What's the difference between Dan Kohler and my 90-minute wonder? What this guy saw as obstacles, Dan saw as opportunities to make his mark. Dan didn't focus on what the org chart looked like, how many direct reports he'd have, or what his budget would be. He was completely focused on what the company and its customers needed -- and on what he could do to meet those needs.

What kinds of reports are you hearing back from people who have made the Great Migration?

One of the most common reactions is the shock of adjusting to the speed of Internet life. Jim Barnett, president and CEO of ThirdAge Media, told me that at his old job, he knew that if he worked 14 hours a day, 7 days a week, he could get caught up. But in the online world, even if you work 20 hours a day, 7 days a week, you'll still be behind.

That's why we look for people who can get the right stuff done. This is about being able to prioritize ruthlessly, about knowing what the high-reward action items are. This attribute carries over into our 80/20 mind-set, which is an easy one to understand: It's better to be 80% right today than 100% right tomorrow. We're looking for people who aren't afflicted with analysis paralysis. In the Internet world, you're never going to have all of the information that you need. Even if you did, you wouldn't have the time to process it.

Another common insight has to do with how naked you can feel in the Internet space. We recently brought L. Gregory Ballard to MyFamily.com as CEO. He told me that his biggest "aha" since starting his new job has been understanding the miniscule amount of time that you have to make your mark in the Internet world. In the old days, if you took a job with an established company, you could argue that no major decision should be made for the first three months. You had to "learn the business." Internet time doesn't give you three months. It gives you three days.

How's Ballard adapting to this? Well, if you ask his wife, she'll tell you that he's given up the rest of his life. He's working longer hours -- and at a more frenetic pace. He's getting used to those red-eye flights, and he's learning who in the company can help him make changes.

What about people who have made the voyage and now realize that they made a mistake? Are you seeing a reverse migration?

The Internet really isn't for everyone. The more honest people will go back to the jobs that they know and love. The people who are still kidding themselves, who are still looking for that pot of gold, will go from one startup to another, not being honest enough with themselves to realize that their talents aren't best suited to the Internet.

I admire people who take the plunge and then go back. I think the world of Mohan Gyani, whom we recruited from AirTouch to be CFO at an Internet company. After four months, he realized that the Web just wasn't for him. So he went back to the big world, where he's now president and CEO of wireless services at AT&T Wireless.

It's very hard not to get swept up in the craze of the moment. There is an inflated sense of self-worth in Silicon Valley. And while there are a lot of really smart, talented people in the world, most of us have been as lucky as we have been smart. We're in one moment of time right now. No doubt it's an amazing moment, but it's just a moment nonetheless. Don't give up a successful career without first thinking through the implications very carefully.

Anna Muoio (amuoio@fastcompany.com) is a Fast Company senior writer. Contact Becky Stein by email (becky@russellreynolds.com).

Sidebar: What's Your Web DNA?

Might you be a dotcom darling? Below are the six characteristics that Russell Reynolds Associates believes define successful Web executives. Before you answer the question "Should I stay or should I go?" be sure to ask yourself, "Am I right for the job?"

CarpeDiem.com: When was the last time that you had a breakthrough in business? When was the last time that you took a risk and failed? Describe a time when your business wasn't meeting the expectations that you had set out to meet. What did you do to change that?

Radiate vision: Are you more evangelical than Matthew, Mark, Luke, or John? What's important to you and to your business? How do you define your success? Your team's success? How do you communicate your company's vision to your team?

80/20 mind-set: Have you freed yourself from analysis paralysis? How do you use resources? How do you figure out what your customers want? When was the last time that you drew from your experience and insights to fill in a blank when faced with incomplete information?

Organizational improvisers: Are you more interested in getting stuff done than in playing by the rules of the org chart? What does an ideal organization look like? How do you use the talents of your employees? How do you plan for future growth?

Learning obsessed: Are you like a sponge when it comes to learning? Do you love to place yourself in the middle of feedback loops? When was the last time that you learned something that led to an "aha" moment? When was the last time that you changed a tightly held point of view?

Get the right stuff done:

Do you know what it takes to ruthlessly prioritize? Can you zoom out to see the most important objectives, instead of allowing yourself to be distracted by tangential tasks with little payoff?