Yet again I was asked today to define the term WEB 2.0 and because my inquisitor was a professional investor with little technical background I felt compelled to come up with a good, crisp and non-technical answer.

The investor in question also passed on a little humor, that has been running around the net, in that she inquired drolly whether she would loose twice as much money investing in WEB 2.0 businesses as she had done by investing in WEB 1.0 businesses.

It came to my mind that this piece of humor is unfair because  a  particular feature  of well constructed WEB 2.0 businesses is that they tend to have low variable costs  (particularly marketing and capex).  The perfect response then hit me as I mused on this point... so I said... " Oh no thats the difference right there! WEB 1.0 was all about BURNING cash whereas real WEB 2.0 businesses are all about EARNING cash!"

So lets all earn it rather than burn it in 2007!

Happy New Year!

I am on my way to Le Web 3. The program sounds not too boring and I am curious to see who else will make it to the capital of baguettes and Gauloises rauche. Alex already sent around a "let´s meet on sunday"-message. The funny thing is that none of us speaks french and we all are hoping getting there in time...Loic somehow was quite relieved that 55% participants are non French.

Let´s meet in Paris :)