The document discusses key concepts of Web 2.0 including user interactivity, sharing of information, and use on social networking sites and blogs. It describes characteristics like rich user experience, user participation, dynamic content, and web standards. Common applications that use Web 2.0 concepts are discussed like AJAX, Adobe Flash, and languages used by developers like PHP and Python. Taxonomy and its use for categorizing content on Web 2.0 sites is also covered.