Over the last few weeks I have noticed more and more talk that this Web 2.0 thing is really a bubble and about to burst. For me it started with MySpace being picked up for US$580 million by News Corp and just getting hotter and hotter with the biggest indicator we are going to pop Google buying YouTube for US$1.6 billion! VC’s have lots and lots of money and seem to be throwing it at everything with Web 2.0 startups raising $US455.5 million in 79 deals so far this year, more than twice last year.
For me it is a bubble, period.
- We learned our lesson last time.
- This is not a bubble.
- It’s all about community and sharing.
- Online advertising will pay for everything.
- These sites are so easy, my mother could use them.
- The analysts are trustworthy now.
- There’s no glut of social networks — young people are always up for trying something new.
- Our site is still in Beta.
- We’re different from all those other sites.
- We look forward to working with our new partners at Google.
I ponder what will happen to the likes of Jobster, Recruiting.com, Indeed, SimplyHired, recruit.net, mkt10.com, in2Vista etc post-burst. Will they be impacted, will they be profitable beforehand, should I get my cash together to buy so great assets at really, really low prices?
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