Yetties are the boys and girls of the new economy, of e- commerce; the people who have made the new millions — or are in line for — them because they own bits of businesses that Wall Street and the City have valued incredibly highly.

So what is a yettie? It stands for Young, Entrepreneurial and Tech-based. They've dominated the headlines for a few years now, but, finally, the venture-capital-funded, Starbucks-wired e-elite have attained the ultimate symbol of world domination: they've got their own demographic label.

He carries a black computer bag stitched with a company name, has tightly cropped hair, wears tiny black glasses and frequently talks into a mobile phone about a double-chip switching router. Everyone has met him: he is a yettie, a Young, Entrepreneurial, Tech-based Twenty-something, and can be found tapping into his Psion while sipping a vodka and cranberry in a bar near you.