WEBVTT - What does Web 2.0 mean? 0:00:00.320 --> 0:00:02.880 Brought to you by the reinvented two thousand twelve camera. 0:00:03.240 --> 0:00:08.920 It's ready. Are you get in touch with technology with 0:00:09.080 --> 0:00:18.160 tech Stuff from how stuff works dot com. Hello again, everyone, 0:00:18.200 --> 0:00:20.520 and welcome to tech stuff. My name is Chris Polette. 0:00:20.560 --> 0:00:23.239 I am an editor here at how stuff works dot com, 0:00:23.680 --> 0:00:26.119 and sitting across from me, as he always does, is 0:00:26.520 --> 0:00:30.320 senior writer Jonathan Strickland. The only way to win is 0:00:30.360 --> 0:00:34.680 not to play. You know, I really enjoy our our 0:00:34.760 --> 0:00:38.080 new studio. This is so much nicer than I'm glad. Uh. 0:00:38.159 --> 0:00:40.400 The only thing is the pool. We have to kind 0:00:40.400 --> 0:00:41.640 of stay out of the pool because it makes a 0:00:41.640 --> 0:00:43.559 lot of noise when we're trying to uh, trying to 0:00:43.600 --> 0:00:46.680 record a podcasts really stir Josh and Chuck and the 0:00:46.920 --> 0:00:50.440 electricity incident. We really don't want to get in net 0:00:50.440 --> 0:00:53.840 pool anyway. So let's talk a little bit about a 0:00:53.920 --> 0:00:58.760 subject that I find endlessly entertaining. Sure, Web two point oh? 0:00:59.320 --> 0:01:02.040 The heck is it? Is it? What we think it is? 0:01:02.240 --> 0:01:06.720 Doesn't mean anything? Where am I? Where do I live? What? 0:01:07.280 --> 0:01:08.800 I'm sorry? I just I kind of get off on 0:01:08.840 --> 0:01:11.759 a whole series of questions there. Web two point oh 0:01:11.800 --> 0:01:13.399 can mean a lot of things. But I can tell 0:01:13.400 --> 0:01:15.920 you what it meant when it was coined, and the 0:01:15.959 --> 0:01:18.840 person you have to think or blame, depending on how 0:01:18.840 --> 0:01:21.080 you look at it, I think in general, probably think 0:01:21.360 --> 0:01:25.560 would be O'Riley, the publisher, O'Riley vice president Dale Doherty, 0:01:25.560 --> 0:01:29.399 who came up with the idea, uh, basically back in 0:01:29.680 --> 0:01:33.160 a retreat that they were talking about different things, and 0:01:33.640 --> 0:01:36.080 essentially what he meant at the time was these websites 0:01:36.200 --> 0:01:39.520 survived the dot com crash, and this is why because 0:01:39.560 --> 0:01:42.039 they had they sort of had a common set of 0:01:42.080 --> 0:01:45.039 characteristics that people still wanted to use, right right. What 0:01:45.200 --> 0:01:48.520 sort of qualities set those companies apart from the ones 0:01:48.560 --> 0:01:53.080 that collapsed dot com crash? Sorry I'm interrupting. These guys 0:01:53.120 --> 0:01:54.800 had a business model in a lot of cases, and 0:01:54.840 --> 0:01:58.200 some of them didn't, which helped them along. Let's talk 0:01:58.240 --> 0:02:00.280 about the dot com crash a little bit before we 0:02:00.320 --> 0:02:03.360 get into web two point. Oh so, let's let's cast 0:02:03.400 --> 0:02:06.640 our minds back to the mid nineties. Okay, but I 0:02:06.640 --> 0:02:09.119 can't throw very far. I've kind of a wimpy arm. Right, Well, 0:02:09.160 --> 0:02:11.000 your brain doesn't weigh that much, so I think you'll 0:02:11.040 --> 0:02:12.920 be able to get some more distance than you think 0:02:13.320 --> 0:02:17.680 the back in the mid nineties. The web is relatively new. 0:02:18.000 --> 0:02:19.959 You know, the web really started coming out in the 0:02:20.320 --> 0:02:24.399 early nineties, UM, and companies were just starting to kind 0:02:24.400 --> 0:02:27.880 of get a presence on the web, and we started 0:02:27.919 --> 0:02:32.000 seeing companies that with existence that existed outside the web 0:02:32.639 --> 0:02:35.520 make an entry first, right right, So, like you know, 0:02:35.560 --> 0:02:39.120 it would be some recognizable brand creating a website as 0:02:39.120 --> 0:02:41.280 a way of marketing that brand. Now, at the time, 0:02:41.440 --> 0:02:43.639 no one really knew the most effective way of doing 0:02:43.639 --> 0:02:46.799 it because it was so brand new, right right. And 0:02:46.800 --> 0:02:48.840 in addition to a lot of a lot of companies 0:02:48.880 --> 0:02:50.600 thought it was just a flash in the hand. They 0:02:50.600 --> 0:02:53.000 didn't see a whole lot of value in even bothering 0:02:53.000 --> 0:02:55.040 with it in the first place. Well, and I can 0:02:55.080 --> 0:02:57.120 kind of understand why, because at the time it was 0:02:57.160 --> 0:03:00.920 really a niche thing that at that time. Again, college 0:03:00.919 --> 0:03:04.640 students were probably the number one consumers of the web 0:03:04.680 --> 0:03:08.040 when it first came out. UM and then people in 0:03:08.120 --> 0:03:10.960 research facilities think people who are using it as a 0:03:11.280 --> 0:03:15.760 means of actually communicating their their work to one another. Uh. 0:03:15.800 --> 0:03:17.960 And so in those early days, you might have thought, 0:03:17.960 --> 0:03:21.919 if you were if you were a corporate executive that, uh, 0:03:21.960 --> 0:03:24.880 why would we market directly to these people. We can 0:03:25.040 --> 0:03:28.960 use television and print marketing the way we've always used it. Um, 0:03:29.400 --> 0:03:32.280 this web thing is never going to go anywhere. Of course, 0:03:32.639 --> 0:03:36.960 that was not the case. The web exploded, and during 0:03:36.960 --> 0:03:39.840 that explosion, a lot of people got this kind of 0:03:39.920 --> 0:03:42.680 cool idea, like, what if we built a company that 0:03:43.360 --> 0:03:47.840 was founded upon the web. Web itself was the face 0:03:48.000 --> 0:03:52.480 of the company, the interface between company and customer, and 0:03:53.640 --> 0:03:56.560 will provide either a product or a service, and the 0:03:56.640 --> 0:03:59.280 web will be the way that we uh that we 0:03:59.360 --> 0:04:03.000 present that to to the average customer. And a lot 0:04:03.040 --> 0:04:06.640 of different companies sprung up using this idea. Everyone's thinking, 0:04:06.720 --> 0:04:08.560 this is going to be the future. Everyone's gonna buy 0:04:08.560 --> 0:04:12.800 everything online, um and uh. And before you knew it, 0:04:13.280 --> 0:04:17.000 companies were popping up in in the dozens every single day, 0:04:17.400 --> 0:04:20.159 and you had lots of investors interested in this idea 0:04:20.520 --> 0:04:24.920 pouring money into these these companies um that had either 0:04:25.279 --> 0:04:29.560 no business model, an unproven business model, or at least 0:04:29.600 --> 0:04:34.280 at the very least no proven revenue, right, I mean 0:04:34.320 --> 0:04:38.080 they I've heard more than one person referred to the 0:04:38.160 --> 0:04:40.360 early days of the web as sort of a wild 0:04:40.400 --> 0:04:45.120 West scene. You know, to overuse a cliche, but um, 0:04:45.160 --> 0:04:47.919 you know, essentially, you know, it kind of was like 0:04:47.960 --> 0:04:50.839 that people were in such a hurry to to to 0:04:50.880 --> 0:04:53.400 claim their territory, to to come to the web with 0:04:53.440 --> 0:04:56.520 a brand new idea or at least, you know, one 0:04:56.600 --> 0:04:59.200 that they could take ownership off before everyone else got 0:04:59.200 --> 0:05:01.640 to it, that they didn't really think through things very 0:05:01.640 --> 0:05:03.760 well well. And and these a lot of these little 0:05:03.800 --> 0:05:06.719 companies did not need the massive amount of investment that 0:05:06.760 --> 0:05:10.080 they received, and in a way that actually ended up 0:05:10.160 --> 0:05:12.680 hurting them. You get a company that what might need 0:05:13.000 --> 0:05:16.240 let's say a hundred thousand dollars investment in order to 0:05:16.240 --> 0:05:18.719 to really get off the ground and work, and what's 0:05:18.839 --> 0:05:22.640 instead get a million dollars of investment. And so the 0:05:22.680 --> 0:05:24.760 person righting the company be like, well, great, now I 0:05:24.760 --> 0:05:26.920 can hire tons and tons of people. And you ramp 0:05:27.000 --> 0:05:30.160 up faster that before you've even built an infrastructure, So 0:05:30.200 --> 0:05:33.240 before you've built the basic structure for your your business 0:05:33.279 --> 0:05:36.640 to rest on, you are going into full swing. And 0:05:36.760 --> 0:05:39.240 a lot of these companies could not maintain that momentum. 0:05:39.320 --> 0:05:41.840 And in fact, you got to hear stories about how 0:05:41.880 --> 0:05:44.600 people were going to be paid in in stock options 0:05:45.080 --> 0:05:48.720 because these companies were doing crazy amounts of of you know, 0:05:48.800 --> 0:05:52.320 the the amount of money being invested into into them. UM. 0:05:52.480 --> 0:05:54.920 Some of the ones that went public, their stocks rose 0:05:55.080 --> 0:06:00.280 dramatically overnight because everyone was interested in it. I mean, 0:06:00.480 --> 0:06:03.400 the initial public offering or i p OH for some 0:06:03.440 --> 0:06:08.080 of these companies was massive, and and in the weeks 0:06:08.120 --> 0:06:12.120 immediately following UM, some of the people who had stock options, 0:06:12.120 --> 0:06:14.880 and some of the very early pioneers of the Internet, 0:06:14.960 --> 0:06:16.880 some of the ones that are still around, especially the 0:06:16.880 --> 0:06:19.440 ones who've had real staying power, they made quite a 0:06:19.440 --> 0:06:22.040 bit of money just on the stock options that they 0:06:22.040 --> 0:06:25.200 were granted as part of their UH incentive packages. Right now, 0:06:25.279 --> 0:06:27.240 if you were if you were to make a ton 0:06:27.279 --> 0:06:31.560 of money off this initial UM Internet boom, this initial 0:06:31.560 --> 0:06:34.200 web boom, the best way for you to have made 0:06:34.279 --> 0:06:36.800 money off this would be to get tons and tons 0:06:36.800 --> 0:06:39.960 of stock and then almost immediately sell it off because 0:06:40.160 --> 0:06:43.520 because the real problem was that as the reality set 0:06:43.560 --> 0:06:47.320 in that these companies were not generating revenue and therefore 0:06:47.400 --> 0:06:49.440 not making a return on the investment that had been 0:06:49.480 --> 0:06:52.960 poured into them, the companies began to collapse. Now the 0:06:52.960 --> 0:06:55.520 stock became worthless, and so people who were paid in 0:06:55.560 --> 0:06:59.400 stock essentially made nothing. UM or or close to nothing, 0:06:59.760 --> 0:07:02.200 and a lot of these companies went away and only 0:07:02.320 --> 0:07:07.599 a few, uh by relative means anyway, survived. Now, those 0:07:07.640 --> 0:07:12.200 companies that did survive were the ones that that Dougherty said, 0:07:12.200 --> 0:07:14.600 we're web two point o companies. These were the ones 0:07:14.640 --> 0:07:18.240 that did something differently than the ones who died out, 0:07:18.800 --> 0:07:21.040 and that's why they were able to stick around. So 0:07:21.240 --> 0:07:25.840 the the task at hand at this this conference was 0:07:26.240 --> 0:07:29.320 let's look at these companies, see what sort of things 0:07:29.400 --> 0:07:32.960 they did differently, and then that is what we will 0:07:33.000 --> 0:07:36.040 now define as being what is required to be successful 0:07:36.360 --> 0:07:41.440 a successful company on the web. Yeah, and uh, over 0:07:41.480 --> 0:07:45.720 the years, I think people didn't necessarily understand what what 0:07:45.760 --> 0:07:48.840 he meant, um because web two point out of the 0:07:48.960 --> 0:07:51.200 term web two point I was kind of gotten hijacked 0:07:51.760 --> 0:07:56.320 and almost now is synonymous with social networking. Yeah, and 0:07:56.360 --> 0:08:01.160 that's that's simply because, Um, their earliest websites were basically 0:08:01.400 --> 0:08:04.560 one way websites. The publisher would put them up on 0:08:04.600 --> 0:08:07.280 the web, and I mean about the most interaction you 0:08:07.360 --> 0:08:09.440 had with it was, you know, if there was an 0:08:09.480 --> 0:08:12.160 email address on there for you to reply to, you 0:08:12.200 --> 0:08:15.360 could you know, send the author an email and let 0:08:15.360 --> 0:08:17.080 them know what was going on but there were really 0:08:17.120 --> 0:08:21.880 wasn't any embedded interaction of any kind, and the content 0:08:21.960 --> 0:08:25.400 on that site in general tended to be static. So 0:08:25.560 --> 0:08:28.880 you had an animated gif alright, But the what I 0:08:28.880 --> 0:08:31.560 mean by static is that it did not change. In 0:08:31.600 --> 0:08:34.840 other words, if you visited it in May of nine 0:08:35.600 --> 0:08:39.640 and then you went back in March of of and 0:08:39.679 --> 0:08:43.199 the web page was essentially the same page because there 0:08:43.280 --> 0:08:45.360 was no you know, it wasn't dynamic at all. It 0:08:45.400 --> 0:08:48.320 would just stay the same. There wasn't really any incentive 0:08:48.360 --> 0:08:50.800 to go back to that web page, right, And a 0:08:50.800 --> 0:08:54.160 lot of companies hadn't really figured out how to leverage 0:08:54.160 --> 0:08:57.079 the web in such a way where you were providing 0:08:57.400 --> 0:09:00.520 useful information and a useful way for customers to interact 0:09:00.960 --> 0:09:03.680 beyond just saying, hey, this is who we are and 0:09:03.720 --> 0:09:06.520 this is what we do, especially not in a way 0:09:06.520 --> 0:09:08.720 that they could monetize and and try to make a 0:09:08.760 --> 0:09:10.800 business out of. So let's talk about you could put 0:09:10.840 --> 0:09:12.880 anything you wanted to on there, but if people weren't 0:09:12.920 --> 0:09:15.720 coming back and they weren't buying something from you, you 0:09:15.920 --> 0:09:18.000 really weren't getting anything from it. A matter of fact, 0:09:18.080 --> 0:09:20.600 if you were paying for hosting, then you are paying 0:09:20.640 --> 0:09:22.960 money to read your content. For them to read your 0:09:22.960 --> 0:09:25.640 content and not getting anything in returns, that really isn't 0:09:25.640 --> 0:09:28.400 a particularly practical business model. Now that's that's what we 0:09:28.480 --> 0:09:31.480 call a bad business model. Let's talk about one that 0:09:31.480 --> 0:09:33.680 actually ended up being a good business model, although it 0:09:33.679 --> 0:09:36.000 took years for it to turn around. And I'm talking 0:09:36.040 --> 0:09:40.679 about Amazon dot Com. Yes. Now, Amazon was one of 0:09:40.040 --> 0:09:43.319 the companies that Alerty would point to and say, this 0:09:43.360 --> 0:09:45.120 is an example of web two point oh, and I 0:09:45.160 --> 0:09:47.480 would agree, even though it was a company that took 0:09:47.679 --> 0:09:50.800 years for it to really start making enough money to 0:09:50.800 --> 0:09:54.080 to start and being a return on investment UM. One 0:09:54.160 --> 0:09:56.920 of the things that Amazon did that really helped out 0:09:56.960 --> 0:10:00.800 early on was Amazon allowed its users to post reviews 0:10:00.840 --> 0:10:04.560 of products. Yes, and this was a an interactive way 0:10:04.600 --> 0:10:07.880 where customers could get involved in the process and it 0:10:07.880 --> 0:10:12.640 it it added value to Amazon dot COM's service, and 0:10:12.720 --> 0:10:15.360 because of that, it was able to survive the dot 0:10:15.360 --> 0:10:17.760 com crash, or that's part of why it was able 0:10:17.800 --> 0:10:21.520 to survive. The fact that it that customers valued that 0:10:21.640 --> 0:10:23.840 particular part of the service, as well as the fact 0:10:23.880 --> 0:10:25.600 that they could use it to to shop for whatever 0:10:25.600 --> 0:10:28.480 it is they wanted UM meant that they would come 0:10:28.520 --> 0:10:31.320 back to Amazon dot Com and actually use the service, 0:10:31.400 --> 0:10:33.120 as opposed to some of these others where you visit 0:10:33.200 --> 0:10:34.600 once and then you're like, well that was cool, but 0:10:34.640 --> 0:10:37.120 there's no reason to ever come back. Another thing that 0:10:37.520 --> 0:10:40.600 Amazon had in its favor is the algorithm on the 0:10:40.640 --> 0:10:44.600 back end that enables uh, the software running the site 0:10:44.640 --> 0:10:48.040 to identify not only what you have bought, but it 0:10:48.040 --> 0:10:51.839 helps you It helps match up customers that have bought 0:10:51.840 --> 0:10:55.320 the same thing and make recommendations to you. So suddenly 0:10:55.360 --> 0:10:58.600 there's a reason to go back and shop because you go, yeah, 0:10:58.720 --> 0:11:01.960 you know, I really like this one book, but you know, 0:11:02.280 --> 0:11:04.240 I don't know, I don't really know what I want 0:11:04.280 --> 0:11:07.040 to read next. And Amazon dot Com could say, well, 0:11:07.080 --> 0:11:09.360 you know what, other people who bought this book bought 0:11:09.400 --> 0:11:12.120 this book too, and you you know, read the description 0:11:12.160 --> 0:11:13.560 of it and read some of the reviews, and you know, 0:11:13.600 --> 0:11:15.560 you know what, that really does look good. And of 0:11:15.600 --> 0:11:18.600 course they expanded into many many other markets as well. 0:11:19.040 --> 0:11:22.200 But you know, just it's an experience where you go 0:11:22.320 --> 0:11:26.160 to shop, you get an idea of what people think 0:11:26.200 --> 0:11:28.560 about the product, you get an idea of other things 0:11:28.559 --> 0:11:30.200 that you could buy along with it. That's, you know, 0:11:30.240 --> 0:11:33.880 the add on sale and retail terms. Um, oh, hey, 0:11:33.920 --> 0:11:35.840 you're buying this, other people like this one, why don't 0:11:35.880 --> 0:11:38.840 you buy both for especially discounted rate. Um. You know 0:11:38.880 --> 0:11:42.319 that that really helped them survive and and thrive really 0:11:42.320 --> 0:11:46.640 in the in the post dot com crash market. Um. 0:11:46.679 --> 0:11:51.839 And it also sort of spawned what Wired um editor 0:11:52.360 --> 0:11:55.760 Chris Anderson called the long tail, because suddenly you were 0:11:55.760 --> 0:11:59.560 finding items in the back catalog, things that may have 0:11:59.640 --> 0:12:03.600 even been published years ago, um, that other people liked, 0:12:04.000 --> 0:12:06.400 and suddenly those items were starting to sell. And it 0:12:06.480 --> 0:12:10.720 wasn't just the top ten of of you know, just 0:12:10.760 --> 0:12:13.480 the best sellers, it was pretty much anything that that 0:12:13.600 --> 0:12:16.680 Amazon carried, and um, suddenly they were able to compete 0:12:16.720 --> 0:12:18.800 with the brick and mortar stores the world, which basically 0:12:18.880 --> 0:12:21.880 were just carrying stuff that they knew they could sell 0:12:22.520 --> 0:12:26.240 right now. So UM, that was definitely a good example 0:12:26.280 --> 0:12:29.880 of that. Yeah, and uh, getting back to the dynamic 0:12:29.960 --> 0:12:33.000 ver sycstatic, this is also when we started seeing things 0:12:33.080 --> 0:12:36.560 like trends like blogging really start to take off. Blogging 0:12:36.679 --> 0:12:39.080 is another good example, and that it's if you go 0:12:39.160 --> 0:12:43.240 to a blog, then that that content changes sometimes on 0:12:43.280 --> 0:12:46.280 an hourly basis, depending on the blogger, but at least 0:12:46.400 --> 0:12:48.880 like if you visit a blog a couple of times 0:12:48.880 --> 0:12:52.520 a week, you'll notice that there's new content up. Um 0:12:52.640 --> 0:12:55.520 blogging was one of those things that really attracted people 0:12:55.559 --> 0:12:57.760 to different websites. Again, it gives you a reason to 0:12:57.880 --> 0:13:00.640 return to the same site over an over again. It's 0:13:00.679 --> 0:13:03.040 not just that you know you don't you don't go 0:13:03.120 --> 0:13:05.640 there just whenever you need something specific. You go there 0:13:05.679 --> 0:13:07.800 because you're interested in the bloggers point of view and 0:13:07.840 --> 0:13:10.240 you want to see the latest information that that person 0:13:10.320 --> 0:13:13.480 has to offer. Um also the whole Wisdom of the 0:13:13.480 --> 0:13:16.320 crowds notion. This is another one of those things that 0:13:16.360 --> 0:13:17.920 came out of the whole web two point o. And 0:13:18.040 --> 0:13:20.439 we touched on it with the Amazon dot Com stuff 0:13:20.440 --> 0:13:23.840 and the user reviews. But another, of course, another great 0:13:23.840 --> 0:13:26.559 example of that would be all the wikis, including Wikipedia, 0:13:27.400 --> 0:13:31.600 and these are websites that have become successful because they 0:13:31.640 --> 0:13:34.760 build a community of users and they rely upon the 0:13:34.880 --> 0:13:38.600 users to provide content. So you're no longer just creating 0:13:38.640 --> 0:13:41.040 content and serving it to people and telling them that's 0:13:41.080 --> 0:13:44.520 what they want. That's the Steve Jobs method. What you're 0:13:44.559 --> 0:13:47.960 doing is you're allowing the community of users to create 0:13:48.000 --> 0:13:50.600 the content that they do want and that they're all 0:13:50.640 --> 0:13:54.280 providing their own point of view and their own expertise 0:13:54.600 --> 0:13:57.520 to kind of to build it up over time. Now, 0:13:57.920 --> 0:14:01.760 this is not always success. Well, there are problems that 0:14:01.960 --> 0:14:05.160 come up because we're people, and people tend to have 0:14:05.240 --> 0:14:09.440 different ideas of what's best for any given situation, and 0:14:09.520 --> 0:14:11.520 some of them have agendas and you know that can 0:14:11.520 --> 0:14:17.719 come into play too, But the basic idea is pretty sound. Yeah, no, 0:14:17.840 --> 0:14:20.560 I was, you know, the idea of user generated content 0:14:20.640 --> 0:14:24.680 folksonomy's crowdsourcing, you know, getting everybody into the act instead 0:14:24.680 --> 0:14:28.760 of just the content producers. Um. Again, Anderson said, you know, 0:14:28.880 --> 0:14:33.720 computers democratized the act of creating content, and the Internet 0:14:33.880 --> 0:14:38.600 basically democratized the act of, uh of distributing that content, 0:14:38.600 --> 0:14:41.720 and suddenly everybody's you know, creating videos to share on 0:14:41.760 --> 0:14:45.520 YouTube and taking other items and mashing them together to 0:14:45.600 --> 0:14:49.040 make new things. Um. Then you have you know, the 0:14:49.040 --> 0:14:52.680 interactivity sites where there are you know, games and and 0:14:52.760 --> 0:14:56.560 things that you can do ajax and the other a 0:14:56.680 --> 0:14:59.200 p I s that allow you to, uh to make 0:14:59.400 --> 0:15:02.840 individual sites much more interactive and and functional than they 0:15:02.920 --> 0:15:05.240 used to be for the user. And you can customize things, 0:15:05.240 --> 0:15:08.840 you know, portals, um, where you really have control over 0:15:08.840 --> 0:15:12.120 the content RSS feeds to bring to incorporate your blogs 0:15:12.640 --> 0:15:16.000 into a reader. Yeah, you can syndicate your blog feeds 0:15:16.080 --> 0:15:19.360 and aggregate them in one place, um, along with weather 0:15:19.560 --> 0:15:22.880 and traffic and stock reports and all that stuff. You know. 0:15:22.880 --> 0:15:26.200 It's it just makes those sites interactive, you know, and 0:15:26.320 --> 0:15:30.240 to the point where, uh, you can you have a 0:15:30.320 --> 0:15:33.120 reason to come back to them every day, and there 0:15:33.200 --> 0:15:36.520 there is a way to keep you there. Um. You know, 0:15:36.560 --> 0:15:39.760 Facebook certainly has found a way to do that. Yeah, 0:15:39.920 --> 0:15:41.800 you've actually touched on something else that I thought I 0:15:41.840 --> 0:15:45.040 would mention about Web two point oh, and that part 0:15:45.080 --> 0:15:47.000 of the whole idea is that you can access the 0:15:47.080 --> 0:15:51.280 web through multiple um means not just sitting at your computer, 0:15:51.360 --> 0:15:54.040 but on say a cell phone or smartphone right or 0:15:54.120 --> 0:15:58.000 tablet device or whatever. Um. That's another important part of 0:15:58.000 --> 0:16:00.520 web two point oh. A good web two point site 0:16:00.560 --> 0:16:06.600 would be accessible through multiple forms of electronic devices, so 0:16:06.680 --> 0:16:11.320 that way a person can consume that product or service 0:16:11.400 --> 0:16:13.880 or whatever however you wanted to find it, um in 0:16:13.920 --> 0:16:17.240 the way that he or she prefers. So you might 0:16:17.320 --> 0:16:20.520 have certain people who for example, Twitter is a great 0:16:20.560 --> 0:16:24.160 example okay. Some people prefer to use Twitter just by 0:16:24.200 --> 0:16:27.920 going to the Twitter website, reading the updates, and occasionally 0:16:27.960 --> 0:16:31.520 updating from there. Some people prefer to download a client 0:16:31.640 --> 0:16:34.680 to their computers so they can keep up with Twitter 0:16:34.760 --> 0:16:38.760 updates throughout the day. Some people prefer to only interact 0:16:39.000 --> 0:16:41.720 with Twitter through some sort of handheld device like a phone, 0:16:42.320 --> 0:16:44.680 where they've either got a Twitter client on there, or 0:16:44.720 --> 0:16:48.760 they're actually using the Twitter Phone API where they can uh, 0:16:48.800 --> 0:16:51.520 I can update through text messages. UM. I don't know 0:16:51.560 --> 0:16:54.200 anyone who does that specifically because it tends to eat 0:16:54.240 --> 0:16:57.040 up your text messages pretty quickly. But I'm sure there 0:16:57.080 --> 0:16:59.400 are people out there who do use that. I have 0:16:59.480 --> 0:17:02.640 done that on occasion, but that's it's a good example there. 0:17:02.720 --> 0:17:05.480 Twitter has really got the right idea as far as 0:17:05.800 --> 0:17:10.679 giving users the most flexibility to to access that service 0:17:10.760 --> 0:17:14.320 as possible, or Twitter kind of is still you know, 0:17:14.840 --> 0:17:18.520 questionable as the whole business model angle. Um. Some of 0:17:18.560 --> 0:17:22.120 these companies have great business models where they are clearly 0:17:22.160 --> 0:17:26.480 making plenty of revenue. UM. There are other companies where 0:17:26.480 --> 0:17:30.880 the business model is either emerging or still kind of murky, 0:17:30.880 --> 0:17:33.320 where we're not really sure if they figured out a 0:17:33.320 --> 0:17:37.639 way to monetize what they do. Uh, that's one of 0:17:37.680 --> 0:17:39.399 the downsides of some of the folks who are on 0:17:39.440 --> 0:17:41.399 the web is that they've got these great ideas of 0:17:41.600 --> 0:17:46.520 ways of providing really compelling services or websites or whatever, 0:17:47.400 --> 0:17:52.080 but they don't have the business expertise to find a 0:17:52.080 --> 0:17:55.280 way of actually leveraging leveraging that to make money beyond 0:17:55.359 --> 0:17:58.439 the initial investment. Sure, so I can get investors to 0:17:58.440 --> 0:18:01.560 pour money into it, but again, when we look back 0:18:01.560 --> 0:18:03.960 at the dot com crash, if you don't find a 0:18:03.960 --> 0:18:07.400 way to generate revenue so that you can repay those investors, 0:18:07.880 --> 0:18:10.959 then it just becomes a borrowing game until people are 0:18:11.040 --> 0:18:14.040 no longer willing to lend you money. And once they've 0:18:14.040 --> 0:18:16.680 figured out that you don't have a viable business model 0:18:16.720 --> 0:18:18.760 and you're not making money, all you're do is spending 0:18:18.800 --> 0:18:22.639 millions of dollars, they're not exactly likely to continue funding. 0:18:22.800 --> 0:18:24.560 It becomes kind of like a pyramid scheme. You have 0:18:24.600 --> 0:18:26.920 to keep asking more people to pay money so you 0:18:26.960 --> 0:18:29.480 can pay back the investors from the previous round as 0:18:29.480 --> 0:18:32.520 well as keep going. Yeah. Yeah, that that gets scary 0:18:32.920 --> 0:18:35.800 really really fast. And in fact, a lot of us 0:18:35.800 --> 0:18:40.320 have felt that Twitter was kind of on that path, because, um, 0:18:40.359 --> 0:18:44.600 everyone recognizes that Twitter provides a very valuable service. But 0:18:44.800 --> 0:18:47.000 until Twitter finds out a way of making money from 0:18:47.040 --> 0:18:49.400 that valuable service, it's a question of how long are 0:18:49.400 --> 0:18:53.080 people willing to pay money in the hope that eventually 0:18:53.119 --> 0:18:55.480 Twitter will get its act together and pay back investments. 0:18:56.000 --> 0:18:58.880 I'm not sure that everybody knows for sure that that's 0:18:59.280 --> 0:19:01.960 very well vluable service. I'm sure that all the people 0:19:02.000 --> 0:19:05.240 who have used Twitter and quit very early on in 0:19:05.280 --> 0:19:07.440 Twitter does have quite a few of them. We call 0:19:07.480 --> 0:19:12.360 them losers users. We don't call them that. I call 0:19:12.440 --> 0:19:16.720 them users. Um, but no, I mean not everyone agrees 0:19:16.760 --> 0:19:18.600 on that. But that's that's one of the things about 0:19:18.640 --> 0:19:21.280 web two point. Now, there are plenty, plenty, plenty of 0:19:21.320 --> 0:19:25.439 sites that offer variations of different things, and there's generally 0:19:25.520 --> 0:19:27.800 a flavor that people will eventually hit on when they go, 0:19:27.800 --> 0:19:29.680 oh wait, I like this one a little better because 0:19:29.680 --> 0:19:34.680 it's got it's it's orange instead of green. Um, So 0:19:35.480 --> 0:19:38.359 there's there's there's always somebody popping up with with a 0:19:38.400 --> 0:19:40.920 new site these days, but the trick is to get 0:19:40.960 --> 0:19:43.359 them to to stay on. And then of course people 0:19:43.400 --> 0:19:47.480 ask about web three point Oh right, Well, I think 0:19:47.520 --> 0:19:49.920 the big winner of web two point oh out of 0:19:50.000 --> 0:19:52.960 everyone is the whole idea of the social network, although 0:19:53.040 --> 0:19:55.840 ultimately you can say that the big winner is really Facebook, 0:19:55.960 --> 0:20:01.399 at least for the United States. Um yeah, almost every 0:20:01.400 --> 0:20:04.439 other social network at this point in the United States 0:20:04.480 --> 0:20:07.560 isn't also ran, even my Space, which was ahead of 0:20:07.600 --> 0:20:09.719 Facebook for a really long time. And then there were 0:20:09.720 --> 0:20:15.439 a Friends too. Yeah, let's yeah, it's barely warranted a mention. Um, 0:20:15.520 --> 0:20:19.600 there's my yearbook dot com. Don't go there, so they 0:20:19.760 --> 0:20:25.159 But no, the this Facebook really definitely one out in 0:20:25.200 --> 0:20:27.440 the long run. But the social networking idea, the whole 0:20:27.480 --> 0:20:30.360 idea of connecting people together so that they can communicate 0:20:30.400 --> 0:20:34.480 and participating games and that kind of thing, that really 0:20:34.520 --> 0:20:40.240 took off, especially after like no, I'd say two thousand four, 0:20:40.320 --> 0:20:43.280 two five, Um, that's when you really start seeing the 0:20:43.359 --> 0:20:46.880 social networks start to ramp up. And then once Facebook 0:20:46.920 --> 0:20:48.639 at the scene and that was what two thou seven 0:20:48.800 --> 0:20:51.919 when they went public with everybody, Uh yeah, then it 0:20:52.000 --> 0:20:56.240 really exploded. So yeah, moving on to web three point 0:20:56.240 --> 0:20:59.800 what could that be? Well, the question is whether or 0:20:59.840 --> 0:21:02.880 not it's even a meaningful term. I I honestly think 0:21:02.920 --> 0:21:06.240 that at this point um. I think to some degree, 0:21:06.240 --> 0:21:09.600 web two point oh is a valid term, especially if 0:21:09.640 --> 0:21:13.160 you keep it in the concept of, uh what Dale 0:21:13.200 --> 0:21:17.120 Doherty was thinking of. You know, these survived because they're viable, 0:21:17.160 --> 0:21:20.280 that they can they can support themselves to that end, 0:21:20.320 --> 0:21:22.159 I'm not sure there's ever really going to be a 0:21:22.200 --> 0:21:25.480 Web three point I mean, we've made so many improvements 0:21:25.600 --> 0:21:29.520 since the dot com bust, but those you know, improvements 0:21:29.520 --> 0:21:32.439 have come gradually one by one. People sort of had 0:21:32.440 --> 0:21:35.359 their head screwed on straight, both venture capitalists and the 0:21:35.680 --> 0:21:39.320 people who create most of the uh, you know, the websites, 0:21:39.359 --> 0:21:42.560 the new style websites with interactivity and and and that 0:21:42.640 --> 0:21:44.840 kind of thing. I'm trying deliberately not trying to call 0:21:44.880 --> 0:21:48.000