Fifty years since the beginning of the Internet, and three decades of the Dexter Hypertext Reference Model and the World Wide Web mark an opportune time to take stock and consider how hypermedia has developed, and in which direction it might be headed. The modern Web has on one hand turned into a place where very few, very large companies control all major platforms with some highly unfortunately consequences. On the other hand, it has also led to the creation of a highly flexible and nigh ubiquitous set of technologies and practices, which can be used as the basis for future hypermedia research with the rise of computational notebooks as a prime example of a new kind of collaborative and highly malleable applications.