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.

NPR: Dell To Go Private In $24.4B Deal Led By Founder

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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