Web 2.0 Overhyped in ad world

I was listening to BOL - Buzz Out Loud - and their hosts, Tom and Molly, have a great point.

Every ad exec is obsessed with UGC, being in the social network space - regardless if it works or is a smart strategy for the brand. It's a craze.

And what does that sniff like? Bubble 2.0. It won't be as bad as the dot com bubble - there isn't as much money tied into it - but any company that is just getting into the space, to get into it, and don't think about if it fits in their model is going to get burned.

Check out this article by John C. Dvorak - a little pessimistic for me, and I don't agree with him about the mobile space, but he has really good points. And of course, CD never died, and Web 2.0 isn't going to die - but throwing money out the window at "Yet another Web 2.0 site" which I seem to see everywhere is going to cost people money.

The ones who are successful will be the ones who, instead of creating social networking to create it, do it as it makes sense with their brand or leverage existing networks where people already are. Podcasting that is useful and purposeful and quality - we don't need another facebook, and lord knows a corporate facebook isn't going to work. We need great ideas, and large companies can do that and be part of it - but throwing aroung "UGC" and a sea of other acronyms like so many execs (who, by the way, don't use the internet or have very little clue of what actually is going on) is a dangerous trend for the long-term.

Check out this hilarious video about getting venture capital in the web space...

http://www.5min.com/Video/How-to-raise-money-from-VCs-4661