It’s Over: I’m Through With Web 2.0
October 9th, 2008
Today was finally the day people in Silicon Valley finally started considering that the housing bubble / credit crunch would affect Silicon Valley, and are finally calling Web 2.0 for what it was: a bubble. While it’s good the valley finally pulled its collective ostrich heads out of the sand, I can’t say I’m very sympathetic, or even surprised. Economists of all stripes have been predicting this mess for years. The Economist wrote about the potential bursting of the housing bubble’s effect on America long ago. Even I was carping about the housing bubble’s effect on tech a year ago and even called a top to the Web 2.0 bubble. If little old me had some inkling, many others certainly should have. And as I’ve written fairly regularly, to think tech would somehow be immune from these financial problems was rather head-scratchingly naive.
And here are some future worries to chew on: my biggest fear is there will be no “V” shaped recovery. Consider this – the credit crunch’s effect hasn’t yet hit consumers or shown up in earnings reports yet or resulted in mass layoffs. All of that will surely happen in the months to come. So while the stock market may hit bottom soon (I’m thinking around DOW 7000 – 8000), disappointing earnings will start hitting week after week to keep the markets there for several months, if not longer.
What else is over? Well, I’m fully expecting certain technology blogs to start changing their coverage to cover failing companies – and distastefully, revel in every gory detail. There was a snarky, assholeish site called F**ked Company that did the deed last time. I think Valleywag and TechCrunch will pick up the slack this time around (TechCrunch has its deadpool). Those pageviews are too juicy to pass up.
I want no part of that joy squeezed from others’ pain. I had my hat handed to me last boom time in the form of a pink slip and refuse to dance on others’ graves. So consider the Web 2.0 coverage on Webomatica over as of today. I haven’t been writing about social media / cloud computing / social networking whatever for a while now and frankly – it will be a relief.
I still plan to blog about tech, but it will be about Mac OS X apps, hardware gadgets, Apple, and that conjunction of entertainment and technology as I continue on my quest for digital video nirvana. But as for Web 2.0 – it was fun while it lasted.