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Small cap hell is where you end up in about six months after your IPO, when all the high fives and champagne have receded into a distant memory. Unless your company is big enough. How big is big enough? According to Investopedia, small cap refers to companies with "a market capitalization of between $300 million and $2 billion."

That's right, to escape small cap hell you need to have a market cap over $2 billion.

It is not often that something as deeply geeky as XBRL gets onto the front page of Wired magazine. Daniel Roth's superb article about radical transparency raised the profile of those four letters. What could be more boring than an XML standard for accountants that has been around for a decade? On the other hand, what could be more exciting than something that might disrupt and recreate the deeply broken global financial system? I spent two days at the XBRL US National Conference in New York to find out the reality, which is somewhere in between.

Amid the dark days on Wall Street and in global markets, it seems to be up to technology to step up and deliver solid analysis and rational scrutiny. The US market regulator, the Securities and Exchange Commission (SEC), ratified a proposal on Wednesday for public companies and mutual fund companies to file their financial statements in XBRL (eXtensible Business Reporting Language). The XML-based language is also known as "Interactive Data" in financial circles and promises faster analysis with wider coverage. All things being equal, it will mitigate the poor analysis and regulation that's been contributing to stupendously bad financial decisions.