Thursday, January 11, 2007

Tired of One New Social Networking Site After Another

In my never ending search to report and comment on the latest Web 2.0 sites, I've slowly been developing a sickening malaise from seeing all these general social networking sites popping up.

One Digg clone, Reddit clone,, Newsvine, Myspace clone after another is starting to congest the stream of new Web 2.0 sites coming out.

The Web 2.0 phenom has been in stale territories for a little while now which may not produce another Dot Bomb, but could lead to some sizable sink holes.

Now, I'm no business man-that's not my specialty, but I'm wondering how all these copy cats are getting their capital. I'm assuming venture capitalists are investing in them. It could just be that these investors are in it for the business end and haven't much, or any knowledge on the Web 2.0 scene beyond it's current popularity.

In the long run, this will all balance out. Unsuccessful companies will go away, and a thinning of more diverse and solid ones will remain. What I'm hoping doesn't happen is a slingshot effect where the fad wears off and investors start telling startups to talk to the hand.

I guess you have to take the bad with the good. I like seeing a lot of startups, but I don't like how many of them are just clones.

In the end, nobody knows for sure what will happen. Maybe we will have Dot Bomb 2.0, or the momentum keeps going for another year or two, or maybe the money will dry up from the dwindling pool of startups leaving us with the already established kings.

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