Web 2.0 - 24 months in

After about 24 months of web 2.0 this is what wikipedia makes of it all:

Web 2.0, a phrase coined by O'Reilly Media in 2004,[1] refers to a perceived or proposed second generation of Internet-based services—such as social networking sites, wikis, communication tools, and folksonomies—that emphasize online collaboration and sharing among users. O'Reilly Media, in collaboration with MediaLive International, used the phrase as a title for a series of conferences, and since 2004 some members of certain technical and marketing communities have adopted and loosely adapted the phrase.
While interested parties continue to debate the definition of a Web 2.0 application, a Web 2.0 web-site may exhibit some basic characteristics. These might include:

* "Network as platform" — delivering (and allowing users to use) applications entirely through a browser. See also Web operating system.
* Users owning the data on the site and exercising control over that data.
* An architecture of participation and democracy that encourages users to add value to the application as they use it.
* A rich, interactive, user-friendly interface based on Ajax or similar frameworks.
* Some social-networking aspects.

The concept of Web-as-participation-platform captures many of these characteristics. Bart Decrem, founder and former CEO of Flock calls Web 2.0 the "participatory Web"[citation needed], and regards Web-as-information-source as Web 1.0.

Full article:
http://en.wikipedia.org/wiki/Web_2