Web 2.0 is not about having a website that invites people to contribute - it's about applications that get better the more people use them.
Tim O'Reilly and Dale Dougherty coined the phrase in 2003. O'Reilly actually worded the definition as above in an attempt to wrest control over the genie he'd released.
A fantastic way of putting it is, "data is the new Intel inside." There is a competitive advantage in sites where data is accumulating so that we shouldn't doubt their ability to eventually monetise their businesses - e.g. Twitter has a huge potential business as a referrer.
Where does the next digital shift come from? According to Tim O'Reilly, from data inputs from sensors, as opposed to humans. Interesting.
So in the car park you see value deducted from your prepaid card, but when that happens the online database automatically tells your wife where you are and contacts your insurance company when you nick the barrier...oops!
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