Also see my earlier post concerning Web 2.0
UPDATE - 10 June 2006:
Just about everywhere that you turn these days, you bump into some sort of article or weblog post about Web 2.0. It seems to have generated an unstoppable momentum, a sort of Web 2.0 runaway train.
Most of the commentaries are about technical and from the architectural perspective, but here's one of the relatively few about the venture capital side of things: A VC's view of Web 2.0
But one article that I'm really in tune with is by Alex Payne, The True Folly of Web 2.0 and here are a few quotes from it:
"Web 2.0 can’t see beyond itself. ... We’re failing our potential. ... We should be moving forward. We should be innovating. It’s no accident that people view the Web 2.0 sphere with the same economic, technological, and moral trepidation that they did the Dot Com era."