Web 2.0

In short Web 2.0 is a theoretical combination of technology based services, and practices that result in a more collaborative and effective network of information.

Software companies are starting to drop the idea that software is a product and are focusing primarily as software as a service (i.e Google and Google search). Software development firms, are retraining staff and redesigning products to be accessible from within anywhere in the world through the web. No longer are techno geeks and corporations the only ones who are able to have a say in the content that gets placed on the web. Thanks to blogging individuals can promote their ideas, and discuss current events or pretty much anything they want to.
The idea that software is no longer shipped but maintained is a big aspect of the Web 2.0 idealism. Previously there were no such things as updates to software, once you purchased that particular version of software you were stuck with it until the next release cycle, or you were forced to rely on hacks to make it work.
Web 2.0 is the driving force behind RICH internet applications, for example Google maps, and gmail.
No longer are applications only available on the computer they are installed on. The web being the new primary form of application delivery, fully functional and sometimes better than traditional forms; has led to the development of an entire sub industry with its own related technologies and methods such as AJAX, JQuery, and Boostrap. (See Rich User Experiences for more info.)

Web 2.0 content is not broadcasted, it is networked. If you find something you like on a website like Amazon then you can share it with your friends/family/etc, through social networking sites like Facebook, Twitter or Pin interest. No longer is content read only, but its participatory. Find an article you don't agree with on the Huffington Post ? Feel free to comment on it and state your views. The whole web 2.0 concept is to promote a more unified and diversified internet, one that is not controlled by technological constraints but one that exceeds them.

I enjoyed most of the articles, but being somewhat of a technology enthusiast I already knew a lot of the information that they contained.
Thats pretty much all I've got for this reading. I'm tired, sleepy and hungry.