Web 2.0: VC or Lifestyle Businesses?

Clarence Wooten (via Brian Oberkirch):

So what makes the creation of Web 2.0 businesses different from the Web 1.0 startups that preceded them? I believe, three things separate the two:

1) open source, 2) blogging, and 3) social networks.

Technorati tags: vc, investing, funding, bootstrapping, web2.0