A new article by the Financial Times claims the Web 2.0 movement is changing behavior but not making money.
The FT says online entrepreneurs have “produced little in the way of revenue” despite the progress made in content and interactivity. It quotes an executive at tech investor Battery Ventures as saying there is going to be “a big shake-up out here in the next year or two,” with many of the Web 2.0 start-ups vanishing off the map altogether.
Its ending assessment is also one of optimism, saying the changes brought about by 2.0 are long-lasting and the dollar signs may just be slow-coming.
“The capabilities that are coming with Web 2.0 are very profound,” Thomson Reuters exec Devin Wenig told FT. “The Valley is usually right, and it’s usually early.”