Dot Com Boom - the sequel

It's coming for sure, the 2nd dot com boom is on our door step thanks to the promise of Web 2.0. But what is different this time? There are a few things that I think will be different:

1. Investors will be more wary which is a good thing because it will help to weed out the weaker ideas and give legs to the stronger ideas.
2. The internet has grown up, and so have the users. This means that there will be more actual value and less promised value
3. Ideas won't cut it anymore. This time around investors won't put money into internet ideas. VC companies won't consider business plans without an actual company and product already in the market.

The lesson here is, if you want to be the next internet billionaire, you will need to build your idea, carve out your market, and be profitable long before the time comes for cashing out! Better get cracking because you are already behind.