which could potentially start off another big round of startup frothiness.

The overall level of excitement in tech is as boisterous as I’ve seen it in a number of years. Whether it has “legs” remains to be seen, but there appears to be a definite shortage of qualified people to go around. Over the past few months, the number of resumes sent my way has slowly dropped, and instead I’ve been receiving calls from head hunters and startups (although typically they haven’t bothered actually checking what I actually DO). It will be interesting to see whether things actually pick up economically (or even just in the tech world) over the course of the year.

Wahooly is an interesting riff on startup incubators, crowd-funding and viral marketing. The amount of attention that they’ve achieved in the past couple of months is larger than anything I’ve personally encountered. The basic idea is that startups give them a small amount of equity, which they then “share” among their users, in exchange for which the users promote the startup. The amount of “equity” given to each user depends on how effective the users are in helping to market the company in question, according to some internal formula. To avoid market regulations, it looks like they’re giving some kind of virtual equity to the users, rather than actual shares, and the users will only profit directly if there is some kind of liquidity event. Remains to be seen whether it will work (and whether they can keep it on the right side of legality), but there’s already a large number of users who have registered, and approximately 50 to 60 startups to begin with. My approach is to view it as a combination of an interesting source to find out about new startups (i.e. pure entertainment value), a possible deal flow source, and maybe, just maybe a couple of bucks on the side, somewhere down the road. In the meantime, I’ve been chatting with other users on two groups (here and here) that have been started on Facebook, and its been fun.

I’ll be posting regular updates with regards to Wahooly (and particularly the startups that are launching via their system) over the next few months. Also, two startups I’ve been working with are gradually getting closer to Beta launch, and I will have more to say about them as that time approaches.