What is Different About Web 2.0

This is what Jay Adelson, CEO of Digg, told a conference (as quoted by Financial Times):

While the companies are benefiting from what they see as a revolution in advertiser behaviour, they are also supported by the fact that the costs of the new companies are lower than they were in the first internet boom. Compared with a decade ago, the cost of computing power has fallen dramatically. “To start a business 10 years ago, something that is so dependent on telecommunications would have certainly been an expensive proposition,” says Adelson. “One in 100 ideas could get funded. Today it costs almost nothing.”