Ok it seems Web 2.0 is getting a lot of bad press recently.

While Daniel initiates a discussion on the financing bubble at Web 2.0:

"Then there is N, who opines: "Have you figured out the revenue model of all of these Web 2.0 consumer businesses? Customer acquisition at any cost (i.e., not charging for your product) seems awfully familiar. Oh yeah ... we did that back in 2000. I was at the Early Stage Venture conference last week and confirmed that, for good reason, the VC community generally won't fund consumer businesses that don't have a critical mass of customers. How then does an early-stage Web 2.0 company get funding? Easy: Bootstrap the offshore development of a great product and then give it away for free. Get customers ... get funding. Are we structurally rewarding unsustainable business models?" Ummm... yes. By the way, Colette wrote on our Frappr map that the PE Week Wire is the People Magazine of private equity. Is that a good thing? Been trying to figure it out all morning...."

another Web 2.0 startup with a 'not completely rolled out revenue model' does a round A.

Digg has attracted 2.8 million from Greylock Partners and Omidyar Network. Digg first looks like a deli.cio.us copy with comments but it has a cool usability and could be real blogger catch like Technorati. It was a great source of traffic for the Creative Weblogging Network recently so I'm biased :)