Web Bubble Part Deux?
November 29, 2007
Paul R. La Monica wrote a very good article at CNN Money entitled, Web Bubble 2.0 for Social Networks, in which he interviews Jim Nail, Chief Strategy and Marketing Officer at Cymfony. Mr. Nail says something very interesting, namely “Marketers have finally given up the illusion that TV is the magic solution to everything. The problem is marketers want to look for the next magic solution and social media is not it.” (Italics mine.)
I agree with Mr. Nail wholeheartedly. A growing number of social networks are chasing a finite source of ad dollars. In addition, the fickle nature of web users leads to increasingly shorter life span’s for social networks which in the end cannot justify the ridiculous valuations being put on the likes of Facebook. Fifteen Billion? If that cannot be defined as a bubble, I don’t know what can.
