trendpreneur

This morning, Dion Hinchcliffe spoke about Web 2.0 and its place in the online world, a presentation which (despite its overly-long jam-packed-with-slides delivery) had plenty of useful things to say. Here are a few of the key messages.

Firstly, what does ‘Web 2.0′ mean? A Web 2.0 application takes advantage of network effects — i.e. the more that other people have or use a service, the more value it has. Social network effects increase this value due to their immense potential for rapid growth and large reach. The small percentage of sites that manage to hit critical mass and use network effects experience astronomical growth, but others trying to compete in the space have a lot of trouble fighting established network effects.
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