To explain what web 3.0 is, let s take a step back and look what web 2.0 is. Web 2.0 was all about creating online communities. We all know the big names: Digg, MySpace, Facebook etc. These pioneers have built successful businesses on allowing people to interact online and allowing online communities to develop. As more and more companies set up similar platforms, the real value shifted from having the best platform to having the best or largest community. All was good - everybody was making money: Site owners (Myspace, etc.) , Online ad companies (Google, Yahoo, etc), Advertisers (e.g. Amazon). However one person was left in the cold, probably the most important one: the user. He is the one creating the community, he is the one creating the content that is the basis for this wealth. Web 3.0 is all about shifting this focus and let these online communities take control of their own faith and sharing the wealth between their members. And be sure, online communities are worth a lot of money. Just to give a few recent examples.
- Google bought the video sharing platform Youtube for $1.65 billion
- MySpace made a deal for $900 million with Google to show adverts on its site

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