A few years back I participated in a study on early stage investing in Russia - motivated by the fact that there is a lot of money staged by both the Russian government and Russian investors. What's become even more intriguing since then is the flow of Russian money to Silicon Valley investments - DST-Facebook investments getting the most attention recently. These high value deals are definitely bold and working - for now.
The latest news is the super cheap angel funding that Yuri Milner is engineering. Whether this is sustainable long term is hard to say, but this will surely shake things up around here for the foreseeable future. One thing is certain: the already hot startup environment just got a lot hotter.