Well the hotly anticipated Google IPO has gotten underway. The company filed to go public today with the U.S. Securities and Exchange Commission, in hopes of raising $2.7 billion dollars in an unusual auction-style offering. What does this mean? The company proposes to create two classes of shares with differing voting rights, guaranteeing that the founders, Larry Page and Sergey Brin, keep decision-making authority.

What does this mean for tech IPOs, which have suffered greatly since the great dotcom bubble burst? Tech IPOs have seen have seen a resurgence lately, which some attribute to VCs trying to recoup investments and to private companies trying to get out the door before the big Google IPO. But George Colony of C|Net speculates that an inflated Google IPO could signal Bubble II, a period of "overpriced froth," in his opinion.