Corporate Stupidity Or What?
You should check Gwyn's writing about future of the metaverse and Intergrid. It deals mostly with the current state of and what big companies wish and plan with our little toy:
Instead of an “unified metaverse”, they’re using the name ambiguously as a more fancy synonym of “virtual world”. The industry players wish to address a different target — games for teens — and are reluctant in accepting an “unified” environment. Each company wishes to have their own virtual universe and aggressively compete with the others.
Server Code And The Community
Few days ago Ari Blacktorne stated usual SL™ problems and asked for a replacement, for a new virtual world:
It already is public knowledge that the server and viewer code is such a spaghetti mess that to 'fix' it, they'd have to start over practically from scratch - and that won't happen.

I think there is a group that works on the new grid's architecture, but that is not why I am writing this. Something else kicked this train of thought. Read more…
Is The Second Life™ The Next Web?
No, it isn't. I know that so many residents feels so hyped with it to declare the Second Life™ the next big thing and the next step that will replace the web as we know it. I can agree that virtual environments are possibly the next big thing. There is a lot to be discovered about them. There is a lot for us to learn, lot of things to do. Second life does change our feel of the Internet and communication. But it is not going to become a replacement.

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