The web 2.
0 movement is certainly mainstream at this point.
A quick look at the VC investment data shows that this is no longer a fringe movement.
Having lived through the dot-com experience, running an Internet start-up at the time (which made it through to this day), I have a few observations about this latest craze.
The number one objection I have to Web 2.
0 is the lack of definition for the term itself.
Whenever there is a "buzz" about something people can't quite define, I tend to believe it's not real.
Or at least, the idea is still in a formation stage.
We heard this in the 90's, "the Internet is changing the very fundamentals of business.
" But when you asked people how, they couldn't really answer.
Their only reply was: "You'll see.
" Well, we certainly saw.
Business is business, and always will be.
There needs to be a return of x percent in y years, or investments generally are not offered.
Will Web 2.
0 bring new and interesting ways to make money? I think so.
I'm quite intrigued by the possibilities.
But my money is on the sidelines at this point.
I think that the money that's out there now is somewhat foolish.
Maybe foolish is a little harsh.
It's the early-adopter money.
It's a typical investment pattern, really.
The early money will largely be lost, but is necessary to help define how to use a new technology.
The 1% who make it through the first few years will see incredible returns.
The other 99%, well...