Web 2.0
"People are growing up with the internet, and the internet is growing up with them. It is evolving. Email was once a marvel of practicality and utility; people under the age of 25, though, never knew a time before it was broken by spam, and prefer to use instant messaging or texting. In the corporate world, as a publisher once told me, "email's main function is as an instrument of torture". In civilian life, I increasingly notice that people don't actually read their email; they sort of skim it, and get the gist, and any fine distinctions or crucial information are usually best communicated in some other way. So the heroic period of email is already in the past. No one could have predicted that, just as no one could have predicted the extraordinary, dizzying multiplying of the number of blogs being written. (I don't say read.)
That number has been doubling every six months for the past three years: there are now, as of July 31, more than 50m blogs on the internet; 175,000 new blogs are created every day - that's two every second. The dominant languages (they jockey from month to month) are Chinese, Japanese and English. There are 1.6m blog posts a day.The shorthand term for what is happening now is "Web 2.0", a designation coined at a conference in 2004 by the web-business booster Tim O'Reilly, as describing "an attitude rather than a technology". The phrase is a shorthand for the second internet goldrush, to follow the one that ended in 2000 with arguably the biggest destruction of investors' capital in history. From the business point of view, the defining feature of this new goldrush is that established companies are throwing huge amounts of money at upstarts who have three things in common: they have grown from nowhere with astonishing speed; they have no revenue stream to speak of; and most of their content is provided by their users.
Thus we have Murdoch's buy of MySpace in July 2005, Yahoo's of Flickr in March 2005 and its rumoured to be imminent buy of Facebook for around $1bn, and - in money terms the biggest of them all - Google's $1.6bn acquisition of YouTube on October 9. That's a great deal of money raining down on some happy, happy nerds. Chad Hurley and Steve Chen only founded YouTube in February 2005. Their creation has grown in value at a rate of more than $100m a month - which must surely be a world record. That's a hell of a lot of money to be earned by the founders of a company with no earnings."
posted by kschmiddy at 4:48 AM
2 Comments:
kate, you need to come up with something quirky and strike it rich for all of us. $100m a month doesn't sound bad:) whatev...i totally need to finish The Lexus and the Olive Tree to understand all of this stuff better. the world is changing (kinda).
The bit at the end really struck me as well...
"It struck me that everybody on the net is sitting alone at a computer screen, and many of them are wishing they weren't alone, while also, often, in some deep way, preferring that they are alone and being nervous of the alternative. Sit someone at a computer screen and let it sink in that they are fully, definitively alone; then watch what happens. They will reach out for other people; but only part of the way. They will have "friends", which are not the same thing as friends, and a lively online life, which is not the same thing as a social life; they will feel more connected, but they will be just as alone. Everybody sitting at a computer screen is alone. Everybody sitting at a computer screen is at the centre of the world. Everybody sitting at a computer screen, increasingly, wants everything to be all about them. This is our first glimpse of what people who grow up with the net will want from the net. One of the cleverest things about MySpace is the name."
Things are really differnt than they were even 10 years ago. Even social interaction and communication...
Good article. Makes you think.
J
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