Parsons - Web 2.0 bubble at bursting point
Michael Parson at the Times warns of the end of the Web 2.0 bubble:
Social networking is one of the building blocks of the Web 2.0 dream: bringing together like-minded people online to create a community of interest that can share knowledge, information and resources and make useful contacts. However, we must not forget its older, fleshly incarnation – the real networking event. During the height of the dotcom boom you had to fight off invitations to internet networking events. Societies like First Tuesday, The Chemistry, and Land of the New Giants brought together badly dressed people with business cards to exchange lies about their website's readership and drink a lot of nasty white wine. After the crash, decadent gatherings like this became much less popular. Yet this week I've received invitations to several, which perhaps means it's time to start selling tech stocks again. It's a market top.
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