In the battle for capital right now, the brands and intangibles and user bases and networks are winning by a landslide against the things that used to be important. And the companies that are rich in those old fashioned things, like Walmart, Disney and McDonalds, are spending all of their time and attention to transform themselves into the spitting... See more
web1 -> web 2.0 -> web3 is about progressively giving more power+ownership to the community.
web1: centralized content + ownership (Zagat, Encarta, Yahoo directories, etc)
web2: UGC (Yelp, Flickr,..) but centrally owned+governed.
web3: community has both ownership+governance.