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History is written by the winners. Technology is developed by the losers. To make light speed, cut the mass at the point of acceleration. In English, dump the excess features: See XML.
AJAX/Web 2.0 is the XML enablement the not-web markup people knew would happen. We never stopped using markup, data islands, DHTML or any of the other app languages such as VML that are laying around for the taking in the form of dlls. We're still building VRML97 worlds out here too. Faster machines, bigger pipes, and practice in the woodshed is the way to reinvent old technology and old acts. The touring season comes every spring.
If you want to be a prophet in computer science, it's easy (although the cycle time varies): pick any application which fails the first time but has a loyal following and wait ten years. At eight years, give it a new name if the old one has suffered too much reputation-damage and push it as the Next New Thing. Be sure you have real customers for it before you do that. Pay some pundits or bloggers for press, start a few fights on lists, have a conference. This is the same game played in entertainment and it works. BuzzBuilding. Note, it doesn't always require high quality product but if you want to sustain the buzz and make more dollars, it does. See American Idol (besides Kelly Clarkson who was a well developed act before she auditioned, who is still standing?)
O'Reilly is very far out on the limb with the Web 2.0 meme. Luckily, like Rupert Murdoch, having a publishing empire means one gets to write a history and make one's own reality real. But a good historian and any practical engineer sees through that and just builds code that runs and meets the requirements of a customer leaving the mythmaking and the heroism to those who merchandise such.
Every year there is a new American Idol but the same old Simon, Randy and what's her name of cheerleader dance fame.
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