Web 2.0

What is Web 2.0

There are several definitions floating around Web2.0. The most simplistic definition would be second generation of Internet based services.

The first generation was during dot com boom where the major emphasis was to publish your content on the web and look for ways to find more number of subscribers. The second generation is all about easy and to certain extent real time collaboration. You do not need a heavy investment to publish your content. You do not need heavy investment to reach millions of users. The technology enables you to publish your opinions, demonstrate your strengths and get feedback from other Internet users.

Web2.0 is a combination of technology, business trend and newer approach of using an Internet.

Is web2.0 a bubble?

I do not think so. Bubble is always related with Finance. Finance bubble occurs in two simple steps: 1. People invest too much due to some fortune telling or speculation and 2. Withdraw money all of a sudden because of another speculation. Today all of us are very careful investors since we saw the dot com burst just a few years ago. People will invest in companies who solve customer’s problems with the help of technology rather than just provide a technology.

What problems web2.0 can solve?

I can think of few areas.
1. Web 2.0 is a great media for people having great skills but unable to demonstrate in front of mass audience because of lack of funding or unavailability of platform. E.g. a person living in third world country has great product ideas then it’s easy for him/her to share through wikis.
2. Offshore software development model can utilize web2.0 for effective communication.
3. Offshore manufacturing models can utilize it for collaboration with different companies in supply chain. E.g. Design partners, tooling partners, suppliers, contract manufacturers, OEMS can collaborate for new product launching.

There might be more than these applications. The companies in this space will be successful only if they solve the real customer problems.


How Web2.0 can generate money?

I think the revenue generation is through effective advertisement. I feel that Internet is major competitor of television. In few years advertisement on Internet will be more effective than advertisements on television.