... the hot topic is Web 2.0 ... speculation on how the Internet will transform from an information resource to a user-centric platform for wide-ranging new services and products centered around the needs of users.
For example, Web 2.0 is all about applications that run on the network ... (think Flickr's photo collecting, tagging, and distribution service), user-created content (think the Wikipedia encyclopedia), and products that are written and improved by users and developers rather than software companies (think the open source movement versus Microsoft).
(HBS Working Knowledge, 21 Nov 2005, article.)
O'Reilly's Web 2.0 Manifesto.
Microsoft is somewhat acknowledging that, and launching their on-demand platform for software development and delivery. I don't recall the product name, but there's a recent article in Business Week.
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