Dell's decision to go private is a reflection of the tough times facing the personal computer industry as more technology spending flows toward smartphones and tablet computers.

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For decades, the concept of a personal computer remained relatively unchanged, but the rate of change in technology is too quick now.

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"I call it Homebrew Health, " says one angel investor, alluding to the Homebrew Computer Club of the 1970s, the group of electronic enthusiasts, including Steve Jobs and Steve Wozniak, whose technology hobby led to the birth of the personal computer.

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But this generation of older people grew up before the computer, and technology should be at most an adjunct to personal care.

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That's a historic shift, and is just one of many signals that the personal computer is no longer dominant in the ever-shifting world of consumer technology.

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The last technology that could be thought of as revolutionary, he says, was the Apple II personal computer introduced in 1977.

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John Markoff, The New York Times' technology journalist, even compared today's situation to the historic transition from the mainframe to the personal computer.

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