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Web 2.0 has to do with business, not technology
My recollection of the meaning of Web 2.0 when I first heard the term (at least 3 years ago) was that it was used by dotcom startups with genuinely viable business plans to distinguish themselves from the earlier generation of pre-bubble dotcom failures. It had little or nothing to do with the technology that they used to create their web sites -- new technical approaches like AJAX weren't a strong factor at that time. It had to do with a new realism about how to make money out of the Web.