• Marketwatch, Friday, April 6, 2007 11:30 AM

Bambi Francisco of Marketwatch talks to Roger McNamee, the venture capitalist who famously called Google a "Web 1.0" firm at a Web 2.0 trade show about a month ago. McNamee is part of Elevation Partners, a VC firm that has invested heavily in Web startups, including $100 million for a 50 percent stake in real estate site Move.com; its principals include U2 lead singer Bono.

The firm has also invested in $200 million for a 40 percent stake in Forbes, the 90-year-old publisher of the popular financial news magazine. However, McNamee says the real play in the Forbes investment is the company's online future. In financial news on the Web, Forbes ranks in the top 10, according to Nielsen/NetRatings, although with 5 million unique visitors it's behind Yahoo Finance, MSN Money, AOL Money, CNNMoney, Dow Jones Online and Reuters.

Web 1.0 is still very disruptive to the media hierarchy; its time has not yet passed. He calls YouTube "Web 1.5," and adds that Web 2.0 will disrupt both YouTube and everything that came before it. In other words, Web 2.0 hasn't started disrupting yet. "Everything that matters will come on my person," he said of the future, Apple's iPhone marks the beginning. "That's the thing that disrupts the PC market."

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