As the understanding of the web matures, new unique perspectives of the web are going drive innovation. In the beginning having the web was the driving force of innovation (The Bubble was a side effect), and by all measures that type of innovation is still going on today. Now after more than a decade of the web we are seeing innovation based on using the web in an unique and innovative ways.
Companies like SalesForce.com (CRM, business applications), Google (mail, chat, calendar, marketing and search) are delivering services via the web that were previous costly and difficult to manage. Companies like 37signals (Basecamp for Project management) and Zimbra are simplifying and bringing together information and applications in meaningful ways. More and more simple shifts in thinking about how the web can be used or generally how the network can be used are having profound effects on technology and the community of companies and people on and off the network.