SCD IST 110H

With all the advances in technology, there are things holding technology back? In article written by David Meyer on ZDNet, the top ten things that are holding technology back are explored. So, here they are:

1. Microsoft's stranglehold on the desktop
2. Operator lock-in
3. Input methods
4. Battery life
5. The mania for speed
6. Intellectual property law
7. Skills inequalities
8. Web 2.0
9. National interests
10. The current lack of global wars and/or disasters

I was surprised that Web 2.0 made the list. In IST 110H, we have sung the praises of Web 2.0 and the benefits of social networking, the blogosphere, YouTube, and Second Life. Here is what Meyer has to say:

Do we really need applications like Twitter? What price a poke on Facebook? Microsoft's recent purchase of a chunk of Facebook valued the social-networking company at $15bn (£7.2bn). This is a company that does not yet have a proven business plan, despite having big aspirations as a marketing hub. Two years ago, eBay bought Skype for $2.6bn and Skype — a mostly free service — is currently struggling to justify that price.

It's nice to see the vanguard cashing in. But they're not really worth their valuations or the mountains of cash they have received from venture capitalists, whose money could probably find better use in other areas of technological innovation.

With the global economy in its current, credit-crunched state, Web 2.0 runs the risk of not only taking funding away from worthier areas of research but also contributing to a downturn that may hit the tech industry particularly hard. It remains a crucial element of the way we interact through technology, but its business models need a lot of work.

The lack of the business model reminds me of that Second Life IBM commercial. How do you make money?