Way back in 1996, "community," with all its warm, fuzzy associations, was the buzz word du jour among Web start-ups and venture capitalists.

Web start-ups are cropping up with names like Bebo, Squidoo and Moblabber.

Five years after the Internet bubble burst, a new generation of Web start-ups is quietly attracting investment capital.

But for Temple Games, a Web start-up in Rhode Island, prestige sailing, street luge and yo-yos are inextricably intertwined.

At Stanford, for instance, the culture has shifted toward Web start-ups.

"Lots of Web companies are coming public and competing for attention with other Web start-ups," Mr. Fleming said.

Investors, accustomed to financing low-cost Web start-ups, had grown wary of spending the money needed to pay for basic research and build factories to produce energy.

He sees more activity than results from the celebrated Web start-ups.

Mr. Gallagher left in 2000 to join a Web start-up that never started up, then freelanced on technology topics.

The tussle between MySpace and Indie911 underscores tensions between established Internet companies and the latest generation of Web start-ups.