Social Media Blog: November 27, 2010
The New York Times: Business Day. Wyatt, E. & Vega, T. (11/27/10). Stage set for showdown on online privacy. p. B1, B6.
Two reporters, Wyatt and Vega, give various views on pros and cons of online privacy discussions. Two federal agencies, the Federal Trade commission and the Commerce Department, are preparing reports. In addition, Congressional as well as White House Obama administrators are considering national and international repercussions. Consumer groups are advocating for more privacy in the form of “do not track” which is similar to “do not call” for phones while marketers are eagerly tracking any information for their purposes. This article lays out the points of each group, which have their own agendas and the question of more regulation from the governmental factions who may be at odds or not with each other and not even communicating with the policy that seems to have been in place of letting online companies police themselves. There will surely be more on all of these perspectives immanently. Consumer protection, business interests, security issues, illegal activities, and moral issues are at stake in these issues and all need to be considered.
The New York Times: Business: Small Business. Dahl, D. (11/18.10). A business creator sees big returns from social media. p. B10.
Dahl interviewed Eric Lefkofsky, a 40-year old entrepreneur from Chicago, who has started several Internet businesses, StarBelly, InnerWorkings, Echo Global Logistics, MediaBank, and most recently Groupon. His estimated wealth is $750 million according to Dahl’s research in Forbes and he has invested personal funds of $100 million along with a partner, Keywell, in an investment fund, Lightbank, which focuses on social media capabilities, which technology companies develop in the early stages. Encouraging social experience seems to be the principal ingredient in the example given of Groupon in which a business offers a coupon that the customer tales advantage of and passes it on to their friends thereby creating a social network. Groupon then takes a percentage of the coupon offer. In the interview, Lefkofsky only sees the social aspects growing in the next ten or so years in travel, job opportunities, and as he says any business that wants additional customers. There is access through FaceBook and Twitter to new contacts to promote, to service, and to hear back from customers. Lefkofsky suggests that any business that wants a management tool help with connections and targeting their customers to try one of his new investments, SproutSocial, to learn more about the social advantages of the web and to monitor their brand. It seems to me that one has to become more familiar with the new language as well as the ways to connect to your target group beyond friends.
New York Times: Business. Helft, M. (11/16/10). Facebook offers new messaging system. p. B1, B5.
Facebook’s chief executive, Mark Zukerberg, 26, has announced a new service called Facebook Messages which he views as a natural for those who in their teens were used to instant chats and texting as opposed to e-mail users who it infers are of another generation and have used Yahoo, Google, AOL, and MSN for their communication system. Helft reports that this is a “bold move” (p. B1) even for the widest used Web site that would allow their already 500 million American customers to more readily sort personal messages into a “social-in-box” (p. B5) from others on mobile phones or any Web devices. This new system attempts to have one place for messages whether they are chats, emails, or texts. A draw back that is pointed out is the privacy issue and how much private information one wants to share for example with clients, doctors, or service connections. The article ends with the statement by Mr. Zuckerberg that it has taken 15 months and 15 engineers to get to this launch of Messages on Facebook.
New York Times International: Kershner, I. (11-16-10). A blogger’s irreverence infuriates West Bank Muslims.
The 20-year old son of a barber shop owner in the West Bank town of Qalqilya has apparently been bolgging blasphemous comments on Facebook under the Internet name of God Almighty and more. The Palestinian youth is a computer science graduate who has angered his community and raised questions of cultural issues and Internet usage. The Palestinian Authorities are investigating the case.
New York Times: Business Day: Miller, C. C. (11-12-10). Following Twitter, Right to its office. (p.B1, B6).
Start-ups want to be in the building or in close proximity to Twitter headquarters in the SoMa (South of Market) area of San Francisco’s Silicon Valley. Mark Muro, a Brookings Institute researcher on clusters of innovators and business is referenced as a source for the efficacy of being near others in ones field. The physical closeness may foster interaction among creators as well as investors. This reporter states that Twitter now has 300 employees and occupies 62,000 sq. feet of office space, which it will outgrow in several months. The real estate prices are naturally going up and are up to $32 from $29 dollars a square foot.
New York Times: Business. Kopytoff, V. (11-3-10). Facebook’s initial crew is moving on, Ready for another start-up. p. B1, B5.
Although Facebook is only six years old and has not yet gone public, according to Kopytoff, many of the original employees are moving on to start their own Internet companies. It is a good read to see what and to also not the ages in the mid twenties of those mentioned. Also of note is that the shares of stock are very liquid and some have cashed in to move on.
New York Times: Sunday Business. Miller, C. C. (10-31-10). Why Twitter’s C.E.O. demoted himself. p. B1, B4.
One of the co-founders of Twitter, Evan Williams, 38-years old, surprised all by handing the chief executive position to Dick Costelo who was the chief executive officer and noted for his business savy and detail oriented. Mr. Evans wanted to do what he is best at, product strategy, i.e. redesigning the Web site and planning ahead for Twitter’s future, according to Miller who interviewed him. Twitter’s early history is recounted as a “side project” of a podcasting service called Odeo, which Mr. Williams was a co-founder (p. B4). Williams, Dorsey, and Biz Stone came up with Twitter as a one way following and posting that was public but one could not be followed back. By 2008 there were apparent problems among the founders which are alluded to in the article although all are still on board and may have had something to do with it’s rapid growth from 71.3 million registered users to 5 million in 2009. Miller reports that now Twitter has matured form it’s informal beginnings and is now referred to by the founders as “an information network, not a social tool, and see it as an essential way for people to communicate and get information in real time” (p. B4). This lengthy article goes into Mr.Williams personal history in Nebraska as not fitting in and dropping out of college as he was creative, had his own ideas, and didn’t fit in. More information on his personal difficulties with colleagues and lack of business acumen led through the creation of Blogger, which was sold to Google. All of this history leads to the three goals, which Williams stated for Twitter as, “to change the world, to build a business and to have fun” (p. B4).
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