Tim O’Reilly’s keynote at this week’s Web 2.0 Expo in Berlin brought a firm focus back to reality. At recent conferences, the mood has been dampened by current economic conditions. Funding for web start-ups is vanishing rapidly for businesses without sustainable business plans. However, responding to critics suggesting that the Web 2.0 bubble was bursting. O’Reilly asked the rhetorical question, "Do you really think that we’re done yet with exploiting this huge change [of disruptive technologies]?"
O’Reilly suggested that the ‘web winners’ in the years ahead are those businesses that are involved in:
- Cloud computing
- Software as a Service applications like Google Apps
- Open Source software
- Companies delivering value added services to consumers or businesses
- Breakthroughs in collective intelligence (harnessing the crowd)
- Entrepreneurs who innovate and concentrate on delivering value
Using the example of the PC industry in the early 1990’s. O’Reilly cited the early years when there were hundreds of PC manufactures. However, through a ‘natural consolidation’ process, the number today is greatly reduced. He then made the conclusion that the current economic problems accelerate the consolidation process – The business with robust business models will survive. Those that do not will die.
O’Reilly advocated the use of building business that deliver value, concluding with the strategy:
"Work on stuff that matters"
Citing the example of the Berlin Airlift and the innovative efforts required to achieve it, he stressed that his point that:
"Great challenge = Great opportunity"
O’Reilly finished the keynote, urging the masses to use Web 2.0 innovations to address today’s important problems. The world doesn’t need another another “Me too” application. However, web applications that deliver “real value” are the ones to lead the industry out of the doldrums.
Keynote Video and presentation slides follow below
Hat Tip http://media.vascellari.com