Thoughts on Web 2.0 in a Summary Format

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Tim O’Reilly in his commencement speech at the Berkeley School of Information:

“When we first began thinking about Web 2.0, we asked ourselves what distinguished the companies that survived the dotcom bust from those that failed. And we came up with the surprising observation that in one way or another, each of them was good at harnessing user contributions, applying some of the same insights to consumer applications that leading edge software developers have applied to open source software projects like Linux.

(…) If history is any guide, the democratization promised by Web 2.0 will eventually be succeeded by new monopolies, just as the democratization promised by the personal computer led to an industry dominated by only a few companies. Those companies will have enormous power over our lives — and may use it for good or ill.”