At the end of that post McClure makes what i think is a great analogy to what is happening:
"We're not in the middle of Bubble 2.0 -- rather, we're in the middle of Renaissance 2.0. Northern California is Italy. Palo Alto is Florence. San Francisco is Venice. Sequoia Capital (or Peter Thiel & Reid Hoffman) are the Medicis. Ev, Biz, Ben, Mena, Matt & Toni are the Gutenbergs. And Mark Zuckerburg is Da Vinci. Bene, molto bene :)"
The image i managed to butcher as part of this post is of Lorenzo de' Medici, one of the great patrons of Renaissance Artists. The Renaissance was about great art, creativity and cultural and ideological development (i admit it is my favorite period and i can go sit at a good collection for hours and reflect on what it must have been like to be there), it was however not a period of great social or economic change. Does what is happening- qualify for a period of social and economic change? Can we point to the consumer as producer and owner of content as a potential change in the economics of content (text, music,video etc) creation and distribution? Do services like Facebook create economies of users that could drive social agendas? I think they might.