Is Lifestreaming a Catalyst for What's Coming After Web 2.0?

By Mark Krynsky of Lifestream Blog (FriendFeed/Twitter)

There has been lots of rumbling lately about what the successor to web 2.0 will look like. Along with that, even more attention has been spent trying to determine what to name it. My post isn't to discuss semantics (pun intended) but more to provide some of my thoughts based on what I've been observing.

I feel lifestreaming, which I evangelize and cover incessantly, has become a catalyst for much of what's coming next. I feel we will see some of the core elements of lifestreaming penetrate other areas and watch many benefits become realized.

Companies are slowly starting to understand social media. They should also start thinking about how to improve communication internally for a well informed workforce. Creating rich workstreams by aggregating real-time data on an internal network can help achieve this. I see a resurgence of rich intranets like this starting to happen soon.

Data aggregation continues to re-invent itself in other useful ways. I was excited when I first started using Mint.com as I saw it as essentially a vertical lifestream. In this case it was aggregating all my financial accounts to provide a real-time "financestream". But that's not all that Mint.com does. It's a very special service and it actually provides the bridge to two areas where I see the web going next, recommendation engines and moving apps to the cloud.

Many services are getting really good at collecting the data and providing ways for us to interact with it. But that will only take us so far. The next phase will be creating intelligence based on the data. The first step to that will be recommendation engines. Strands provides several services including lifestreaming and has recently put up a prize to help them improve this technology. Mint.com provides recommendations on how to save money based on the data. I'm sure we will continue to see these engines applied to many new areas and perfected as they become mature.

By having more and more of my data living online it becomes increasingly difficult for certain apps to be effectively maintained on my local computer, which brings me back to Mint. I was a heavy duty Quicken user, but now it's become cumbersome having to pull in all my data. Add to that how powerful mobile phones are becoming, the pain involved with trying to sync data across multiple devices we own, and the answer seems clear. Many users will start the migration path of moving their apps to the cloud. Tying back to work again, my primary tool for managing website production is the Clocking IT service. So here I have an app hosted in the cloud accessible anywhere on multiple devices that also offers a real-time stream to co-workers.

What have you been observing? What do you think is going to start taking off?

Read more by Mark Krynsky at Lifestream Blog.

Mint's Latest Additions Make It My One Stop Financial Hub

For years, I've manually edited a custom portfolio in Yahoo! Finance in an attempt to track all my financial details in a single place. That meant copying and pasting trade details from eTrade and checking in with Fidelity every two weeks to get an update from my 401k. But even then, it wouldn't have bank data from Wells Fargo, or credit card debts, so I haven't had a perfect picture on a single page - until now. With the addition of investment tracking capabilities at the end of April, Mint has now morphed from a simple curiosity to becoming my long sought after single point for financial details.

Mint came to my attention last year, like it did for many people, when it won the best presenting company award at the inaugural TechCrunch40 event.

While some have said storing financial login data on a 3rd party site makes them nervous, I've always erred on the side of trusting the Web, and I registered right away. But site slowness, and Mint's initially not offering support for my investment accounts at eTrade and Fidelity meant it wasn't all that useful for me. I wasn't interested in following their little tips on how to save a few bucks here and there by switching my bank or credit cards, so I largely left my account dormant.

But now, Mint shows me everything in one place. After synchronizing my Checking and Savings accounts, my investments and my credit cards, I now get a perfect picture of available funds. And Mint, having more than 200 days history of my activity since I first signed up, also has some educated guesses on where I spend my money most frequently, trends on whether I'm spending more than others in my geographic area, and even records of which vendors.

Now, according to Mint, I can see I've spent $155 on iTunes since October 1st of last year, in 16 different purchases, I've spent $798 at Safeway in 9 tracked purchases, and $332 at Chevron in the same number of visits. Of course, with more than 1/3 of my spending being marked as "No Category", I have some work to do to get the data even better, and there are some amusing bugs, like the one showing I've spent $6,891 at "Louis Shoe Shop", in four transactions. My guess is that's supposed to be where I've made credit card payments, and I have no idea why it's called "Louis Shoe Shop". Are they confusing me with Imelda Marcos?


One month's financial tracking within Mint.
Regardless of those rare oddities, the simple fact that Mint shows me all my activity in one place means that I don't have to go to each of the individual financial sites to get my data. On occasion in the past, I've gotten hit with late fees on my credit card just because I had forgotten to log in before the bills were due. Now, if I can just log in to Mint instead, I can not only see when money comes in, but when money needs to go out. And I'm done messing around with Yahoo! Finance, manually entering owned shares data and estimated per share costs. Now, Mint does all the hard work for me. It's the way Web finance tracking was supposed to be.