Web 2.0 fails to produce cash

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Many members of the Web 2.0 generation of internet companies have so far produced little in the way of revenue, despite bringing about some significant changes in online behaviour, according to some of the entrepreneurs and financiers behind the movement.

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[mjt]

Or does this read like a "TV is just a fad - it'll never really catch on" piece.

Yes of course there will be closures and consolidation - it's what happens after ANY expansion and growth.

I'm not a huge fan of social media - ratemyfacebooksoace.tv or whatever - but then I'm not part of a generation that has always had it.