Reminds me of a blog post from a friend..:p
Wikipedia has a nice long article on it.
A few points I took home..
- All the Web2.0 applications are content driven. The technology allows people to share and access the content easily. It’s just the means.
- Lower hardware costs are major driving forces for the Web2.0 'boom'.
- Mashups (linking multiple available services to create newer, more useful, services) go a long way..
- Look at alternate sources of revenue..
- Finally..All you need is a simple idea.... The technologies and support is there. If you do it right, your start-up can also be bought by Google at $2m+++ ;)