We’ve heard the rumors: Software is on the way out, the industry is dying, yada, yada, yada. Well, hold the rumors. Deloitte just pumped out its 12th annual “2006 Technology Fast 500” list, a daunting compendium purporting to identify the fastest growing tech companies in North America. And — surprise! — just as in years past, the list is dominated by software vendors: 179 of ’em. Add the 60 entries listed under the rubric “Internet” (essentially software by another name) and software industry might even seem robust. Sheer bulk aside, however, telecom looks like the place to be, with the greatest percentage revenue growth over all.Still, you’ve got to take these kinds of self-serving surveys with a grain of salt … and maybe a pitcher of margaritas to boot. More than half of these companies are privately held, so there’s limited visibility into their actual finances. Even if the top line for company X grew by 1000 percent, who’s to say that their costs didn’t go up even faster. More telling, the list is based on five-year revenue growth percentage. A large percentage of a small number is still a small number. Company no. 10, Antenna Software (“real-time mobility solutions”), grew revenue more than 16,000 percent, from $61,000 to $9,852,000. Sounds impressive, but that would be a rounding error for Google (no. 41). Nonetheless, Antenna will get to issue a press release, as will IT consultancy Vaptech ($5 million in revenues). That’s got to be worth something.There aren’t all that many whizzy, collaborative Web 2.0 plays here, probably because companies have to have been around for five years and show revenue progress. Let’s look back in a few years. But there are a boatload of on-demand software-as-a-service providers, which take advantage of Web 2.0-ish browser functionality. Even so, the software list is dominated by frumpy old apps, IT consulting services, and vertical offerings catering to health care and the like. Somehow I find that comforting. Technology Industry