This is what I wrote about the "Web 2.0 bubble" on October 22, 2005

"...there are now thousands of little lightweight web services out there created by people who aren't in the business of building businesses. They are programmers experimenting in their free time. Maybe they're trying to promote their services. Maybe they just needed to solve a problem that only they had, without much concern as to whether or not anyone esle had it. These apps serve a lot of different purposes for a lot of different people, but that doesn't make them all businesses. Bubbles happen when we don't see the difference and we start funding (and overfunding) the projects."

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