Former PayPal CEO Peter Thiel discusses the prospects for Web 2.0 investors

[mandy]

Former PayPal chief discusses the prospects for investors in the current Web 2.0 boom.

Q The Web 2.0 craze has been on for a while. Will it be over soon?

A I don't think it's going to be over soon because the usage metrics are still tracking in a very steep northeasterly direction. You'll see things get ahead of themselves, valuations and so on, but there's a shift going on from traditional Hollywood media to a tech-centric media industry. Surveys are showing, people under 28 are spending more time on the Internet than watching television. It's a really big-scale thing.

Q What's different from Web 1.0?

A Those companies that are successful are incredibly successful, and a lot of the other companies have no value at all. That's the thing that is so dizzying about Web 2.0.

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