1st Generation Web - Static websites where information provides created a portal by which information seekers can get information. Far from real time, the websites are simply a means of communicating static information and contact information. For example, a static website where using HTML, data is displayed to the user.
2nd Generation Web - Dynamic content where information is generated by users and placed on the web by users. Information is as fresh depending on the user's motivation to keep it up to date but a huge amount of information now is added onto the web. For example, someone can quickly create a blog or video channel to post their activities or latest business information.
3rd Generation Web (This is where we are now) - Networking between users to generate information and to relate information. Not only is the information fresh but relational information is captured as part of the information. This makes every other aspect that uses this information far more powerful since a great degree of context can be built around this information. For example, pictures posted by someone are now tied to the location of that person and possibly even the real time location depending on whether the picture was uploaded through the person's phone.
4th Gen - ????