bubblegen :

2007 was a non-event. Nothing much happened in the mediascape, and next-gen media plays were lame, lamer, and lamest.
Despite the hype, just think for a moment about the numbers. Facebook achieved a huge valuation – but created very little value. Google pioneered almost no new revenue streams. Yahoo went from ailing to terminally ill. And mass media, of course, continued it’s long spiral into deeper and deeper strategy decay.