I have been asked that question a thousand times. Usually I describe the latest trends towards user generated content, xml mashups, AJAX technology and new design principles. Web 2.0 is not a simple concept, but a combination of several current trends that make up the next generation of web applications.
Sometimes, however, words can’t convey the significance or importance of this change, and its effect on our daily lives. Why are “You” the Time Person of the Year? What does this mean for existing business? Media? Information?
The folks at Digital Ethnography have done a great job of breaking it down into a quick 5 minute video that walks us through it. Enjoy! (Video after the jump)