I’ll hop in and take my shot at defining Web 2.0 like Diane Ensey did on the Do Real Time Blog today.
Web 2.0 is a bunch of web based software features masquerading as companies trying to carve out a niche as the world abandons installed software and moves to completely on-demand world that reflects the real world business of today.
Expanded version would include the following: Web 2.0 is the outgrowth of the failed dot com era where hundreds of billions were spent on trying to create companies and business models while ignoring certain realities. These realities have been confronted today so most Web 2.0 companies must prove themselves by bootstrapping and proving their worth before receiving large sums of institutional money. Like most businesses, Web 2.0 companies want to make it big and get the brass ring but they don’t know how since many shun the "Enterprise" and believe that if they build it…the enterprise will come. Those that have bridged the gap into the enterprise have opted to customize and focus in a vertical to gain traction and get big revenue dollars..exactly the opposite of what Web 2.0 purism is all about.