End Of Web 2.0?

Posted by Jozzua on Oct 14, 2008 in Random Blabber | 2 comments

They partied. They sang. All the while, the web 2.0 burned down.

Well, that’s what the criticism over the the ‘party video’ composed of some notable employees of known Web 2.0 companies:

A group of twenty or so tech elite were partying 1999-style in Cyprusthis last week, and posted a lip sync video of the Journey song “Don’t Stop Believing” a couple of days ago. Among the group were Brittany Bohnet of Google, Mike Hudack of Blip.tv, Dave Morin and Aaron Sittig of Facebook, Sam Lessin of Drop.io and Jessica Vascellaro, the Wall Street Journal’s Silicon Valley beat reporter.

This video gained notoriety for being showcased just as internet stocks were tumbling around.

First, let’s see what web 2.0 is:

Web 2.0 is a term describing changing trends in the use of World Wide Web technology and web design that aims to enhance creativity, secure information sharing, collaboration and functionality of the web.

Web 2.0 is the business revolution in the computer industry caused by the move to the Internet as platform, and an attempt to understand the rules for success on that new platform. – Tim O’ Reilly.

Companies like Google and Facebook are considered web 2.0 companies.

Web 2.0 is dying?

Critics are saying web 2.0 has just ended. Stocks of your favorite tech companies plummeted in the past week. Google, for instance was trading just at the $450 mark last week. Today, its at $332. Just take a long at the following stock chart for a telling summary:
Click to Enlarge

Not In Manila
Surprisingly, while all this is going on in the US, the Ayala foundation is investing in start up tech companies:

Ten startup companies will be moving into the Ayala Technology Business Incubator (TBI) facility located in a soon-to-operate technopark across UP Diliman.

The said facility is managed by the Ayala Foundation, which previously set up a similar incubation facility inside UP campus.

The Philippines seems to be immune to the Web 2.0 demise for the moment.

Well, hope the party lasts.