A couple of things. First, here's a simple reason why we aren't going to see Bubble 2.0. U.S. Internet advertising is expected to double to $42 billion over the next four years
. I'm seeing a lot of activity and interest from major agencies and advertisers on RockYou's ad platform on Facebook, completely outside of Facebook's own material initiatives with advertisers. Obviously a complete downturn in the economy can derail everything, but outside of that fairly remote possibility, there's a lot of strength beneath the business models of next-gen online destinations.
Sites like LinkedIn, Kayak and Sidestep are generating $30-$50MM in annual revenues with eCPMs in the triple digits. Wordpress.com has over 80MM unique visitors (check quantcast
) with all of 18 employees, monetizing hundreds of millions of PVs through Federated Media. Not even going to mention RockYou or Slide :) I find references to Bubble 2.0 completely ignorant of the shifts in both internet usage and marketing $. Enough said.