End of Web 2.0 bubble?

Deloitte says social networks have to focus on monetization more than growth in 2009.  They can’t just focus on growing their subscriber base but have to figure out ways to make money beyond advertising because of a business environment where everyone is slashing their budgets.  This is harder for social media because Deloitte says it takes 100 users to generate the same as one user for traditional media.

Where have I heard this before?  That’s right in the first bubble back in 1999-2000!

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Tags: Deloitte, Linkedin, social media, social networking