Kleiner: Web 2.0 is so over, dude

by Mathew on November 5, 2007 · 6 comments

So a partner at Kleiner Perkins, one of the premier Silicon Valley investment firms, has apparently told Tom Foremski of Silicon Valley Watcher that they have “no interest in funding Web 2.0 companies any more.” For Web 2.0 devotees, this is a little like King Arthur telling you he’s really not that hot on the whole Grail thing any more, and you can stop looking now.

I wasn’t really aware of Kleiner Perkins doing all that much investing in Web 2.0 companies, actually. I always thought of them as playing in the big leagues — the Googles, the Ciscos, etc. But whatever. I guess the party is over now, right? Kleiner has taken away the punch bowl. All those startup CEOs hoping to get rich quick can go back to working at Kinko’s or whatever they were doing before Web 2.0 came along.

As far as I’m concerned, if KP’s comment means less money flowing into questionable startups with no business plan and a stupid name that’s missing a bunch of vowels, I’m all for that. I’m going to side with Tim O’Reilly, who posted a comment on Tom’s blog saying:

“If a company needs to identify itself as a “Web 2.0″ company rather than describing the problem they are solving, or the opportunity they are creating, then they are just playing the buzzword game, and aren’t worth investing in.”

If that’s what the Kleiner Perkins guy meant when he told Tom that they’re not interested in financing Web 2.0 companies any more, then I think he’s into something.

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