Web 1.0 Implosion
By: Dan Morrill
The Sun Times is running an interesting article detailing the differences between Web 1.0 entrepreneurs and Web 2.0 entrepreneurs...
...and soundly state "We have learned from the past, we won't be making that mistake again" with fingers crossed behind their backs. The Sun Times states:
After the bust of 2001, you think the Internet business, with notable exceptions, such as Amazon, eBay and Google, was a digital dodo that went extinct. But, bunkie, the reports on the demise of the Net are premature. Howard Wolinsky reports Tuesday on a two-year-old startup that provides a restaurant delivery search engine/guide with a side order of community a la reviews spiced with coupons. A new Internet generation of young entrepreneurs, chastened by the excesses of their predecessors with their half-baked business plans and shaky technology, and experienced hands alike are betting on online success. Source: Sun Times
Regardless of what we learned over time, the point is there are going to be abuses of the system because the system encourages abuse. With VC's running around and getting inspired by idea without solid backup, we will be hearing about it. Then we will shake our heads and knowingly glance at each other going "uh huh". With any luck this time will be a soft landing, the dearth of IPO's in the web 2.0 space is a good sign. The idea that bigger more established companies are hoovering many of these web 2.0 companies also bodes well.
Although with that in mind, these bigger companies need to do something with the acquisition, dodgeball is a prime example of a bought company that returned nothing to the parent company because the parent company didn't do much with it. Although the owners are richer by far, they leave with a bad taste in their mouth wondering what they need to do the next time they come up with a good idea. It will make the sale of a company much harder in the future as the next generation of burned idea makers gets into the second or third project.
If tech can engineer a soft landing, and keep the excesses at bay while showing a solid return on those companies or technologies that are bought by the bigger fish, then we might have beat the boom/bust cycle that is technology.
While only time will tell, moving into the next round of technology, web 3.0, and the ability to bring news based on smaller social circles of known people, or known sources of information is also moving ahead nicely as well. Many of the stealth companies are working on that issue, but that also entails a certain amount of isolation for people who will participate in web 3.0.
It will be really interesting to watch were we go from web 2.0 to web 3.0 and how social circles and bigger companies start to relate to the startups and how those technologies gets incorporated into bigger products. Google with a semantic search capability would be excellent, and much more usable than Ms. Dewy.
Tag: Web 1.0, Web 2.0
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About the Author:
Dan Morrill has been in the information security field for 18 years, both civilian and military, and is currently working on his Doctor of Management. Dan shares his insights on the important security issues of today through his blog, Managing Intellectual Property & IT Security, and is an active participant in the ITtoolbox blogging community.
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