Content generation (as in blogging; uploading various kinds of files) and consumption thereof is the single most important idea WEB 2.0 is based on. Then there are many social networking sites around, friendster, myspace, meetup, orkut, yaari , hi5 , ryze , linkedIn to name a few. Few web 2.0 companies are coming in this space. Then there was sixDegrees.com that last from 1997 to 2001.
More or less all these networking sites can be said to based on the concept of six degrees of separation , according to this anyone on earth can be connected to any other person on the planet through a chain of acquaintances with no more than five intermediaries. And almost all of these sites offer same features, scrapbook, testimonials, photo gallery, and blogs. All of these come for free. Then ad remains only way of getting revenues. Then like no of eyeballs for TV programs, no of unique user define the sponsorship. But with so many sites around on the web wide world, which is not limited by physical boundaries, what could be ones usp?
As identified by The Guardian, It's an emerging rule of thumb that suggests that if you get a group of 100 people online then one will create content, 10 will "interact" with it (commenting or offering improvements) and the other 89 will just view it. They go on to say with respect to youtube, again a content generation and consumption site for sharing videos,
The numbers are revealing: each day there are 100 million downloads and 65,000 uploads - which as Antony Mayfield (at http://open.typepad.com/open) points out, is 1,538 downloads per upload - and 20m unique users per month.
That puts the "creator to consumer" ratio at just 0.5%, but it's early days yet; not everyone has discovered YouTube (and it does make downloading much easier than uploading, because any web page can host a YouTube link).
Apart from networking sites and video sharing sites , there are other web 2.0 companies based on the idea of content generation and consumption like photo sharing site flicker , bookmark sharing site del.icio.us , blogs feed sharing site bloglines , and the online encyclopedia wikipedia .
So sharing is the future of web. But with that marketing and revenue generation for these companies would be redefined. How? We have to wait and watch.
Updated: Few India specific social networking sites (minglebox , humSubka) are coming up.More about web2.0.