Category Social Media

Pay to Play

When social media became mainstream, it was because it was based around a simple tenet — that it was about establishing trusted relationships between people. People’s personal networks were based around friends, people you knew and their friends. Trust between peers was the bridge that powered sharing. For years, Facebook grew on the basis that influence was based on the strength of one’s closest relationships.

Fast forward to the present day where there are a billion users on Facebook and growing. Facebook is a public company with quarterly pressure to drive revenues.

Facebook recently made news for testing a new feature that lets anyone direct message another user for $1. While they’re only testing this feature, pay for access goes against the whole point of social media. Under that plan, people willing (or desperate enough) to pay to contact someone else not in their network are able to. While it defeats the purpose of social networks it also creates a whole slew of negative scenarios such as creepy old men contacting underage girls, verbal abusers, brands spamming consumers, etc. This can’t be a good thing.

For quite some time, Facebook has made controversial decisions that seem to go against the grain of what it stands for. At some point, the drive for additional revenue will clash with the fundamental premise of the social network.

Social Score

It used to be that the only score you needed to really worry about post-college was your credit score. Today, with social media becoming such a large part of everyday life, is there an equivalent for your online life? Amy Jo Martin suggests how a social score — the level of credibility and influence in social media — is just as if not more important than credit.

Breaking Good

Some of the biggest news events break first on Twitter, but how do we separate legitimate news from rumors? It’s not always easy to separate the signal from the noise. This online panel helps break down citizen journalism in the context of Hurricane Sandy and how social media spread both news and rumors. I’m highly curious to see how it helps and hurts the spread the truth.

Social Media Tests New Chinese Leadership

While the rise of social media has taken the world by storm, one place that has seen growing pains is China. The youth has taken to Sina Weibo quickly, with now over 400M users add counting. The new Chinese government faces a delicate balancing act, having to temper wholesale censorship with the ability to speak freely and the ever constant drive to grow a market-driven economy. As I’ve mentioned before, social media is like a bar of wet soap. The harder you squeeze, the less control you have.

 

The Cool Factor of Crowdfunding

For decades, entrepreneurs had to subject themselves to venture capitalists to get their businesses off the ground. Not only would they have to reveal their entire business to them, they would have to give up 20, 30, even 50% of their company’s equity in exchange for money. Recently, a variety of startups such as Kickstarter and Quirky have come along that helps entrepreneurs skip the traditional VC model and go directly to the masses. By connecting entrepreneurs directly to consumers, these platforms helped companies like Pebble and Ouya raise over $8M to develop and launch their products. On paper, it sounds like a win-win situation: startups get great exposure and marketing and consumers get an early piece of the action.