Venture capitalist Ed Sim laments the Web 2.0 hype wave:
I am starting to get extremely tired and frustrated about every pitch that I see now where a company claims they are a Web 2.0 company and lists their principal reasons for being Web 2.0. It reminds me of the mid-90s when everyone said they were an Internet company and sprinkled their pitch with wild growth expectations from Jupiter Communications.
This is what happens when the entrepreneurial and venture markets, after five years of spinning their wheels and revving their engines, see the market turning up once again. The innovations everyone is excited about are real, and the business opportunities are real, but that’s not the same thing as saying WE’RE ALL GOING TO GET RICH.