Web 2.0 is the new Dot Com, only a few years later. Things like "Web 2.0", "Ajax", and "RSS" are the new buzzwords, with venture capitalists all over the world investing hundreds of millions (possibly billions) in this new craze reminiscent of the dot com bubble in the late 90s. For those who aren't familiar with these fancy tech terms, Web 2.0 and Ajax are the things that power Google Mail (Gmail), Google Calendar, Google Maps, Yahoo Maps, and any other technology where you can interact with a webpage in real time. Sure, the technology is cool, but I never got the innovation that is supposedly part of "consumer internet" companies. Luckily, there's a (fairly biased investor in consumer internet) venture capitialist from Bessemer who keeps a blog on consumer internet stuff. The blog is called "Who has time for this?" Ironic, isn't it?
Oh, and in the dot com era, all the dot com companies were located in the South Park neighborhood of San Francisco, also known as Multimedia Gulch. It is located about 4 blocks south of Moteiv's South of Market office (we almost signed up for office space in the same building as Wired). The San Francisco Chronicle has this article about the resurgence of companies in Multimedia Gulch due to Web 2.0.