An interesting piece this week appears on The Atlantic implying that the growth of social networks have all the hallmarks of being a gold rush, reminiscent of the dot-com bubble.
In the article titled 'The Web 2.0 Bubble', Michael Hirshorn writes that:
In the Web hype-o-sphere, things matter hugely until, very suddenly, they don’t matter at all. Thanks to the unprecedented growth of MySpace and Facebook, “social media” matters hugely right now, but it is likely only another in a long string of putatively disruptive, massively hyped technologies that prove just one more step in the long march.
He's right in pointing out that social media has been around since the early days of the commercial web with sites like Geocities proving popular in building niche communities of like-minded users.
Suddenly, everyone 'needs' a social network to support their brand online. But do they really and how many of these will fall flat within months? Time will tell.
There are already social network floozies with more links and 'friends' than seems feasible. The article names the dubiously dubbed 'Tila Tequila' as the most popular with 1.5 million friends on MySpace
So, back in the business world, should we skip social networks and wait for the next bus to come along?Never have to wait long in Web 2.0 for the next fad.
I say no. Business social networks give most of us, not all of us, the chance to make the communities that already exist around our brands more efficient. They are perhaps unlikely to create community where none existed before. Human networks exist in lots of unusual places. Even accountants like to network, improbable as it sounds. So online social networks just allow this to happen quicker.
But as Michael Hirshorn concludes, there are soon to be so many of these social networks, that fatigue will set in fast. People will either be forced to make choices about where they invest time in uploading profiles to either the most generic or the most niche, depending on your purpose. So there will be opportunities for entrepreneurs to link the networks together to be searchable (already some sites are starting to do this, like Wink, Minggl or Social Grapes).
Surely, it's just a little early to be writing off social networks while they're still in their infancy? Perhaps the mainstream generic sites will start to peak, but the niche sites are just getting started. People are still figuring out where these tools fit into the mix.
IBM and Cisco are smart operators. They certainly wouldn't be investing millions in developing business grade social networking applications. Would they?
Robin Crumby.
Recent Comments