I have been reading a lot of articles like the one below from the Atlantic. The bloom seems to be off the social media rose. (related article here). I read one article that predicted Twitter would be this generations CB Radio…ouch. On the other hand it is a lot more fun and gets a lot more attention when writers trash current trends. For example New York Times columnist Tom Friedman – who is supposed to be a really smart guy – said in 1999 that Amazon was doomed to failure. Two conclusions one can take from that; Tom is not really that smart and pundits predictions of failure need to be approached with caution.
The broader question is whether, after the smoke clears, this tech movement will leave us a legacy we can build on. The software bubble left us with software. The dot-com bubble left us with companies like Amazon that transformed commerce. If Groupon goes up in smoke, what will it leave behind?…cute e-mail