The government is thinking about establishing a friendly environment for local companies to develop the burgeoning Web 2.0 business, hoping to expand the nation's service industry with the information-technology enabled service.
"Business opportunities brought by the Internet are substantially underestimated in Taiwan, which is the major reason why the nation lags behind the rest of the world in exploiting the Web 2.0 industry," Ke Jyh-sheng (柯志昇), president and CEO of the government-funded Institute for Information Industry, said yesterday.
Ke made the remark at a press briefing to introduce a Web 2.0 international conference -- "The Web 2.0 phenomenon in the Intelligent Times" -- which is being co-organized by the institute and scheduled to take place next Tuesday and Wednesday in Taipei.
Speakers at the conference include Yahoo product manager and co-founder and CEO of Flickr, Stewart Butterfield, founder and CEO of Bubbleshare Albert Lai, CEO of Tech Crunch, Michael Arrington, and other industry heavyweights.
Web 2.0, a phrase coined by O'Reilly Media in 2004, refers to the second-generation of Internet-based services that allow users to post and share information online.
Unlike traditional media that operate using business-to-consumer models, Web 2.0 was built by consumer-to-consumer model through which users are content providers instead of receivers, said Wang Ling-hsiang (王稜翔), chief technology officer of Internet portal PC Home Online (網路家庭).
One example of a successful business created on the Web. 2.0 concept is Flickr, an online photo management and sharing application site that was acquired by Yahoo Inc last year, Ke said.
The industry is emerging in Taiwan as well with Wretch (
It is reported that Yahoo is planning to acquire Wretch for NT$700 million (US$21.28 million), but neither company has confirmed the deal.
Analyzing why Taiwan has not been in the forefront of banking on Web. 2.0, Shine Chen (陳函薇), an Internet industry veteran, said the dot-com crash five years ago still haunted many prospective Internet entrepreneurs.
HEAVY INVESTMENT: Moody’s affirmed the firm’s ‘Aa3’ rating with a ‘stable’ outlook due to its leading position in the industry and ability to match customer requirements Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue this year is expected to increase about 21 percent to NT$1.29 trillion (US$44.01 billion) from NT$1.07 trillion last year, driven by strong demand for advanced 5-nanometer and 7-nanometer chips mainly used in smartphones and high-performance computing devices, a Moody’s Investors Service report on Wednesday said. TSMC’s rate of revenue growth next year is to increase to 7.5 percent, the ratings agency said. The company, which supplies 5-nanometer chips for Apple Inc’s new iPad series, has introduced the advanced chips ahead of its competitors and gained a significant share of the market for the foundry industry’s
Shin Kong Financial Holding Co (新光金控) yesterday said that its insurance unit would adjust its investment portfolio after being banned from buying new stocks a day earlier by the Financial Supervisory Commission (FSC). “We will research what we can do based on the commission’s specific instructions after we receive the regulator’s formal documents,” Shin Kong Financial spokesman Sunny Hsu (徐順鋆) told the Taipei Times by telephone. The commission on Tuesday fined Shin Kong Life Insurance Co (新光人壽) NT$27.6 million (US$941,722) for reckless investment, and demanded that the insurer reduce its overseas investment ratio from 43 percent to 39 percent. The fine would affect
Taipei Times: When do you think the hospitality industry can return to how it was before the COVID-19 pandemic? How does Formosa International Hotels Group (FIH, 晶華酒店集團) fare this quarter and beyond? FIH chairman Steve Pan (潘思亮): The virus outbreak will have a serious impact on business travel, driven mainly by meetings, incentive travel, conferences and exhibitions over the past three decades. For the past six months, many businesspeople have grown used to exchanging information on the Internet, where more people can participate. The trend might sustain for three to five years until people are vaccinated and it is safe to
NO VIRUS BLUES: A SEMI Taiwan official said that the virus does not slow down the global semiconductor industry’s investment in manufacturing equipment The production value of the nation’s semiconductor industry is expected to grow 16.7 percent this year from last year, outpacing the global industry’s 3.3 percent growth, industry association SEMI said yesterday. That would help Taiwan safeguard its second spot in the global semiconductor market with a production value of more than NT$3 trillion (US$102.73 billion), SEMI Taiwan president Terry Tsao (曹世綸) told a media briefing in Taipei for the Semicon Taiwan trade show beginning today. The global semiconductor industry’s production value is expected to increase to US$426 billion this year, SEMI said. In terms of semiconductor equipment investment, equipment billings from Taiwanese firms