Web 2.0 refers to second generation web-based services that let people collaborate and share information online.
A confluence of a number of trends: Participation, Personalization & collaboration, Democratization of market access, Richer online apps
The transition of Web sites from isolated information silos to sources of content and functionality, thus becoming computing platforms serving web applications to end-users .
A social phenomenon embracing an approach to generating and distributing Web content itself, characterized by open communication, decentralization of authority, freedom to share and re-use, and "the market as a conversation“. (See ClueTrain Manifesto)
“ The cluetrain stopped there four times a day for ten years and they never took delivery.” -- Veteran of a firm now free falling out of the Fortune 500
The Cluetrain Manifesto (1999) by Rick Levine, Christopher Locke, Doc Searls, and David Weinberger
"A powerful global conversation has begun. Through the Internet, people are discovering and inventing new ways to share relevant knowledge with blinding speed. As a direct result, markets are getting smarter—and getting smarter faster than most companies."
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“ They took the credit for your second symphony. Rewritten by machine and new technology, and now I understand the problems you can see. Video killed the radio star. Pictures came and broke your heart. And now we meet in an abandoned studio. We hear the playback and it seems so long ago. And you remember how the jingles used to go. In my mind and in my car, we can't rewind we've gone to far. Pictures came and broke your heart, put the blame on VTR.
What Web 2.0 means for real estate? When you were young and your heart was an open book, You used to say live and let live. (You know you did, you know you did, you know you did) But in this ever-changing world in which we live in Makes you give in and cry, Say live and let die! Live and let die, Live and let die, Live and let die. Paul and Linda McCartney