Monetizing the Wasteland

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Nicholas Carr on user-generated content:

“It’s worth stopping for a second and thinking back to the old-school web – Web 1.0, as we call it now – and who made money off that big boom. Most of the money back then wasn’t earned by the cool dot-coms. It was earned by the boring old farts who sold the cool dot-coms the computer and networking gear they needed to rapidly scale up their businesses to the point where they’d be certain to collapse in the most spectacular fashion possible. (…) The way the Web 1.0 dot-com pioneers used pricey computer gear, the Web 2.0 digital-media pioneers use bandwidth.”