Web 2.0 and Silicon Valley

Business Week features Digg.com’s Kevin Rose on the cover and writes:

Who are some of the new geek elite? Besides Rose, there’s his pal and Wall Street transplant Joshua Schachter, who recently sold Del.icio.us, a Web site to exchange favorite links, to Yahoo for an estimated $31 million; gaming whiz kid Dennis Fong, a.k.a. Thresh, co-founder of gaming company Xfire, which sold to Viacom Inc . in April for $102 million; Mark Zuckerberg, who started the social networking site Facebook in college; and Jeremy Stoppelman and Russel Simmons, co-founders of Yelp.com, a consumer review site. The elder statesmen of the group are Hot or Not founder James Hong and his best friend, Max Levchin, who sold his company PayPal to eBay Inc. for $1.5 billion at 26 and is now engrossed in Slide.com, a startup that delivers images to computers in a slick slide show format.

Digg is emblematic of the ethos of Web 2.0, new consumer and media sites revolving around social networking and do-it-yourself services.

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