Russell nails a number of things bang on in his post:
The worst thing about all the Web 2.0 hype is the complete loss of business perspective. There’s a few companies out there that seem to get it but just about every other new website I’ve seen lately is nothing but features parading as businesses. Sure, these guys get to be entered in the “Flip It Quick Acquisition Lottery”, but beyond that, none seem to be creating anything of any real value.
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What part of “Version 2″ don’t these people get? Doesn’t anyone remember the web bubble and bust from the v1.0 days? Remember what happened when Alan Greenspan finally looked around and said, essentially, “WTF is going on here?” Are they really that eager to duplicate that experience?
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But let’s think of some of the popular new site launches lately… web chat and IM comes to mind. WTF is the business? All those Map mashups out there? WTF is the business? Calendaring and Ajax desktops? WTF is the business? They’re just FEATURES built on top of other company’s APIs, adding very little real value, and not making a dime of profit.
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