Human memory and processing power are extended through the storage and interconnection of the web. The "time" in web may not be able to calculated, web year is simply a shortened form of physical years. For example, It took 38 years for telephone technology to reach the threshold of 50 million users, while television needed 13 years, for Facebook its just 2 years.
The Web become the new “Digital Land” for quick fortunes and unlimited business growth in the late 1990s, Greed and excessive enthusiasm drove economy in 2001 to a noisy burst of the 5 trillion dollars dot-com bubble. In mid-00s the Web enabled mass participation and reborn from the ashes of the dot-com bubble. After this hard lesson, the new business models were updated (Example: advertising revenue). At this moment, the Web economy is bigger and more robust with new services ranging from search, Ecommerce to social networking.
The enormous impact, scale and dynamism of the Web in time and space exceed our abilities to observe and measure its evolution process.
In 2010, Google processed 24 petabytes of data per day that have been created from more than 2 billions Users worldwide. Web Users have access to some trillion Web pages, spending 700 million minutes per month in Facebook, ordering in Amazon, 73 items per second and sending 1.3 exabytes from mobile Web devices.
The major value source of the Web is the ability to link resources. In Web 1.0 the dominant resource is documents, in Web 2.0 is Users and their contribution, and in Web 3.0 is structured data.
Web 1.0 - the positive network effect arises from the demand side,
Web 2.0 - the major source of value stems from the update of online content (i.e. the supply side),
Web 3.0 - extends current Web applications using Semantic Web technologies and graph-based, open data. A potential joint exploitation of all linking spaces in the Web will create enormous social and commercial value. In Web 3.0, the knowledge is processed and extended to machines, the links are created at the level of entities, There would be a exponential growth for the web 3.0.