The Web 2.0 Show Must Go On, Right?

On Wednesday, about 1,000 of the tech industry’s elite will begin schmoozing at a three-day conference here on Web 2.0 technologies, in what is now a vastly different business climate than a year ago.

At the onset of the Wall Street meltdown, many in Silicon Valley seemed to have their heads in the sand. But in recent weeks, with lightening speed, venture capitalists are suddenly preaching to their portfolio companies to cut costs, generate revenues and become profitable, fast, or die. So it will be interesting to see if the Web 2.0 Summit, founded by Tim O’Reilly, the president of O’Reilly Media Inc., and John Battelle, chairman of Federated Media Publishing and a co-founder of Wired, will also inject more much needed realism without the incessant hype that is often found at these conferences.

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