Mike Maples, the founder of Floodgate, talks about how this year "scares the heck" out of him, mainly because money is flooding into the startup community. That's good news for everyone, if there's an exit environment. Unfortunately, there isn't one, according to Mike.

In the third segment of my interview with Mike, he also talks about how he spots markets. "In the tech business, great tectonic shifts... and a great market will pull startups to greatness, if they're at the right place, at the right time" he said. So, how do you spot great markets and not fads? I asked. Watch and listen to Mike for his insight.