Were Digg and Web 2.0 Over-hyped?

If you haven’t read my story on Digg and the momentary decline of Web 2.0 companies then you should. It’s gotten a lot of pick-up and play today, with links from CNET’s Caroline McCarthy, Valleyag’s Owen Thomas, TechMeme, HipMojo.com, Venture Chronicles and other places.

Click here to read the story, which reveals Digg’s financials for the first time and also has solid sourcing for its valuation during its most recent round of venture financing.

I don’t think my story is the definitive statement on Web 2.0. It’s just an interesting snapshot in time. A few years from now, the Web 2.0 generation of companies may very well have ended up fulfilling their promise. But for now, those hopes look unfulfilled and a bit over-hyped.

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