Google's Eric Schmidt Defines Web 3.0

Google's CEO, Eric Schmidt, was recently asked how he would define Web 3.0 and what Web 3.0 means to Google.

I am paraphrasing below so watch the video as well.

Web 2.0 is a different way of building applications using Ajax as the underlying technology.

Web 3.0 are applications that are pieced together which are relatively small, the data is in the cloud, apps can run on any device (PC or mobile), apps are very fast, very customizable, apps distributed virally by social networks and email, not store bought.

It's a very different application model from the mainframe era and PC industry, likely to be very very large, low barrier to entry, new generation of tools being introduced by Google and others make it relatively easy to do, solves a lot of problems, and works everywhere.