October 2007 Archives
Bear in mind that the software is currently in beta mode which means that there is very little software documentation available for it. Yose Widjaja from the University of New South Wales is the software's author.
There's no question that networks are an incredible asset and they have been for decades. That's half the value of an MBA program most people would say. The question is whether anything is different in the online space now that it has gotten far easier to manage one's networks and to mine a network by leveraging the different degrees of separation.
They're certainly an asset but I don't think the networks can be shared by an enterprise without the active participation of the individual. I can give you my phone book. But unless I personally introduce or connect you with all the people in the phone book, no one will take your calls. This means that networks are primarily an individual asset and will always be. Rather than trying to mine an individual's network, companies should focus on helping employees build their own personal networks. As long as those employees are with the company, the company will benefit too.
Social Media is frightening. I'm expected to participate and have an opinion on practically everything I touch. Whether its in the workplace or at home, everybody wants me to collaborate and contribute. Words, images, voice - everything and anything needs to be put in the public domain. I must upload my photographs to flickr for friends to see, my facebook status must reflect my activities, my wiki profile needs to reflect current professional interests and if I am not twittering then I'm not cool. You get the idea? Social Media has a dangerous side. Not only are we forced to reveal more than we may want to, but we're also pressured to do so just to be a part of the conversation.
What's the solution? I don't know. But as I navigate the social media landscape, I'll be constantly asking why participate, what value does the participation bring and does every conversation need to be joined? We have private lives for a reason, because we like to keep some things private. Does that need to change?
With the deal, Microsoft will be the exclusive third-party advertising partner for the social networking site. The ads will expand beyond the US to Facebook's international presence as well. No Microsoft technologies will be integrated into the Facebook platform. That's good. Facebook is winning, why try to fix something that isn't broken. What's left to be seen is actual ROI on the advertising on Facebook. The word on the street is that people click less on ads when they are on social networks because the content within the network is so much more attractive.
I wonder whether Facebook decided to go with Microsoft because they did not want anything to do with Google's own social networking plans. Those call for a more open ecosystem of social networks driven by OpenID and other similar technologies.
The problem? Firstly, they should try to come up with something original. A spoof simply reinforces the stereotype of lawyers lacking imagination. Secondly, next time use real lawyers not actors. Actors make it look fake. If you can find lawyers to do the testimonials, I'm sure a few of them can do the acting as well. And finally, please post to You Tube. I'm not sure whether to trust the view count of your inbuilt flash built in video player. Doesn't seem very authentic to me.
"It's not that easy to monetize social media," says Eric Hippeau, a managing partner of Softbank Capital that made more than 20 times its investment in GeoCities. He also sits on Yahoo's board. "Once Microsoft's deal with Facebook expires, as does Google's deal with MySpace, they're going to have to sell advertising for themselves and it's going to be a challenge." So far, he says, "it's not that easy to match the right advertising with the right audience."
Yes, its certainly not that easy to monetize social media. And the reason is simple, the media simply isn't yours. Anyone who gets too greedy when housing someone else's media should beware. They make take it with them elsewhere. I'll be watching Facebook to see how it handles my media.