Bob Jones is one of the most respected technology entrepreneurs in Europe. He has started and sold three networking ventures, including the 1995 sale of Sonix to 3Com for $70m, and worked for Schroder Ventures IT Investment Team. His latest company, Equiinet, is widely acknowledged as the UK market leader for server appliances.

What three words sum-up the start-up scene two years ago?
Vibrant. Optimistic. Fearless.

How about now?
Nervous. Selective. Realistic.

Setting up a company today, say why you'd choose the UK as its base - if indeed you'd choose the UK.
I'd still choose the UK because it's the gateway to Europe, it has a healthy economy and it boasts enthusiastic, flexible and talented employees who aren't afraid to take a risk and who are generally keen on beating the Yanks at their own game when it comes to manufacturing technology products.

What deal (any deal) will you admit to having been most jealous of?
Cobalt - bought by Sun for $2bn two years ago, Cobalt had a head start in the server appliance market.

What was the craziest, most height-of-dot-com-bubble business plan you came across?
Anything involving the word 'free'.

Who do you consider the successful dot-coms, if it isn't too early to say?
Amazon and lastminute.com are threatening profitability, which in today's climate has got to be the only real measure of success.