Jump ahead to 17:50, where he briefly speaks on his vision for the web in the coming years. For O'Reilly, augmented reality is the natural next step from web 2.0, while semantic web is a dead-end. Here are some (not-precise) excerpts:
RFID is an evolutionary dead-end ... semantic web or RFID is things "wearing name-tags", and web 2.0 is learning to recognize things ... We're getting to that kind of augmented reality, where our computers will have senses that are as good as ours or better ... they are going to recognize faces, they are going to recognize objects, they gonna have immediate recall. If you ask me "what's the UI in five years", it's a pair of glasses ... I'm gonna have some kind of little heads up display because I'm gonna look at something, I'm gonna walk around at a meeting and it will go "that's Joe, you met him three years ago".