The panel was comprised of an illustrious group of venture capital investors, including McNamee, founder of Elevation Partners, a venture capital company that late last summer invested more than $200 million for a 40% stake in magazine Forbes.
When a renowned investor suggests that Google – one of Silicon Valley’s home runs and the biggest hit on the Internet - is passé because it’s not Web 2.0, it sort of perks your ears up.
Web 2.0 is basically the catchphrase term that describes interactivity and collaboration as the audience is also author.
McNamee’s remark about Google was in the context of Web 2.0 investment opportunities, and how other companies appear to be doing a better job evolving or innovating as the Web allows for more engagement and collaboration between the audience and author.
On Wednesday morning, following the panel, I spoke with McNamee to clarify his viewpoints.
“Web 1.0 seems so derogatory. Are you suggesting that Google is not innovating fast enough?” I asked.
“Google is the zenith of Web 1.0, and it’s important to understand that Web 1.0 isn’t going away,” said McNamee. “Interactivity doesn’t replace it [Web 1.0], it complements it… Google is incredibly well positioned.”
That said, McNamee added: “Nothing is forever. Microsoft’s (MSFT) Windows is not forever. Google is not forever.” Read my Net Sense column on Thursday for more predictions.