Russell Beattie: The worst thing about all the Web 2.0 hype is the complete loss of business perspective. Web 2.0 was about platforms, open APIs enabling real business, not the overhyped traffic generators of the late 90s which did nothing but waste a lot of investor’s money. Yup, he knows how to say how he feels about the current euphoria.

Om Malik is a San Francisco based writer, photographer and investor. Read More

4 thoughts on “WTF 2.0”

  2. i think that alot (maybe 70%) of these projects are a bunch of guys getting together, thinking “i think it’d be neat to see what i can do with ruby or ajax or whatever”
    then they have this ajax portal, and think its the best thing since sliced bread. I think that some of the VCs are to blame for funding some of these me-too projects.

  3. Who is to say that any of these start-ups do not have a plan to monetize? You (Russell) don’t know everyones’ long term strategies. Maybe they there is a strategic reasons to not tell everyone what their plans are. Could a developer take a huge amount of VC without thinking about how they are going to make the money back? And if a team of developers want to make something great, who are you to get down on them for trying just because there is no business plan? If the service is that great, and has a ton of users that find value in the service, there will always be a way to make money with it or an alternate version of a service, or something in the same spirit as the service. Unlike web 1.0 where there was a lot of physical inventory logistics, web 2.0 web apps only depend on eachtoher, the users, servers, and a way to keep the servers running (assuming the TOS have no warranty to avoid legal engagements). Some developers are working in their spare time. Look at del.icio.us. What was the business model? VCs funded it anyway, and it, and Yahoo bought it. Start-ups, don’t let anyone try to discourage you or try to squash your dreams. If your idea is dumb (and I am sure it is not because you are going to put your heart, soul, and endless hours of your life into it) and a VC gives you money anyway, it is the VC’s fault. May the best idea/strategy win (the ability to become a money making business).

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