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Social Media; a Bubble about to Burst?

From an article Too Much Buzz from the economist.

Two billion people are already online. E-commerce sales are $8 trillion a year. So, the argument goes, this more “social” element to the internet is the next great revolution. Over-caffeinated cyber-champions talk of “empowerment” and “transparency”. But is all this as wonderful as it sounds? Or is it a new bubble in the making?

via Schumpeter: Too much buzz | The Economist.

A good analysis that looks at both extreme ends of the social media debate. On one end it is a fundamental societal revolution that will alter our very existence. On the other it is an ever so trendy waste of time that will pop into nothingness.

Of course, as is usually the case, the truth is somewhere in between. I am in awe of Facebook. 800 million users. On the other hand, as the article points out, using social media effectively is neither easy nor inexpensive.

For now I believe dentists need to be aware of Facebook and the other social media platforms. If you are nerdish, setting up an office Facebook or twitter account is not a bad idea. Or you can pay someone to do it for you. However I do not believe it is urgent or if you do not use Facebook immediately you will be left out or miss out on amazing new profits.

I would not be surprised if social media as we know it now is in fact a bubble that will pop.

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