Last night we went to a great gala and a fantastic world premiere, but first we want to tell you about a mountain that a group of entrepreneurs just bought.

Five years ago, our publisher's son and co-founderElliott Bisnowstarted his own companySummit, which has become a conference series for top young entrepreneursaround the world, called by Forbes "Davos for Generation Y." Last week, Summit bought a mountain. Not just any mountain, but 10,000 acrePowder Mountain one hour from Salt Lake City, and the largest skiable mountain in the US. It had previously been bought by a private equity firm which thought it would build the next Vail with 10,000 homes, but then came the recession and opposition from the low-key local community. Enter Summit, with a very different vision.

For those of you who remember Elliott from his days in DC, he's now CEO of Summit, with 50 core colleagues and 300 ski resort employees. Plus, a large cadre of engineers, architects, contractors, and others who help craft its plan to preserve the ski resort, maintaining the old fashioned atmosphere that lures folks from around the country to what Ski Magazine has ranked as the top snow in the US.

At the same time, Summit will develop another side of the mountain into an eco-friendly gathering spot for its community of innovators, including company founders, non-profit heads, writers, musicians, actors, and others engaged in creative workwho care about the future. They expect to develop 500 homes and a mountaintop village, and get involved in helping the world, with year-round interaction: sports, conferences, music, brainstorming. We couldnt be more excited. Read on.