When I read the reports from Boomtown’s Kara Swisher, I had a personal sinking feeling. Now, Boomtown’s the latest memo from the CEO of AOL allowed me to just put my finger on why I’m sad by this. It’s the final ‘nail in the coffin’ of Web 1.0.
Yahoo and AOL’s storied successes are crashing down around all of us in front of our eyes. I’m deeply saddened. I know many of these people in both companies. What’s worse is the addition of thousands of newly laid off employees – the rank and file. More importantly is that the hemmorging of these companies will make their best employees (the stars) leave. They most likely will become entrepreneurs to fuel the real opportunity – Web and Infrastructure 2.0.
I’ve been writing the impact on venture capital and now we’ll see more people looking for jobs. We need the best talent to start companies to house these employees. Or better yet Yahoo and AOL need to cannibalize their own businesses in order to invent their new businesses. Either way 2.0 is here.
Good Bye Web 1.0 and Hello 2.0.