Economic crisis for some could mean technology evolution for others
Creating your own website is a lot of work, and if done right the result becomes a network of people sharing ideas on your website. But what if we took our creation one-step further and made this Web 2.0 website into a moneymaker? According to a recent article published in Newsweek, this idea may be harder than it seems.
In an article written by Daniel Lyons entitled, “Down in the Valley,” Wall-Street and Main Street are not the only ones feeling the brunt of the economic crisis, Web 2.0 companies are crashing as well.
Specifically the community-based websites we use so often; Twitter, Facebook, Linked In, and Digg, to name a few, while popular, are still not reaping as much profit as they could be, and with little success in online advertisements these tiny start-ups could crash for good.
Facebook reported millions of dollars in their earning report this year, but little in profit. Twitter launched in 2006 and reported earlier this year $15 million in venture, but again profit was almost non-existent and Twitter’s CEO said they are “waiting” to see what happens next year.
After reading this article, it became apparent that no one is free of the economic crisis (besides corporate fat cats and millionaires) even the untouchable Web 2.0 sites we all love to use and share with our friends, could experience major change or end up disappearing all together.
On the flip-side this could be the start of a technology evolution. Like the dotcom crash in 2001, which wiped out the tiny players, only to replace them with the Web 2.0 companies, perhaps some companies will fade, but bigger more advanced companies will emerge and I can’t wait to see what happens next.
3 years ago