What is Web 3.0? The 3rd decade of the web – it’s a period in time; it’s not a specific technology Nova Spivack, founder and CEO of Radar Networks (allbusiness.com) Highly specialized information silos, moderated by a cult of personality, & validated by the community Steve Spaulding (howtosplitanatom.com)
Groupon = Web 3.0 Improved online shopping experience Various deals organized by location Each deal page includes reviews, map, link to company website, link to Twitter & Facebook multiple utilities in one central location Online life intertwined with real life Discounts: the Internet becomes the better choice, not simply the more convenient one The company builds on the networking technique introduced by Web 2.0 with greater “sophistication” and “utility” Online shopping becomes a three-dimensional experience
What’s Next? The Internet will become intertwined with our reality Our virtual lives will not be supplemental to our actual lives, but rather, the two will be dependent on one another Groupon represents Web 3.0 because of its ability to combine and enhance aspects of Web 2.0, and provide a more prevalent, relevant outcome However, Groupon must develop further Right now, small businesses see more profits Competitors (i.e., Living Social, similar sites in other countries )
What’s Missing? Social norms Dependence on Internet is limited People have difficulty spending large sums of $ online, therefore limiting spectrum of deals More comfort in social networking alone Variety of deals Big businesses have lower return rate to the site More nationwide deals (i.e., Gap deal = $11 million in 1 day)
A Global Phenomenon? Groupon serves deals to more than 33 countries world wide. But, it is more specific to USA. There is obviously potential for growth on worldly scale, BUT because of the rapidly changing nature of the Internet, we will never truly know. Something could come along tomorrow that would completely change the dynamicsof Web 3.0 & Groupon success.
Pros & Cons Pros: Encourages/requires interaction with outside world Places greater value on necessity of the Internet Cons: Can we become completely consumed by our online life? Will businesses continue providing deals?