This blogging job is a lot harder than I thought so I give props to John Chow, Shoe Money and Michael Arrington who make it look so easy!

While I was running tonight I was trying to think of an interesting blog topic. This is what I came up with: Web 2.0, Making The World a Better Place?

Early entrepreneurs were involved in creating businesses that could create profits right away. Entrepreneurs like K. C. Irving and Sam Walton knew they had to create a business where there would be some return in investment quickly. Most people would agree this is the foundation of business, start a company that can make you lots of money.

When the internet first was born entrepreneurs were trying to gage how they could bring existing bricks and mortar companies to the online world. This created some of the most valuable internet companies like Amazon and eBay. Then came along a company called Google. They did not have any real plans of monetizing their service but they knew money would help them create a central place for the worlds information.

Investors and Venture Capitalists now realize how big of behemoth Google has become after their IPO. Investors try to focus on these services that have no real current monetization model in the hopes they eventually find one.

Investors do not want to miss out on another Google hence why Facebook is so highly valued and easily got funding. They are having current troubles monetizing though.

This began the real Web 2.o funding as I call it. Build a service that tailors to people then find a way to monetize it. Be people-centric not money-centric. Unfortunately a lot of entrepreneurs have problems monetizing their service once they have become popular with the ease of viral marketing in the Web 2.0 world.

Since the web is all about being people-centric now with no censorship (except in China and Australia) people can see the media in an unbiased or really biased opinion. They are now able to engage in comments and give their thoughts about news or articles. It has enabled Wikipedia to have some of the most updated Wikis on anything and monitored by anyone. So when your university professor tells you not to use Wikipedia for that reason be sure to mention to him that before Wikipedia anyone could write a book and have anyone from a publishing company read it and publish it. Don’t you think having millions of people reading and reviewing does a much better job? This in my opinion is why Web 2.0 helps make the world a better place.

The companies who will really cash out in the next 5 to 10 years are the ones who have spent the last 5 to 10 years acquiring a huge amount of users. Companies like Google, Microsoft and Yahoo are among them, as the world embraces Web 3.0 (semantic web) and OpenID.

Now services will be built around OpenID and the privacy of the users will rest in these big companies hands.

You may agree or disagree with my post but I would love to hear your points so please comment.

This entry was posted on Thursday, March 6th, 2008 at 11:34 pm and is filed under Internet, Ramblings, Technology, Web 2.0. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.