The biggest threat to the online economy is user generated content.

Why?

1) Our metrics for understanding user generated content are either in their infancy or were never birthed.

2) UGC cannot be controlled or manipulated with top down marketing strategies to which we are accustomed. Brand damage is a very real possibility and that should scare the hell out of everyone involved in the online world.

3) What I say about, or how I use, a program means much more to my circle of friends and those influenced by me than what you say about, or how you intend for me to use, your program.

4) User generated content gives people other incentives to speak out about your company, product, site or service. Those incentives range from ego to venting to evangelism. You can’t control them or outweigh those incentives with cash. Democracy and free market capitalism in the context of a brand heavy economy mix like blood and water.

5) If anything causes the web2.0 bubble to pop, it will be realization by users generating content that the platforms they know and love and use are enforcing industrial age economic metrics upon a very new and unchartered economic paradigm. In other words, the “web2.0 bubble” will not pop because of old school top down economic upheavels or realizations, but because of user revolt against being monetized, marketed to and used.  It’s not the air pressure that causes bubblewrap to pop, it’s the user pressing down when they realize that they are in control.