The “Socialism” of Social Media

This relatively short article is packed with interesting ideas .. some explicitly mentioned, some not so much.

My View On ‘The New Socialism’

These three points particularly jumped out at me.

A – Online social media is growing at an extraordinary rate, already representing an extraordinary share of the total time that many consumers spend on media.

B – There are no better examples of the changing business and pricing models than newspaper classifieds and Craigslist.

1. The former has made all participants — sellers, advertisers, subscribers — pay dearly, while pocketing outsized profit margins.
2. The latter only requires a tiny fraction of the participants to pay relatively little, and still pockets outsize profit margins.

Of course, the $100 million that Craigslist might generate this year is only a fraction of the billions of dollars that it displaced.

Isn’t this combination of #1 and #2 a huge (socialist?) redistribution of wealth?!

C – Online media exposures are growing at an extraordinary rate, maybe even exponentially. The future is not about delivering “cheaper, faster” impressions. It is about delivering results — helping people find things, helping people buy things, helping people sell things.

I am not sure that is quite right, but it definitely is an interesting perspective!

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