The web really does seem to be about people flocking to X, then to Y, creating unsustainable bubbles. It must make for a great study when it comes to fads creation, growth and decline.
There have been huge advancements in a short amount of time, but we're probably getting to a point where returns start to diminish. A main problem for the web as a whole is how much time people can actually spend online, and how much information they can process.
I mean, I look at this from another perspective, that being photography. Back when I was a child, my parents took what I thought to be a decent number of pictures. Enough to remember significant events and trips etc. You could probably go through them all in a couple of hours though, including the explanations.
Today, with digital cameras, we have thousands upon thousands of pictures. I almost never take the time to look at them. They're simply too many, even though I don't take all that many, and I go through them to save only the ones that have a value. To seem them all would probably take days, and then you have the videos as well.
We will be hitting a similar wall with the web, even though there's still time that it can steal from our TV time, newspaper reading time etc.
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Perhaps as cloud computing and various services creep in
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Maybe. Personally, I'm a bit skeptical about cloud computing changing anything fundamentally. I feel it's been around us in a way or another all along.