Look out – the Web 2.0 Bubble is about to burst!

When Hollywood starts making films about business you know something is about to go horribly wrong.

Out soon (at good cinemas everywhere) is the Facebook story – “you don’t get 500 million friends without making a few enemies” – goes one of the tag lines – no doubt in a very deep voice.

I get nervous when film, TV and media generally start over-reporting or dramatising current business stories. Normally over reporting is accompanied by a false sense of security, or hope, or in some cases anxiety, in the public at large.  It typically happens in financial markets. As we all know (but seem to forget all too readily) market crashes in shares or in property are normally pre-empted with a clamour from the media to explain how best to make a safe, fast, buck. And then it all goes horribly wrong at a pace that ensures you can’t reverse your position until it is too late.

So what of Facebook and this Web 2.0 thing, is it about to fall from a similar precipice to those the over inflated financial markets fell from. I wonder.

The BBC News ran a news story the other night about Starbucks on Facebook and why they are there. News? Starbucks have been on it for ages – they have 14 million new latte drinking best friends for goodness sake. It seems to me we have reached a dangerous point in the Web 2.0 world when the BBC News starts talking about social marketing.

News? Main stream news? Starbucks use Facebook – so should your business – Web 2.0 is brill – oh dear it’s like the nonsense that went before the dot com market crash of 2000 all over again. Just keep that Jonah, Robert Peston away from the story – he broke the banks, remember?

I do, however, sense that things are getting a bit overblown – too much hype and too much coverage. So will the Web 2.0 bubble burst?

Could we really find ourselves trying to unwind our social media positions as we see the follies of documenting every skinny, tall, latte and the geographical location of our mobile devices.

The level of information that we present to an increasingly open internet audience grows by the minute – and surely that must be wrong. Do you really want everyone and anyone to know what you are up to now and what you were up to 5 years prior?

Facebook has shifted privacy rules regularly in its hunger to offer the public what it wants and to squeeze out the new kids on the block. Location information being the latest add in. But are we so addicted that this trend will continue? As a Stirling web design and web development business we have seen a remarkable adoption of the Web 2.0 world in business – it offers some fascinating new ways to engage with the market, to engage with people. Some of the tricks are also pretty useful in intranets for business… nice.

Undoubtedly, though, the release of the Facebook film is an interesting point in the history of the Web 2.0 world and that of Facebook – but are we reaching the high water mark of the Social Media web world? I sense we are.

But in true Web 2.0 style – let’s chat more about this on Twitter, Facebook, Four Square, Tumblr etc etc etc. 

LoL! (Thats laugh out loud – if this is being read by a News hungry BBC Social Media Correspondent.)


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