Web 2.0 101 - Daily Readings from the Bubble 1.0

On the weekend was idly eyeing the library of "classics" from Web 1.0 - "100 Best Internet Stocks to own" of 2000 is especially entertaining.....and while thinking back on last weeks' talk on Wobble 2.0 and flipping through a few of the books, something clicked.

Look at:

- Skype - $ 2.x billion + for (at the time) about $60m revenues tops and (allegedly) an uncomfortable rate
- YouTube - $1.6 billion for not a lot of revenue, a big burn and a posse of aggrieved content owners on its trail.

So, it seemed that, as part of the Conversation, it was time from a Daily Reading from the Old Testimony, a Word of Blog if you like

So, Lesson One, from the Book of Netscape:

"At the close of day 1, Netscape's stock stood at $58 1/4, a value of $2.2bn. Not bad for a company effectively selling a free product that Microsoft was known to be building a competitor to, and hoping to monetise itself with a still unproven business model......

Now ask yourself - who made money here?

Here endeth the first lesson, over the next days we plan to grab more quotes from the Tomes of Old for your delight.