My mate Paul Benjou, has a great piece over on Media Life about social media and how it could end up being a bigger blow out than the dot com implosion eight years ago. He shares my point of view that the very fucking tired mantra “Build the audience now, we’ll worry about making money later,” never made sense in the first place… Remember Pets.com and Webvan? And it still doesn’t make sense now. I like his take on Twitter… In just three years, Twitter had leapt to become the third-most-popular social network, and it too has no business model offering even a hint of return for investors. Twitter founder Jack Dorsey turns to a dictionary definition of the word twitter to define his site: "a short burst of inconsequential information.” Adman George Parker suggests another: "Staccato bursts of bullshit," and for investors at least that may be the more apt definition. Good shit (Well anytime someone quotes me, it has to be!) This is a great article. Get your arse over there and read it now.
That's what I call "social media!"