We live in the Web 2.0 Generation. Fortunately or not, I am a part of it. Don't know what Web 2.0 is?
Web 2.0 is the network as platform, spanning all connected devices; Web 2.0 applications are those that make the most of the intrinsic advantages of that platform: delivering software as a continually-updated service that gets better the more people use it, consuming and remixing data from multiple sources, including individual users, while providing their own data and services in a form that allows remixing by others, creating network effects through an "architecture of participation," and going beyond the page metaphor of Web 1.0 to deliver rich user experiences.
Don't get it? Here it is - in all simplicity...
You make all the content. They keep all the revenue.
Still not clear? Okay, then - I will provide some examples. These are some Web 2.0 companies.
That should give you an idea what Web 2.0 is all about