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I read an interesting comment in CNET today that gave me a flashback to the early days of my life as a technology editor back in the throes of the late 1990s dotcom boom. I remember watching the headlines with a balance of incredulity and amusement as people went nuts funding anything that had .com at the end of the company name, regardless of how useful or well thought out the company actually was.

In the comment, a reader named free_people raised the point that the latest and greatest Web 2.0 technologies don't really provide any kind of valuable service and many of them don't even generate sales, and this is the grand focus of Silicon Valley, an area with a lot of indisputably great minds are hard at work to find new ideas on how to make money out of thin air. And meanwhile, engineers in other countries like Japan are hard at work on really important and heavy stuff like hybrid automobiles and alternative energy.

I've been starting to wonder lately about the idea that Web 2.0 could be heading for a bubble of its own. There certainly are a lot of companies popping up everywhere that I wonder if they suddenly went out of business, would anyone even notice or care? I suspect I know the answer to that question.

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