Is the the New York Stock Exchange Crushing the Nasdaq with Web 2.0 IPOs?

Investors are going gaga for Web 2.0 IPOs such as LinkedIn (NYSE:LNKD), Pandora (NYSE:P), and Yandex (NASDAQ:YNDX). But below all the noise a battle for listings is being waged … and the New York Stock Exchange (NYSE:NYX) is winning.

Surprised? I am. The Nasdaq (NASDAQ:NDAQ) was the primary beneficiary of hot tech listings during the dotcom boom. They listed Amazon (NASDAQ:AMZN), eBay (NASDAQ:EBAY), and later Google (NASDAQ:GOOG).¬†At the time the NYSE felt like my grandfather’s older, stodgier exchange. How times are a changin’.

Now, in Round 2 of the white hot web the NYSE (NYSE:NYX) is kicking ass and taking names. The exchange won listings for LinkedIn (NYSE:LNKD), Pandora (NYSE:P), Demand Media (NYSE:DMD), and Renren Inc (NYSE:RENN). Will Facebook and Twitter follow suit?

The lesson here is tides change and complacent egos get usurped by hungry insurgents. If the Nasdaq (NASDAQ:NDAQ) doesn’t start hitting the pavement in Silicon Valley and other hot tech hubs, the NYSE may become the popular exchange for a new generation of technology investors.