It Feels Like 1998 All Over Again

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Justin Hibbard and Heather Green from BusinessWeekonline wonders whether the Web 2.0 VC/startup mania is similar to 1998:

“Although no one agrees on the precise meaning of Web 2.0, its ideology holds that a second generation of Internet companies will improve on the groundwork laid by the first generation. Like the New Economy and other theories that accompanied past bubbles, Web 2.0 maintains that we have entered a new era in which the rules are different: Net startups no longer require lots of capital, they can build cheaply on Net infrastructure that didn’t exist 10 years ago, and a critical mass of consumers is now online. “