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A common perception is that there are two competing visions for the future evolution of the Web: the Semantic Web and Web 2.0. A closer look, though, reveals that the core technologies and concerns of these two approaches are complementary and that each field can and must draw from the other's strengths. We believe that future web applications will retain the Web 2.0 focus on community and usability, while drawing on Semantic Web infrastructure to facilitate mashup-like information sharing. However, there are several open issues that must be addressed before such applications can become commonplace. In this paper, we outline a semantic weblogs scenario that illustrates the potential for combining Web 2.0 and Semantic Web technologies, while highlighting the unresolved issues that impede its realization. Nevertheless, we believe that the scenario can be realized in the short-term. We point to recent progress made in resolving each of the issues as well as future research directions for each of the communities.