Web 2.0: Stupid is as Stupid Does
We continue to see many companies, Fortune 1000 to startups alike, embracing “Web 2.0″ technologies. These span technologies that include social networking, user generated content, and creative forms of crowd sourcing as a form of publishing. Recently we’ve seen companies which are part of the infrastructure of the United States begin to offer “Web 2.0″ technologies presumably as a way to service customers. These companies include Waste Management, Chevron, and Proctor & Gamble to name a few.
What’s scares me is that these companies that embody America’s infrastructure are embracing technologies which have yet to prove that they can deliver any intrinsic value. As an example, Facebook has been “valued” at $15 billion dollars based on an investment made by Microsoft that has no fundamental qualifications. Outside of a few misguided acquisitions, i’ve yet to see a “Web 2.0″ company that created value.
If you have any doubts, name one “Web 2.0″ which created shareholder value based on free cash flow, excluding any acquisitions.
Any answers?  …didn’t think so. 
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