The 'Third Wave Open Source' refers to a new era in the open source movement where the focus shifts towards integrating open source software more deeply into enterprise environments. This new wave emphasizes collaboration between companies and open source communities, leading to more robust and commercially viable projects. Key points include the growth of open source software as a service (SaaS), increased corporate contributions to open source projects, and the aim of a sustainable ecosystem that includes funding models to support developers. This trend highlights the importance of balancing open collaboration with the need for profitability in the tech industry, as well as addressing security and compliance concerns that enterprises often have with open source solutions. Opportunities lie in fostering community-driven development alongside corporate backing, a crucial aspect for future innovations and market competitiveness.