Hey, Don’t I Know You From the First Bubble?

The San Francisco Chronicle ran an article today on developments at the Web 2.0 Summit.

The reporters found, not surprisingly, that some of the same people involved in the last Internet bubble were making comebacks in lockstep with Web 2.0. Here’s an excerpt:

Many of the same characters who populated the original dot-com boom are also in evidence at Web 2.0, some in prominent roles.

John Battelle, the program chair, engaged in some playful give-and-take with Morgan Stanley Internet analyst Mary Meeker before her presentation, recalling how he and Meeker had run "Internet Summit" conferences from 1998 to 2001, when Battelle ran the Industry Standard magazine and Meeker was "queen of the Net."

Tony Perkins, who wrote a book, "The Internet Bubble," in 1999, moderated a panel. Andreessen, the wunderkind behind the Netscape browser, flogged his new startup, Ning. Kim Polese, who adorned business magazine covers in what’s now called Web 1.0, promoted her new company, SpikeSource, which packages a Web 2.0 software suite for businesses.

There’s nothing wrong with the same suspects making another run at success. As the saying goes, once an entrepreneur, always an entrepreneur. Besides, many of these folks claim to have learned invaluable lessons from what they experienced during the last boom-and-bust cycle.

Let’s hope investors have learned their lessons, too.

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