Web 2.0

I stumbled upon these sentences about Web 2.0 (What’s Web 2.0?).

In general, Web 2.0 refers to second generation web-based communities and hasted services (social networking, wiki, etc).

please describe web 2.0 to me in 2 sentences or less.
you make all the content. they keep all the revenue.

I find this pretty true.

source : blogiseverything.com