Is Kleiner The Fat Lady on Web 2.0?

It’s seems far too early to call this, but there has been some momentum building in this direction. The latest is Tom Foremski’s post saying that Kleiner Perkins has halted investments in Web 2.0. This would mean a lot more to me if I knew exactly what Web 2.0 was – I’ve been reading about it for years now, have co-organized two conferences on it, and I still don’t know. And when I say that, I’m being a lot less glib than you might suppose. In any event, I suppose the real point is that I don’t know exactly what Kleiner means when they refer to Web 2.0. But it doesn’t matter. Suffice it to say that for too long there has been too much of too little on the Web. It’s beginning to feel right for a bit of a shakeout. What happens next, I have no idea, except that many who depend on Web 2.0 for their livelihood will call Kleiner and its ilk bad names. And so it goes.